Swing Trading and momentum investing stock pick newsletter and swing trading service.
Good evening StockBandits!
Last week we saw some continued gains as the indexes each stretched enough to reach new recovery highs since the March lows. That of course was follow through to the prior week’s bounce from the pullback of 3 weeks ago, but the upside was pretty modest once again. The NAZ gained 17, the S&P 500 gained 16, and the DJIA tacked on 131 on the week. [Read more…]
Good evening StockBandits!
Afternoon strength overcame the minor weakness which we saw for much of today’s session as the indexes generally rested after yesterday’s big breakout. The buyers surfaced late, pushing the market into the green once again, but only slightly. All in all, it was a constructive day for the bulls by not giving back any of the important ground they gained yesterday.
It remains an environment in which a great number of stocks have gotten extended to the upside, and a rest at some point will be very healthy to see. [Read more…]
Good evening StockBandits!
Positive news after the bell last night from INTC was followed by additional upbeat news from JPM this morning, setting the stage for a big upside gap on the open. With the chance to book some overnight profits, the bulls opted to maintain the early gains and build on them into the afternoon rather than move to raise cash. The result was new recovery highs across the board as each of the major averages cleared key resistance levels.
After a V-shaped move right to resistance, quite a few stocks were setting up with some potential lower highs. However, today’s big pop changes that, keeping the uptrends very much intact. At the same time, the V-shaped bounce has kept the strong stocks on the move higher, leaving them somewhat extended and in difficult spots to initiate new buys for anything but quick flips. Needless to say, the health of the market seems to be intact, but locating plays with good risk/reward profiles at this point is proving to be a challenge.
Before we get to tonight’s video, let me just quickly remind you that you may view the video in full-screen mode by clicking what looks like an X in the player control right beside the timer. Hitting ESC on your keyboard will bring it back down to size. I’m still experimenting with video size for the next several days to find the best quality, trying yet another one tonight, so please be patient until we get it right!
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NONE TONIGHT
EL, CREE, HANS, CPX, ATLS, SYNA, TLB, FMCN, HBI, COP, AONE, RDC, EOG, PSS, GCI, WLL, AMAG
JOE, OVTI, VMC, NTES
The Hit List will be coming out soon with discussion on open positions, stops and targets, so be sure to watch for it.
Good evening StockBandits!
A pretty flat open was followed by some morning selling pressure today as the indexes moved into the red, giving the dip-buyers yet another opportunity to prove themselves. Once again, they were up to the challenge, producing enough of a bounce to return the indexes back to Monday’s closing levels. Once there, the market wasn’t able to gather any lasting traction in either direction, hugging the flat line for the remainder of the session.
As I noted last night, with it being options expiration week, I am expecting to see a decent move or two between now and Friday afternoon. I also am expecting to see more volume kick in, and it wouldn’t take much to get that.
The uptrends are still intact for the indexes, but this most recent bounce has left quite a few stocks with the potential for lower short-term highs. Light-volume bounces to lower levels are becoming more prevalent on the charts of many individual stocks, some of which I’m short (GET, DOW, FLR, SNDK), and that’s worth pointing out. As always though, keeping an eye out for potential plays in either direction is my plan, so I’m open to whatever comes along.
Before we get to tonight’s video, let me just quickly remind you that you may view the video in full-screen mode by clicking what looks like an X in the player control right beside the timer. Hitting ESC on your keyboard will bring it back down to size. I’m still experimenting with video size for the next several days to find the best quality, trying yet another one tonight, so please be patient until we get it right!
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NONE TONIGHT
SY, NTAP,HANS, ADM, TLB, FMCN, ALGN, OC, COP, GLD, AONE
JOE, TXI, A, TEN, ASH, STEC, HAWK, CLI, LEAP, FLR, REG, KRC, ACM, OVTI, SPW, VMC, ORLY, GET, GYMB, CVC, LBTYA, ROK, BIIB
The Hit List will be coming out soon with discussion on open positions, stops and targets, so be sure to watch for it.
Good evening StockBandits!
The bulls returned from the weekend after being able to dwell on last week’s rebound for a couple of days, and their confidence was intact. The morning strength held up very well, despite the lack of volume associated with a national holiday. However, as the afternoon progressed, some selling pressure kicked in and erased the early gains as traders moved to lock in profits. Once again though, the dip-buyers provided support, keeping the slide contained.
It’s options expiration week, which usually brings with it some added volume. I would also expect the post-holiday trading tomorrow and into the remainder of the week to bring some higher volume, so perhaps that’s what it will take to get this market moving. I’m still staying pretty selective and just taking what the charts are providing. Interestingly, there seem to be more bearish setups emerging than bullish, most of which are of the failing-bounce variety.
