Action Points

As everyone knows, I attach my thoughts to the actual charts so I'll be brief. I've posted the charts that I'll be paying close attention to tomorrow as well as a couple of setups that are bank related. If I do anything different, I'll post it to Twitter.

Regardless what the market does this week, I think I've posted enough setups to keep us busy. Included in the Weekend Review are some intraday setups suited for more aggressive or experienced traders. I've used the 60 minute time frame with each. As far as the market is concerned, I still think it's best to be nimble. Although I will play the occasional breakout setup, the majority of my trades have been shorts at objective and identifiable resistance levels. I get stopped out a lot, but the pain is minimal because my stops are so tight. It's really no different than I've ever traded. I've always been a singles & double hitter. I don't hit many home runs, but I rarely swing and miss. I just hit a lot of foul tips. I didn't post the spreadsheet this weekend because I'm not sure if anyone else uses it. If anyone wants me to post it, drop me an email and I'll get it up. I'll make a post during the week if I come across anything exceptional....

Breakout Setups (Click on Symbol for Annotated Chart) APWR A-Power Energy Generation Systems FCE/A Forest City Enterprises EXK Endeavour Silver Corp NGD New Gold TTI Tetra Technologies TTES T-3 Energy Services LMC Lundin Mining GU Gushan Environmental BFRM BioForm Medical IOSP Innospec OME Omega Protein NFP National Financial Partners ISSI Integrated Silicon Solution OZM Och-Ziff Capital Management RAME RAM Energy Resources SYMX Synthesis Energy Systems MXIM Maxim Integrated ISIL Intersil Holding RICK Rick's Cabaret TX Ternium SA SPRD Spreadtrum Communications SRZ Sunrise Senior Living LCC U.S. Airways Group ICA Empresas Ica Soc Control CVGI Commercial Vehicle Group NTG Natco Group TRW TRW Automotive GPOR Gulfort Energy MEE Massey Energy NBR Nabors Industries ICO International Coal Group CLUB Town Sports Intl TNL Technitrol TS Tenaris S.A. ELRN Elron Electronic Industries FCL Foundation Coal OIS Oil States ORBK Orbotech GKK Gramercy Capital FC...

I posted a few short term / daytrade setups I'm going to be watching over the next day. They are short term and aggressive, but I intend on using the tightest of stops should any reach the level where I'm willing to act. The sentiment indicators I follow signal a rally is on the horizon. Unfortunately, options expire this week which sometimes distort the information we have. If the market is weak off the open, things should get interesting. If I do anything different than what I posted tonight and over the weekend, I'll post it to Twitter. I've also made a list of some basic technical scans I use at stockcharts.com. I'll provide a link in the "Education" section of the blog if anyone needs them for future reference. If anyone has any questions, don't hesitate to let me know.

MACD Positive Cross [type = stock] and [country = us] and [daily macd line(12,26,9) crosses daily macd signal(12,26,9)] and [daily close >= 10] and [daily volume >= 100000] MACD Negative Cross [type = stock] and [country = us] and [daily macd signal(12,26,9) crosses daily macd line(12,26,9)] and [daily close >= 10] and [daily volume >= 100000] MACD Positive Cross Over the Zero Line [type = stock] and [country = us] and [daily macd line(12,26,9) = 0] and [daily close >= 10] and [daily volume >= 100000] MACD Negative Cross Under the Zero Line [type = stock] and [country = us] and [0 = daily macd line(12,26,9)] and [daily close >= 10] and [daily volume >= 100000] "Golden Cross" Scan (50 Day MA over 200 Day MA) [type = stock] and [country = us] and [daily sma(50,daily close) crosses daily sma(200,daily close)] and [daily close >= 10] and [daily volume >= 100000] "Cross of Death" Scan (50 Day MA under 200 Day MA) [type = stock] and [country ...

I didn't get to spend as much time as I normally do searching for fresh setups over the weekend. I'll make a new post sometime during the week when I come across something interesting. The "easier" trades continue to be the short setups. As I posted a couple of months ago, here is an example how I trade them. If I need to provide more or different examples, send me an email and I'll get something up. Below is the spread sheet I'll use this week for the short and long setups. It makes it easier to load everything in Quotetracker. SpreadSheet