Good evening StockBandits!

The indexes posted only minor gains today, but it was definitely a psychological win for the bulls.  After a relatively flat open, the market sold off sharply into 10:15 ET.  However, the buyers emerged once again, and the lows of the session were made.  From there, the market grinded its way higher into the closing bell to finish in the green.

Over the past week, we’ve seen a pair of dips get bought.  One of them was after a hard selloff from last Friday, leaving a nasty high-volume distribution day on the daily charts of the indexes.  The other was today, just an intraday dip.  In both cases though, we’ve seen the buyers step up to provide support.  As a result, the market now looks poised for another push higher, potentially out of the 1-month trading range the NAZ has been bound by.

Tomorrow morning we have econ data which could drive the early action, so all eyes will be on how the open is treated.  If we gap lower, the question will be if an attempt is made to fill the gap.  If we gap higher, can we hold it and produce across-the-board highs in the indexes?  It should be an interesting day to send traders into the weekend with some questions to ponder.

There are some setups I’m eyeing for trades tomorrow, and with the NAZ and RUT both still range-bound (for now), I’m going to maintain cash overnight and stick with day trades.  Once some patterns emerge which offer good potential for multi-day moves in conjunction with a market that’s unrestricted, I’ll look to add more swings to my list, as I do prefer to operate on multiple trading timeframes.  For now, I’m taking what the market is offering, which are short-term plays for cash flow.

I’ll cover my game plan for tomorrow in the video, and as always, feel free to share your own thoughts, trade ideas, and questions down below in the comments section.

Here is tonight’s video:

The Bandit Broadcast Video – Click to Watch!

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Video Stocks Discussed: AA, ARBA, HOG, MOLX, APA

Swing Trading Candidates:

NONE TONIGHT

Bullish Watch:

LBTYA, ATPG, ADTN, ZAGG, PAY, UTX, CLR, RES, SODA, SGY, AA, PLCM, NWL, ARBA, SWKS, DVA, VSEA, SM, HOG, MOLX

Bearish Watch:

APA, SLAB, CELG, DRIV

The Hit List is a separate post which contains discussion on open positions and swing trade stops and targets, so be sure to check it for further details on swing trades.

Trade Like A Bandit!

Jeff

Good evening StockBandits!

The market spent today’s session range-bound, unable to recapture the momentum of Tuesday’s session.  Both the high and the low of the day were set in the first hour of trading, with neither level being violated for the remainder of the day.  That made for a very uneventful day, although it was a healthy way to digest the gains of the previous two sessions.

At this point, we’re still range-bound for the NAZ and RUT, two indexes which are key for higher prices if this market is going to run again.  The S&P 500 held 1300 again today, which is positive, but wider participation is needed if we are to see upside continuation.

While we wait for more unified price action, my plan is to continue sticking with shortened timeframes.  Plays from last night which produced excellent moves through their respective triggers included DIS, RDC, and BWA (not to mention MCP moved $4 higher after gapping 3c through the trigger).  That’s offering plenty of movement without the overnight headline/gap risk, which this market is clearly sensitive to at the moment.  Aside from earnings headlines and geopolitical events (ie: Egypt), we have important econ data these next two sessions in the pre-market which the market is likely to respond to, for better or for worse.

January was a solid month here for the swing trades, and February is just now getting underway.  I’m in no hurry to rush trades simply to be “in something,” as that is a way to frustration and confusion.  When the right setups come along with good potential and well-defined risk, I’ll certainly take positions in them.  For Thursday, as noted, there are some setups which look good for quick moves, so that’s where I’ll focus my attention.

Tonight I’m going with the written format rather than the usual video, as I’m still battling a cold right now and coughing too much and my throat is too sore to speak. Therefore, my notes will be on the charts themselves tonight. Hopefully in a day or two I can return to the show-and-tell video format. Go get ’em Thursday!

Please leave your comments and/or questions below if you have any, I always enjoy the interaction.

