Good evening StockBandits!

Today was one of those days where if you missed the intraday action, you wouldn’t think much happened.  However, it was a roller-coaster type of day as stocks zigged and zagged their way well into negative territory and back up to flat by the end of the session.  Momentum was fleeting in both directions, making for a difficult day for those expecting some kind of intraday trend.

Tonight we have the President’s State of the Union address, which could prove to be a market mover.  Tomorrow we have the FOMC announcement on interest rates (and the all-important accompanying policy statement on the economy) due out at 2:15pm ET, which will be the main event of the week.  Toss into the mix quite a few earnings reports, and this market will have plenty to digest in the days to come.  Currently we’re range-bound, but I don’t expect that to last long with all this news.

There are still some good trades out there, and my approach right now is to simply take the best setups, regardless of which direction.  That leaves me hedged at the moment, which is just fine in a range-bound market.  We’ll eventually see some more unified movement in the major indexes, but at the moment we’re still on hold for that as the DJIA hits new highs and the NAZ & RUT lag behind.

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!

–

Video Stocks Discussed: ARW, COL, DLB, YUM, MTL

Swing Trading Candidates:

MTL made new highs a couple of weeks ago as it cleared some short-term resistance, but it wasn’t able to hold that level and has since turned lower with several days of high-volume distribution.  Currently it’s consolidating, and looking vulnerable to another move lower.  I’ll be going short this stock if it undercuts the lower trend line at $30.60 to start the next leg down. 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:

FTK, NAK, SRZ, REE, ADTN, LRCX, HANS, ARMH, AMAT, WBS, VNO, GRT, AFL, CI, IPXL, ARW, SODA, XEC, LLL, BRKS, COL

Bearish Watch:

AEM, VFC, MSB, MOS, CNQ, INFY, BWA, DLB, MTL, YUM

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 to a news-packed week today in the mood to buy stocks, apparently not concerned with what the headlines may bring.  With the President’s State of the Union address Tuesday night, an FOMC announcement due out Wednesday afternoon, and a slew of earnings reports, there’s no shortage of potential market-moving events.

On an intraday basis, things started out rather slowly with a flat open this morning, followed by a slow grind higher.  As the afternoon arrived, the pace of the advance cooled off, but the market did a nice job of maintaining its morning gains, finishing just a short distance from the highs of the session.

Today’s buying now places the burden of proof back on the bears’ shoulders, as the indexes turned back up from short-term pullbacks.  That’s not to say this market is free from danger or another turn back down, but simply that the bulls appear intent on reclaiming their spot in the short-term driver’s seat…for now.

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!

–

Video Stocks Discussed: NAK, NVLS, MGA, CNQ

Swing Trading Candidates:

MGA is in an uptrend but has pulled back quietly within the trend.  This offers  a potential pivot for another leg higher to begin, so I’ll be a buyer if the trend line is crossed at $58.50. 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

CNQ recently turned decisively lower on heavy volume, and since then has managed only a small bounce.  In the process, a trend line of support has emerged which price is now resting on.  A break of the trend line at $42 would suggest another leg lower is starting, so I’ll be going short if that occurs.  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:

DIS, MGA, NAK, BORN, FTK, MCP, ADTN, ATML, MGIC, KBH, CVD, MHP, AMAT, CHK, BRKR, GRT, AFL, VRTX, IPXL, ARW, SODA, RIG, KLAC, SOL, JASO, RJF, YGE, NVLS, EOG

Bearish Watch:

AGU, AEM, SNI, CNQ, INFY, AB, URI

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!

For a holiday-shortened trading week, we saw plenty of action last week.  The indexes didn’t make big net moves from the prior week, but we did get quite a bit of movement on a day-to-day basis.  In the end, the action was pretty split (with Tuesday being the primary exception) between large-caps and small-caps, as the NAZ and RUT gave up some ground while the S&P 500 held up pretty well.

Overall, the uptrends in the big 3 indexes remain intact, but we’re getting some mixed signals at this point.  That’s not a big problem, and particularly during earnings season when the market is so sensitive to daily headlines, it’s a reminder to us that it’s a stock-picker’s market while we wait and see if some more unified momentum will surface.

There are quite a few stocks which are setting up for plays as we enter the week ahead, so in tonight’s video I’ll not only run through my trading plan for Monday but also add several names to put on your watch list.

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!

