Stock Picks Recap for 6/30/11

With each stock's recap, we will include a (with market support) or (without market support) tag, designating whether the trade triggered with or without market directional support at the time. Anything in the first five minutes will be considered WITHOUT market support because market direction cannot be determined that early.
From the report, BEAV triggered long (with market support) and worked:

AZPN triggered long (without market support due to opening 5 minutes) and worked:

IACI triggered long (with market support) and worked:

CHKP triggered long (with market support) and worked:

SIAL triggered long (with market support) and worked:

BRKR triggered long (with market support) and worked:

In the Messenger, GS triggered short (without market support) and worked enough for a partial but that was it:

Rich's AGU triggered short (without market support) and didn't work:

His BIDU triggered long (with market support) and worked:

SINA triggered long (with market support) and worked enough for a partial:

In total, that's 7 trades triggering with market support, all 7 of them worked.


Forex Calls Recap for 6/30/11

More winners for the session, see EURUSD and GBPUSD summaries below. Here's the US Dollar Index with our market directional tool for the session:

New calls and Chat tonight to end the month of June and head into the long weekend. There will be no calls Sunday.
EURUSD:
Triggered long at A (early) but gave you plenty of time to enter through B without stopping, hit first target at C, stopped second piece at entry at D:

GBPUSD:
I added an additional call ahead of the European session short under red UBreak which swept at A and stopped unfortunately (worked later). Our other call triggered short at B, hit first target at C, and stopped final piece just over entry at D:


Tradesight Market Preview for 6/30/11

The SP gained 10 on the day following through on the range breakout. The next important level is the 4/8 Gann level that is also where the 50dma lives.

The Naz side underperformed only adding 10 on the day (should be more like 13+ to match the SP side). The static trend line and 50dma are the next resistance levels. Keep in mind that Thursday is the last day of the month and will likely be choppy.

Multi sector daily chart:

The BKX was top gun finally breaking above the recent range. The Seeker exhaustion signal implies that more upside is likely. Keep on top of this sector for reversal setups.

The XAU took another shot at 200, the 50dma is the next level to consider.

The OSX broke above the DTL. Overweight this sector for long ideas.

The Transports followed through and will likely take a shot at the static trend line as long as energy prices don’t run away.

The BTK underperformed the market and is now 7 days up.

The SOX is still weak and was actually down on the day. Price remains trapped in the middle of the current regression channel.

The XAL took a breather after recording 9 days up. Set an alarm for a breakout over 43.04 after the pullback.

Oil closed back above 95, note the DTL.

Gold was higher by about 10 the 50dma is a very key area.


Tradesight Market Preview for 6/30/11

The SP gained 10 on the day following through on the range breakout. The next important level is the 4/8 Gann level that is also where the 50dma lives.

The Naz side underperformed only adding 10 on the day (should be more like 13+ to match the SP side). The static trend line and 50dma are the next resistance levels. Keep in mind that Thursday is the last day of the month and will likely be choppy.

Multi sector daily chart:

The BKX was top gun finally breaking above the recent range. The Seeker exhaustion signal implies that more upside is likely. Keep on top of this sector for reversal setups.

The XAU took another shot at 200, the 50dma is the next level to consider.

The OSX broke above the DTL. Overweight this sector for long ideas.

The Transports followed through and will likely take a shot at the static trend line as long as energy prices don’t run away.

The BTK underperformed the market and is now 7 days up.

The SOX is still weak and was actually down on the day. Price remains trapped in the middle of the current regression channel.

The XAL took a breather after recording 9 days up. Set an alarm for a breakout over 43.04 after the pullback.

Oil closed back above 95, note the DTL.

Gold was higher by about 10 the 50dma is a very key area.


Stock Picks Recap for 6/29/11

With each stock's recap, we will include a (with market support) or (without market support) tag, designating whether the trade triggered with or without market directional support at the time. Anything in the first five minutes will be considered WITHOUT market support because market direction cannot be determined that early.
From the report, SCSS triggered long (without market support) and worked:

MPEL gapped over the trigger, no play.
PODD triggered long (with market support) and worked:

WFSL triggered long (with market support) and worked:

In the Messenger, Rich's P triggered short (with market support) and worked:

His JPM triggered long (without market support due to opening five minutes) and worked a little:

His GS triggered long (without market support) and worked huge:

His SOHU triggered short (with market support) and didn't work:

NFLX triggered long (with market support) and worked:

Rich's AIG triggered long (with market support) and didn't work:

In the afternoon, Rich's AAPL triggered short (without market support) and worked:

AMZN triggered short (without market support) and worked:

Rich's FSLR triggered long (with market support) and worked late:

In total, that's 7 trades triggering with market support, 5 of them worked, 2 did not.


Stock Picks Recap for 6/29/11

With each stock's recap, we will include a (with market support) or (without market support) tag, designating whether the trade triggered with or without market directional support at the time. Anything in the first five minutes will be considered WITHOUT market support because market direction cannot be determined that early.
From the report, SCSS triggered long (without market support) and worked:

MPEL gapped over the trigger, no play.
PODD triggered long (with market support) and worked:

WFSL triggered long (with market support) and worked:

In the Messenger, Rich's P triggered short (with market support) and worked:

His JPM triggered long (without market support due to opening five minutes) and worked a little:

His GS triggered long (without market support) and worked huge:

His SOHU triggered short (with market support) and didn't work:

NFLX triggered long (with market support) and worked:

Rich's AIG triggered long (with market support) and didn't work:

In the afternoon, Rich's AAPL triggered short (without market support) and worked:

AMZN triggered short (without market support) and worked:

Rich's FSLR triggered long (with market support) and worked late:

In total, that's 7 trades triggering with market support, 5 of them worked, 2 did not.


