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Hit List 1-14-2010

January 14, 2010 By Jeff White Filed Under: Hit List

The Hit List is a look at our current swing trading positions. Stocks we are already in have “triggered”, while those we are considering for plays have not triggered. Click post title to view print-friendly link.

NAV triggered & stop raised

Open Position Notes:

KIM spent another day in its consolidation zone after yesterday’s breakout failure sent the stock right back beneath resistance. Today the stock lost a little ground, but volume decreased once again and my stop isn’t far from here. I’m going to stick with it for now, but would prefer to see this one make another attempt at an upside move. So far, it’s not impressing me.

NAV triggered a buy today as it nudged past resistance, but by the closing bell it had slipped back beneath the $41.40 key level by a few cents. Volume didn’t help, as it was light, and that’s the fuel for a breakout. I’ve tightened my stop to just beneath today’s low in case the failed breakout brings a reversal, but otherwise I do still like this setup and will see what happens Friday.

Closed Positions:

No closed positions.

Bandit Broadcast for 1-14-2010

January 14, 2010 By Jeff White Filed Under: Videos

Edit: I just realized the market will be closed on Monday in observance of MLK day, so the next Bandit Broadcast will be published on Monday rather than the usual Sunday. Enjoy the extended weekend!

Good evening StockBandits!

The bulls claimed another small victory today with modest gains across the board, reminding the bears that they are still in the driver’s seat. The uptrends which have been in place since last March are still intact, but we’re sure not seeing much momentum of late. The NAZ remains range-bound, and the S&P 500 and DJIA are only creeping quietly higher. Volatility has contracted significantly, but eventually that will change. For now, the trend deserves our respect.

Tomorrow is of course options expiration Friday, which is to say that some once-monthly factors will be at play and could bring some unusual moves. My plan is to simply keep an abbreviated timeframe for new trades while managing my existing positions. Many stocks are in good health, but selectivity is still en vogue with the lack of momentum in the indexes.

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

Here is tonight’s video:

broadcast-preview
The Bandit Broadcast Video – Click to Watch!

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Video Stocks Discussed: ZION, AEIS, BA, PNC, FCN

Swing Trading Candidates:

NONE TONIGHT

Bullish Watch:

ESI, LUV, CAL, DAL, F, HUN, SWK, ADS, ZION, AXP, AEIS, DRWI, X, MDC, BA, V, NAV, PNC

Bearish Watch:

NTRI, ANF, IOC, SYNA, TRV, FCN, FAF, FMX, NFLX, GPN, MELI, TECD

The Hit List will be coming out soon with discussion on open positions and swing trade stops and targets, so be sure to watch for it.

Trade Like A Bandit!

Jeff

Hit List 1-13-2010

January 13, 2010 By Jeff White Filed Under: Hit List

The Hit List is a look at our current swing trading positions. Stocks we are already in have “triggered”, while those we are considering for plays have not triggered. Click post title to view print-friendly link.

STT stopped, KIM triggered

Open Position Notes:

KIM triggered a buy today as it crossed $14.25 to clear short-term resistance. Volume was not very strong though, and by the end of the day the stock had returned to within a few cents of the resistance zone. Today’s move does mark the highest close for the stock since September, so I’m willing to see if it can get moving a little better tomorrow before I look to make an adjustment on my stop.

Closed Positions:

STT triggered my stop loss today as it undercut the $43.90 level, handing me a small 2.4% loss. This stock started out with a nice initial push higher after clearing $45, but Monday’s reversal quickly erased those gains and the stock headed lower. I was keeping my stop pretty tight on this one given that the move prior to the consolidation phase had nice momentum, so a continuation attempt should mimic that price action. However, it did not, so I’m now out of this trade with a small loss. I’ll keep the stock on my radar in case it sets up again, but for the time being it appears to still be in a consolidation phase.

Bandit Broadcast for 1-13-2010

January 13, 2010 By Jeff White Filed Under: Videos

Good evening StockBandits!

