Good evening StockBandits!

The major averages once again were unable to make much headway today as the NAZ gave up a few points while the senior indexes added a few.  All in all, the bulls simply maintained their position.

We are still waiting for some better momentum to surface this year, at least since last Monday’s big gap higher.  That of course was responsible for the bulk of last week’s gains, reminding us that most of the week was spent in a rather narrow and choppy range.  I would expect things to pick up sooner rather than later, and given that the overall trend is up, I’m on my toes watching for plays on the long side.  However, should things happen to weaken and we see some profit-taking set in, I’ll be willing to consider the short side rather than fight it.  Anything is possible, and we must be on guard for some range expansion soon, one way or another.

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: ARM, ONXX, LEAP, KIM, NAV

Swing Trading Candidates:

KIM turned higher a few weeks ago from a support zone and now is testing a resistance zone which has been validated a few times in recent months.  A move up through the $14.25 level would constitute a breakout for this stock, so that will serve as my buy point for a swing trade.

Chart courtesy of StockFinder

NAV underwent a correction last summer and fall before stabilizing, and since then it has been recovering in a healthy fashion.  Tonight the stock looks ready to start another leg higher, so I’ll be a buyer if and when it clears the resistance zone at $41.40.

Chart courtesy of StockFinder

Bullish Watch:

ARM, CAT, NAV, INCY, SPR, DAN, RAX, ARE, PHM, MTH, TEN, VCI, MDC, DF, VNQ, LZ, ONXX, MGA, TRW, BEAV, DAL, CSIQ, YGE, SYNA, SAH, KIM

Bearish Watch:

FAF, NFLX, PBR, ANF, LEAP, TRV

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 NAZ held up nicely for most of the day on Friday, outperforming the other indexes until the final hour arrived and they went positive as well.  The S&P 500 was able to go 5-for-5 on the week, creeping higher each day after the initial jump start.  For the overall market, the momentum was very muted beyond the opening minutes of the week, and for the most part it seemed as though the bulls were most interested in protecting those early gains rather than building aggressively on it.  All in all, Friday was a fitting end to a rather lackluster week, with Monday’s big gap being the exception.

This next week we’ll see if the buyers can step up their efforts, but many individual names have become short-term extended after the past 3 weeks of upside.  That places added importance on not forcing new trades, as I don’t want to chase stocks higher.  Uptrends are still in place across the board though, and therefore I also have no interest in aggressively fading this rally until there are technical reasons in place to do so.  As of yet, that isn’t 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: CERN, YGE, FLIR, NTRI, PCU, STEC, MTL, EOG, PFCB, HOC

Swing Trading Candidates:

HOC turned solidly higher last week on strong volume, and has since rested for a few sessions.  This bull pennant looks poised for higher prices if this one can clear the upper trend line at $29.20.  I’ll be a buyer if that occurs.

Chart courtesy of StockFinder

Bullish Watch:

PCU, CNX, STT, APH, MHP, CERN, HOC, CAAS, CSIQ, YGE, STEC, FLIR, SYNA, XOP, SAH, MTL, CHK, EOG, APC

Bearish Watch:

NTRI, PBR, PFCB, EXC, TRV

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 relatively flat open this morning was soon followed by some modest selling as cash was raised and yesterday’s lows were undercut.  The weakness didn’t stick however, and a v-shaped bounce took the indexes back up to their opening levels by mid-morning.  That proved to be the most exciting portion of the day, as stocks remained relatively flat and quiet once again for the remainder of the day.  The S&P 500 and DJIA were able to tack on some minor gains, but all in all it was another uneventful day.

I was checked out of my swing trades today to return to cash tonight.  That wasn’t by design, but it’s fine with me given that tomorrow’s jobs report ahead of the bell could deliver a gap in either direction.  It seems as though traders have been taking the wait and see approach since the gap higher on Monday morning, so hopefully we’ll see some better price action tomorrow than we’ve had the past few sessions.  It’s been a profitable week of trading though, which is nice for the lack of movement out there.

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: HOC, MHP, AXP, FDX, STT, PBR

Swing Trading Candidates:

STT has been recovering since its correction, and it has been acting well in recent weeks.  I’m watching it here as it sits beneath a trend line, which if crossed, will trigger a buy for me at $45.00.

Chart courtesy of StockFinder

PBR broke down in early December, and since then has struggled to bounce.  Here it’s contending with some overhead resistance while resting on a rising trend line.  A break down through the rising line at $48.00 will trigger a short sale for me as this one heads lower in search of buyers.

