Wednesday, April 27, 2011

Two more triggers today!

Hi there once again.
 
We have had two more triggers today in UA and NFLX.  They are now very much oversold (which is great for us) due to profit taking.  It is earning season, so we will watch closely to see how they recover from this, but there could really be some big bucks to me made from these two trades.  They have been consistently trending higher over the last few months - and these are very tradable charts.  Getting into the action just after earnings can be a very difficult thing to judge, but happily my triggers and confirmations will give us the direction to place our trade.  IRM is still not tradable - yet!  I am still awaiting confirmation that it is going to go in the right direction - hopefully it should be sooner rather than later, or else we will have to take it off the trigger list and wait for something else to happen!
 
IWM is offering an interesting scenario - It has hit resistance and rebounded... I am very nearly tempted to play a put play here over the next couple of days.  There could be some cash to be had here - even if it is a modest 10-20% gain.  Do I want to risk it???  The trend line is going higher, and it is not in my main strategy - however it is a strategy we could play...  I think I am passing, and we will see what happens if it hits the resistance again.  If it breaks through, I will probably buy because it is trending upwards.  Because it is trending upwards makes me nervous about buying a put at this time.
 
Anyway, a couple more stocks have been added to the watch list, and it currently looks like this:
 
RS:
 
BIDU
MELI
SINA
PCLN
FOSL
ULTA
MWIV
IPGP
WLK
DECK
PII
ALB
SRCL
UA
NFLX
INFA
SFLY
TPX
CHSI
NEU
SHS
KRO
CACC
AGP
 
LS:
 
MMSI
FMCN
BJRI
IRM
SLGN
PTEN
CPHD
CEVA
IL
CROX
GIII
CPX
RES
ANN
FARO
TIBX
LTD
LXU
RAX
HS
 
Happy trading.  Let's wait to see what happens in the next couple of days and we may have a trade.

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