Wednesday, January 18, 2012

Action Continues to Be Positive on Wall Street - Video with Setups for Thursday

Another very good day today on Wall Street - the markets shook off the late selloff yesterday and individual stocks acted super.   I was slightly short going into the session but thanks to stops I was out of TVIX and TZA quickly and entered various long positions throughout the rest of the session as my work schedule allowed.

I am pretty much fully long right now and as long as the market acts like it is right now, I will do my best to hold those stocks (as long as they act well as well).   I saw a ton of setups tonight in my scans - I hope this isn't some sort of contrarian indicator that the market is about to pull the rug out, but for now I am just going to go with it.   If we get another very strong session tomorrow, I will likely book some profits, but overall we are not really overbought and the market is acting super.  Hopefully it continues.

Here's a short five minute video going over the stocks that stood out to me tonight.   I posted a few of my "favorites" below as well.   I don't know how many I will play because I am long already but you never know what will happen. 


ACOM
DAN
LIFE
Z
All Charts from TC2000, Courtesy of Worden Brothers, Inc.

I hope you have been able to play some of the setups I have been sharing so far this year as many have paid off handsomely.  Some examples over just the past week or so(click on link for charts) include...
By the way, I was barely stopped on of CCJ on Friday - really kicking myself over that one.  Those are just the ones I posted on Chart.ly - many more setups that have been profitable can be found in the videos so please check them out.   Best of luck Thursday.

1 comment:

Anonymous said...

hi mac

my system has warning signal on CCJ today, i think we should stop profit here, and other long positions too.

have a nice weekend.

mini me