Bandit Broadcast for 11-28-2010

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