Stock Trading Ideas

Ags Stocks Setting Up For Breakdown

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Agriculture stocks have been bouncing on low volume after breaking down on huge volume. Any bounce towards the logical area of resistance can be viewed as potential short sale zone. I have highlighted 2 (POT & MON) of the few names that are setting up nicely on the short side and present low risk/high reward setup.

Monsanto (MON): Short @ 79-80

Potash (POT): Short @ 100-101

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Markety Summary:

Index	Current Trend
Dow	Neutral (side-ways) to Bearish
S&P 500	Neutral (side-ways) to Bearish
Nasdaq	Neutral (side-ways) to Bullish

Top & Bottom Market Summary (1 Month):

Bullish Setups: OPY, SMP, FSC, MEMS, NUVA, OMI, EQ, KMX, HSP, VRTX, PWRD, NTES, TTEK, MR, WDC, MPWR, MDAS, AMZN, ESRX, SCHN, DGX, HSIC, NAV, LIFE, HMSY, WPI, SOHU, CYOU, CYMI, WOOF, STAR, JKHY, PAG

Bearish Setups: AZO, APOL, CELG, CEPH, HES, NTRS, BAX, ACS, GPRO, ALGT, OCR, MYGN, MON, GENZ

First Solar (FSLR) - Testing Support

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Trade Setup: Short below 160
Expected 1st Target: 50 DMA (150)
Expected 2nd Target: New Lows

Weekly Market Updates

Markety Summary:

Top & Bottom Market Summary (1 Month):

Bullish Setups: KMX, TLB, WYN, RGR, EBR, LO, ESRX, GMCR, SOHU, CYOU, WLP, HMSY, HSP, ODFL, CREE, PWRD, MDAS

Bearish Setups: ESI, BCR, CEPH, GENZ, BAX, WEC, APEI, MYGN

3 Chinese Longs

It looks like the Chinese stocks are going to lead this market higher even if the macro economy sucks. I can sit here and keep whining about how bad the fundamentals are but market doesn’t seem to agree with what I think. So far the best way to play this uptrend is in this 3 Chinese stocks: Netease.com (NTES), Shanda Interactive (SNDA) and Changyou.com (CYOU) that are trending higher and higher on expanding volume. Take a look at the chart of these stocks:

Keep in mind that CYOU is a spin-off of SNDA which is still majority owned by SNDA. Wait for them to pullback on low volume or atleast form a base to digest this explosive moves.

Is Bond Market Telling Something?

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The market have been extremely notorious to both bulls and bears alike in the past couple of weeks. Most of the swing traders/bloggers I know have been sitting on the sideline and waiting for the market to resolve to either side. In all this hoopla, there is something that is making a “quiet scream”. Take a look at charts below and decide it for yourself.

TBT, which is ultrashort treasury is having a nice looking breakout and is hovering around the 200 DMA (52). While TLT, which is inverse of TBT is a picture perfect short setup.

Ags Breaking Out

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Agriculture sector is breaking out of a nice and flat base. It looks like the inflation (or should we say “hyper-inflation”) is roaring it’s ugly head up in the face of government intervention. Take a look at some of the charts of stocks within this sector

Crushing Rally!

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Well, I think the bears are finally running for the hill (except ME ). I’m still holding WFC July puts in one portfolio and loaded with FAZ long (short financials) in other. As I’ve said before, I expect to hold FAZ for quite some time, hopefully till end of the year 2009. The boat is loaded on the bullish side of the trade and sometimes it pays to be on the opposite side of the trade. I think we might continue upward upto 950 on $SPX which happens to be at the confluence of 200 DMA. We will see…

If there was any doubt about this being a bear market rally, everything was laid to rest by today’s crushing rally. Now it needs to be seen as how much the bulls can push before we stall. If you look at the charts of the major indexes, Nasdaq has been on a tear since hitting the bottom in early March. Today, Dow Jones ($DJIA) and S&P 500 ($SPX) broke out of inverse head and shoulder pattern with some convincing volume.

Sector Alert: Education & Biotech Sectors

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Education Stocks:

Biotech Stocks:

Stock Trade Update: Long RIMM…Yes It’s A Long!

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Research In Motion (RIMM) broke higher this morning from a last week tight flag pattern. The only resistance I see in near-term is its approaching 200 DMA (68-69). But as with other past leaders like Goldman Sachs (GS) and Amazon (AMZN) which have shown some resilience in moving past their 200 DMA, I thing (RIMM) should have an easy walk over that resistance area. Don’t forget that (AAPL) is reporting earnings soon and that might be some boost to the handheld devices sector.

Bought 1 RIMM June 65 Call @ $7.55.

The potential rise is set to 76-90 which is the gap that was created back in October 2008 with a stop set around 60.

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