AAPL Price Action Review (Update) – 12/5/2013

AAPL got a bump on the news of a deal with China Mobile. As it got near the 576/579 resistance region that was discussed in the previous video, it faded back near the 565 level. Looking at the Open Interest for the weekly OpEx, it appears there is a good possibility it will get pin at 565 or 570. But the near term target remain to be the pivot high of 594 and the trend is still up.

AAPL Price Action Review (Update) – 12/3/2013

AAPL continues to move higher after a minor pullback through the 554/555 level. The price gapped up on the open due to some analyst upgrade, that voided the opportunity for AAPL longs to add or to initiate a position. There appears to be a confluence near the 576-579. Although the near term target is the pivot high near 594, this confluence level could pose some resistance, and maybe at that level AAPL could setup an opportunity for the sideline longs. In the meantime, for those that are long on AAPL, be sure to protect your gains.

Stocks To Watch - 12/1/2013

The market has been up for eight consecutive weeks and could experience a near term pull back. The potential pull back could present an opportunity to enter a swing long on some of these high beta stocks.

Nothing Has Changed

The market ventured into another record high territory on Thanksgiving eve. All the major market indices closed at record high territory with DJIA, SP500, DJT and Russell 2000 at new all time high, while the Nasdaq 100 at new multi-year high. Nothing has really changed.

AAPL Price Action Review (Update) – 12/1/2013

Ever since AAPL found support near 114 and reclaimed the 522 resistance/support level, it proceed to breakout the 529 pivot level and triggered a move toward the 554/555 level. On the day after Thanksgiving, an abbreviated trading session, AAPL broke through the 555 with little resistance. As the market resumes trading after the Thanksgiving holiday, it would not be a surprise if AAPL retrace back to retest the 555 level before it attempt a move toward the 594 region.

It Doesn't Make It Easy

The market is not making it easy for the bulls or for the bears as it continues to make record high. Just in the previous session, the DJIA made a new all time high with confirmation from the DJT and the bulls see it as coast is clear for higher high. Then today, the DJIA making another new all time high by a slim margin of 0.30 with the DJT failed to close with a new high, and that gave the bears something to smile on. But before the bulls move to the sideline or the bears starting a field day, the Russell 2000 said not so fast. The small cap Russell 2000 closed with a new all time high that surpassed the previous high by more than 1% or 12.40, and to cast more confusion into this picture, the tech heavy Nasdaq 100 also closed with another new multi-year high and showing improved market breadth. So what should one do?

AAPL Price Action Review (Update) - 11/26/2013

AAPL broke through the 529/530 level and could be heading toward the previous pivot high near 539. There is a resistance pivot level near 555 in which lies the 141% Fib extension. Barring any major market correction, the near term target for AAPL is the 539 then the 555.

Doing The Shuffle

The market is looking a bit tire, but not too tire to prevent it from reaching another new all time high for the DJIA, DJT and a new multi-year high for the Nasdaq 100, NDX. The chart of the indices shows the SP500 and the Russell 2000 did not make new high along with the DJIA. There seems to be a bit of shuffling amongst which indices to join the DJIA in the new high territory.

It Doesn't Care

The market doesn't care what all those people are saying about how extended it is. The DJIA continues to hit new all time high, even with repeated Dow Theory non-confirmation and negative market breadth. As history has shown, the market will frustrate those that are trying to call the top and/or waiting for the correction. When these non-believers rush onto a running train that is when the market will do what they were expecting the market to do. Until then, trade what you see and not what you believe (I know, you heard this many times before, but are you doing it?) One more thing, 'do not chase the market or the stocks.'

AAPL Price Action Review (Update) - 11/21/2013

Here is today's update for AAPL. It appears to be making an attempt to reclaim previous support levels. Click here to view the previous update.

Nothing Has Changed

Although the DJIA made another new all time high and closed above the 16,000 level for the very first time, the other market indices really have not change their character. The picture from the chart below is nothing new, we have seen this before.

AAPL Price Action Review (Update) - 11/20/2013

Here is the latest update on AAPL price action. Click here to view the previous update.

DJIA Stocks Reveiw - 11/19/2013

Here is a quick review of the 30 stocks in the DJIA.

Get Defensive

Here are couple defensive stocks to watch.

