Good evening StockBandits!

Encouraging earnings reports out of INTC and JPM set a positive tone for stocks this morning, as earnings season is just now getting underway.  The preliminary reports from big names can often rattle the market, or put it at ease, and today the latter was the case.  A gap up this morning left traders watching carefully for a possible sell-the-news response, but that never came.  Instead, stocks began to climb and they trended higher for the remainder of the session.

Today’s move was important for a few reasons.  First, it provided a nice lift within the uptrend channels for the indexes.  That lifts price well clear of the uptrend lines which have been serving as support, and as I’ve noted here recently, that separation is where the best money can be made during acceleration phases.  Second, today’s gains were considerably bigger than we’ve seen of late.  That expansion in the ranges helps to shake things up a bit in the charts, which is a good thing.  Some enthusiasm points to greater participation by the bulls, rather than simply short-covering on any minor dip by the bears.  And finally, volume expanded nicely today.  This is an options expiration week, which last night I mentioned is often accompanied by some volume spikes, but to see volume spike along with a surge in price shows ample participation on the buy side, which gives today’s move a greater degree of credibility.

Many stocks moved with the market today, but there are still a lot of great setups out there.  I’ll continue to focus on the best I can find and present them here as they emerge.

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

Here is tonight’s video:

The Bandit Broadcast Video – Click to Watch!

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Video Stocks Discussed: PCX, GGB, UYM, TEX, PMI

Swing Trading Candidates:

NONE TONIGHT

Bullish Watch:

LEA, PDCO, PCX, RDN, FNSR, PXD, VMW, ACXM, PMI, AMR, CLF, WMS, HOG, GGB, BUCY, STT, V, EMR, ZQK, FFIV, LNG, TEX, UYM, WLL, TPX, WLT, SOLF, NTAP, PRU, FTI, ROST, BZ, MDRX

Bearish Watch:

MON, AGN, SOHU, MEE, MOS

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

Good evening StockBandits!

Early weakness set the stage for a decent pullback to kick in, but once again, the buyers emerged to protect key uptrend lines in the indexes.  That sparked a gradual rally for the remainder of the session which took the market back into positive territory by the end of the day.  And while the net gains were far from impressive, it was certainly a psychological win for the buyers to once again prevent any downside from getting traction.

The S&P 500 is still struggling to overcome the 1200 level, which was support in July 2008 and hasn’t been seen since September 2008.  The uptrends which began from the February lows are still very much intact, and yet the upside has been rather limited lately.  That’s keeping me favoring the long side, but I’m keeping a close watch on my positions (and the market) in case we see things begin to slip.  I lightened up my exposure today by booking gains in a few names, but there will still be opportunities if we continue to pay attention.  That’s my game plan as we head into Wednesday.

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

Here is tonight’s video:

The Bandit Broadcast Video – Click to Watch!

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Video Stocks Discussed: ZQK, X, CENX, FFIV, MEE, PDCO

Swing Trading Candidates:

PDCO is sitting at the top end of a multi-week channel, and now appears poised for a breakout.  A move up through $31.40 should put this stock back on the move, with the next resistance still a considerable distance away.  I’ll be a buyer if a breakout occurs, and I’ll maintain a pretty conservative stop in case of a reversal.

Chart courtesy of StockFinder

Bullish Watch:

LEA, PDCO, PXD, CNW, PCL, DPZ, UTSI, WMS, SLXP, FR, V, NFLX, EMR, X, ZQK, HTZ, PEI, SKS, CENX, FCX, ANR, CRUS, SUSQ, FFIV, LNG, APOL

Bearish Watch:

CAGC, SOHU, AGN, CAG, MON, MEE, MR

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

Good evening StockBandits!

A choppy climb from the morning lows put the indexes at their best levels by the early afternoon, although none of them were up very much.  Today’s trading ranges were rather narrow, so despite some afternoon selling pressure, the uptrends on the daily charts are still intact.

The current environment continues to be characterized by a lack of big upside days (no runaway momentum), and the inability to pull back.  That’s keeping impatient bulls on edge, while keeping the bears at bay (for the most part).  Eventually this is going to change, and we’ll see volatility pick up once again.  For now however, it’s our job to make the most of the setups which do come along.

Tonight I looked through quite a few charts, and the setups I liked best will be my focus for day trades on Tuesday.  I have enough long-sided exposure with my current swing trades, so any additional trades I’ll be placing will be only for short-term moves on Tuesday.

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

Here is tonight’s video:

The Bandit Broadcast Video – Click to Watch!

