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. [Read more…]
Hit List 10-18-2009
Bandit Broadcast for 10-18-2009
Good evening StockBandits!
Last week we saw some continued gains as the indexes each stretched enough to reach new recovery highs since the March lows. That of course was follow through to the prior week’s bounce from the pullback of 3 weeks ago, but the upside was pretty modest once again. The NAZ gained 17, the S&P 500 gained 16, and the DJIA tacked on 131 on the week. [Read more…]
Trading Lesson 10-17-2009
Formerly referred to as the Trade of the Week, this is the first post in what will now be known as the category called “Trading Lessons.” This will be a regular feature here in The Bandit Hideout where we take a look back at a trade and see what we can learn from it. It might occur weekly, or more or less often, and it may be written or video format. [Read more…]
Hideout Housekeeping 10-16-2009
Hey Bandits!
With the market having settled into a mid-day trading range on this options-expiration Friday, I felt this would be an appropriate time to put up a few items.
First… How’s the new site working out for you guys? I want your feedback for ease of getting around, anything you don’t understand, etc. Add a comment below this post or use the Contact Form and let me know!
Second… Discussion – last night Tom shared a great idea in the comments section. This is exactly what I’d like to see happening here in the Bandit Hideout on a regular basis. It’s open 24/7, and any trade ideas are welcome. All I ask is that you keep in mind that daytrading or scalping-related comments are not very effective in this blog format, as the timing is so critical for those that it should be done elsewhere since this is not a chat room. But any trades you’re eyeing for timeframes of a couple days on up to a month or two are great, and my hope is that you’ll share them here with the Bandits.
Third… Feature added: On the heels of that last discussion note, a feature has been added which should make it very easy to keep up with the conversation. You’ll now see a checkbox under the posts which allow you to subscribe to the comments for that post.
This is what it will look like:
So, once you’ve posted a comment, you can be notified via email for follow-up comments left by others. This is perfect for being notified of new ideas left by others, or simply that your comment has been responded to by someone else. You can also remove yourself from comment subscriptions easily, and the link you’ll use to do that will look like this:
Last but definitely not least…
Thanks for a great first FULL week in The Bandit Hideout! Let’s keep building on this to improve it! Your feedback is always welcomed, and your participation in the discussion is always valued.
Enjoy the weekend, and I’ll see you back here soon!
Hit List 10-15-2009
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. [Read more…]
Bandit Broadcast for 10-15-2009
Good evening StockBandits!
Afternoon strength overcame the minor weakness which we saw for much of today’s session as the indexes generally rested after yesterday’s big breakout. The buyers surfaced late, pushing the market into the green once again, but only slightly. All in all, it was a constructive day for the bulls by not giving back any of the important ground they gained yesterday.
It remains an environment in which a great number of stocks have gotten extended to the upside, and a rest at some point will be very healthy to see. [Read more…]
Hit List 10-14-2009
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.
FLR, SNDK, DOW Stopped
Open Position Notes:
GET rebounded some today with the market, but it stayed within yesterday’s trading range to post an inside day. My stop is still in place on this one and I’m willing to give it a little more time before looking to make any adjustments.
Closed Positions:
FLR worked great for us as an initial trade as it hit the 1st Target with ease. Since then the stock has struggled to show follow through, so I tightened my stop last night. Today that stop was reached, taking me out of remaining shares and giving me a net gain on this trade of 3.4%.
SNDK tried to roll over but couldn’t continue, and instead it turned higher today and pushed through my adjusted stop loss. I’m now out of this trade with a 3.1% loss, and will stand aside from it until a new pattern develops.
DOW triggered a short sale by undercutting a rising trend line, but today’s market strength brought a reversal in the stock, hitting my stop loss to take me out of the trade with a 2.5% loss. This is a small and manageable loss, and I liked the risk/reward for the trade. Unfortunately the big morning gap was simply too much to overcome, so I’ll wait for a new pattern to emerge in this stock before reconsidering an entry.
Bandit Broadcast for 10-14-2009
Good evening StockBandits!
Positive news after the bell last night from INTC was followed by additional upbeat news from JPM this morning, setting the stage for a big upside gap on the open. With the chance to book some overnight profits, the bulls opted to maintain the early gains and build on them into the afternoon rather than move to raise cash. The result was new recovery highs across the board as each of the major averages cleared key resistance levels.
After a V-shaped move right to resistance, quite a few stocks were setting up with some potential lower highs. However, today’s big pop changes that, keeping the uptrends very much intact. At the same time, the V-shaped bounce has kept the strong stocks on the move higher, leaving them somewhat extended and in difficult spots to initiate new buys for anything but quick flips. Needless to say, the health of the market seems to be intact, but locating plays with good risk/reward profiles at this point is proving to be a challenge.