AAPL Price Action Review (Update) - 11/18/2013

Take a look at the chart below. It appears to be playing out one of the scenario that was mentioned in the earlier video. If you have watched the video, then today's price action should not have been a total surprise, maybe unexpected, but not surprised.

Shhhh....

The elephant might be leaving the room. Here we go again, look at the chart below.

AAPL Price Action Review - 11/17/2013

AAPL continues to recover from its near term low. After forming a double bottom and tested the pivot point for support, it appears to be consolidating near the 515 level with a potential bull flag pattern. As it breaks this bull flag pattern, the measured move could project a possible price target near the 580-595 range.

HPQ Turnaround Play (Update - 11/16/2013)

Here is the first post I did on HPQ turnaround play. And here is an update on HPQ.

It Just Keep Going

The market simply keeps going up as there is nothing to impede its march toward the 16,000 for the DJIA and 1800 for the SP500. The Russell 2000 still lag all the market indices and warrant a close watch for clues of possible pull back or blow out.

The following chart shows how all the indices are synchronized on making new high while the Russell 2000 is trailing behind.

When Will This Stop?

Just when the market flashes a sign it is getting ready to take a rest, it re-energize like the energizer bunny and zoom to another new all time high for the DJIA, DJT, and SP500 along with the Nasdaq 100 making a new multi-years high. The only index that did not make a new high was the Russell 2000. While the market indices made new high, the internal market breadth continues to deteriorate, so when will this stop? The answer might appear when euphoric/panic buying occurs. Until then, pick your stocks, manage your risk, and trade your plan.

Here are the charts of the internal market breadth for the NYSE and the NASDAQ.

Stocks To Watch - 11/12/2013

Here are some stocks to watch for potential upside move.

State Of Confusion

As the DJIA continues to make new all time high without the participation from other market indices, the market is generating a state of confusion.

Fool Me Once…

The DJIA made new all time high twice last week. The first was on Wednesday, then followed with a big down day and a sudden reverse on Friday to regain all the Thursday losses and closed with another new all time high. The SP500 followed the DJIA and closed with a new all time high as well. Although the other market indices; DJT, NDX and RUT had a nice big green day, but not enough to push these indices into new high territory. All these market indices failed to confirm neither the Wednesday nor the Thursday new high put in by DJIA & SP500.

Non-Confirmed

Just one chart and one phrase "non-confirmed" DJIA new all time high.

Retailers Watch

Here are some retailing stocks to monitor for potential upside breakout: TGT, M, ANF, AEO, ARO

Chasing It Up

Here are three stocks with high short interest along with recent breakout could lead to short squeeze as the performance chasers start a run with their buying spree.

Marching On

Market made a new high early in the week then pulled back and started to consolidate the recent gains. The small cap, Russell 2000 pulled back with a bit more conviction than the other major market indices. This is probably due to the recent speculative run up on some of the small cap stocks. But by no means is this pull back signifying a top has been made by the Russell 2000. It might have been, only time will tell. But at the present there is no evidence to indicate it has made a top.

It Finally Made It

The Dow Jones Industrial finally made the new all time high that the Dow Jones Transportation has been screaming to tell the Dow Theory followers. One might believe today’s new high could be the market top, but to the contrary. The SP500, Nasdaq 100, Russell 2000, and the DJT all made new high along with the DJIA. What this mean is today’s DJIA new high is a confirmed high. Only after the market index has made a non-confirmed high is when we should look for the possibility that the market has made a top. Until then, we will continue to monitor for a higher high.

In the video, the DJIA and its ETF, DIA along with the price action for AAPL after its earnings report are reviewed and analyzed.

Four Stocks To Watch

Here are the four stocks to keep an eye on for the coming week. These four stocks are scheduled to report their earnings. The most widely watched is AAPL. It is schedule to report earnings after the close on Monday, and the options market is pricing in approximately pulse/minus $35 move on earnings.

Market Review - 10/26/2013

Most of the major market indices were hitting new high during the week except the DJIA. The DJT continues to show strength and it only experienced its second down day on Friday from the last twelve trading sessions. Talks about how extended this market continue, and the market continues to defy those disbelievers as it makes higher high.

The Crash Of 1929 - PBS

Don't be fool by "It's different this time". Watch this PBS documentary of the 1929 stock market crash and see the similarities between today and 1929.

The Crash of 1929 . American Experience . WGBH | PBS

Enjoy & learn.