Forex Calls Recap for 6/29/11

Another winner for the week in the EURUSD. See below.
Here's the US Dollar Index intraday with market direction levels:

New calls and chat tonight.
EURUSD:
Triggered long at A, hit first target at B, raised stop to entry and stopped at C:

GBPUSD:
Added an additional call long at A which didn't get going, closed even:


Forex Calls Recap for 6/29/11

Another winner for the week in the EURUSD. See below.
Here's the US Dollar Index intraday with market direction levels:

New calls and chat tonight.
EURUSD:
Triggered long at A, hit first target at B, raised stop to entry and stopped at C:

GBPUSD:
Added an additional call long at A which didn't get going, closed even:


Tradesight Market Preview for 6/28/11

The SP is making good on improving technicals. On light volume, more on that later, the futures gained 18 on the day marking the best close in weeks. Many of the financial commentators will dismiss today’s rally as unimpressive because of the low volume but be prepared for more of the same. There is an unusually large amount of institutional cash on the sideline. This is the perfect environment for a low volume summer walk up of stock prices. As long as the technicals remain positive and the trend bias is up, look to trade the long side of the market regardless of the volume. We’ll all have a chuckle in August if the “feeble, lackluster and uninspiring” volume carries price back to 1350 and we’ve been long the whole way even as the financial commentators continue to dismiss the move as “unsustainable”.

Naz added 35 on the day which was a slight underperformance to what is should have done. This is really the only technical compromise from the markets today. The static trend line and 50dma are the trade-to-target.

Multi sector daily chart:

The OSX was top gun on the day, outperforming all other major sectors. If the market gets in gear for a summer rally, this sector should break the DTL. Set an alarm.

The XAU was stronger than the broad market with an implied first bounce target of 200.

Be sure to overweight the Transports for the next few weeks. They are typically the best late cycle performer. Truckers, airlines and shippers should all be evaluated for long trades. Note that the TRAN is already back above the 50dma

The SOX is still a problem. They are still well below the midpoint of trade for the month and underperformed both the broad market and Naz today. There will be a big pop soon but follow through will be bumpy and uneven. The pigs will get their lipstick but continue to underweight.

The XAL underperformed on the day and is now 9 days up. When this DTL gets taken out they should begin to fly.

The BKX was last laggard on the day but should soon pivot and make good on the 13 exhaustion signal. 200dma by Labor Day? The BKX is the big early cycle sector which means that they are typically not top performers late in the cycle where we currently reside. This means that if the banks can turn positive it is a confirmation signal that the market has made a real turn and that even the less desirable sectors are attracting money. These confirming signals define the “rising tide” of true bias.

Oil bounced back to the 200dma.

Gold has broken trend and is a source of funds.


Tradesight Market Preview for 6/28/11

The SP is making good on improving technicals. On light volume, more on that later, the futures gained 18 on the day marking the best close in weeks. Many of the financial commentators will dismiss today’s rally as unimpressive because of the low volume but be prepared for more of the same. There is an unusually large amount of institutional cash on the sideline. This is the perfect environment for a low volume summer walk up of stock prices. As long as the technicals remain positive and the trend bias is up, look to trade the long side of the market regardless of the volume. We’ll all have a chuckle in August if the “feeble, lackluster and uninspiring” volume carries price back to 1350 and we’ve been long the whole way even as the financial commentators continue to dismiss the move as “unsustainable”.

Naz added 35 on the day which was a slight underperformance to what is should have done. This is really the only technical compromise from the markets today. The static trend line and 50dma are the trade-to-target.

Multi sector daily chart:

The OSX was top gun on the day, outperforming all other major sectors. If the market gets in gear for a summer rally, this sector should break the DTL. Set an alarm.

The XAU was stronger than the broad market with an implied first bounce target of 200.

Be sure to overweight the Transports for the next few weeks. They are typically the best late cycle performer. Truckers, airlines and shippers should all be evaluated for long trades. Note that the TRAN is already back above the 50dma

The SOX is still a problem. They are still well below the midpoint of trade for the month and underperformed both the broad market and Naz today. There will be a big pop soon but follow through will be bumpy and uneven. The pigs will get their lipstick but continue to underweight.

The XAL underperformed on the day and is now 9 days up. When this DTL gets taken out they should begin to fly.

The BKX was last laggard on the day but should soon pivot and make good on the 13 exhaustion signal. 200dma by Labor Day? The BKX is the big early cycle sector which means that they are typically not top performers late in the cycle where we currently reside. This means that if the banks can turn positive it is a confirmation signal that the market has made a real turn and that even the less desirable sectors are attracting money. These confirming signals define the “rising tide” of true bias.

Oil bounced back to the 200dma.

Gold has broken trend and is a source of funds.