Good evening StockBandits!

The market surprised quite a few people last week by doing very little.  Some had forecasted for a sharp decline post-New Year which would catch many bulls off guard.  Others were looking for a spike into the first week of January, and although Monday’s session began that way, the follow through never materialized into the remainder of the week.  Case in point, the SPY finished only $0.48 higher than Monday’s opening price by Friday’s close.

It will be a long year with plenty of movement, I have no doubt.  However, 2011 has begun much like the end-of-year trading action we saw over the prior few weeks.  During that time, we’ve seen occasional up moves followed by several days of basing, and that’s how last week played out.  The lone exception from a technical standpoint was the volume, which has returned (thankfully) to much stronger levels.  With liquidity back in the picture, the trading scene should only improve with a bit more volatility.

From a trading standpoint, last week there were only select moves taking place, and I was pleased with it overall.  There were only 2 swing trades I took interest in, but they both behaved quite well and produced nice gains.  There were some day trade failures and some successes, but overall it proved to be a week where doing less was more.  In a wait-and-see type of market like we’re in right now, that’s to be expected.  I plan to continue to maintain a limited focus list until we see things get shaken up, and at some point they will.  The idea is not to grow impatient while waiting, and with some solid trades coming our way last week, it makes it easier to pick and choose our spots for involvement.

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: ANR, MGA, CCME, SLV, COH

Swing Trading Candidates:

NONE TONIGHT

Bullish Watch:

AA, LVS, DIS, NFLX, APC, TQNT, RVBD, CNX, ENTR, SOL, BYD, MTL, DVN, ANR, MTW, MGA, ERX, CCME, ZAGG, OSK, AXTI, SCOK, CIS, NOR

Bearish Watch:

SLV, NG, COH, NKE, KMX, AEM, LO, UA, SRCL

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!

Today we saw another session of minor net changes, and for once that actually told the story of the day.  There were no lasting intraday moves, and the indexes finished little-changed and mixed.  Volume held strong, which is evidence that there’s ample liquidity here, but as traders what we really need to see is more widespread momentum in one direction or another.

The limited movement of the day made for narrow ranges, which most likely was due to traders unwilling to stay with new positions ahead of tomorrow’s jobs report.  That’s a big focus of the market right now, so with a potential gap looming tomorrow, it seems most traders were content to flip out shares into brief periods of strength or weakness today, preventing any big moves from really developing.

I’m still seeing quite a few charts which are simply churning here, which is to say they’re basing.  Many have alternated strong and weak closes this week, showing they’re simply treading water while waiting for a bigger catalyst to really produce a move.  Given that there’s such limited follow through at the moment, I’m still keeping my timeframe short while we wait for better momentum to surface, and for Friday, that means day trades for new plays while I continue to manage my existing swing positions.

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: YOKU, LEN, FWLT, MCD

Swing Trading Candidates:

NONE TONIGHT

Bullish Watch:

FCS, RVBD, LEN, CBS, ATML, YOKU, DANG, IVZ, ITMN, FNSR, FWLT, TSL, MTW, TSLA, CF, KKR, AGU, MMR, STEC, HUM, JBHT, GMXR, OC, ILMN, VHC

Bearish Watch:

MCD, NG, NFLX, NKE, KMX, RHT, WHR, DVA, MSB, UA, LFT, SAFM

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 battled back from a weak start this morning, erasing an opening gap to the downside rather quickly.  From there, the market staged as steady rally into mid-day, where things slowed down for the final few hours of the day.  The indexes were able to add minor gains in the afternoon to their morning strength, going out right near their highs of the session.

Today’s move covered the losses we saw on Tuesday for the NAZ and S&P 500, reminding us that the buyers are still being aggressive on dips.  The uptrends are still intact, and as of tonight the indexes are each either at new highs or just a short distance from them.

The pullback-and-rebound action of the past couple of sessions has made for some whippy trading intraday, but it’s been an essential pair of rest days for many stocks.  That’s helping to build more bases on the charts tonight of individual stocks, so I’ll continue to keep a close eye on what’s setting up in the days ahead.  I have a pair of swing trades on (see the Hit List), but heading into Thursday’s session am not looking to add more overnight exposure just yet.  As the setups arrive which warrant new positions, I’ll certainly have them here.

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: STEC, ITMN, SCOK, MTW, SAFM

Swing Trading Candidates:

NONE TONIGHT

Bullish Watch:

LVS, V, ATML, NTAP, APC, LEN, AG, ITMN, VSH, KBH, WLT, MTW, KKR, TSLA, MMR, BZH, STEC, CBL, AGCO, ILMN, DEXO, DHX, BLL, BEAV, SCOK

Bearish Watch:

SAFM, YUM, NKE

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!

