Good evening StockBandits!

This morning we saw yet another sizeable gap, this time to the upside, as stocks jumped higher right out of the gate and never looked back.  The lows of the session were set at the open, and after some initial consolidation the buyers continued to put cash to work.  That gives the indexes some breathing room above short-term support levels, while opening the door to an upside resolution to this indecision phase known as a trading range.

It’s extremely difficult to capture a move like we saw today, as so much of the advance came via the gap.  Toss into the mix the fact that we saw a weak finish last night just above key short-term support, and it would have been downright risky or even foolish to load the boat on the long side in anticipation of a giant spike higher.  So, when others wonder if you had a huge day today based upon the market rally alone, be patient and don’t conclude that there was a ton to do.  On days like this, the buy-and-hold crowd are the ones who are thrilled with it, and you and I as traders tend to find more opportunities when these big gaps aren’t present.  Stated otherwise, it was a good day but better days will undoubtedly follow.

The temptation many traders face after a day like this is to get overly aggressive tomorrow in hopes of making up for perceived lost opportunity.  Don’t make that mistake tomorrow.  My plan is to focus on stocks which participated some today, but which still have room to play catch-up tomorrow as money flows into them to produce secondary moves.  There will be opportunity there, even if the indexes happen to put in some well-deserved rest.

It will be those catch-up stocks that I’ll be focused on tomorrow, and I’ll outline them in tonight’s video momentarily.  Put the momentum names on your watch list, but don’t chase extended stocks tomorrow and remember they’ll likely need to rest and base before they’re really worth trading again.

**As a reminder, my wife & I are expecting a baby in the next 3 1/2 weeks and our first arrived 4 weeks early. So, I may drop off the radar suddenly whenever this baby decides to arrive. If I do, fear not – I will resurface with an update shortly after!

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: DRIV, KMX, RVBD, TSL, NG

Swing Trading Candidates:

NG has spent the past few weeks basing in a narrowing consolidation after a big run from late-October into early-November.  This has created a large bull pennant pattern, and now the stock is challenging the upper trend line to suggest a breakout may be near.  I’m watching for a push through $14.85 to trigger a buy and signal that another leg higher is starting.  As with all swing trades, my stop and target levels are on the Hit List here inside the Hideout.

Chart courtesy of StockFinder

Bullish Watch:

DRIV, NTGR, KMX, CODE, BEXP, CTXS, F, GGAL, TGA, JAZZ, SM, DAR, NG, WLT, RIG, RVBD, PUDA, BEN, MSCC, ATML

Bearish Watch:

MOS, TSL, JKS, ESI, NHP

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!

Another weak start this morning sent stocks tumbling, but once again as the S&P 500 approached short-term support, the market stabilized and the low of the day was in.  Each of the indexes lost ground today, and they remain in the lower portions of their respective trading ranges as of tonight.

Of utmost importance here is how the bulls respond.  They’ve been the drivers of this market ever since the August pullback when a higher low (vs. July) was established.  From there, the buyers have been at work consistently, but they’re facing a challenge here with the possibility of a secondary pullback if short-term support gets broken.  The news flow is ripe with reasons for concern, from Europe to Korea, but there’ll be no shortage of domestic economic headlines to draw the focus back home between now and the end of the week.

Many charts have put in sloppy bars over the past couple of sessions, which is to be expected with increased volatility within a trading range.  My intention for Wednesday’s session is to stay selective and generally wait to see if the indexes show any hints of an exit from this range.

**As a reminder, my wife & I are expecting a baby in the next 3 1/2 weeks and our first arrived 4 weeks early. So, I may drop off the radar suddenly whenever this baby decides to arrive. If I do, fear not – I will resurface with an update shortly after!

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: NG, PUDA, ANV, KMX, LULU, VMW, MMM, WYNN

Swing Trading Candidates:

NONE TONIGHT

Bullish Watch:

ANV, GPS, OAS, KMX, WMS, LULU, CODE, TSLA, X, SM, MDR, NG, THQI, CLR, BTU, SMT, VMW, PUDA, APC, LTD, MWW, BYI

Bearish Watch:

MMM, BIDU, MCP, WYNN, NHP, ARG, WHR

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!

Traders returned from the weekend skittish and in the mood to raise cash, and for the opening half hour of the day, that’s exactly what they did.  The indexes were deep in the red across the board, with the DJIA down triple digits and the S&P 500 hitting the 1173 support shown here in last night’s video.

From there, stocks were able to stabilize and gradually improve as the day progressed.  A trading range emerged just above the lows, and later in the day we saw a steady lift erase the majority of the day’s losses, leaving the market down just fractionally by the closing bell.

Today’s action is encouraging in the short term for the bulls, as they saw yet another dip get bought.  They still have a long road ahead of them with the indexes still sitting in the lower portions of their short-term trading ranges, but to see support get tested and hold gives them something to build on in the days ahead.  Time will tell whether the news flow allows it, as right now there seems to be no shortage of reasons for concern.  Nonetheless, the end of the month brings proximity to the end of the year, and that could deliver a decent Santa Claus rally if this market happens to catch a bid.