Chart courtesy of TeleChart

Chart courtesy of TeleChart

Chart courtesy of TeleChart

Chart courtesy of TeleChart

Swing Trading Candidates:

NONE TONIGHT.

Day Trading Candidates:

These are the trades I’m eyeing for potential plays tomorrow. I will not be holding these overnight, and will wait for these levels to be crossed before entering trades.

Chart courtesy of TeleChart

Chart courtesy of TeleChart

Chart courtesy of TeleChart

Chart courtesy of TeleChart

Chart courtesy of TeleChart

Bullish Watch:

DIS, ATPG, MCP, REE, ROK, BRKR, BRKS, TXN, SOLR, AA, PLCM, RDC, RKT, IPI, STEC, ARBA, SWKS, JDSU, DVA

Bearish Watch:

ANR, ORLY, SLAB, INFY, BWA, DRIV

The Hit List will not be posted tonight as I am 100% cash overnight and there are no new swing trades for Tuesday. The Hit List typically contains stop and target levels for my swing trades.

Trade Like A Bandit!

Jeff

Good evening StockBandits!

The bulls defended the low end of the range over the past two sessions, respecting Friday’s low and producing a solid bounce from areas of support.  Today’s upside was impressive, as the market never backed off.  We saw steady strength into the early afternoon, followed by a few hours of quiet basing action into the closing bell.  The blue chips led the way with upside breakouts, as the S&P 500 and DJIA each reached new 52-week highs.  Meanwhile, the NAZ and RUT posted solid gains as well, but remained beneath their recent highs.

So while we did see strength across the board today, we’re still getting mixed signals when it comes to seeing unified new highs in each of the indexes.  Small caps continue to lag at this point, so eventually we’ll need to see the NAZ and RUT play catch-up, or they’ll likely drag the S&P and DJIA back down with them.

The uptrends are still intact for now, although the past few sessions haven’t been easy ones to trade.  Friday’s persistent weakness implied more selling to come, yet we’ve only seen strength since then.  Today’s action suggested a complete lack of concern for lower prices, so we’re seeing a little of everything right now.  At some point, the signals will become more consistent, but for the time being it’s still wise to stay on our toes and be prepared for anything.

Tonight I’m going with the written format rather than the usual video, as I’m still battling a cold right now and coughing too much and my throat is too sore to speak. Therefore, my notes will be on the charts themselves tonight. Hopefully in a day or two I can return to the show-and-tell video format. Trade ’em well on Wednesday!

Please leave your comments and/or questions below if you have any, I always enjoy the interaction.

Chart courtesy of TeleChart

Chart courtesy of TeleChart

Chart courtesy of TeleChart

Chart courtesy of TeleChart

Swing Trading Candidates:

NONE TONIGHT.

Day Trading Candidates:

These are the trades I’m eyeing for potential plays tomorrow. I will not be holding these overnight, and will wait for these levels to be crossed before entering trades.

Chart courtesy of TeleChart

Chart courtesy of TeleChart

Chart courtesy of TeleChart

Chart courtesy of TeleChart

Chart courtesy of TeleChart

Bullish Watch:

LBTYA, DIS, BORN, ACOM, MCP, IDCC, ZAGG, FOE, ATML, CAT, IVN, AMAT, GRT, AFL, RJF, VRI, BRKS, NVDA, NANO, TXN, SGY, AA, RDC, RKT, IPI, STEC, EAT, BHI, GRM, NWL

Bearish Watch:

MCD, SLAB, RVBD, DECK, BWA, DRIV

The Hit List will not be posted tonight as I am 100% cash overnight and there are no new swing trades for Tuesday. The Hit List typically contains stop and target levels for my swing trades.

Trade Like A Bandit!

Jeff

Good evening StockBandits!

The steep selloff we saw on Friday only saw follow through into this morning, as the indexes tested the waters on the downside before reversing back into positive territory.  The gains weren’t impressive at all, but for the time being, the bulls have stopped the bleeding.