It's Not Complicated

If you have been following this blog and read about the Dow Theory in this blog and/or from elsewhere, you have probably got the message from the market already. Yes, sometime the market sends out messages that are loud and clear and not complicated. But the value of the message is only as worthy as the recipient's ability to interpret it.  Here is what the market has been saying (see the charts).

Changing The Tune

NFLX stock price surged more than 10% after it has reported earnings on Monday. The after hour price action appears to be following what GOOG stock price has done after it reported its earnings. Then something happened in the Tuesday session, NFLX changed the tune. It has decided not to play the song GOOG played and its stock price came straight down after gapped up on the open at a new all time high near the 390 level.

The Band Plays On

NFLX reported its earnings today after the close and knocked it out of the park. AMZN is schedule to report its earnings this Thursday after the close. AAPL is scheduled to announce the next generation IPad tomorrow. It appears the high beta, large cap tech stocks are zooming higher on any positive news. Of course, it can move the other direction as well with any negative news. Live by the sword, die by the sword. The band plays on!

Natural Resources Watch List - 10/20/2013

Here are some interesting natural resources, oil & gas charts with potential long breakout level to watch.

Be sure to check out "More To Come" to see where the market might be headed, and "Trading All Time High" on one possible way to buy high sell higher, and get an idea on what the options market is pricing in for the "Event Driven Trades" on NFLX & AAPL.

Event Driven Trades

Next week, two high beta and widely watched stocks will be holding price moving event. One of them is NFLX, it will report its quarterly earnings after the market close on Monday. The second one is AAPL, it will be holding a product announcement event with the possibility of announcing the next version of Ipad on Tuesday. These events will most likely move the stock price of the respective stock.

Trading All Time High

Not only did the market indices such as SP500, Nasdaq 100, Russell 2000, and the Dow Jones Transportations made new all time high recently, but many stocks also made new all time high. Trading stocks that have just made new all time high could pose a few dilemmas for the traders. Couple possible dilemmas a trader might face when trading a stock that just made a new all time high are: 1) where is the next price resistance or price target for establishing potential risk & reward, 2) the risk of buying into a profit taking pullback or a correction.

More To Come

The market continues to make new high as the DC clown show came to an end and a new round of earnings report begins. The SP500, Russell 2000, and the Dow Jones Transportations index made new all time high, while the Nasdaq 100 made multi-years new high. The DJIA is the only index that fails to come near to its last new high. This does not mean the market has top out nor the new high from the other market indices is non-confirm. To the contrary, the market breadth shows remarkable strength, with the advance/decline and the new-high/new-low surpassed previous high indicate broad market participation.

Trading YHOO Earnings Projected Move

YHOO will be reporting its earnings after the close on Tuesday, 10/15/13. For those that are holding YHOO or planning to trade YHOO through earnings report, here is the current option market pricing for the expected move from the earnings report; it is expect YHOO to move +-6%, and that is equivalent to approximately $2.10 from Friday's closing price. From the intraday chart below, the upside price move level is near the upper price channel and the downside price move is near the last pivot low off the lower price channel.

Market Review - 10/13/2013

The market continues to be jerk around by headlines coming out of DC on the budget deal clown show. While the DJIA appears to be a bit uncertain, the Nasdaq 100 and the Russell 2000 are getting near to test the recent high.

Two Different Directions

AAPL and FB are two of the most watched stocks, and they both have been recovering from their recent low.

Since the last earnings report, FB not only has regained the losses since its IPO but has nearly doubled since its last earning report. In the last two weeks, FB started to consolidate its recent gains. Last week, it ended with two consecutive weeks of losses for the first time since May of this year. The price action from last week resulted in a bearish hangman like candle on the weekly chart.

Another Dip Buying Opportunity?

In the "Pulling Back And To The Sideline" post, the DJIA price chart gave some indications that a bounce could be coming and also provided some possible resistance levels.

Pulling Back And To The Sideline

The market has finally culminated to more than a minor pull back. Since the beginning of July, the DJIA 50 SMA (green line) begins to turn from a rising trend toward a falling trend, and the index has been retreating since it made its new all time high on 9/18/2013.

FB Retracement

FB is trying to hold above the near term support trend line. If it fails to hold above this trend line, then it could possibly dip down to the 78.6% Fib retracement level near the mid 45 area to test for support.

