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I've been watching INFA for about a week now watching to see if this bear flag would play out.  I actually shorted INFA yesterday at $38.20 only to be stopped out at $38.61.  That was the HOD to the penny.  Kicking myself today.

ANN bounced pretty hard off the 200 DMA and crashed through the 50 DMA and stopped right on the 100 DMA Tuesday.  Showing some more weakness today and looking like it wants to test the bottom of the wedge.  Didn't want to short it today with retail numbers out tomorrow.  If it pops some tomorrow I may look at shorting it.

MOS breaking out of the recent channel yesterday and finding support at the 50 DMA today.  The only thing keeping me away on this one is they are reporting earnings Thursday.  Although recent earnings have been good for this one, I just don't play earnings.

RGR still not able to break out and get above $34.50.  If it doesn't break out on the next pop, I may look at shorting it.

WRC starting to form a nice channel.  Got burnt about a month ago trying to short this one.  Going to just watch this one for now.  Sort of in no mans land.

I really didn't think the stop would get triggered.  I work Monday nights, so when I get home Tuesday mornings, if I place a trade I ususally set a stop so I can get some sleep.  Nature of the beast.  I rather watch it with a mental stop, but have to make do on Mondays and Tuesdays.  Just sucks to get stopped out right at HOD and then the stock drops $3.50 when I was short. 

 

Quote:

Originally Posted by BobK 

Have you considered increasing your stop? I set a percentage of the trade which is flexible. The problem starts when I get bull headed.

Watching this channel for a break on the 5 min chart on MON.  Hopefully if it breaks I can get a quick scalp.

In at $76.10 out at $76.45 and $76.47.  Quick pocket change.  May run some more, just didn't want to be greedy.

Left some money on the table with MON.  Oh well, profit is profit.  Take it and don't look back.  Quick $100 profit just sitting here watching TV and the channel on the computer.  It got a big pop right after I sold though.

5 Min Chart

RGR finally broke out today.  Watching MON so I missed this one.

ANN bounced perfectly off the bottom of the wedge.  Wanted to short it after that big red candle Tuesday, but I was afraid with retail out today.

Spent the night updating my sector watch list's and moving stuff around so not much time to go over charts.  Here's a few I'll be watching next week though.

Chomping at the bit to short MU.  Looks real good to me.  I'm going to be eyeing the 200 DMA to go short.  May be getting a little greedy, but this should be where some longs really start unloading.  Looks like they may have started unloading this week, but ideally I would like to see a high distribution candle Monday touching around that 200 DMA and then look for a gap fill.  See what happens.

CXO back in my short range.  Made some good money shorting it above $100 the past few months.  I'm a little leery of shorting oil here lately though and I have that feeling I'm going to get burnt here soon on this one.  Going to watch the market and oil next week and see what this one does.  Will definitely short if it double tops.

Watching this triangle pattern on LVS.  Looking for a bounce or a break at the trend line.

Started watching MTD this afternoon.  Broke above the 50 DMA and almost touched the 200 DMA.  Another wedge play to watch.  Only thing is the bid and ask on this one stay spread apart so it can get some quick moves.  Stays above the 50 DMA and it will probably test the 200 DMA.  A break below the 50 DMA and I might look at shorting it down to the 100 DMA as well.  See what we look like Monday.

Might look at starting a short position in MU today.  Looking to get in around $7.55.  See how it looks at the open.

If you haven't had a heart attack by now Bob, I think you can ride it out.  I'm going to set a limit sale short at $7.40 with a starter position.  Not going in big, but if it's a winner let it ride, and if it goes up got plenty to average down with.

 

Quote:

Originally Posted by BobK 

If it goes to 7.55 I'll have a heart attack. I got in @ 5.82.   A few have suggested that I hold so I'll stay in and try to short again to get some money back.mI did sell some calls last week and made profit.

Shorted MU today at $7.32.  Chased all morning before setting a limit order and getting some sleep.  Really need to work on that chasing thing.  When a trade starts going the direction I want it to, I just need to get in.

Covered MU short at $7.18.  Just not feeling that the market is ready to rollover yet.  Not a bad day.  Took a long and a short position home to hold overnight.  Both profitable this morning.

Coal sector got a boost today, so I figured I would look at some charts and see if there were some plays.

KOL (Coal ETF) trying to break above the recent trendline.  If momentum continues the first test will be the 50 and 100 DMA.

WLT actually looked to be breaking out to the downside just yesterday, but got a big boost today.  Also looking for a test of the 50 and 100 DMA.  Up better than 7% today on above average volume.

ANR bouncing off the recent support line pretty well and now testing the 50 DMA.  Looking for a close above that and break of the wedge. Up 4%.

BTU also testing the 50 DMA and recent resistance line.  Up almost 3%.

JRCC testing the 50 DMA.  Up 1%.

PCX bouncing off recent support.  Looking for a test of the 50 DMA.  Up 3%.

One look at these charts and they all look the same.  Coal stocks have been beat up pretty bad.  Just watch the charts and go with the momentum.

Sold short MON at $79.95 this morning.

Doubled down on MON at $80.95.  Dang that thing took off after I shorted it orginally.  Averaged in at $80.45.

Lets take a look at the MON trade.  Stock broke out to the downside of the uptrend channel its been in this morning on the 15 min chart.  Got a back test where it also ran into the daily resistance line.  That's where I shorted it and it took off.  I should have waited for confirmation.  Shorted again near HOD only to see a bull flag start forming.  Broke out of that and tested HOD again.  A break of $81 and I'm probably going to take a lose and look to reenter later.  Daily chart still looking like a top is near.

15 Min Chart