Of particular note today was the fact that the NAZ bottomed at 2676, the exact level pointed out here last night.  The S&P 500 reclaimed 1278 after respecting Friday’s lows.  Finally, the RUT reclaimed 779, so the key short-term levels I’ve been watching are still valid.

At this point, the market is attempting to find its footing and we could see the battle continue on both sides.  The recent highs are serving as resistance, and former highs are (for now) serving as support.  As long as we’re caught in between those levels, we can likely expect some back-and-forth without any lasting momentum as traders respond in knee-jerk fashion to headlines which are interpreted as potential market-movers.

We will continue to have opportunities even within this range, so long as we look to primarily hit singles with a shortened timeframe.  And eventually when we do see the market resume its course – either with the uptrend or with the pullback which started last week – we should see more opportunities emerge for longer timeframes.

Tonight I’m going with the written format rather than the usual video, as I’m coughing too much and my throat is too sore to speak.  Therefore, my notes will be on the charts themselves tonight.  Hopefully in a day or two I can return to the show-and-tell video format.  Trade ’em well on Tuesday!

Please leave your comments and/or questions below if you have any, I always enjoy the interaction.

Chart courtesy of TeleChart

Chart courtesy of TeleChart

Chart courtesy of TeleChart

Chart courtesy of TeleChart

Swing Trading Candidates:

NONE TONIGHT.

Day Trading Candidates:

These are the trades I’m eyeing for potential plays tomorrow. I will not be holding these overnight, and will wait for these levels to be crossed before entering trades.

Chart courtesy of TeleChart

Chart courtesy of TeleChart

Chart courtesy of TeleChart

Chart courtesy of TeleChart

Bullish Watch:

ATI, AA, SGY, CAM, SRZ, APC, NXPI, MCP, CAT, IVN, SODA, SOL, RIG, RJF, SLB, AMRN, SOLR, LDK, JKS, TEX, DV, RKT

Bearish Watch:

ANR, AEM, RVBD, FFIV, BWA, FCX, YUM

The Hit List will not be posted tonight as I am 100% cash overnight and there are no new swing trades for Tuesday.  The Hit List  typically contains stop and target levels for my swing trades.

Trade Like A Bandit!

Jeff

Good evening StockBandits!

Last week started out on a positive tone as the S&P 500 and DJIA each pushed to new recovery highs, while the NAZ and RUT moved higher within their respective trading ranges.  The latter two indexes failed to meet or exceed their prior highs, however, so when Friday’s selloff hit, it hit them rather hard.

Unrest in Egypt took the blame for Friday’s selling, and while the events there are certainly nothing to dismiss, it’s more likely the market finally had a convenient excuse for some much-needed profit-taking.  We’ve been grinding higher for quite some time now without anything but brief periods of rest, so to see some actual selling isn’t such a bad thing.  It took me back to cash ahead of the weekend, so in that regard I’ll be making a fresh start this week.

In addition though, and more importantly, this shake-up will help to create some separation in the charts between the true leaders and the also-rans.  If we see follow through, we should have some opportunities on the short side, although there will still be some names which exhibit strength during the pullback.

The biggest key will be how the next bounce gets treated, as that should indicate to us whether the buyers have lost or maintained their resolve.  For now, I’m going to let the pullback play out without trying too hard to see if a lasting top has been put in…eventually we’ll find out, but in the meantime we have to keep focusing on locating new trades.

I’ll cover my game plan for tomorrow in the video, and as always, feel free to share your own thoughts, trade ideas, and questions down below in the comments section.

Here is tonight’s video:

The Bandit Broadcast Video – Click to Watch!

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Video Stocks Discussed: TXN, AMRN, RJF, SODA, SLB, AGCO, TCK, GES

Swing Trading Candidates:

NONE TONIGHT

Bullish Watch:

PCX, MCP, REN, SODA, RJF, TXN, PXD, SLB, AMRN

Bearish Watch:

MCD, SNI, SINA, GES, VFC, ANF, RVBD, TCK, TIF, DECK, APD, BWA, YUM, PLCE, AIG, DISCA, MON, GS, FCX, WRC, SYNA, GSM, AGCO, TSLA

The Hit List is a separate post which contains discussion on open positions and swing trade stops and targets, so be sure to check it for further details on swing trades.