Possible Gap Fill

Here are three stocks that could be headed down to fill their recent price gap if they fail to hold some key levels.

Raising The Flag

One of the most common price pattern appears on a stock chart is a flag or a pennant pattern. It could be a bull flag or a bear flag, depending of the direction of the price trend. In this discussion, we will focus on the recent bull flag from SNDK.

MOMO Stocks In Review - 10/5/2013

The market continues to chop around while the clown show in DC plays on. Shorts are being punished as they continue to try to go against the trend by shorting those strong trending stocks such as TSLA, NFLX and FB. Until the trend has changed for these stocks, it is best to simply move aside and watch. And for those that are waiting to buy the dip, their patience are being tested and when these waiting to buy the dip start to buy at any cost, that is when the shorts should get ready. Until then, traders should simply maintain their positions and protect their gains.

AAPL Next Move

Since the September 9, 2013 unsuccessful attempt to take out the August 19, 2013 closing high of 507.74, AAPL has retreated to the 50% Fib retracement level near 450. After a brief dip below this level, AAPL reversed its slide and has been trying to re-establish a recovery uptrend by forming a higher-high to pair up with the recent higher-low.

The Defiants

Although the clown show in DC is still being played, and the market is being jerk around to shake out some of the weak market participants, there are stocks that move independent of the market. Here are a few of those defiant stocks: DANG, CREE, MSFT, SNDK and TSLA. In this video, the price actions of these stocks are highlighted.

Three Socially Dysfunctional Stocks

Here are three social media related stocks that lot of people seem to have written off at one time or another (this writer included), P, GRPN & ZNGA. But if one is to study the recent price actions of these stocks, they have been performing remarkably well. Once again, the market reminding us never to trade what we believe, but trade what we see. The picture these three stocks are painting show possible higher prices to come.

Click here to view the video if you do not see a video player on your screen.

The Big Six

Here is a look at the follow six widely watched stocks: AAPL, FB, NFLX, TSLA, GOOG, AMZN.

Click here to view the video if you do not see a video player on your screen.

Market Waiting For The Clown Show

The market hesitated to make a directional move one way or the other while it waits for Washington to perform its clown show with the debt ceiling/budget deal.

There were many market pundits proclaiming how bad the month of September will be when August came to an end. As it turns out, September was not a bad month but it wasn't an easy month for many traders. The market has become more of a stock picking market and the easy picking is diminishing. As October approaches, one needs to be reminded of October 19, 1987, the day the DJIA drop more than 25%. There is no sign the market is setting up to such a drop in October, but certainly one should never be complacent and believing this market will zoom higher without having someone eventually holding the bag.

AAPL, FB & More - 9/24/2013

As the market pulls back and cast some doubts to those that lack conviction, the strong stocks continue to hold their ground. Here is the latest look at possible price levels for FB, AAPL, NFLX, GOOG, AMZN, TSLA, & GS.

Stocks To Watch - 9/22/2013

As the end of September is near, stocks continue to edge higher defying all those that been waiting and warning about how terrible the month of September will be. Although there is still a whole week of trading before September ends and anything could happen. Here is a look at some of the widely watched stocks and a few that might attract some renew attention.

The price action and potential price levels for AAPL, NFLX, GOOG, AMZN, TSLA, LNKD, GS, FFIV, RAX, BAC are reviewed in this video. Click here to view the video if you do not see a video player on your screen.

GLD, SLV & Market Review - 9/21/2013

After the market made a new all time high last Wednesday, a little consolidation came in while the market re-align itself due to the shuffling of the DJIA component and the rebalancing of SP500.

Gold & silver gave back most of their gains from the Fed no tapering announcement. They need to be able to hold support and bounce off the 50% Fib retracement in order to move higher. Otherwise, they could be headed down to retest the June low.

Fed Gave The Market A Boost

Once again, the market surprise everyone by the Fed decision on not to taper. Almost every market participants were expecting a taper from the Fed ranging from 10B to 20B. Instead, the Fed decided the economy is not growing fast enough to warrant tapering, or is there more than not growing fasting enough? Your guess is as good as mine. In the meantime, trade what you see and trade your plan.

Unexpected Move From FB

Today, FB made an unexpected move and reversed to the upside in the mid-day. Here is a look at today's price action and some potential price levels that FB might be targeting.

Someone Know Something?

Is this just a coincidence or a case of 'there is always someone know something before anyone.'