Tuesday’s weakness was once again only a flash in the pan as strength returned today, nearly erasing yesterday’s losses. The major indexes each finished just a few points away from Monday’s closing levels, with the NAZ and S&P 500 each stopping just shy while the DJIA was able to push slightly through.

The bulls continue to find reward in scooping up every single dip in this market, no matter how brief. As long as that remains the case, we can expect them to behave in a similar fashion.

The real key will be in finding setups which offer a perceived risk/reward which is worthwhile, and in stocks which are not too short-term extended. That’s a tall order in the current environment, so selectivity is still quite important.

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

Here is tonight’s video:

broadcast-preview
The Bandit Broadcast Video – Click to Watch!

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Video Stocks Discussed: DRWI, ARM, ESI, TIF, BA, MDC, FAST, NTRI, TRV

Swing Trading Candidates:

NONE TONIGHT

Bullish Watch:

H, DAL, ABV, AXP, FRT, KIM, ESI, TIF, AEIS, LYV, TEVA, DRWI, ARM, X, HANS, MDC, CAT, IR, FAST, BA

Bearish Watch:

NTRI, ANF, TRV, LPS, FCN, FAF, FMX

The Hit List will be coming out soon with discussion on open positions and swing trade stops and targets, so be sure to watch for it.

Trade Like A Bandit!

Jeff

Bandit Hideout Goals for 2010

January 13, 2010 By Jeff White Filed Under: Announcements

This is a ‘sticky’ post which will remain at the top of the Hideout home page for several days in order for everyone to see it. The usual Hideout updates will continue below, so this is not a stale post!

As we get into a brand new year of trading, it’s a time where some reflection is a good thing. Looking back gives us a point of reference for where we want to go, and this is the time of year when we all do this on a number of levels.

The point of this post is just to share with you some of my goals for 2010 here in The Hideout.

This is still a pretty new format, as we just shifted over to it late last year. As with anything new, some adjustments are needed before comfort sets in, and I suspect that’s where some of you are right now.

Some of you have not missed a beat with the new format, and you’re jumping in to post comments and ideas of your own as you have them. I love it, and I hope you’ll continue doing so!

Others of you have remained quiet, and I want to be sure to clarify for you here that what I really am hoping for in 2010 is that you’ll engage more on a few levels – if you’re willing, of course.

For some of you, this is just a place you want to take ideas and add them to your own, with no interest in interacting or sharing. That’s perfectly alright, I want to stress that, so I’ll say it again: that’s perfectly alright. You will continue to find a slew of trading ideas presented here night after night – the very best I can find. And anytime you need help, you can certainly ask for it by contacting me directly. That has always been an option, and will continue to be.

But if you’re here because you’re aiming to learn more and to sharpen your skills as a trader, or as a chart reader, or with your own market analysis, then we’ve got to get some better dialogue going! I need to have the ability to address your questions, but I don’t know exactly what they are until and unless you express them. And this is the place to do it.

Let me share with you what I have in mind in terms of more engagement…

* Ask Questions. As traders, each of us encounters situations which we either have never faced before or don’t know how to deal with. There are certain curiosities we’ll have about how the market moves, and many other things. My hope is that when you have questions, you’ll present them here. There are a lot of people here willing and able to answer them, so utilize the Hideout as a resource!

* Share Ideas. No two of us are exactly alike, so we’ll each discover plays which others of us have overlooked. Share them when you have them (provided they are not day trades). Point out what you’re seeing in the chart, and offer some guidelines for how you’re looking to manage the position. The added ideas will offer more opportunity for all, and continue the learning process for others.

* Support One Another. Trading is a lonely, tough endeavor. There are times when a little support is extremely helpful. Whether it’s encouragement or gentle suggestions for how to overcome costly habits, my hope is that we can band together as Bandits and help one another out. Pat each other on the back, you’ll appreciate it when the favor is returned.