Trade Like A Bandit!

Jeff

Good evening StockBandits!

The major averages posted incremental gains today, but essentially it was a day of rest.  Intraday, there was no momentum, making for a range-bound session with only a few pockets of momentum.

The DJIA and S&P 500 marked new highs today, but not by much.  In the meantime, the NAZ and RUT are each below their recent highs.  That leaves us with a market that’s still slightly split between the blue chips and “the others,” so the waiting game continues for us to see which side will ultimately take the others with it.

We’re essentially in a trading range here as a result, and that brings added importance to our efforts as traders.  In a strong or weak market, it’s easier to take a ‘rising (or falling in the case of a selloff) tide lifts all boats’ type of approach and get away with it than right now where the overall market runs have been limited on a net basis.

That isn’t to say there’s a lack of opportunity out there, because there are some great trades to be had (such as this week’s IPXL, REE, and ATW).  Rather, it’s just important that we exercise some patience and selectivity here so that we’re putting capital at risk when there’s a potential reward which warrants it.  And of course, as moves with better momentum come along, we can get more aggressive alongside them.

I’ll cover my game plan for tomorrow in the video, and as always, feel free to share your own thoughts, trade ideas, and questions down below in the comments section.

Here is tonight’s video:

The Bandit Broadcast Video – Click to Watch!

–

Video Stocks Discussed: RJF, REE, AIG, ANR, DECK

Swing Trading Candidates:

NONE TONIGHT

Bullish Watch:

RJF, FISV, LEAP, NAK, REE, PAY, ATML, ATW, REN, GRT, AFL, NVDA, AIG, TTMI, TXN, KCI, BAC

Bearish Watch:

ANR, MCD, NTAP, AEM, MSB, MSCI, DECK, APD, YUM, CREE

The Hit List is a separate post which contains discussion on open positions and swing trade stops and targets, so be sure to check it for further details on swing trades.

Trade Like A Bandit!

Jeff

Good evening StockBandits!

Stocks rallied today on the heels of last night’s Presidential address and ahead of today’s FOMC announcement, taking the indexes right to some notable levels.  The DJIA spent the better part of the day hovering around 12,000, the RUT lingered near 793, and the S&P flirted with 1300 for most of the afternoon.  In the end, we finished not far from those levels, and today’s FOMC ended up being a non-event (so far anyway).

This market has quite a bit of news to digest, and more is forthcoming with earnings reports from big names as well as econ data before the week is out.  That means we could see some more decisive movement in the next couple of sessions, which would be nice since we’re still essentially range-bound in most of the indexes.

Regardless, there will be more opportunities in the days ahead for trades across multiple timeframes, which to me is the sweet spot of trading.  Being able to maneuver on the shorter timeframes (day trades) while waiting for some setups for the longer timeframes (swing trades) to develop is a huge advantage we have as active traders.  I’ll be looking to exercise some patience tomorrow in terms of adding new positions, and will therefore be looking at a handful of setups for day trades while I wait for more swings to emerge on the charts.

I’ll cover my game plan for tomorrow in the video, and as always, feel free to share your own thoughts, trade ideas, and questions down below in the comments section.

Here is tonight’s video:

The Bandit Broadcast Video – Click to Watch!

–

Video Stocks Discussed: REE, ATW, BG, YUM, PLCE

Swing Trading Candidates:

NONE TONIGHT

Bullish Watch:

TTMI, RJF, NVLS, ANR, AMTD, LEAP, PCX, MGA, NAK, SPMD, ATPG, FTK, DFS, IDCC, REE, CCME, PAY, KKR, ATW, REN, IPXL, ARW, SODA, XEC, BG

Bearish Watch:

MSCI, YUM, PLCE

The Hit List is a separate post which contains discussion on open positions and swing trade stops and targets, so be sure to check it for further details on swing trades.

Trade Like A Bandit!

Jeff