Action Points

I posted a few more setups to watch if the market pushes higher. If you're a subscriber to the FeedBurner service, you'll have to come to the blog and click on each chart to see the full picture.

I've added a few setups to keep an eye on over the next couple of days. To avoid the craziness that normally accompanies the open, I sit out the first 15 - 20 minutes 95% of the time. I'll miss some nice trades, but it usually saves me more often than not. I also included some intraday setups I'll have my eye on the next couple of days. I think the market will trade inside the 840 - 1045 range for awhile longer, but I don't have a clue where it's headed after that.

I've included several new setups in the weekend update. Despite the weakness in the market, I'm still locating a ton of short setups that I feel offer good risk to reward opportunities. I also added a few intraday ETF setups to the list. I'll try to make a few posts during the week.

Breakout Setups (Click on Symbol for Annotated Chart) BIOD Biodel GSAT Globalstar EPEX Edge Petroleum STV China Digital TV Holding NTT NTT DoCoMo URG Ur-Energy CMZ Compton Petroleum BTIM BioTime CNTF China TechFaith Wireless WX WuXi PharmaTech GU Gushan Environmental DWSN Dawson Geophyisical AKS AKSteel Holdings NAK Northern Dynasty Minerals RAME RAM Energy Resources HYC Hypercom CRZO Carrizo Oil & Gas CIEN Ciena XJT ExpressJet Holdings CHRK Cherokee International AWBC American West Bancorp EMAG Emageon CADM Cardima CLXS Collexis Holding CSCX Cardiac Science TROXA Tronox FSN Fusion Telecommunications CSUH Celsius Holdings MDOR Magnum d'Or Resources SPNG SpongeTech Delivery Systems VSPC Viospace Intraday Setups (Click on Symbol for Annotated Chart) FXY CurrencyShares Japanese Yen SKF ProShares UltraShort Financials UYG ProShares Ultra Financials UYM ProShares Ultra Basic Materials QID ProShares UltraSh

I went through a few charts tonight and found a few that should do well if the market continues to push up. To control the risk, I'll be using the 8 SMA via the daily as a guide for a stop. I didn't come across any new short setups that I didn't already post over the weekend. Click on each chart to see the full picture.