Sunday, August 31, 2014

Chart of the WEEK - Sept. 2nd

The long weekend has given ample time to locate and post the "Chart of the WEEK".

This chart has a plethora going for it on the Bullish side. 

$VZ broke out of a Large Rounded Bottom. The width of this smooth base is key for the potential move to follow.

Broke out nicely & got way too aggressive to the upside and pulled back.

Has now put in a smaller Rounded Base with is very smooth. Don't want to see a choppy base.

RSI working off of key level.

The key is the SMA50 break and closed at the high end of the Price Range for Friday. Bulls are in control. Will need to confirm on Tue., Sept. 2nd. Fireworks soon!

$VZ Daily Chart:

Happy Labor Day!



Sunday, August 24, 2014

Simple Trading Approach

A Simple Trading Approach. Should be:

     *Non-Subjective ~ Not Open For Interpretation

     *Consistent

     *Simple

If you use Patterns, any two traders can look at the Pattern, Fib. Grid, Gartley or Morning Star and have a different opinion(s). Or, where this line or that level or Support or Resistance may or may not be.

It's plain confusing much of the time. Open to interpretation. Not simple and simply too complicated.

As traders become more educated, they tend to realize simple is better. In turn they become more consistent traders.

A recent trade (Yes, it's a winning trade! What else would you expect?), was one I posted on EBAY and that it was "on sell" with the recent pullback.

I used a very simple chart on EBAY. It's consistent, not open for interpretation and repeatable. Plus, I like it and have confidence in it.

EBAY Daily Chart: (you may need to mouse clink on chart to enlarge)

Chart Keys. Signal Bar above the flattening out SMA50, next Bar is a Confirming Bar, RSI above 50% Line. That's correct you don't see any volume.  Keep it simple.

Congrats you got into a fresh new uptrend & that can be pretty darn exciting & profitable!





Sunday, August 10, 2014

Scan for the Strong Trend Stocks

Hope everyone is enjoying their Sunday.  Do something nice for a family member or friend and ask then to "Pass It On". Help make the world a little better place.

I really like to focus on Price Trend and Price Structure.

Putting a Watch List of Trending stocks is pretty simple. I use a simple scan for Finviz.com (FREE!)

The set up is highlighted in Yellow. You can add or subtract to meet your trading needs. 

I sorted on volume. You can sort on price % change, stock price etc, etc. 

I then click on the top twenty or thirty stocks in search of nice pullbacks and are ready to re-engage the strong up trend. Takes very little time.

Once I have my candidates. I place in the Watch List and chart them on the Daily & Weekly with the Andrews' Fork.

Where is Price within the Median Lines? Is there Price Structure to the left, a Pivot or a trend line that's relevant?

Finviz Strong Trend Scan. (Amazingly Simple ~ You Can Do It!):

http://finviz.com/screener.ashx?v=111&f=sh_avgvol_o500,ta_sma20_pa,ta_sma200_pa,ta_sma50_pa&ft=4&o=-volume




Sunday, August 3, 2014

HAS SPY LOST IT's MoMo?

I really hope this update finds you well on this very fine Sunday! Cheers.

Trying to pick a "TOP" or "BOTTOM" in any market is "Fool's Gold". But, knowing when a market may have lost it's Momentum aka: "MoMo" is invaluable.

I really think the SPY Daily Chart clearly shows the wind is slipping out of the sails here.  May be a good time to tighten STOPS or take some profits.

A "TOP" is a process and takes time. Losing Momentum can be an integral part of that process.

SPY DAILY CHART (With notes on chart):
(Click on chart to enlarge)

Cheers!

Sunday, July 27, 2014

Scanning for "Best of Breed"

I first scan the Market Sectors for strength. I look for Sectors that have shown good Relative Strength compared against the SPX/SPY.

The last (7) days have clearly been Health care (XLV) and Technology (XLK):










I then use a basic scan set up at Finviz.com set up to look for "Best of Breed" in each of these "Hot Sectors". These are what popped up.

$AGTC
$BIDU
$YY
$ALGN
$INSY
$VRNS
$QIHU
$USNA

These are not recommendations of any sort. Simply ideas for the new week ahead.

I have these in a Watch List for the open on Monday morning. Watching Price acts during the first 30 minutes of the opening. I will mainly be looking for follow through or pullbacks.

Having only (8) equities to worry about, I'll have the charts prepared on various time frames & will be ready to take action immediately.

I did note Financials (XLF) were weak. That's not always a good sign for the overall market & it's hard to trade Bullish in a sour environment.

Keep it simple, come prepared & strong. Make some money. 

Enjoy your Sunday!

Cheers.



Sunday, July 20, 2014

Stock of the Week ~ $ZHNE

Recent Stock of the Week ~ $BEE has held up well in this crazy market. I am sticking with "Aunt Bee", as a Long Swing position.

This week I will be tracking $ZHNE early on Monday. If Price pulls back I will be adding to my position. I expect Price will work well in the Ascending Fork #2.  I like the pullback from striking a recent 52-Week High.

I like the Price action and the fact Price has pushed away strongly from the Hagopian Line (Yellow) of Descending Fork #1.

I usually shy away from stocks with a MSN StockScouter ranking of 1. But, this position is in my Speculative Basket and I am willing to take on the risk & will manage it tightly. I like MSN has it as a "Strong Buy" and the recent news has been positive.

MSN Finance Link: (Thank You MSN Finance!)


$ZHNE Daily Chart (Thank You Tradingview for the great charts!)

Cheers!






Sunday, July 6, 2014

Stock of the Week ~ $BEE

I would like to start posting one and only one stock located during my weekend research on Sunday. Plenty of time for your review prior to the new trading week that awaits us. This is NEVER a Buy or Sell recommendation. Simply an idea. Something for your review and to look at the fundamentals and most important the Price Chart. 

I am a firm believer that there is only one true "Leading Indicator", that's Price. I like simple and "Price is King."

First a Short Squeeze Scan, sorted on volume. Thank you Finviz for the FREE screener. The set up parameters are highlighted in yellow. As indicated, I like simple, effective and consistent.

Short Squeeze Scan: (Mouse Click on image to enlarge)

The stock I like heading into Monday, July 7th is $BEE. It's a 10 Ranking on MSN StockScouter. There are currently only (143), #10 Rankings in the Stock Market Universe.  

$BEE is undervalued and looks ready to have a base break out of the mini Pennant Pattern. Price Respects the lower Bollinger Band. The price trend is very Bullish.

$BEE Daily Chart: Thank you TradingView (Great Charts)

Cheers!