Consolidating Today's Charts

For those that might have missed some of the charts I have posted on twitter throughout the day, here is a recap. You can also see my tweets in the window on the right.

Another Pullback

Here we are again, in the midst of another pullback. In this video we will review today's price actions and review some of the stocks in our watch list and some new additions to monitor for future price move.

Market Made A New High Minus The DJIA

Today the SP500 and the Russell 2000 made a new all time high, and the Nasdaq 100 made another multi-year high. Although the DJIA was absent from this new high party, but the signs are telling us it is not a matter of 'if' but a matter of 'when' the DJIA will make a new all time high. For this reason, focus should be placed on the next new all time high from the DJIA. And the key things to pay attention to are the market breadth and the participation of the other market indices making new high along with the DJIA. Until then, continue to trade on the long side with cautions.

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.

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.

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.

Possible Revitalized Stocks

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

YOKU

Looks like YOKU could be making a move up toward the 200 SMA near the 40.50 level, and possibly could move to the upper bound of the rising price channel near 44.20 level of the 100 SMA.




Disclosure: no position on YOKU

YOKU - 5/11/2011 (Stopped Out)

YOKU - 5/11/2011 update

The swing long trade initiated on 5/6/2011 with the setup of bouncing off supporting trendline and the 20 EMA failed to gain upside momentum. Today, the price declined below the stop loss level and the trade was closed out with a 1R loss when it hit the stop loss level. With the price moving below the previous low, it is now forming a lower-high/lower-low downward trend. Until this price pattern reverses, no new long position will be considered.

YOKU - 5/6/2011 (Long)

YOKU - 5/6/2011

Here is my first trade on this China internet stock YOKU that went IPO last December. The setup is based on the bounce off support trendline and the 20 EMA. A swing long position was initiated on 5/6/2011. Click on the image to view the commentary and the various exit levels planned for this trade. I will post updates for this trade as it moves along.




Disclosure: long on YOKU.