Thursday, October 27, 2011

Up, Up and Away in My Beautiful Balloon Following EU Deal...

BMO – ES +31.75 and NQ +53.00 futures are higher about 25 minutes before the open in pre-market trading and point to a higher open following a EU debt deal…many know I have been saying that a deal would be done and that the recent rally breakout was suggesting that big money also believed the same…so much for all the doom and gloom naysayers who can only see problems and never see solutions…their lack of vision and real insight costs them once again…volume is heavy for pre-market with more stocks quoting up than down…Financial stocks, XLF is up 63 cents on 1,857,800 shares in pre-market at this time…

TLT is down 1.54 and the Euro is up 194 pips in overnight trading …

NDX leaders AAPL, AMZN, BIDU, GOOG, PCLN and QCOM are quoting higher

Dave’s Insight for Thursday:  higher Euro…weaker bonds…Financials up…setting up a higher open …the SPX bounced up from the horizontal resistance now support of its 11 week trading range on Wednesday, watch for a continuation move to the upside…Chart indicates a move to 1,363 in 8 to 10 weeks…Follow your entry signals and take trades according to your rules…Watch XLF, TNX, and breadth as key factors in any SPX move…move stops on profitable trades…Trade Gaps that meet your rules as earnings season continues this week

SPX
Resistance: 1,260, 1,273, 1,300
Support: 1,249, 1,230, 1,216

Quoting DownFAZ, TLT, V, ESI, BMC, CELG, SYMC

Quoting UpPCLN, GOOG, CTXS, AAPL, WYNN, BIDU, AMZN, AKAM, CMG, GS, CF, CRM, SINA, LNKD, CAT, WLT, SOHU, URE, CLF, DE, GMCR, IBM, SMH, SLB, FCX, SWK, ATI, NTES, C, VMW, FFIV, DECK, ATI, UNP, MOS, UCO, COH, LVS, FAS, TIF, NKE, ANF, MCP, HAL, ANR, A, CSTR, POT, HLF, SNDK, DOW, X, GLW, STI, ZION, SWN, JNPR, RVBD, FWLT, WDC, SWKS, TBT, SLW, PCX, ZAGG, NVDA, BAC, INFA, RCL, NDAQ, CIEN, CROX, JDSU, CRUX, CDE, F, AKS, CHL, CREE, KKD, NFLX, JOYG, FSLR, FFIV, CTSH, URBN, BIIB, CHKP, WFM, XRAY, QCOM, ALXN, ADSK, INFY and more…

4 comments:

Mike said...

Dave

I truly appreciate your efforts and diligence in maintaining such a useful blog. I faithfully read it.

Would you please share the method you use to select your "Stocks to Watch"? I find that managing a watch list is a very timely and cumbersome process. Any suggestions to streamline this process would be appreciated.

Best Regards

Mike

Scott Avery said...

Dave, I had an excellent day. Was prepared and acted. You have helped so much in this area.
I would like to know what Mike is asking as well. Do you use the investools technical page for finding out which stocks broke their 30 day as you mentioned for your one green arrow strategy? Or do you just drill down on the best sectors. Or do you have your own custom way to find the "stocks to watch" information when you post it. thanks

Anonymous said...

You called this one right again. Many thanks!

Brian McAllister said...

Dave--you were so right again. I always follow the macro news and may lighten up or take out insurance ahead of news, but generally I follow the lead of the charts and today it certainly paid off!

Scott & Mike--Dave can correct me, but I think he mainly follows the NDX (Nasdaq 100) stocks. But if there is something else Dave is using, I would love to know also!

Thanks Dave.

Brian