* Traders Helping Traders. Answer questions submitted by others, don’t just wait for me to do it. You’ve been around a while, and your voice counts. Discuss your strategies, offer heads-up about pending events which may be out soon (earnings, economic reports, etc.), and in general operate as a team. That’s what we are, with the common goal of growth in our abilities and in our trading accounts.

My hope is that you’ll embrace the community of traders here, because there really is a diverse group from all over the world. Nobody has a background like you do, and nobody has the same experiences you do. Share it here, and we’re all going to be better because of it!

Finally, let’s have some fun! Every one of us has an avatar beside our names when we post comments, but most of them are still not personalized. This is probably the fastest, easiest way to add some personality to our community. By taking about 2 minutes, you can take a little more ownership in your comments and at the same time help the rest of us know you a little better by giving us a glimpse of who we’re conversing with.

Head over to www.gravatar.com and register the same email address which is tied to your subscription here. You will be able to easily upload a picture of you or of something which you feel best describes you. It’s extremely easy and fast, and once you’ve done that, anytime you comment here in the Hideout your avatar will appear automatically. This way, the rest of us will be able to quickly associate your image with your trading style, and help to tighten our community by bringing some more personality into it.

So in summary, let me remind you that I’m really glad you’re here! I’m excited about 2010 and what it will hold in terms of trading opportunities, but also to see our interaction grow as a community of committed traders.

Trade Like A Bandit!

Jeff

Hit List 1-12-2010

January 12, 2010 By Jeff White Filed Under: Hit List

The Hit List is a look at our current swing trading positions. Stocks we are already in have “triggered”, while those we are considering for plays have not triggered. Click post title to view print-friendly link.

No changes

Open Position Notes:

STT edged slightly lower today, getting to within just 1 cent of my stop loss before climbing from its worst levels this morning. This obviously validates that stop, so I’m sticking with it for now. I did like the fact that today’s volume was lighter once again on the dip, so let’s see if this one makes an attempt to bounce from this support area in the coming days. If not, of course I’ll exit once my stop is breached.

Closed Positions:

No closed positions.

Bandit Broadcast for 1-12-2010

January 12, 2010 By Jeff White Filed Under: Videos

Good evening StockBandits!

A weak start this morning left traders considering doing some profit-taking, which they ultimately did. The NAZ gave up 1.3%, while the S&P 500 lost 1% on the session, shaking up the charts a bit in the process and reminding the Street that selling is still a possibility in what has been a one-way market.

Today’s decline didn’t do any technical damage, and in the case of the NAZ, actually filled most of the gap from January 4th before a minor bounce from the lows kicked in. Rising trend lines aren’t too far below for the S&P 500 and DJIA, so let’s see if the bulls are able to protect them in the days ahead.

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

Here is tonight’s video:

broadcast-preview
The Bandit Broadcast Video – Click to Watch!

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Video Stocks Discussed: DOW, AEIS, TIF, ESI, MGA, AXP, NFLX, FAF

Swing Trading Candidates:

NONE TONIGHT

Bullish Watch:

ESI, DF, DOW, MGA, AXP, STEC, AEIS, TIF

Bearish Watch:

NFLX, FAF, RIMM, GYMB

The Hit List will be coming out soon with discussion on open positions and swing trade stops and targets, so be sure to watch for it.

Trade Like A Bandit!

Jeff

Hit List 1-11-2010

January 11, 2010 By Jeff White Filed Under: Hit List

The Hit List is a look at our current swing trading positions. Stocks we are already in have “triggered”, while those we are considering for plays have not triggered. Click post title to view print-friendly link.

PBR stopped, HOC triggered & stopped, KIM & NAV added

Open Position Notes:

STT reached a new recovery high early today, but reversed lower and finished in the red. The positives from today in this one were that it did not trigger my stop, and that volume was lighter with today’s turn lower. This may have been a headfake type of move, but given that my stop is only about 1% from current levels I’m going to stick with it heading into tomorrow and see if it can hold. I do still like the pattern here, but today’s lack of follow through doesn’t make for a pretty bar on the chart. Let’s see where it goes from here.