Tonight there are a number of charts I’m eyeing, as you’ll see not only in the video but also in the expanding watch lists down below.  We’re range-bound at the moment, but a little momentum could arrive at any time, so I’m watching for a number of possibilities.  During times like this, it’s most important to have some if/then scenarios, rather than try to predict which way things will go.  As a trader, I don’t have a bias, I just want to be able to participate once this indecision is resolved.

**As a reminder, my wife & I are expecting a baby in the next 3 1/2 weeks and our first arrived 4 weeks early. So, I may drop off the radar suddenly whenever this baby decides to arrive. If I do, fear not – I will resurface with an update shortly after!

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: WLT, NOG, X, BTU, BIDU, SM

Swing Trading Candidates:

SM has put in some nice quiet rest over the past couple of weeks after a nice ascent to new highs.  This sets up a large pennant pattern and an upside continuation play if the upper trend line gets cleared.  I’ll be a buyer if that happens, and will be using $50.00 as a trigger to get long. As with all swing trades, I’ll have my stop and target levels listed on the Hit List here inside the Hideout.

Chart courtesy of StockFinder

Bullish Watch:

DRIV, CNX, HAL, MOTR, BGC, OAS, WMS, BMRN, PCX, LULU, LYB, WTI, F, JAZZ, CVG, X, SODA, SM, SLW, FCS, WLT, CCJ, NOG, THQI, BTU, NVDA, RIG, AA, TWI, JNPR, BRCM, VMW, APC, OMC

Bearish Watch:

VFC, MIPS, BIDU, MCP, JKS, TRW, FSLR, MOS, CCK

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!

At long last, I’m back with you in video format!  It’s been 5 weeks, and I appreciate your understanding during the transition time.  We sold our last house but the new house wasn’t yet completed, so we had 3 weeks in between spent with family.  It was nice – and we survived, but we’re now finally settled into the new house and I’m back running at full speed.  The old house just wasn’t going to be big enough to accommodate our growing family, so we needed more space.  Once we arrived at the new house, my office still needed to be completed, hence the additional delay in returning to video.

I hope you’ve enjoyed the written format we’ve had for the past several weeks, and I’d love to have your feedback on aspects you liked in the written format, as well as what you missed in the videos.  Email me (Jeff@TheStockBandit.com) or comment below, but do please let me know!

Turning our attention to the market, we’re coming off one of the lightest-volume weeks of the year, as Thanksgiving typically rivals July 4th in terms of light volume.  Essentially, in the near term at least, that removes a key component from our charts (volume).  It forces us to focus on the price action alone, which is the most important, but it does add a degree of difficulty when determining the character of the moves we’ve been seeing.  The good news is that volume is likely to return this week as traders return to their screens, and that should help to add some clarity to the moves going forward.

The indexes are short-term range-bound here, which is fine.  It gives us some well-defined boundaries to keep a close eye on, and it allows us to structure some if/then scenarios for getting involved once the market gets back on the move.  In the short term, continued indecision is possible, but eventually we’ll see this market gather some steam one way or the other.  With the end of the year approaching, that could either mean an updraft if performance anxiety kicks in, or an accelerated pullback if we happen to see more profit-taking emerge.

**As a reminder, my wife & I are expecting a baby in the next 3 1/2 weeks and our first arrived 4 weeks early.  So, I may drop off the radar suddenly whenever this baby decides to arrive.  If I do, fear not – I will resurface with an update shortly after!

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: WTI, NOG, WLT, FCX, AGU, F, MOS

Swing Trading Candidates:

F has been on the move higher in recent months, and over the past two weeks has put in a healthy pullback with some profit-taking.  This one appears to have stabilized, and now is trying to clear the trend line and turn back up.  I’ll be a buyer if this one can cross $16.20 on its way back up for a swing trade. As with all swing trades, I’ll have my stop and target levels listed on the Hit List here inside the Hideout.

Chart courtesy of StockFinder

MOS recently turned lower from its highs and has since been able to only recover a portion of what was given back.  This stock now appears in danger of creating a lower high on the daily chart, so I’m watching the lower rising trend line of support for a possible break at $69 to trigger a short sale.  As with all swing trades, my stop and target levels for this trade are on the Hit List here inside the Hideout.

Chart courtesy of StockFinder

Bullish Watch:

MOTR, GPS, ORLY, LULU, VRSN, TSLA, WTI, F, JAZZ, QCOR, DAR, UEC, WLT, NOG, THQI, CCME

Bearish Watch:

FCX, OFC, MCP, LXK,  BXP, AGU, FSLR, MOS, VMC, MHK, SHAW

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!

In Sunday’s Broadcast, I included a comment regarding the stage being set for some drifty price action this week “unless some big news surfaces.”  Well, today’s market drop was caused by exactly that, as stocks sold off with a downside gap in response to tensions between North & South Korea.  The situation there could easily escalate and include the involvement of other nations as well.  After an exchange of fire overnight, the world is on watch to see whether tensions will mount further or subside.