–

Video Stocks Discussed: NAK, GRT, ARW, SODA, OXY, VNO, VRTX, CI, SNI, FISV, IPXL, BWA

Swing Trading Candidates:

FISV is trending higher here and this brief dip on light volume offers a new pivot for a long-sided entry.  I’ll be going long if this one can clear the trend line at $62.30 on its way back up. 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

IPXL cleared key resistance recently and has pulled back to test it.  A turn higher from here would trigger a buy for me as this one clears the $22.25 level to begin another leg up.  Please note: the chart below should show $22.25 as my buy point.  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

BWA trended higher for many months in a steady fashion, but a few weeks ago turned lower on heavy volume.  Since then, the stock has carved out some short-term support, which it’s now threatening to break as the day-to-day moves become more volatile.  I’ll be going short if this stock undercuts the $67.50 level, as that would open the door for lower prices.  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:

DIS, NAK, ADTN, MGIC, CVD, ATW, NXY, UTX, BRKR, WBS, REN, OXY, FISV, SYMC, VNO, GRT, AFL, VRTX, CI, IPXL, ARW, SODA

Bearish Watch:

SNI, AEM, GES, VFC, ANF, PVH, TSCO, DECK, APD, INFY, MLM, VRSN, NKE, BWA

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!

Wednesday’s decline saw only limited follow through today as each of the indexes finished in the red, but well off their session lows.  Morning weakness eventually found buyers (or shorts willing to cover), which marked a low ahead of mid-day.  From there, we saw a gradual recovery into the afternoon, although there seemed to be no real urgency from the bulls to really push stocks higher.  In the end, the blue-chip indexes finished essentially flat while the NAZ and RUT each gave up some ground.

Tomorrow is option expiration day, which is to say there will be some additional motives causing some of the moves we’ll see due to the impact options have on equities.  Toss into the mix the fact that we’ve not seen much follow through this week in either direction, and the stage is set for more messy price action.  In sifting through hundreds of charts tonight, I saw many names which will now need to rebuild their bases before they’ll be poised for moves, whether up or down.  Bullish setups have been obliterated in some cases, while other stocks now appear somewhat stretched to the downside and could stand to rebound in the near term.

Today I got checked out of my swing short in RCII (see the Hit List for more details there), so even in a short-term pullback it’s proving to be a messy tape right now.  That may be the by-product of it being an expiration week combined with numerous earnings reports, but the point of all of this is that we have plenty of reason here grounds for shortening timeframes as a way to reduce risk.  In a market that’s so reluctant to produce follow through anyway, that’s the best way to participate in some of the moves without overstaying our welcome.

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!

–

Video Stocks Discussed: CNX, MCP, UTX, PVH, INFY

Swing Trading Candidates:

NONE TONIGHT

Bullish Watch:

LBTYA, CNX, MCP, MGIC, HANS, CVD, SRX, NXY, FDO, UTX, CHK, WBS, REN, PNK, PWE

Bearish Watch:

SNI, PVH, DECK, CNQ, APD, INFY, CMI

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!

Profit-taking hit the market hard today as the NAZ 100 chalked up an outside reversal bar while the other indexes gave up ground as well.  The intraday action was characterized by steady selling, and although we’ve seen bigger declines take place, today’s was a relentless retreat.  The dip-buyers who have been ever-present in recent weeks were nowhere to be found today, and stocks never staged an attempt to bounce.  For the day, the small-caps led the way down with the RUT giving up 2.5%, followed by the NAZ (-1.4%) and then the S&P (-1%).

Today’s slide did some short-term technical damage to quite a few charts of individual stocks, simply because it was a change of character from the slow-grind advances we’ve seen so many of lately.  Today’s bar on the charts negated quite a few bullish patterns which had been building, which gives the impression that more time will be needed before stocks are ready to resume the rally.

What I’ll be watching closest in the days to come is how the market and how individual leadership stocks respond to today’s slip.  If we see more selling kick in, it could be that we’ve seen the highs for a little while.  If instead the buyers are willing to step back in and provide support, then this could simply be the start of a basing period while the market digests the recent run and traders contemplate a challenge of resistance levels up above.

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!

