Trader MD

I was watching AGU early on as POT & the Ag group gapped up. I mentioned in last night's watch list that POT could continue its momentum early in the day as it closed it's highest tick on Friday. When the Ag plays started to roll over a bit, I found a nice short entry on AGU for a quick 2R.



RIMM started strong to continue its late day run from Friday before pushing lower. I noticed it was forming a channel type trading range. You could possibly even call it a bullish flag. It broke out of the channel and consolidated a bit with a nice NR7 (Narrow Range 7) bar. I entered on the break of the NR7 bar with a stop just below it.

As I highlighted in the picture below, I normally wouldn't have had such confidence in my trading to have such a tight stop. The stop was ~40 cents from my entry point and was the key to squeezing 3R out of the trade.

Posted by Trader M.D. at 1:16 PM 3 comments

Labels: AGU, Channel, NR7, RIMM, Triangle

Arch Coal, Inc (ACI) reports before the bell Monday and could help a few of the coal stocks highlighted below (FDG & MEE) break out.

Posted by Trader M.D. at 11:25 PM 0 comments

Labels: Coal, Watch List

First, the earnings (I'll be paying attention to the italicized ones; courtesy of Briefing.com):

• Monday: ALDN, ACI, BAC, LLY, GCI, MRK, NVLS, STLD, and TXN...
• Tuesday: AKS, BHI, CME, COH, LMT, MCD, NCC, PAS, UAUA, UNH, WU, BRCM, CREE, CYMI, NSC, VMW, YHOO, and YUM..
• Wednesday: AAPL, APD, ABK, ABC, BIIB, FCL, GENZ, SGP, BUD, AMZN, CMG, FFIV, NTRI, and QCOM...
• Thursday: MMM, MO, DOW, FLIR, MOT, NOC, PEP, POT, RTN, TASR, ZMH, AXP, BIDU, MFE, WFR, MSFT, WDC, and YRCW...
• Friday: AXL, GT, ERIC, and WEN.

Note: VMW, NTRI, CMG, BIDU, TASR, CREE and YRCW have significant short interests (a positive reaction to their earnings could accelerate quickly to the upside)

You'll notice there are quite a few coal, steel, semi

This week's economic reports are on the lighter side & there is no scheduled fed speak.

On to the indexes:

• Keeping a longer term perspective on the S&P

• The S&P daily

• The QQQQ daily

• The IWM daily

• The XLF daily

• The SMH daily

We've had quite a nice move up over the last week and we're probably due for some sort of a breather here. Another event that will make next week interesting is what happens of the YHOO/MSFT deal.

Things look good for now and I think that will continue, even if we get a few minor shocks along the way. Any unexpected major shocks could definitely change the course over the short to intermediate term.

Posted by Trader M.D. at 10:37 AM 0 comments

Labels: Coal, CupnHandle, Index, Recap, Semis, Steel

The weekend reading list is a bit longer than I'd normally like to post, but I haven't posted any in a few days.

• Chris Perruna & I have similar views on the holy grail
• Trend days have increased recently (Also see Bandwagon effects in the market)
• Sentiment Recap: Week of 18th, 2008
• A contrarian view on the IPO drought
• Fads, CROX, & Google Trends
• Gerald Loeb's Trading Tactics
• The foreclosure discount
• Wachovia on walking away & shadow foreclosures
  
• California's Unemployment Rate? 6.2%
• Can speculation really be blamed for the run up in commodities?
• Peak Oil is a gradual process
• Disappearning economic indicators
  

Posted by Trader M.D. at 10:11 AM 0 comments

Labels: Links

I've finally got my blogger up and going. There still are some kinks I need to work out, but in the mean time I've been able to annotate and post Friday's trades.

I've done most of the commenting on the actual images and they can all be clicked on & enlarged.














Keep RIMM on your watch list as its in the process of breaking out of the C&H highlighted on it's daily chart above.

Be sure to check back in later this weekend for an index recap & stocks setting up for the next week.

Posted by Trader M.D. at 4:24 PM 0 comments

Labels: BasenBreak, Fibonacci, Gapper, MON, Pivots, RIMM, SINA, Triangle