Pull Back From The Active Three

AAPL continues to fall, NFLX appears to be pulling back, and FB profit taking came in big time. Here is a look at some of the possible price level for the coming days.

Something For Everyone

Lot of stocks from different sectors are poise to move higher. Here are some of those stocks from various sector.

The fertilizer sector appears to be waking up after a prolong decline.

Stocks To Watch - 9/15/2013

Gold & AAPL did not have a good week. They both sold off quit bit while the market move higher. GOOG, AMZN appear to rebounding from their recent pullback, and YOKU took off while SODA could be setting up for an up surge.

Near The All The High

Once again, the market is defying what the majority participants are anticipating. As September approaches, the talking headers are tells everyone that care to listen to them that the month of September will be a bad month for the market. So far, the market continues its upward march and appears to be getting ready to assault the recent new high. Although it’s only the middle of the month and there are still many trading day remains, one must not let down the guard to be cautious. The breadth of the market is not as strong as the previous high and that continue to remind us to be cautious.

Murky Picture

The market continues to rally into higher level. The Nasdaq that was lagging in most part of 2012 finally exerted itself and moved into multi-year high territory. Although the tech sector has been strong recently to help push the Nasdaq indices into new high, but the breadth is giving out warning signs to alert market participants to be cautious. Here are the charts of the Nasdaq market breadth showing its divergence.

Stocks To Watch - 9/9/2013

The coal sector was highlighted in this post and they seem to be lighting up recently, here are some of the stocks in this sector that might be of an interest: WLT, ANR, CLF. In addition, casino stocks are breaking out as well and appear to be heading higher, stock such as MGM, WYNN, LVS, and CZR. After bouncing off the June low, gold & silver appear to be taking a breather, but the price action indicates there could be further upside to come. Keep an eye on GLD & SLV.

JCP On The Bounce

Ever since Bill Ackman, the hedge fund manager sold his JCP holdings, JCP stock price has been bouncing up off its recent low. Base on the recent price action, JCP could possibly move higher in the near term.

Price To Watch For AAPL

As trading resume on Monday, September 9, 2013, AAPL prices will likely be volatile as it get ready to announce some new products on September 10 and some announcements in China on September 11, 2013. On its price chart, there appears to be a spot where the near term price might converge.

The Buzz

Near the close of trading yesterday, BBRY was buzzing with news of the possibility auctioning off the company to multiple bidders. This buzz will likely help the technical to play out as it broke above the 10.70 baseline for a potential swing long.

Lighting Up The Coals

The coal sector appears to be getting ready to make an upward move. Here is a look at the coal ETF, KOL and couple coal related stocks: WLT & ANR.

Symmetrical Move

LNKD formed a bull flag with a measured move price target of 267. This bull flag could result in a symmetrical move. Here is a weekly chart depicting the possible bull flag move.

Stocks To Watch - 9/2/2013

Here is a look at some of the momentum stocks and some of the possible price actions for the coming week: FB, Z, TSLA, AAPL, NFLX, and GOOG.

Possible Revitalized Stocks

Here are three possible stocks that could show some upside prices in the near term: LULU, YOKU and OPEN.

The Gold Watch

Looking for a possible pull back for gold before it make another upward move. If gold ETF, GLD pulls back to near 131 region, that would be near the 61.8% fib level and could be setting up another bull flag with a possible measure move price target near 142-143.

The Casino

Sometime the market feels like a casino, but if one apply risk management properly, one can minimize the amount of gambling on a trade and focus more on speculating.

A Pre-holiday Look

A brief review of the following stocks before the Labor Day holiday: GLD, FB, TSLA, KKD, GMCR, AAPL, NFLX, GOOG.

A Sudden Turnaround

The market was showing some strength in the early morning trading with many stocks surging higher. Then near mid-day and early afternoon, the market started to show some sign of stalling and many stocks beginning to give back majority of their morning gains.

Stocks To Watch - 8/25/2013

Here are some of the stocks & ETF that could move higher in the coming week: CHK SLV GLD MGM TSLA KKD FB GMCR CELG NFLX AAPL GOOG GS BAC.

Bouncing Higher

After an eventful week with the Nasdaq halted for trading for 3 hours due to system problem, the market continues to bounce back toward higher level. There are signs that this could be the last attempt on running up to make a new high for the market. While the trend still remains to be up, one must continue exercise caution and follow the stocks with strength.