–

Video Stocks Discussed: NXY, UTX, GES, DECK

Swing Trading Candidates:

NONE TONIGHT

Bullish Watch:

FDO, NXY, ACOM, BORN, FOE, ATML, ATW, CAT, ARMH, COV, AMAT, MDRX, UTX, GDP, CHK

Bearish Watch:

SNI, AEM, GES, RCII, PVA, ANF, PVH, KSS, GG, AZO, TIF, DECK, MSCI, DRQ

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 news of the day was centered around AAPL, not only for the earnings which came out after the bell but in wake of Monday’s announcement that Steve Jobs would be taking another medical leave.  That left the NAZ opening on a weak note, but a recovery took place from the opening levels as the indexes moved steadily into positive territory to make new highs across the board.

This week is set to be a full one in terms of news, even with only 3 trading sessions left.  However, the big question will be whether the news – be it economic or stock-specific – can either accelerate or reverse the slow-grind advances we’ve been seeing.  The indexes crossed key levels last week, and still have yet to gain momentum.  At the same time, they’ve had opportunities to pull back, and haven’t done so.  That leaves us in a slow uptrend where many stocks are in working their way higher but few are setting up well-defined levels for new entries.

For Wednesday’s session, there are a handful of names I’ve got my eye on, so I’ll focus my efforts there.  The trick at this point is to play the trend while respecting the risk of a pullback, because at some point we will see one.  I’m doing that by taking new entries where there’s a well-defined entry, rather than chasing names which are already on the go.

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!

–

Video Stocks Discussed: ATML, MGA, MCK, ATW

Swing Trading Candidates:

NONE TONIGHT

Bullish Watch:

LEAP, MGA, DIS, MCK, ADSK, AGU, APKT, BEAV, ADTN, MCO, DMAN, OPEN, KSU, ARUN, XXIA, FOE, RAX, ATML, USG, HANS, CVD, HLS, JAZZ, MHP, LEN, MBI, ATW, TSO, CAT, KND, SFY, SD

Bearish Watch:

ORLY, AAP, GES, RCII

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!

Hope you’ve enjoyed the extended weekend and you’re ready for a brand new week of trading.  Even though it’ll be a holiday-shortened week, it’s sure to be an interesting one as we see more earnings reports roll in, along with plenty of econ news.  By the way, be sure to keep a close eye on the earnings calendar to avoid any surprises.

Last week we saw the indexes stretch to new highs on Friday, capping off a quiet but strong week yet again.  The pace of the advance continues to be gradual, but relentless, as the bulls have maintained control of this tape since the start of September.  Some are calling it overbought, but the current pace hasn’t left the indexes too stretched in the near term, so there’s still room to rally further if the buyers stay assertive.  A rest wouldn’t be a bad thing, however, as uptrends need pullbacks along the way in order to persist over time.

We could see a weak start on Tuesday with AAPL grabbing the spotlight even ahead of earnings Tuesday afternoon with the news of Steve Jobs taking another medical leave.  That stock has been a tremendous leader, and given its presence in the Nasdaq and S&P 500, weakness there tomorrow morning could set the early tone.  Nonetheless, it will be how the market responds which will ultimately make the difference, so we’ll have to stay on our toes out there and keep an open mind.

There are still many stocks setting up for new plays, which should make for a nice trading environment in the weeks to come.  My aim is to let the patterns mature before listing them here, and even then to only take trades which are crossing important levels to indicate they’re back on the move.  Keeping tight stops remains important, as does watching out for scheduled news (econ. data & earnings primarily).  So long as we’re doing that, opportunities will continue to surface.

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!

–

Video Stocks Discussed: ATML, WYNN, HANS, ANF, OPEN, RCII

Swing Trading Candidates:

OPEN cleared resistance two weeks ago with heavy volume on the breakout, and has since pulled back to hold the breakout zone on quiet volume.  This one may be gearing up for another run, so I’m watching for a breakout from this tight consolidation which would occur when the upper trend line is cleared at $80.85. 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

RCII currently resides in a rising channel, which is a pattern that’s typically resolved to the downside.  Given that this stock appears to be undergoing a trend change since failing at resistance a few weeks ago, I’m looking to get short if this one falls below the rising channel with a break below $30.00. 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:

SPMD, ETFC, BYD, MTW, ULTA, ATPG, ADSK, AGU, MGM, APKT, VSH, BEAV, PHM, NFLX, OPEN, KSU, ARUN, XXIA, OEH, RAX, ATML, MELI, WYNN, MAS, CAVM, USG, HANS, HLS

Bearish Watch:

SNI, BVN, AEM, HMIN, AAP, RCII, ANF, MASI

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 indexes zig-zagged across the flat line today, never gaining any momentum in either direction for more than an hour or so at a time.  Ultimately, they finished slightly negative, only a short distance from Wednesday’s closing levels.