Closed Positions:

PBR turned higher this morning, stopping me out for a small 2% loss as it cleared the $49 level. Not much later, the stock did reverse and turn lower, which is irritating to see after having been shaken out. Nonetheless, abiding by my stop loss levels has saved me many dollars over the years, and there was no indication this time would be any different. The stock is still struggling to overcome recent resistance, so I’ll keep it on the radar in case another well-defined entry appears on the chart.

HOC triggered a buy this morning as it cleared its bull pennant pattern with a breakout, but the strength was fleeting and the stock soon reversed hard. Not only did it turn negative on the day, but it took out my initial stop loss. This is known as a whipsaw to have a trade trigger an entry and soon be stopped out, and from time to time it happens. It’s frustrating, but in this case I felt the risk/reward for the setup was worth taking. I’m now out with a modest 2.3% loss and will stand aside from this one until a new pattern emerges.

Bandit Broadcast for 1-11-2010

January 11, 2010 By Jeff White Filed Under: Videos

Good evening StockBandits!

The major averages once again were unable to make much headway today as the NAZ gave up a few points while the senior indexes added a few. All in all, the bulls simply maintained their position.

We are still waiting for some better momentum to surface this year, at least since last Monday’s big gap higher. That of course was responsible for the bulk of last week’s gains, reminding us that most of the week was spent in a rather narrow and choppy range. I would expect things to pick up sooner rather than later, and given that the overall trend is up, I’m on my toes watching for plays on the long side. However, should things happen to weaken and we see some profit-taking set in, I’ll be willing to consider the short side rather than fight it. Anything is possible, and we must be on guard for some range expansion soon, one way or another.

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

Here is tonight’s video:

broadcast-preview
The Bandit Broadcast Video – Click to Watch!

–

Video Stocks Discussed: ARM, ONXX, LEAP, KIM, NAV

Swing Trading Candidates:

KIM turned higher a few weeks ago from a support zone and now is testing a resistance zone which has been validated a few times in recent months. A move up through the $14.25 level would constitute a breakout for this stock, so that will serve as my buy point for a swing trade.

Chart courtesy of StockFinder

NAV underwent a correction last summer and fall before stabilizing, and since then it has been recovering in a healthy fashion. Tonight the stock looks ready to start another leg higher, so I’ll be a buyer if and when it clears the resistance zone at $41.40.

Chart courtesy of StockFinder

Bullish Watch:

ARM, CAT, NAV, INCY, SPR, DAN, RAX, ARE, PHM, MTH, TEN, VCI, MDC, DF, VNQ, LZ, ONXX, MGA, TRW, BEAV, DAL, CSIQ, YGE, SYNA, SAH, KIM

Bearish Watch:

FAF, NFLX, PBR, ANF, LEAP, TRV

The Hit List will be coming out soon with discussion on open positions and swing trade stops and targets, so be sure to watch for it.

Trade Like A Bandit!

Jeff

Hit List 1-10-2010

January 10, 2010 By Jeff White Filed Under: Hit List

The Hit List is a look at our current swing trading positions. Stocks we are already in have “triggered”, while those we are considering for plays have not triggered. Click post title to view print-friendly link.

STT & PBR triggered, HOC added

Open Position Notes:

STT triggered a buy on Friday as it cleared the trend line at $45, opening the door for a new leg higher to begin. Volume picked up with the advance in price, although the stock did finish off its best levels of the session. Nonetheless, this appears to be a solid start, so I’ll stick with my existing trade parameters heading into Monday.

PBR triggered a short sale Friday as it undercut the rising trend line at $48, but ultimately the stock bounced back to finish back above that level and net positive on the day. These failed-bounce candidates sometimes require some patience to change directions, so I’m going to leave my trade parameters as-is heading into Monday. If the bounce continues, I’ll abide by my stop loss.

Closed Positions:

No closed positions.