Chart courtesy of StockFinder

Bullish Watch:

HOC, SFSF, TCO, EOG, FLIR, EQR, PCL, ARE, VNO, STT, CAGC, RDN, MHP, MDVN, CYH, SNDA, ROK, HPT, MATK, AVB, AXP

Bearish Watch:

PBR, FDX

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!

Once again the major averages were unable to make any meaningful headway today, finishing little-changed on the session.  Volume was down from yesterday’s levels, and for the most part yesterday’s trading ranges were respected.

The bulls got off to a very hot start Monday morning, but since then they’ve been unable or unwilling to build on it.  They are either taking a breather here or we are seeing some churning at these levels with selling offsetting underlying strength, but either way it’s offered us no momentum to speak of, save for a few select groups (coal, energy, solar stocks and a few others).  While we wait, I’m doing my best to stay patient.  It’s going to be a long year with many opportunities, so I have no interest in forcing trades at this point.  It has already been a very good week of trading with the plays highlighted here, and that’s a good spot to be in as it allows us to be selective.  That’s my game plan heading into tomorrow, as I’m looking to keep my trading timeframes brief and stay on watch for the arrival of some better setups and momentum.

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: EQR, PLD, RDN, CBS, NTRS, MED

Swing Trading Candidates:

NONE TONIGHT

Bullish Watch:

EOG, CYBS, DOV, HNT, EQR, SBAC, PCL, MYGN, ATLS, PLD, RDN, INFA, RIGL, SNDA, FLR, ROK, HPT, MATK

Bearish Watch:

EXPD, CBS, RC, NTRS, MED

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 bulls were unable to produce upside follow through today on the heels of yesterday’s hot start, but they were able to put together the next-best alternative by not giving up any ground.  The major indexes finished little-changed, ultimately marking a day of well-deserved rest.  Tests of the downside were shallow and unable to stick, indicating an absence of sellers at the moment.  Things can of course turn at any time, but for the time being, the trend is still up.

Once again tonight I saw many stocks which are in good overall health, but few of the tight setups I really prefer to play heading into tomorrow.  I’m taking the conservative approach and a limited list as a result, but would expect more setups to come along soon.

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: PCL, HANS, ROK, ESI

Swing Trading Candidates:

NONE TONIGHT

Bullish Watch:

MYGN, KSU, WIT, NUAN, PCL, HANS, PLD, SEED, INFA, DECK, LUV, ADS, ROK

Bearish Watch:

ESI, PBR

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 bulls kicked off 2010 with a loud and clear message that they don’t intend to step away after last year’s solid performance.  A gap higher this morning translated into a NAZ open which was 25 points higher than its close last Thursday, putting not only it but each of the major averages in new high territory.  Volume also returned to better levels as traders returned to start the New Year.

We’ve seen considerable strength in just the last couple of weeks with only a few days worth of rest in recent days.  Today’s pop higher reminds us that often times strength brings more buyers into the picture, and given last year’s index moves, it’s no surprise that cash was coming off the sidelines today in case the run continues.

In looking through a large number of individual charts tonight, I noticed many strong stocks but relatively few new setups for tomorrow.  Sometimes that’s the case, so rather than chase this move, I’m looking to take the cleanest setups I could find heading into tomorrow.

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: DECK, MDVN, ADS, INFA

Swing Trading Candidates:

INFA surged higher after a breakout in December on heavy volume, and in recent sessions it has put in some needed rest with only a shallow pullback.  Today the stock turned higher within its consolidation on increased volume, indicating it’s ready to challenge the trend line just overhead.  I’ll be a buyer if this one can clear the trend line at $26.70, which could free it up to begin another leg higher.

Chart courtesy of StockFinder

Bullish Watch:

CBS, CBT, STT, FMCN, INFA, DECK, RRD, IOC, UAUA, MDVN, CYH, LEAP, VECO, NEP, APL, ADS, OVTI, FLR, CERN

Bearish Watch:

FDO

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

Happy New Year StockBandits!

It’s great to be back at full speed, and I hope the holidays were a wonderful time for you.  I was able to spend some nice time with family, including getting to experience an actual blizzard in Oklahoma, and the break from the markets was a healthy one.  Hopefully you were able to spend some time focusing on other things and put together some plans for how you want to approach 2010.  I’ll have a specific New Year’s post coming this week in which I’ll be addressing some goals here at the site, so be on watch for that in the days ahead.

While we were away, the indexes were able to climb higher to hit new highs on the year, although they slipped slightly on the final day to finish a short distance from their best levels of 2009.  Thanks to the March – December rally, the indexes were each able to post solid gains on the year, and those uptrends are still very much intact.