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Video Stocks Discussed: ACXM, DAL, V, CAGC, AGN, RTI

Swing Trading Candidates:

NONE TONIGHT

Bullish Watch:

BA, LEA, TRW, MSG, PCL, VMW, ACXM, DAL, BAC, DPZ, AIG, UTSI, WMS, FR, STT, V, CNH, NFLX, BZH

Bearish Watch:

CAGC, AGN, MON, RTI, CAG, IAG

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

Good evening StockBandits!

Bookend gains made the difference last week as the market started and finished strong, tagging new 52-week highs across the board.  This of course keeps the uptrend intact, but perhaps more importantly, it puts a little bit of a cushion between current prices and the uptrend lines from the February low.

The same dynamic which has kept this market thriving in recent weeks still hasn’t changed, which is the fact that it’s gathering no traction on the downside.  That means there’s a constant need for short-covering, as virtually any weakness is an opportunity to alleviate pain for those caught on the wrong side of this tape.  The upside has been persistent, but no big impressive single-day moves have been seen.  As a result, prices keep edging higher, keeping the bears on the run.

Before we kick off tonight’s video, I want to make one point with regard to the uptrend lines.  They may get broken even if prices stagnate, but the break of those trend lines will only serve as an initial warning that the upside is losing steam.  Many people are quick to declare an end of the trend approaching, but in reality, turning points for the indexes tend to be more of a process than an event.  The buyers have a lot of confidence right now, and that’s not likely to change quickly if and when we do see a dip.  Expect them to put up a fight, so respect the uptrend while it’s still here.

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

Here is tonight’s video:

The Bandit Broadcast Video – Click to Watch!

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Video Stocks Discussed: LEA, SANM, LLEN, BEE, BUCY, VMW, WMS, STT

Swing Trading Candidates:

VMW is nearing the upper end of its rectangle pattern, and may break out soon.  I’ll be a buyer if this one can clear $55 and start a new leg higher within its uptrend.

Chart courtesy of StockFinder

WMS is threatening to clear key resistance here, and I’ll be a buyer at $45 if the breakout comes.  There’s an unfilled gap which could easily get filled if this one can get on the move, and room beyond that level to run higher as well.

Chart courtesy of StockFinder

STT has been quietly working higher in recent months after a big correction, and now the stock is hitting upper resistance of an ascending triangle pattern.  This one could easily accelerate higher if it can clear resistance at $47.50, so I’m looking to get long if and when that breakout takes place.

Chart courtesy of StockFinder

Bullish Watch:

COL, BA, LEA, PDCO, RDN, CREE, MSG, FO, LLEN, PCL, VMW, JOE, SKX, SWK, ULTA, UTSI, ALXN, WMS, SPW, BEE, HLX, BUCY, MPWR, SLXP, SMOD, FR, STT

Bearish Watch:

CAG, MON, SANM

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

Good evening StockBandits!

A gap down this morning saw only limited follow through, as some minor selling after the open ultimately marked the lows of the session.  From there, stocks turned higher with a steady uptrend setting in for the remainder of the day, carrying each of the major averages into positive territory by day’s end.

Once again, the upside wasn’t nearly as impressive as the fact that the buyers stepped in once again on minor weakness – just as they have for quite some time now.  This continues to point to short-covering since the market isn’t running higher by large amounts, and is instead simply unable to stay negative for more than a few hours.

The uptrend channels we’re in are still bullish – after all, it’s still an uptrend.  But it’s interesting to note that the action is still being driven by those on the wrong side of the tape.  I have to wonder if we’ll see some kind of upside capitulation before it’s all said and done.

Heading into Friday, I’m looking to primarily day trade some of the setups which look poised for quick moves.  The indexes still aren’t far from their uptrend lines, so some profit-taking could still emerge from here.  If we rally, I’m in some swing trades which should benefit, so I’ll be limiting additional exposure on Friday to intraday plays.

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

Here is tonight’s video:

The Bandit Broadcast Video – Click to Watch!

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Video Stocks Discussed: LEA, VMW, SWK, PCX, JOE, DAL, WMS, NTRI, DWA

Swing Trading Candidates:

NONE TONIGHT

Bullish Watch:

BA, LEA, CISG, CREE, PCX, FO, PCL, VMW, JOE, DAL, CEDC, UNP, SKX, DPZ, SWK, SFLY, LZ, UTSI, HOG, WMS, ESRX, IVN, SPW, BEE, NTRI

Bearish Watch:

CAG, ENDP, DWA

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

Good evening StockBandits!