We continue to see a reluctance (so far) in this tape to commit to a direction once key levels are cleared, which has been the case for several weeks now.  The end of 2010 saw persistent dip-buying, but limited day-to-day momentum, which has kept a steady bid beneath the market.  That’s prevented any real slips to the downside, but at the same time it’s prevented the melt-up types of moves which uptrends tend to have on occasion.  That’s not necessarily bearish or bullish, but it does point to very low volatility, making this a market best suited for those with very short timeframes.

For Friday, I’m once again seeing a pretty limited list of names which look poised for moves, so rather than force trades in hopes of the market coming alive, I’ll take what it’s offering right now and make the most of it.

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!

–

Video Stocks Discussed: OPEN, ULTA, KBH, KSU, MCK, ADSK, PHM, ORLY, MCP

Swing Trading Candidates:

NONE TONIGHT

Bullish Watch:

OPEN, MCK, SRZ, ETFC, ACOM, ULTA, MIPS, ADSK, APKT, SLAB, ADTN, PHM, RVBD, NFLX, KBH, KSU

Bearish Watch:

MCD, SNI, AEM, ORLY, VFC, MCP, ANF, REE, CPX, MASI, TSCO

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 morning gap to the upside set the tone for strength today, and soon after was followed by additional buying into mid-day.  The indexes each pushed to new highs, despite the fact that the pace of the advance cooled a bit into the closing bell.  And with the averages each having broken out today, the bulls now have renewed reason to build on the existing uptrends in the days ahead.  Whether they will or not remains to be seen.

The benefit of the rest phases we’ve seen lately is that it has allowed many stocks to base and consolidate.  That’s the best way to digest the recent advances, and it should create more setups in the days to come.  There are several on my radar for Thursday’s session though, so I’ll take it one day at a time and stick with what the market’s providing now.

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!

–

Video Stocks Discussed: ADTN, PVA, GES, ANF, MCP, APKT

Swing Trading Candidates:

APKT cleared the prior highs two weeks ago with a high-volume advance, and since then has been able to consolidate in a healthy way on quiet volume.  This one is coiling just beneath a trend line here, so I’m looking to get long if it can clear the $61.50 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:

LBTYA, KEM, CVH, MMR, FR, CVI, AGU, MGM, APKT, SLAB, VHC, VSH, CVG, PVA, ADTN, MCO, PHM, CCME, LNG, IGT, PL

Bearish Watch:

MCD, BVN, AEM, HMIN, GES, RCII, MCP, ANF, LO, REE, CPX, PVH, KSS

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 indexes saw upside gaps this morning as the futures exhibited early strength on the heels of yesterday’s lackluster action.  However, additional strength never materialized as each of the averages ultimately saw gap fills and a return to positive territory by the closing bell without eclipsing the morning highs.

We’ve seen plenty of choppy sessions of late, and today’s can certainly be added to the list.  The overall market continues to sit in a bullish holding pattern here, resting near highs without giving up any ground or gaining any momentum.  As a result, I’ve done very little in recent days, opting instead to sit on my hands and wait for better opportunities to surface than the occasional quick-flip trades.  So far, I don’t regret it.

Some are pointing to the pervasive bullishness and the slowed pace of the advance as a reason for caution here.  There are always reasons for caution that we should each respect, but typically when sentiment gets out of hand is when the moves become too sharp too fast, and thus become ripe for a reversal.  The technical situation we currently find ourselves in could of course deteriorate, but so far we have no evidence in the price action of that happening.  As such, the bulls remain in the driver’s seat for another day and I have no intention of embracing the bearish side until there are technical reasons for doing so.  Once we have that, I’ll certainly be willing to shift directions.  Let’s see what tomorrow brings.

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!

–

Video Stocks Discussed: KEM, MCK, VHC, WDC, GES

Swing Trading Candidates:

NONE TONIGHT

Bullish Watch:

LBTYA, KEM, NTAP, ANR, SRZ, APA, CVH, MNTA, ACOM, APC, NXPI, MHR, FR, FTK, MCK, ULTA, BSFT, DFS, MU, ABV, AGU, IDCC, HUM, SLAB, VHC, MIPS

Bearish Watch:

MCD, WDC, BVN, TGT, HMIN, ORLY, GES, RCII, VFC, ANF, LO

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