BMO – ES -5.00 and NQ -4.00 futures are lower about 10 minutes before the open in pre-market trading and point to slightly higher open…There are more stocks quoting down this although the volume is light…Watch AA earnings this afternoon and the institutional reaction…
Look at LDK a potential divergence bounce this morning…Also many short term bearish trades my be setting up with a potential break of support.
TLT is up 11 cents and the Euro is up 32 pips in premarket trading…this could mean higher prices on commodities gold, oil, etc…
NDX leaders AAPL and NFLX are higher in pre-market trading…AMZN, BIDU, GOOG and PCLN are lower…
Dave’s Insight for Monday: With the short term trend neutral watch for a potential break of support, move stops according to your rules to protect profits.
Setup Charts to Watch
Bull Flag Setups – XLF, FAS, STI, GS, FCX, SLB, CLF, SWK, WHR, UNG, C, DHR, JEC, ZION, NDAQ, URE, FLS, SNDK, ATI, DECK,NYX, AMD, AGU, AIV, IPI, MOS, AKS, X,
Horizontal Breakout – UNP, LVS , DE
MACD Divergence – CMG, CREE, CAKE, NFLX, CSTR, AKAM, LDK
Bear Flag Setups –ACN, SKX
SPX
Resistance: 1,281, 1300
Support: 1,256, 1,241, 1,220
Quoting Down – ESI, CF, DECK, HUM, CRM, WLT, AGU, GS, CREE, FWLT, PNC, X, VMW, FAS, POT, MHS, V, CAT, CLF, SPG, PCLN, APOL, BIDU, MICC, INFY, WFMI, ADSK, RIMM, LLTC, GOOG, COST, CELG, AMZN
Quoting Up – MCP, LDK, RVBD, UNP, SOHU, LVS, TSL, AAPL, GENZ,SHLD, NFLX, FSLR, ILMN, ALTR, ISRG, ADBE
5 comments:
Dave,
As usual - Lovely morning insights and setups.
Thank You Very Much.
Dave, I have followed your comments for a long time and I still learn something everyday from you.
My new year's resolution is to finally put conditional trades, because I have seen again and again that an alert doesn't work for me and it is because of the hesitation when the condition is met.
Sorry I was slow to send this email, but now you understand how I miss so many trades.
Dave,
This New Year improvement plan is working great! Last week with the market so erratic I had to fight the urge to bail on some of my trades (against my rules) but stood fast instead and actually made money. Great big BGO and I had a major sense of satisfaction with my score of 10.
Missed the AT Capstone being on tonight. It has been a standing appointment for Ron and me for a year and a half now.
Thanks so much,
Ron and Gloria Thomas
Good evening DAVE! Thanks again for asking us to figure out what worked and what didn't during 2010. That has helped me this new year too to hang in there with my trades. I really appreciate your guidance. Thanks! Judy
Ron, Gloria, Judy, Big Foot and Anony,
You're welcome! Focusing on rules and targets instead of price flutuation does make a difference. I'm glad you found new determination to do what I teach. It works, otherwise I wouldn't teach it.
2011 our best year ever!
Dave
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