Here at the site, our swing trades were net profitable again in December to cap off 6 consecutive months of gains (July, August, September, October, November, December).  Consistency is of course the aim here, so it has been nice to find that for the past 6 months.  Hopefully we can tack on many more going forward.  I’m sure glad you’re a member here and that you’re seeing the value of membership.  We’ve seen more conversions from monthly memberships to the annual plan lately, and for good reason.

As we head not only into a brand new week of trading tomorrow but also as the New Year gets underway, I just want to remind myself and you that great trading does not require bold or outlandish action.  It does not require the ability to predict future movements or forecast why or when the market will be on the move.  Rather, it DOES boil down to patience in finding plays and letting them develop, as well as discipline with cutting losses and sticking to a game plan.  That’s what I’ll be doing in the months ahead, because I know from a dozen years of trading that over time that method works very well.  That gives me confidence that 2010 can be yet another year for account growth.  And while I’d like to get off to a great start this year, the pressure of doing so is removed based upon that confidence.

Just as the end of the year holds some unusual cross-currents, the very beginning can as well.  In years past, we’ve seen big moves take place early in the year, so it’s important that we are ready for that in case it happens again.  Hunting for the best setups in the charts is what will guide us in the right direction, so there is no substitute for doing our homework.

In tonight’s video, I’ll be of course discussing the overall market and several setups of interest heading into tomorrow.

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: IOC, LUV, NEP, NEM, LEAP, FMCN, FLS, WYNN

Swing Trading Candidates:

LEAP has pulled back slightly in recent days but in a shallow fashion, indicating it is simply seeing a rest on the part of buyers rather than true distribution (selling).  A push back above the trend line at $17.85 should put this one back on the move, and I’ll be a buyer if that occurs.

Chart courtesy of StockFinder

FMCN broke out through its prior high in December on heavy volume, and has pulled back gradually to test that former resistance level.  At the same time, a small trend line has emerged just overhead, and a push through it would indicate this stock is getting back on the move.  I’ll be a buyer if this one clears that trend line at $16.20.

Chart courtesy of StockFinder

FLS is in the midst of a downtrend which started in November, and is threatening to not only make a lower low here but also break key support.  I’ll look to short sell this stock if it undercuts the $93.90 level.

Chart courtesy of StockFinder

WYNN is sliding lower and currently is sitting just above short-term support.  A break of that support at $58.00 would leave plenty of room for more selling to kick in as the stock heads back down toward former support.  I’ll short sell this stock if and when it breaks $58.00.

Chart courtesy of StockFinder

Bullish Watch:

FMCN, RDN, IOC, UAUA, LUV, LEAP, ANV, FBR, NEP, APL, WTI

Bearish Watch:

FLS, WYNN, OSK, BBY, FSYS, NEM, CAT, POT, ESV, HON, VAR

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!

Modest strength provided some needed follow through today as the NAZ continued to build on Monday’s breakout.  The S&P 500 also edged higher to reach its best levels of the year, briefly clearing the 1119 high set earlier this month, but the DJIA remained inside its trading range for another day.  Volume was expectedly light, and we’re starting to see the diminishing participation in the market as the Christmas holiday nears.

The bulls have ignored multiple opportunities in recent weeks to start another leg higher, hesitating to add to their 2009 gains.  All the while, they have done a good job of maintaining the underlying strength by not allowing any notable dips to occur.  The result has been the creation of multi-week bases on the daily charts of each of the indexes, and if the buyers want it badly enough, they’re now poised to build on those bases with another advance.  How far it carries though will depend on their ongoing resolve as we not only finish out the current year but begin a new one.

With tomorrow being my final trading session of 2009, I will not be adding any overnight positions (swing trades), but will instead stick with day trades in order to keep my timeframe abbreviated and my risk tight.  The one-day plays lately have provided some very nice moves, such as last night’s LULU and SWK, so hopefully you’ve been able to participate in some of them.

Friendly reminder: this is the final Bandit Broadcast for December. I always take off the week between Christmas and New Year’s, but have no intentions of returning to trade on New Year’s Eve since it’s such a quiet day. The end of the year is a great time to reflect, rest, and renew goals for the coming year, so I’d encourage you to do the same. I also wrote about this on the blog. This way, we can hit the ground running from the very beginning in 2010.

Please leave your comments and/or questions below if you have any, I always enjoy the interaction and will be checking in periodically over the holidays.

Chart courtesy of StockFinder

Chart courtesy of StockFinder

Chart courtesy of StockFinder

Swing Trading Candidates:

NONE TONIGHT – Will add swing trades again starting in January, but end-of-year cross-currents tend to impact traditional technical analysis so I’ll hold no more positions during December.