Before we get to tonight’s video, let me just quickly remind you that you may view the video in full-screen mode by clicking what looks like an X in the player control right beside the timer. Hitting ESC on your keyboard will bring it back down to size. I’m still experimenting with video size for the next several days to find the best quality, trying yet another one tonight, so please be patient until we get it right!
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Video Stocks Discussed: CAT, SNDK, DOW, BIIB, PXD, VQ, SY, CERN, HANS, AMAG, EOG, VMC, NTES
Swing Trading Candidates:
NONE TONIGHT
Bullish Watch:
EL, CREE, HANS, CPX, ATLS, SYNA, TLB, FMCN, HBI, COP, AONE, RDC, EOG, PSS, GCI, WLL, AMAG
Bearish Watch:
JOE, OVTI, VMC, NTES
The Hit List will be coming out soon with discussion on open positions, stops and targets, so be sure to watch for it.
Trade Like A Bandit!
Jeff
Hit List 10-13-2009
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.
AIV Stopped, SNDK, FLR & GET Stops tightened, GET & DOW Triggered
Open Position Notes:
FLR attempted to bounce over the past week after initially breaking support and hitting the 1st Target, and I’ve been patient with it. This week it is trying to turn lower, so I’ve tightened my stop for remaining shares (1/2 position) as I wait to see if this one can begin another leg lower and head toward the 2nd Target.
SNDK was reluctant to really participate on the downside today as the market went red this morning, although it did post a decline. I’ve tightened my stop for this trade tonight just slightly in an effort to reduce risk while waiting for it to go ahead and roll over (I’m short). The daily chart also now has a pretty well-defined descending trend line along the highs of the past few weeks, so I’m using that as my stop just in case it gets cleared.
DOW triggered a short sale today as it broke the rising trend line which has marked the pace of the recent bounce. Today’s turn lower implies this stock is trying to carve out a lower high on the daily chart, so I’ll be watching for continuation in the coming days. The stabilization of the market probably prevented this one from a more decisive move down today, so I’ll stick with my existing stops for now.
GET triggered a short sale today as it undercut the $18.95 level and sliced through its rising trend line. This stock also appears to be in the process of confirming another lower high on the daily chart. Given the rather steep trend line which just got broken, I’m expecting a pretty quick move in this one, so I’ve tightened my stop slightly tonight for this trade while waiting to see some follow through.
Closed Positions:
AIV worked out well for me with only some slight early hesitation after clearing the trend line when it first triggered. Since then it has climbed steadily higher, pushing through the 1st Target relatively quickly. I have tightened my stop a couple of times recently, with the most recent occasion being last night after the stock had approached but not pushed through resistance on somewhat quiet volume. Today the stock turned lower to trigger my stop, so I’m out of the trade for a solid net gain of 5.6%.
Bandit Broadcast for 10-13-2009
Good evening StockBandits!
A pretty flat open was followed by some morning selling pressure today as the indexes moved into the red, giving the dip-buyers yet another opportunity to prove themselves. Once again, they were up to the challenge, producing enough of a bounce to return the indexes back to Monday’s closing levels. Once there, the market wasn’t able to gather any lasting traction in either direction, hugging the flat line for the remainder of the session.
As I noted last night, with it being options expiration week, I am expecting to see a decent move or two between now and Friday afternoon. I also am expecting to see more volume kick in, and it wouldn’t take much to get that.
The uptrends are still intact for the indexes, but this most recent bounce has left quite a few stocks with the potential for lower short-term highs. Light-volume bounces to lower levels are becoming more prevalent on the charts of many individual stocks, some of which I’m short (GET, DOW, FLR, SNDK), and that’s worth pointing out. As always though, keeping an eye out for potential plays in either direction is my plan, so I’m open to whatever comes along.
Before we get to tonight’s video, let me just quickly remind you that you may view the video in full-screen mode by clicking what looks like an X in the player control right beside the timer. Hitting ESC on your keyboard will bring it back down to size. I’m still experimenting with video size for the next several days to find the best quality, trying yet another one tonight, so please be patient until we get it right!
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Video Stocks Discussed: ALGN, COP, BIIB, HANS, GLD, AONE, TEN, ASH, OVTI, A
Swing Trading Candidates:
NONE TONIGHT
Bullish Watch:
SY, NTAP,HANS, ADM, TLB, FMCN, ALGN, OC, COP, GLD, AONE
Bearish Watch:
JOE, TXI, A, TEN, ASH, STEC, HAWK, CLI, LEAP, FLR, REG, KRC, ACM, OVTI, SPW, VMC, ORLY, GET, GYMB, CVC, LBTYA, ROK, BIIB
The Hit List will be coming out soon with discussion on open positions, stops and targets, so be sure to watch for it.