Continue To Watch & Continue To Hold

With the DJIA closing down more than 100 points, NFLX, FB & TSLA appear to be holding up well. Continue to watch and continue to hold until your catalyst is invalidated by price. The current unsettle state of the market is difficult enough to maintain the course, so don't let your opinion or personal bias influence your trading decisions. More importantly, don't let others' opinions alter your trading positions. Trade what you see and trade with your convictions.

Stocks To Watch - 8/21/2013

The market still in the process of deciding which direction it wants to move. The SP500 is hanging around the 50 SMA that can easily break toward the downside or reverse back toward the upside. While the market is deciding, there are stocks showing strength and stocks at the crossroad where it can break down or reverse back up just like the market might do.

Looking The Other Way

Today, one simply need to look the other way and pretty much ignore in most part what the market indices are doing. The larger time frame trend for the market still pointing up, while the shorter time frame appear to be indecisive (correction or reversal?). Under the current market environment, it is very difficult to play the trend. You do not want to go aggressive long, and definitely do not want to short the market until it has clearly display the trend is down. Therefore, one must resort to be a stock picker and play the stocks that are showing strength.

Gold & Glitter

Since gold put in a closing low of 1212.30 on 6/27/13 and tested with a slightly higher closing low of 1213.40 on 7/5/13 in the futures market, it has been trending up toward 1350.

Remain Cautious

The market got spooked from CSCO earnings report. The news of a 5% layoff from CSCO was a big surprise to the market. With the PC market slowing and IBM projecting a tough quarter ahead, it was a making for the tech sector to get hit. Since IBM, CSCO and INTC are part of the DJIA, a 200+ point on the downside for the DJIA was not surprising.

Needs To Be Patience With FB Once Again

After FB moved back above the IPO price of 38, it has stalled and attempted to consolidate around the IPO price level. During the last couple trading sessions, it has broken below the IPO level and headed back down to 36. Looking at the weekly price chart, FB is in the process of completing an evening star candlestick pattern. This pattern typically is bearish when it is formed near the top of an uptrend. One can also see the similar price pattern formed by AAPL in September of 2012 prior to an extended retracement. After FB complete this pattern and price breaks below 36, then there could be some long opportunities when it has found support near the 34 level. Until then, one should exercise patience and wait for the next long trigger from FB.

Market Pulled Back

After CSCO announced its earnings and the pending layoff of 4000 people, the market sold off. From yesterday's review, the market breadth is indicating a pull back is imminent.

Here is a look at the market and what to expect next.

Headwind Could Be Striking

After the market closed today, CSCO reported its latest quarterly earnings and gave some surprising unsettled news about its business outlook for the coming quarter. In addition, the biggest surprise is the 5% workforce reduction (layoff) of 4000 workers worldwide. This is one thing no one is expecting, and for CSCO to take such drastic and sudden action, one must question how bad the global economy really is?

The New Old AAPL & More

Here is a follow up review for some of the stocks that were reviewed earlier. One of them is AAPL. AAPL was on the verge of breaking out of the double bottom pattern. Today, AAPL made a move above the pivot near 472. Then later on the trading session, Icahn tweeted to let everyone know he has a sizable position on AAPL and he felt AAPL is very undervalued. This tweet has increased AAPL market cap by 25B (yes, with a 'B'). AAPL is currently trading like it use to trade...volatile with lot of buzz. This is the new 'old' AAPL.

Analyze AAPL & NFLX Using Multiple Time Frame

Here is an analysis of AAPL and NFLX using daily, weekly and the 30 minutes intraday price chart to identify potential support & resistance levels, and possible price targets.

Home Builders Need To Rebuild

After an impressive run, the home builders have retreated and they have retraced to possible key support levels. If these support levels failed to hold, then look for further retracement from these stocks.

Something For Everyone

The market pulled back slightly last week. It might feel worst than it seems, since there are many days with triple digits intraday loss ended with a modest loss. This type of price action might give us some false sense of security. But, the trend is still pointing up, so until the market tell us otherwise, continue to trade the current trend.

