Good evening StockBandits!

The indexes posted minor gains today (with the exception of the DJIA being down 2 pts.) as morning strength failed to generate any lasting momentum.  The intraday highs from Tuesday were tested and held, but the buyers kept bids beneath the market to prevent any downside progress.  As a result, it was a choppy, range-bound day despite the fact new closing highs were made.

The relatively quiet sessions we’ve seen in recent days have had me for the most part biding my time while waiting for more swing setups to emerge.  I’ve been patient in that regard, and tonight there are some new candidates which I’ve added to the Hit List and will discuss in the video below.  There are also some setups I like for trades on the shorter timeframes (day trades) which look to have some nice potential for the final day of trading this week.

For me, the key right now is to wait for trades to come to us, rather than try to force trades while the market is essentially consolidating.  Keep that in mind with tomorrow being Friday, as it’s easy to try to cap off a good week or recoup losses ahead of the weekend and end up lowering your standard and finishing frustrated instead.  Take your signals as they come, but if they don’t, there’s no shame in sitting on your hands and letting the trades come to you.  I was reminded of that this afternoon with some impatient trades I took, and I paid for it.  Discipline is a habit, and it’s important to reinforce it daily in every aspect.  I’m looking to get back on track tomorrow and head into the weekend in a better frame of mind – hopefully you will to!

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: CERN, VMC, MOTR, LVS, MASI, PVH

Swing Trading Candidates:

MASI is in an uptrend but over the past week has pulled back within the trend.  Today the stock perked up a bit on increased volume, and it’s now just a short distance from clearing the small descending trend line overhead.  I’ll be going long upon a trend line break at $31.75, as that could free up this stock to move higher once again.  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

PVH has put in some healthy rest over the past few days after tagging new highs last week.  This stock is sitting in a well-defined falling wedge pattern, and these patterns are often resolved to the upside.  I’m watching for a move up through the trend line at $69.40 to trigger an entry on the long side as the uptrend continues.  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:

PVH, SKS, GES, TZOO, VSH, THQI, VMC, RIG, AA, JNPR, APC, MWW, ATML, CVH, CERN, ETFC, CLD, ULTA, DIG, MASI, PVA

Bearish Watch:

MOTR, MMYT, AGU, LVS, LO, WYNN, MICC, MMM

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!

Today doesn’t look like much on the surface, other than some minor gains in the major averages.  However, it was technically important as the S&P 500 finally posted a close above the early-November high at 1227.  Tuesday’s failure to do so after trading above that level earlier in the session gave rise to some caution, but today the buyers nudged the blue chips past that threshold to produce a breakout on a closing basis.

The NAZ continued to climb beyond 2592 (cleared on Monday), and although it could use a rest it doesn’t seem ready to do so.  It cleared resistance a few days ago, but until today didn’t have the sympathy strength of the S&P to help validate the breakout.  We now have both, which gives the bulls continued hope as we head into the end of the year.

Interestingly, many stocks could still use some rest here, and there are also plenty which are in correction mode.  I’m not at all opposed to trading the long side with a shortened timeframe heading into tomorrow’s session, and have a few bearish setups on my radar as well.  So, we’ve cleared the trading ranges, but we can’t yet ignore their presence just a few points below current levels, as it wouldn’t take much for this market to fall back inside the range.

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: VRSN, CVH, RHI, JNPR, CERN, CLD, ULTA, WYNN

Swing Trading Candidates:

WYNN has corrected from its peak but hasn’t been able to rebound since it stabilized two weeks ago.  This one appears vulnerable to another selloff, so I’m watching for a break of support at the $100 level to trigger a short sale. 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:

RHI, BIIB, ACOM, CPO, CODE, VRSN, CY, SODA, CCK, RIG, JNPR, BRCM, MWW, CVH, ETFC, WOOF, TTWO, CERN, CLD, MCO, ALXN, ULTA, ESRX

Bearish Watch:

MMYT, JKS, BORN, MICC, LVS, LO, FRO, ITRI, DWA, CMG, WYNN, HOGS, EC

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 big upside gap kicked off today’s session as an influx of buy orders followed the news of Obama’s support for prolonging the Bush-era tax cuts.  That same enthusiasm proved to be the culprit for profit-taking by the smart money, as the open marked the high of the day and the market spent the rest of the session giving back its gains.  By the closing bell, the indexes (with the exception of the RUT with a 1% gain) finished flat.