A steady morning slide into negative territory left traders with a dilemma today, and the buyers responded with an afternoon rally which erased the majority of the day’s losses.  The DJIA actually finished positive, and once again we see evidence that even on a day absent of momentum, the uptrend is still intact.  We also saw volume pick up from yesterday’s levels in most cases, showing continued post-holidays participation, even if it may have been tied to the intraday down-and-back battle we saw.

Today’s action allowed much of Monday’s upside gap to get filled, and yet by the close we saw recent resistance zones cleared once again.  So although on the surface it looked like little took place today, there was some important technical action which the net changes simply don’t reflect.  Often times that’s the case in the market.

Many individual stocks are still digesting Monday’s moves, leaving me uniterested in adding more overnight (swing) exposure in tomorrow’s session.  Instead, I’ll stick with the two names I added today (please see the Hit List below for details) and otherwise will focus on a handful of day trade candidates which look poised to offer some single-day potential, provided of course they can clear the levels highlighted in tonight’s video.

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: LVS, FCS, BLL, KMX, TIE, SAFM

Swing Trading Candidates:

NONE TONIGHT

Bullish Watch:

LVS, ATML, CBS, NTAP, ITMN, ENTR, VSH, SOL, CMA, BYD, KKR, NDAQ, FCS, URI, STEC, HLS, CCME, SPMD, BLL, TMK, NXPI

Bearish Watch:

TIE, COH, YUM, NKE, KMX, BVN, UA, SAFM

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 New Year began today for the market with a big gap to the upside and some additional strength which followed.  And although the market slipped from its best levels by the closing bell, the bulls still made meaningful strides today with a push to new highs across the board.  The intraday ranges expanded a bit, and volume jumped considerably, which was very nice to see.  That points to much higher overall participation, which should make for a better trading environment than what we’ve seen in the last two weeks.

The indexes continue to exhibit strength, and while it is just the first week of January (and thus, anything is possible), it’s a solid start for the year.  We have room to move higher in each of the averages, and if today’s action was any indication, the bulls may be intent on producing those moves.  Earnings season won’t begin in earnest for a little while longer, which means the focus for a little while is likely to stay on the price action and the economy, both of which have promoted plenty of upside in recent months.

As a result of the return of volume and volatility today, more setups are present tonight and that spells opportunity for tomorrow’s session.  Many stocks moved big today and may need a rest, but there are also plenty of stocks which could play catch up in the days to come.  I’ll get to several momentarily when we get to the video.

One final note I want to make here is one of encouragement.  Anytime the market jumps right out of the gate with a gap like we saw today, you either have to chase strength or be long overnight in front of it.  And as a result, tonight you might be feeling some discouragement if you feel you lagged today.  Let me say this:  don’t!  The year is long, and while we may all be a bit impatient and don’t enjoy waiting for more opportunities, the fact is that they will come.  There will be many days this year where you outperform drastically, and you need to trust that.  Great trading is about catching some moves, yes, but it’s also about avoiding mistakes.  If you go out tomorrow trying to make up for perceived lost opportunity today, that’s a mistake, so avoid doing that.  Take the setups you know, manage them accordingly, and remember that trading is a marathon and not a sprint.  Do your best each day, but take a long-haul approach and believe that your method over time will produce for you.  That’s what it’s all about.

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: SINA, CBL, CCME, AEM, BVN, KKR, ATML

Swing Trading Candidates:

KKR cleared resistance two weeks ago and pulled back, holding well above the breakout zone.  This one may be getting ready for another leg up, so I’m watching for a push through the trend line at $14.60 to trigger a buy.  As with all swing trades, my stop and target levels for this trade are found on the Hit List here inside the Hideout.

Chart courtesy of TeleChart

ATML is currently resting within an uptrend, but may be gearing up for another push higher if today’s advance within the base is any indication.  I’m watching for a push through $12.70 to trigger a buy as this one would begin a new leg higher with a move up through that level.  As with all swing trades, my stop and target levels for this trade are found on the Hit List here inside the Hideout.

Chart courtesy of TeleChart

Bullish Watch:

ATML, AIG, CBS, DIS, MAS, NTAP, RVBD, IR, MIPS, MTG, AVL, CMA, SVM, NDAQ, MTW, ATPG, KKR, SINA, WHR, CBL, MHR, CCME, SPMD, REMX, PEI, NXPI, SFY, NVTL

Bearish Watch:

NFLX, COH, YUM, AEM, BVN, SODA

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