The market fluttered around in a choppy trading range for most of the day, staying in negative territory with no momentum.  Some afternoon selling pressure ultimately made the biggest difference, leaving the indexes underwater but still not far from Tuesday’s closing levels.

The only event of technical significance took place in the DJIA, which has been the lagging index among the big 3.  Today it broke its uptrend line from the February low, which doesn’t yet point to a change of direction but rather a change of pace for the existing trend.  It may be an early warning signal that some weakness could set in, but the short-term trading range is still intact, and price was bound to eventually undercut the uptrend line even if it simply moved sideways.  The NAZ and S&P 500 are both still hovering above their uptrend lines, so we’ll continue to keep a close watch on those levels just in case they happen to weaken.

Tonight I see no new setups which interest me for a multi-day timeframe, so my focus tomorrow will be on managing those stocks already on the Hit List, while looking to do a few day trades if they happen to trigger entries.  Remember, good trading is about knowing when to do more and when to do less, and from the looks of the charts tonight, limited activity on Thursday seems to be warranted.

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

Here is tonight’s video:

The Bandit Broadcast Video – Click to Watch!

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Video Stocks Discussed: LEA, HOG, FO, MSG, CREE, VSEA, ALXN, F

Swing Trading Candidates:

NONE TONIGHT

Bullish Watch:

LEA, GGC, CREE, MSG, CNW, PCL, AMLN, UNP, SKX, DPZ, SWK, UTSI, VSEA, TXRH, HOG, ALXN

Bearish Watch:

CAGC, MON, CAG, ENDP, F, PBR, CEPH, CHK, SY, SANM

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

Good evening StockBandits!

Stocks began the day with a weak tone this morning, but buyers stepped in rather quickly to produce some steady upside from there.  The indexes were all able to move into positive territory by the afternoon, with the NAZ and S&P 500 both reaching a new 52-week high as the DJIA edged toward 11,000.  Things cooled off later in the session however, with the indexes finishing the day mixed and just a few points from Monday’s closing levels.

This remains an environment in which stocks are holding steady or rallying, but very few are pulling back or losing ground.  Such is the nature of a strong uptrend, and it certainly is deserving of respect, but it’s still wise to carefully consider each new purchase at this stage in the game.  There are still quite a few bullish charts out there, so the key is to weigh the risk/reward for each one, and consider whether the stock is short-term extended or has been basing.  I’ve been finding some of these in recent days, and will continue to highlight them here while this remains the case.

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

Here is tonight’s video:

The Bandit Broadcast Video – Click to Watch!

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Video Stocks Discussed: FO, SKX, SWK, MON, F, MSG

Swing Trading Candidates:

MSG is sitting in a high channel or rectangle pattern near highs, and today’s uptick in volume suggests a breakout may be coming any day.  I’ll be a buyer if this one can clear the $22.15 level and start a new leg higher within the uptrend.

Chart courtesy of StockFinder

Bullish Watch:

LEA, LPNT, HMA, GGC, PDCO, MSG, FO, TMK, PCL, CNW, KSU, DMND, VMW, PFCB, JOE, VTIV, ROK, DAL, BAC, UNP, RQI, CATM, SKX, DPZ, EZCH, AA, SWK, SFLY, ULTA, LZ, TRMB

Bearish Watch:

CAG, MON, CAGC, ENDP, F

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

Good evening StockBandits!

The long weekend kept the buyers away for 3 days, but today they returned with enough push to propel the DJIA and S&P 500 each to new 52-week highs.  The NAZ stopped just a few points shy of short-term resistance, but all in all it was another positive session in every way.  Early strength was quickly followed by some additional buying, but from there things leveled off considerably with a narrow trading range for the remainder of the session.

We did see a rest phase in the past 2 weeks with merely some lateral price movement, and that has thus far proven to be of benefit to many individual charts.  Stocks which were able to consolidate, even briefly, are now back on the move again to continue their uptrends.

The trading environment remains an interesting one though.  There’s persistent strength, which so far hasn’t abated.  At the same time though, the intraday action continues to lack the spark that most active traders really desire.  The daily trading ranges have been narrow, exhibiting a lack of volatility, which in turn keeps opportunities limited to the daily charts in most cases.  Eventually that will change, and more movement will appear on the shorter timeframes, but for now we’ll take what the market has to offer and make the most of it.

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

Here is tonight’s video:

The Bandit Broadcast Video – Click to Watch!