Today’s action doesn’t necessarily mark a turning point, but was simply some profit-taking into news-related strength.  We often see that take place, so to see the bulls use an opportunity to capitalize on strength is no surprise.  Each of the indexes are still sitting right at new 52-week highs, as each of them marked new intraday highs today.  So for now, the S&P is still respecting the 1227 level on a closing basis, and that index will need to get over the hump in order to get things rolling again in the near term.

Tonight I’m doing a free webinar with the fine folks over at Worden (makers of the charting program I use). The webinar has been scheduled for a few months, and anyone can attend, so I’d love to see you there. Even if you can’t make it live, if you’ve registered you can still view a recording. I’m planning to work through many charts of interest and discuss the current trading environment.

With that being the case, and with my time availability running tighter at the moment with a brand new baby, the webinar will take the place of tonight’s video Broadcast. I’ll post a quick list of trade candidates in written format here for Wednesday’s session, and then will likely return to full speed on Wednesday evening here (fingers crossed).

For Wednesday’s session, these are the stocks which are on my radar and the triggers I’ll be using for entries, all on the long side:

VRSN long with $35.75 trigger

WYNN short with $100 trigger

LVS short with $47.40 trigger

MIPS short with $13.15 trigger

LO short with $81.30 trigger

MMYT short with $26.20 trigger

Again, thank you for understanding that on this very special occasion for my family my duties are reduced here at the site temporarily as I’ve noted it would be. When I do return to full speed (most likely on Wednesday evening) you can expect the usual Broadcast you know and love! In the meantime, I’ll do my very best to share some ideas so as to keep you in the loop.

Hope to see you in tonight’s webinar, but if not have a great Wednesday!

Trade Like A Bandit!

Jeff

Good evening StockBandits!

Traders returned from the weekend to a choppy session today as the indexes got off to a soft open but soon recovered to move fractionally positive.  The intraday ranges were narrow, as the indexes essentially marked time.  The NAZ did clear 2592 to break out to a new high, which is positive, but it wasn’t followed by vigorous buying.  That isn’t to say today’s breakout isn’t meaningful, but rather it should gain better momentum if and when the S&P 500 can accompany it with a push through 1227 (stopped at 1225 today) to join the NAZ at new 52-week highs.

There were some nice moves out there though, including NG from the Hit List which triggered an entry on Friday and today was at one point 10% above the trigger.  I have notes on it with an updated grid in a separate Hit List post, but the point I’m making is that even on a dull day in the market there were some opportunities for great moves.

For Tuesday, I’ll be back doing some trading and will also be preparing for a free webinar Tuesday evening with the fine folks over at Worden.  The webinar has been scheduled for a few months, and anyone can attend, so I’d love to see you there.  Even if you can’t make it live, if you’ve registered you can still view a recording.  I’m planning to work through many charts of interest and discuss the current trading environment.

With that being the case, and with my time availability running tighter at the moment with a brand new baby, the webinar will take the place of Tuesday’s video Broadcast.  I’ll post a quick list of trade candidates in written format here Tuesday night for Wednesday’s session, and then will likely return to full speed on Wednesday evening here (fingers crossed).

By the way, here’s a shot of my new son Tyce, my lovely bride, and my older son Rix.  Tyce & mama are home and doing great, and I appreciate all of you who have reached out to me during this exciting time for our family!