Day Trading Candidates:

Here are the setups I’ll be eyeing tomorrow for intraday plays, but will not plan to hold them overnight as tomorrow will be my final trading day of 2009.  As always, I’ll want to see price clear these levels before I’ll get involved.  There are only a few setups I’m interested in, as again, I do expect volume to get lighter once again.  My notes are on the charts themselves tonight, and we’ll return to the usual video format after the holidays.

Chart courtesy of StockFinder

Chart courtesy of StockFinder

Chart courtesy of StockFinder

Chart courtesy of StockFinder

Chart courtesy of StockFinder

Chart courtesy of StockFinder

There will be no Hit List tonight as we are 100% cash in terms of swing trades. Once we have open positions again on an overnight basis, Hit List posts will resume.

Trade Like A Bandit!

Jeff

Good evening StockBandits!

The market gapped slightly higher this morning to kick off the shortened week on a positive note, and more buying quickly followed.  In fact, in the opening few minutes, the market had essentially made its move for the day, and for the remainder of the session it stayed within a narrow trading range.

The NAZ led the way with a multi-week breakout, getting well clear of the trading range which has held it captive lately.  Meanwhile, the S&P 500 and DJIA each stayed beneath their highs, gaining some ground but stopping shy of new high territory.

The absence of follow through today was a reminder that shortened timeframes are likely best right now, so heading into tomorrow I’m sticking with day trades once again.

Friendly reminder: I’ll produce the Bandit Broadcast through Tuesday, December 22nd, and then be done for December. I always take off the week between Christmas and New Year’s, but have no intentions of returning to trade on New Year’s Eve since it’s such a quiet day. The end of the year is a great time to reflect, rest, and renew goals for the coming year, so I’d encourage you to do the same. I also wrote about this on the blog. This way, we can hit the ground running from the very beginning in 2010.

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: MCO, LULU, HOT, WSM, SWK, ABV

Swing Trading Candidates:

NONE TONIGHT – Will add swing trades again starting in January, but end-of-year cross-currents tend to impact traditional technical analysis so I’ll hold no more positions during December.

Bullish Watch:

NSC, NTRI, VNO, RMBS, SLG, GIL, CREE, TSTC, VISN, H, VMED, HXL, UAUA, ALK, MCO, HUN, IMAX, JASO, LULU, BID, HOT, WSM, SWK, IVN, BCSI, PAY

Bearish Watch:

WMS, BIDU, IAG, RGLD, AGQ, NEM, ABV, PWRD

There will be no Hit List tonight as we are 100% cash in terms of swing trades.  Once we have open positions again on an overnight basis, Hit List posts will resume.

Trade Like A Bandit!

Jeff

Good evening StockBandits!

The NAZ led the indexes last week with a strong showing on Friday to close out the week on a positive note.  The tech-heavy NAZ broke out once again through resistance at 2205, finishing 6 points above that key level.  The DJIA and S&P 500 weren’t quite as impressive, as they ended the week still in their trading ranges and beneath key levels at 10,500 and 1113, respectively.

This week we of course have Christmas on Friday, along with an early close on Thursday (1pm ET).  Although traders will only have 3 1/2 days to be active, it generally is a very drifty trading environment with extremely light volume.  This time of year, interest in the markets tends to get eclipsed by things like travel, family, shopping, parties, and wrapping up loose ends ahead of the New Year.  That’s perfectly alright, but we must be aware of it since the market usually behaves differently for the final 1-2 weeks of the year.  As a result, I’ll be trading much lighter this week since the liquidity won’t be up to normal standards, and I also will not be adding any new swing positions, instead focusing on shorter timeframes.

Friendly reminder:  I’ll produce the Bandit Broadcast through Tuesday, December 22nd, and then be done for December. I always take off the week between Christmas and New Year’s, but have no intentions of returning to trade on New Year’s Eve since it’s such a quiet day. The end of the year is a great time to reflect, rest, and renew goals for the coming year, so I’d encourage you to do the same.  I also wrote about this on the blog.  This way, we can hit the ground running from the very beginning in 2010.

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!

–

Video Stocks Discussed: NTRI, HUN, CYH, PVH

Swing Trading Candidates:

NONE TONIGHT – Will add swing trades again starting in January, but end-of-year cross-currents tend to impact traditional technical analysis so I’ll hold no more positions during December.

Bullish Watch:

NTRI, F, RMBS, LNCR, JOE, HUN, CYH, BEXP, LEAP, MRX, DWA, JASO, ENI

Bearish Watch:

WYNN, SINA, NFLX, PVH

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