Nothing has really changed in my market analysis we are still stuck in range. I will look to add stocks at the bottom of the range lighten up on the way to the top. When we get a confirmed breakout above the range I will look to up my equity allocation. As of this moment I am still 70% cash 10% short (FCX) 20% long. Most of my trades have been in a shortened timeframe as we are still range bound. Its a scalpers market right now.
On the setups. I'm going throw in some shorts here since I noticed all most everybody on the BOWS right now is strictly long only. Always have to have some goods shorts in the bag. A great shortsetup will often work even when market is going up.
Focus List:
There are lots of charts today. Support and Resistance levels are marked, along with some notes within charts. If you have any further questions, send me an email.
I HAVE 3 STYLES THAT I TRADE ALL EQUALLY. swingtrading, momotrading, and smallcaps. below are some swings (great for partimetraders)
: RIMM, VRSN, CAVM, RRAAY
these
Rubber Band Setup: POT —-1 more big down day in this a break throw 100 towards 96 will setup a nasty rubberband snapback play
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On the smallcap side I am watching $paet (strong break obove 4) $fbp (2.3s) $ldk (6.5-6.7) $chln (4.10-4.15 stop at 3.9) (which i have) $bee (1.8s) $hpj (for a short if it doesnt breakout)
Nflx not ready yet but a light bounce towards the 50dma will setup a bear flagBullish: $MMM, $SOLFBullish Breakouts
Kong looks to be breaking down…terrible volume pattern a break below through the triangle and m.a. can be scalped or if ur swinging a buy in the triangle with stop above in the 11.55 area.