For Tuesday’s session, these are the stocks which are on my radar and the triggers I’ll be using for entries, all on the long side:

MWW $23.55 trigger

HANS $53.10 trigger

RIMM $64 trigger

HUN $15.90 trigger

FOSL $73.20 trigger

OII $74 trigger

Again, thank you for understanding that on this very special occasion for my family my duties are reduced here at the site temporarily as I’ve noted it would be. When I do return to full speed (most likely on Wednesday evening) you can expect the usual Broadcast you know and love! In the meantime, I’ll do my very best to share some ideas so as to keep you in the loop.

Go get ’em tomorrow!

Trade Like A Bandit!

Jeff

Good evening StockBandits!

Baby Bandit has arrived, as just over 24 hours ago we welcomed our 2nd child (another boy) to the world!  We are thrilled, needless to say, but the work I’d normally have done by Sunday simply didn’t happen this weekend – as I had warned if this baby happened to show up.

Over the next couple of days, I’ll be taking some time to tend to personal things (hospital releases, Dr. follow-ups, my wife, and of course our new baby), and therefore do not plan to trade.  My family is my priority, so that’s where my attention will be these next couple of days.

Our first arrived 3 years ago, and on that occasion I took a week off.  However, we’re more experienced parents now (thankfully!) and also have some help, so I don’t expect to be out for more than a couple of days.  I’ll do my best to put out at a minimum an abbreviated post here and there until I can return to full speed.  Thank you for understanding!

This market is strong, as on Friday we saw another rebound with the indexes tacking on more gains.  The NAZ needs to clear 2592 to make new highs and the S&P 1227, so we’re quite close to more 52-week highs.  If I were trading on Monday, these are the stocks which would be on my radar and the triggers I’d be using for entries:

RVBD $35.10 on the long side

BMRN $27.60 on the long side

RIMM $64 on the long side

SODA $33.60 on the long side

GSM $17.30 on the long side

CSTR $65.30 on the long side

Again, thank you for understanding that on this very special occasion for my family I will be reducing my duties here as I’ve noted in recent weeks.  It’ll be a short break, and when I return to full speed you can expect the usual Broadcast you know and love!  In the meantime, I’ll do my very best to share some ideas so as to keep you in the loop.

Next update I’ll try to have a picture ready for you too 😉  See you then!

Trade Like A Bandit!

Jeff

Good evening StockBandits!

This morning we saw another strong open on the heels of Wednesday’s big rally, as the buyers apparently went home last night wishing they had more stock on their books.  They wasted little time again today in putting cash to work, and by the closing bell we saw 1% gains across the board.

At this stage of the rally, it feels as if stocks can only move higher.  However, as traders we know that’s a dangerous mentality to adopt.  The bigger picture is still showing the indexes in trading ranges, although each are now facing key levels after moving to the upper ends of those ranges.  We just saw support get respected early this week, so if resistance happens to hold in the same manner, this would prove to be a better spot for booking profits than in adding long-sided exposure.

Tonight there are fewer stocks on the radar heading into Friday’s session, as the market ramp has eliminated many bearish setups and left many bullish setups short-term extended.  Rather than short strength or chase stocks which have already made big runs, the prudent move here in my opinion is to shorten trading timeframes and exercise some discipline while we wait to see whether or not the range will persist (read: resistance holds).  This would be a logical spot for some profit-taking to kick in, but instead of becoming overly anticipatory it’s best to simply raise our level of caution and participate in the short-term moves as we close out the week.

**As a reminder, my wife & I are expecting a baby in the next 3 weeks and our first arrived 4 weeks early. So, I could drop off the radar anytime when 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: RVBD, MWW, HANS, BID, TSL

Swing Trading Candidates:

NONE TONIGHT

Bullish Watch:

RIMM, ORLY, CODE, MEE, NG, NOV, RIG, TWI, RVBD, MWW, MSCC, HANS, SIG, BID

Bearish Watch:

BIDU, MCP, TSL, MOS

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!

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!

–

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