Day trading a market top?
You will lose most of your money if you don’t recognize a potential change of trend.
It may be too early to call that but we are back into the four month trading range…
All technical signs pointed to a perfect pause, after a breakout, but SPY profit taking began and it was loaded with an increase in volume. If you had a solid trading game plan coming into the day, you had trade scenarios on both sides of the market.
You may never need them, but having trade ideas for both long and short is a good practice.
SPY Profit Taking or Early Short-Selling?
Stocks to Trade |Wednesday May 27, 2015
- Airline stocks continue to take a hit
- Casinos new lows.
- Looking to be a buyer after the first push lower.
Interesting Chart Lessons:
$TWTR Twitter looks like it will hit $30 before it see 40 again.
Earnings in play today > 1M avg shares: COST, CHS, DSW, FRO, KORS, PANW, TIF, TOL
Bullish Ideas ATR/Volume/Price: YOKU, CTRP, HLF, TSLA, CBI, SWKS, CRM, HCA, YUM, AET, GS
Bearish Ideas ATR/Volume/Price: gmcr, wynn, fslr, ual, qihu, hes, apc, nsc, nov, apa, rrc, unp
Weak Stock Weak Close: adsk, anf, cenx, cnx, ddd, fcx, lvs, pten
Strong Stock Weak Close: AVGI, CTRP, CBI,
Weak Stock Strong Close: etsy
Strong Stock Strong Close: tmus, ppc
20 day Breakdown: fslr, ual, luv, adsk, lvs, wmt, afl
20 Day Breakout: CVC, DE, WY
2x Normal Volume: tmus, yoku, ctrp, luv, de, jblu, kors, fslr
Watch List Longs: JPM, COF, AET, BK, HON, ABT, BRCM
Watch List Short: kss, wmt, cvx, xom, wynn, ual, luv, ntap, lvs, glw, nue, sndk, emc, dd
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