Before we get to tonight’s video, let me just quickly remind you that you may view the video in full-screen mode by clicking what looks like an X in the player control right beside the timer. Hitting ESC on your keyboard will bring it back down to size. I’m still experimenting with video size for the next several days to find the best quality, so please be patient until then!
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DOW has been acting somewhat toppy in recent weeks with the failure to clear resistance formed in September. In the past 2 weeks, the stock has sold off and bounced back, creating a well-defined rising trend line. I like the risk/reward here for a possible short sale if that trend line gets broken, so I’ll be using $25.85 as a trigger price for a short entry. My stop will be just above the bounce high (see the Hit List for stop & target levels).
GET has been trending lower for a few weeks now after a sharp turn lower from the September high. In recent days, this stock has bounced quietly on weak volume, creating a rising trend line of support which could easily get broken. A move down through the trend line at $18.95 will trigger a short sale for me, and I’ll be setting a stop not far away as I’d expect this one to work quickly or not at all. My stop and target levels are on the Hit List.
THO, TLB, HAL, M, DECK, ADM, XRTX, ALGN, YONG
JOE, STEC, HAWK, FLR, SNDK, FUQI, X, OVTI, DOW, VMC, GET, GYMB, CMC, LBTYA, AKS
The Positions Post (‘Hit List‘) will be coming out soon, so be sure to watch for it.
Good evening StockBandits!
After an initial selloff to begin the month, the major averages have rebounded quickly to recover the ground they had given back. Last week we saw the NAZ and S&P 500 each go 5-for-5 as they headed right back to test key resistance zones. The volume on the bounce was somewhat lighter than what we saw during the selloff, but the bulls still deserve the benefit of the doubt at this point. Until we see at least one bounce fail (and probably two or three), the trend is still up and it’ll be difficult to fight that.
With the market having just made a nice move higher, few stocks look good for new long-sided entries here in the very short term. It’s always my style to go with what I find in the charts, which tonight is a mixture of longs and shorts. Nonetheless, more setups will be arriving daily, and I’ll of course post them here as they come available. For Monday, I’m looking to remain rather selective while waiting to see if the bulls can clear the resistance zones across the board (the DJIA has pushed through 9854 already).
Before we get to tonight’s video, let me just quickly remind you that you may view the video in full-screen mode by clicking what looks like an X in the player control right beside the timer. Hitting ESC on your keyboard will bring it back down to size. I’m still experimenting with video size for the next several days to find the best quality, so please be patient until then!
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SNDK has been bouncing, but the bounce appears to be failing after some stalled-out price action. A rollover down through the $21 level should pave the way for some selling to kick in, so I’ll be looking to short sell this one if that occurs.
AM, TIF, THO, JEF, VQ, HBI
ORLY, VMC, SYNA, SNDK, CYOU, HAWK, STEC, ASH, A, BGC, JOE
The Positions Post will be coming out soon, so be sure to watch for it.
Good evening StockBandits!
If you’re just now arriving here inside The Bandit Hideout, let me encourage you to scroll down the page a bit and check out the Welcome post put up earlier today. It’ll explain some things to you which are important! I’m thrilled to have the new layout up and running, and I’m even more excited about the interaction it’s going to foster via the comments beneath each post. Please feel free to ask questions there and help one another out. I’ll weigh in as well!
Turning to the market, today’s action was interesting. After a pretty good bounce the past few days, this morning’s gap up certainly offered an opportunity for some selling. Anyone who was spooked by last week’s decline had a 2nd-chance exit today, and it seems as though a few of them took it. The highs were set midway through the session, and we drifted slightly lower for the remainder of the day.
Overall, the trading ranges we’ve been keeping an eye on are still intact, and today we saw the upper ends of them tested. I plan to remain selective with adding new swing trades until the range gets left behind, one way or another. In the meantime, I’ll keep my existing positions and operate on the shorter timeframes. Last night’s play in XRTX is an excellent reason why, and I hope you caught some of today’s big move there.
Before we get to tonight’s video, I want to mention 2 things:
First, view it full-screen by clicking what looks like an X in the player control right beside the timer. Second, I’ll be experimenting some with video sizes and quality here over the next several days until we get the best quality possible. The dimensions of this page are different than the old site, so I’ll experiment briefly but we will get it right. Just be patient with me is all I’d ask!
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The Bandit Broadcast for 10-8-2009
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NONE TONIGHT
AIV, AM, ADS, JEF, CWTR, ADM, GAP, FMCN, HBI
MON, STEC, TXI, RDN, QCOM, LEAP, FLR, FUQI, CYOU, R, OVTI, SNDK
The Positions Post will be coming out soon, so be sure to watch for it.