The market hates uncertainty, and anytime war is on the table we tend to see money flow to safe havens (such as the sidelines) and out of stocks.  On a holiday-shortened week like this one where the volume is lighter to begin with, it takes even less to produce a meaningful move in price either way (up or down).  So to see a sizeable gap down this morning get followed by some additional weakness on the heels of major geopolitical news isn’t surprising.  With little else to focus on Wednesday and during Friday’s half-day session, we can expect the market to fixate on all headlines regarding this situation.

From a technical standpoint, the indexes have failed to reclaim key levels after attempts in recent days stopped shy, and we’re now seeing them turn back down toward the pullback lows of last week.  It would be short-term bearish to see last week’s lows get taken out, and would imply this market has at least another leg lower to go.

With the market being closed Thursday and with Friday only being a half session and one of the lightest volume sessions of the year, I will not be trading on Friday (never do during Thanksgiving week).  The action is just too difficult to gauge with all the light volume, and my attention is on spending time with family.  As a result, the next Broadcast will be on Sunday night, hopefully with a return to video format!  I hope you enjoy your Thanksgiving and get away from the screens for a few days to relax and be with those you love the most.

As a reminder, my wife & I are expecting our 2nd child sometime in the next 4 weeks, and our first child arrived 4 weeks early. Ideally this baby holds off a couple more weeks, but if I happen to fall off the radar for a couple of days, you’ll know why. Currently there are no signs to suggest that will happen, but with babies you just never know!

For tonight, my notes are on the charts below for index levels and potential trades I’m eyeing for Wednesday.

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

Chart courtesy of StockFinder

Chart courtesy of StockFinder

Chart courtesy of StockFinder

Chart courtesy of StockFinder

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 StockFinder

Chart courtesy of StockFinder

Chart courtesy of StockFinder

Chart courtesy of StockFinder

Bullish Watch:

NOV, PSS, ABX, NG, ACOM, TSLA, JOBS, IVN, TGA, JAZZ, SODA, CREE, UA, SINA, VSH, MW, DKS, SRS, POWI

Bearish Watch:

MMM, SOHU, FCX, LNCR, OFC, JAH, MCP, PSA, JKS, LAZ, HCP, HCN, AKAM, ADTN

The Hit List contains stop and target levels for my swing trades.

Trade Like A Bandit!

Jeff

Good evening StockBandits!

Mixed and drifty are the best words to describe today’s action, as momentum was fleeting and volume sagged across the board.  I mentioned last night that we could see exactly that this week, and so far we’re 1-for-1.  Such is the case during holiday-shortened weeks though, as traders have other things on their minds and other places to be – just as they should on Thanksgiving.  Nonetheless, the action was limited and the indexes for the most part continue to deal with short-term resistance areas just a short distance above.

Although it didn’t prove to be a technically significant day, some quiet consolidation is never a bad thing.  It helps to establish some bases in the charts of individual stocks, thus opening up some opportunities once we do see momentum return.  The biggest key is to endure the listless action and remain patient while waiting for more lively action to arrive.

I’m doing my best to do that right now, and again my list is somewhat narrow for Tuesday’s session.  I’m eyeing some longs and shorts, and mostly day trades with one new swing candidate.  As the volume continues to dwindle these next couple of sessions, it will be important for us to make our trades count and exhibit a willingness to limit our activity unless better momentum surfaces.

As a reminder, for a short time longer I’ll be utilizing the written format of the Broadcast as I get the new office set up with the equipment I use for recording the nightly video. Once that’s ready, I do expect to be back to the usual video format. To those who prefer the video, thanks for your patience.

Additionally, my wife & I are expecting our 2nd child sometime in the next 4 weeks, and our first child arrived 4 weeks early. So, ideally this baby holds off a few more weeks, but if I happen to fall off the radar for a couple of days, you’ll know why. Currently there are no signs to suggest that will happen, but with babies you just never know!

For tonight, my notes are on the charts below for index levels and potential trades I’m eyeing for Tuesday.

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

Chart courtesy of StockFinder

Chart courtesy of StockFinder

Chart courtesy of StockFinder

Chart courtesy of StockFinder

Swing Trading Candidates:

IVN has established support in the $23 area in recent weeks and just tested it successfully again last week.  The stock has stabilized after its recent pullback, and now is challenging the descending trend line just overhead.  I’ll be a buyer for a swing trade if this one can clear the $24.75 level, as that would free up this stock to advance again.  As with all swing trades, my stop and target levels for this stock will be on the Hit List post here inside the Hideout.

Chart courtesy of StockFinder

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 StockFinder

Chart courtesy of StockFinder

Chart courtesy of StockFinder

Chart courtesy of StockFinder

Bullish Watch:

NOAH, AMR, GSM, XEC, ATHR, OSG, OAS, KMX, VRSN, TSLA, IMAX, BEXP, WTI, IRF, IVN, WCC, TGA, DDS, AMCN, CVG, SODA, SM, DAR, CREE, VSH, JCG, COST, NG, VECO

Bearish Watch:

V, OFC, CSC, JOE, HCP, URE, TSL, FSLR, MOS, TCO

The Hit List contains stop and target levels for my swing trades.

Trade Like A Bandit!

Jeff