|
04/2008
19.02.2008
Editor's
Notes
Trading
Tips:
I prefer to trade with prevailing market trend
Sector
and ETF
Watch list
Stock
watch list
Contact me
My blog
Simple stock trading
home
|
|
Markets are in choppy range
Hello,
stock markets are now in trading range. They are resting after strong downtrend move in January.
Volume on Nasdaq and Nyse is also on lower levels. It is bearish signal for me
|
 |
Trading range is in lower part of the January's downtrend move. Maximum retracement was 38-50% of previous move.
And it is another bearish point. Buyers are not coming to this market.
Also current stock market trend is negative based on my analysis (read
article below about how I use market trend). Based on all of
these info I prefer to enter short trades .
Btw:
I moved back with my family from Costa del Sol to Prague this weekend.
And city greeted with us by really strong frost. It was minus 10
degrees Celsius on Sunday morning. Cold refreshment after sunny costa's
weather. :-(
Best wishes from cold Prague ,
Richard
I prefer to trade with prevailing market trend
I like to enter trades in the same direction as is main US stock market trend. Why ? It is easier to trade. Sure.
I do not need to fight against strong trend moves.
I prepared special web page on my site about how I find what is prevailing trend and how I use it in my trading.
.... top of newsletter
Sector and ETF Watch List
I am still more biased to bearish side of
market. I did my analysis and Nasdaq-100 is weakest part. Think about
shorting Nasdaq 100 (I have already opened Inverse ETF QID Long
position)
Long
ETF watch list: GLD,IEF,EWM ,DBC,UNG,EWZ,GML
Short
ETF trade setups: XBI, several International ETFs: EWU,EZU,EWH,EWY,EWQ,EWL and Long Inverse ETF QID , SDS and FXP
This chart shows that XBI - Biotechs ETF- is trying to breakdown support near 55.
Stocks Watch List
I have my list of trade setups full of short trade setups only. I do
not have any long setup right now. But I have some possible candidates
in my long watch list for long trade if market will allow it.
Long Watch list: BMRN,SVNT,ACOR,CEF,VVUS, RATE,AUXL,ACV,QCOM, GEF,CLHB,CCC, PRGO,VRSN,CVS,GPS
Short trade watch list: AMLN,DT,EDU,PTR,GOOG,MNST,JRJC,KSS,SYY, RSH,TGT
Questions ?
I will be pleased to reply to any of your questions. Do you have
something to discuss ? Or would you like to read something in next
issue of newsletter or on my web pages or in my blog ? Let me know .
|
|