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Video Stocks Discussed: VTIV, UNP, SKX, DPZ, MON, GGC, CAG

Swing Trading Candidates:

GGC just established a higher low on the daily chart and now appears ready to push through key resistance.  A move up through $19.15 should put this one back on the move, so I’ll be a buyer when that occurs.

Chart courtesy of StockFinder

CAG turned decisively lower a couple of weeks ago, and since then the stock has been unable to make much lasting upside progress.  A bearish rising wedge has emerged on the daily chart, and a confirmation of that pattern would take place with a break of the lower rising trend line at $25.  I’ll be going short this stock if when that break happens.

Chart courtesy of StockFinder

Bullish Watch:

GGC, TIE, FO, BID, TMK, LLEN, PCL, A, KSU, RCL, R, PFCB, JOE, VTIV, MLNX, ACXM, BAC, CRL, CLF, CBL, UNP, RQI, CATM, SKX, DPZ, EZCH, KEY, CIGX, MEE, AIG

Bearish Watch:

CAG, MON, ENDP, F

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

Good evening StockBandits!

The 2nd Quarter started off with more upside on Thursday, as traders wasted no time in bidding stocks up once again ahead of the long holiday weekend.  Although the early strength did fade during the session, enough afternoon strength emerged to propel stocks back into positive territory.  The senior indexes led the way with the DJIA and S&P 500 each tagging new 52-week highs, while the NAZ lagged slightly.

All in all, this remains a very strong environment.  We haven’t seen the kinds of big point gains on a day to day basis which previous advances have allowed, but the buyers are doing a nice job of holding their ground and not allowing much downside either.  In fact, about the only thing we’ve seen aside from upside is some lateral consolidation, which has been very helpful for individual charts to construct new bases.

As we head into this week, I’m keeping an eye on a number of stocks which have put in some needed rest in recent days, and that may serve to keep things afloat for a little longer.  Now that the indexes have been able to consolidate for several sessions, they may also attempt to head higher from here once again.  The uptrend lines are still to be watched closely, but at this point we have no technical reason to expect a pullback or reversal until those get broken.

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

Here is tonight’s video:

The Bandit Broadcast Video – Click to Watch!

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Video Stocks Discussed: LPNT, PCL, RCL, R, BAC, CAG

Swing Trading Candidates:

CBL spent several weeks in rally mode before putting in some needed rest just recently.  The pullback has been mild, and the volatility has contracted, creating this large bull pennant pattern.  A breakout at $14.30 would clear the upper trend line and put this one back on the move.

Chart courtesy of StockFinder

Bullish Watch:

DLTR, LEA, GD, LPNT, CISG, PCX, CTEL, LLEN, PCL, CNW, RCL, R, DAL, CEDC, STI, BAC, FOE, CRL, AMLN, CLF, SWC, CELG, CBL, ALKS, VAR

Bearish Watch:

MON, ENDP, CAG

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

Good evening StockBandits!

Another range-bound session today saw a weak start, a slow grind higher, then a return to lows in the afternoon.  In the end, minor downside was seen, but it keeps the indexes inside the trading range of the past several days.  That has meant a distinct lack of momentum, but at the same time it’s gone a long way toward allowing individual stocks to put in some much-needed rest.  As a result, many bases are emerging on the daily charts, which is a healthy thing.

The indexes remain stuck in between their uptrend lines from the February lows, and the highs set last week.  Until we see one of those get taken out, particularly on a closing basis, we can likely expect more of the same choppy action.

With that in mind, it’s important that we also consider Thursday to resemble a Friday in terms of market activity.  Unless some nice momentum is seen in the early portion of the day tomorrow, it’ll be a clear signal to do less in the afternoon, given that it’s the last trading session of the week ahead of a long holiday weekend.  The market will be closed for Good Friday, and traders by and large may leave their screens in the afternoon with an absence of momentum in favor of spring weather and other activities.  So, stay on your toes out there tomorrow, and if not much is happening, sit on your hands.

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

Here is tonight’s video:

The Bandit Broadcast Video – Click to Watch!

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Video Stocks Discussed: PCX, FDX, OSG, AMED, TMK, CNW, PCL

Swing Trading Candidates:

NONE TONIGHT

Bullish Watch:

CNW, PCL, TMK, CTEL, PCX, CISG, PDCO, RDN, FDX, PXD, ATVI, ACXM, GMCR, ROK, DAL, WFC

Bearish Watch:

CAGC, UTHR, MLHR, GDP, CAG, OSG, AMED, SFL, CF, EQIX, MAN, SY

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