The stocks being covered in the video are: AAPL GOOG AMZN NFLX IBM GS MS BAC JPM FSLR SCTY TJX RL TIF MGM LVS WYNN WFT SLB CHK PXD UPL EOG CLF P LNKD TRLA Z FB

Silvery Bounce

After the precious metals made their low in June, they been grinding back up to the mid-June price gap. The silver ETF, SLV is also trying to break above the 19.80 level and possibly move up toward filling the June price gap.

The Day After For PCLN

The Fib 161% extension level near 994 proved to be the resistance for PCLN on the day after it has reported its earnings. The intraday high for 8/9/2013 was 994.98.

As shown on the daily price chart, the price essentially reached the upper band of the rising price channel, and it appears the resistance has prevented PCLN from reaching the 1000 level on this attempt.

After The Earnings For MOMO Stocks

Let’s take a look at some of the MOMO stocks that have recently reported earnings: GOOG, AMZN, NFLX, TSLA, and LNKD.

PCLN The $1000 Stock?

PCLN reported its latest quarterly earnings after the close today and the price of its stock moved toward the $1000 mark in after hour trading. The option market priced a possible +-$54 price movement on earnings, a 5.8% based on the normal trading session close of 933.75.

As one can see from the chart in the video, PCLN closed at 984.04 in the after hour session.

Post Earnings Review For TSLA & GMCR

Certainly there was no shortage of anxieties and anticipations from those that were waiting for the earnings report to come out for TSLA and GMCR after the market close today. Those that are holding long position on TSLA certainly got rewarded, but those that are holding long on GMCR did not.

Don’t Be Blinded By The Bias

As recent history has shown, the two most hated stocks are rewarding those that are willing to put their feelings (bias) aside and trade according to price action. The two stocks I’m referring to are FB and AAPL.

BBRY could be another one of those hated stock making a similar move. Don’t be blinded or influenced by all the chatters, whether they are positive or negative. Put away whatever bias you might have and trade what you see. How high can BBRY bounce off its recent low and how long will this move last? Who knows? As a trader, just trade it until it stops moving. As always, trade your plan.

Here Come The Fireworks

Two heavily shorted stocks are scheduled to report their earnings after the market close tomorrow, they are GMCR and TSLA. The option marketing is pricing these two stocks to have price movement of approximately plus/minus 13% or plus/minus $11.00 and $18.00 respectively.

All Bets Are Off For MGM

MGM has been trending upward from the lower bound ($9.00) of its multi-year trading band to the upper bound ($17.00) since the end of 2012. It has broken through the $16 resistance level and currently testing the $17.00 trading band resistance. The short term moving average, 20EMA, along with the 50 & 200 days SMA have been rising with prices trending above them. Here is an earlier post on MGM setup.

But, before the market open for trading on 8/6/13 (Tuesday), MGM will report its quarterly earnings. Depending on the quarterly results and/or the forward guidance, the price of its stock can react positively or negatively. One could avoid the adverse price reaction to earnings surprises by taking off all bets on MGM until after earnings have been reported. As always, trade your plan.

Rational Fear & Greed

Whenever fear & greed are at an elevated level, there are no rationales to stock value. This is exactly what is happening to TSLA, similarly to NFLX, AMZN and many Web 1.0 stocks back in the dot com bubble. No one say you have to like it or accept it, you could just watch and learn how the game plays out over and over again. So whether you are in the TSLA trade or simply being a spectator...ENJOY the game (even if you know how this game will end). If you are in the trade, I wish you will make a lot of money and be able to keep them. Good luck traders!

Path To The 40s - FB

Ever since FB reported its latest quarterly earnings, the composure of its stock price action has changed. It has surprised lot of traders that do not believe FB could move back into its IPO price of $38 this quickly. Now many of these traders are waiting for a pullback to buy in. The most likely scenario is those that have missed the initial move will end up chasing the high as FB run toward the IPO high near $45.

Too Many To Choose

The market continues to make new all time high and stocks are on the verge of making new 52 weeks high. There are so many stocks in every sector displaying price action that can propel them into new 52 week or new all time high. There are simply too many stocks to choose to go long, it is getting scarey.

The following video will review the market along with highlighting some of the stocks that have the possibility of breaking out to new high.

These are the stocks being reviewed in the video: JPM BAC C GS MS TLT TBF JNK GM F WMT URBN TJX RL TIF KKD DNKN YUM MCD GLD GDX ABX GOLD GG GFI AOL GOOG HPQ AAPL FFIV PCLN NFLX BRCD JDSU YOKU LULU CRM