Wednesday, January 11, 2012

Stock Market Review and Stock Setups for Thursday

Hi, traders.  Here are some more setups for tomorrow.   The ones I posted yesterday were good and bad.  The two bigger caps (MELI and SOHU) acted like crap intraday and I got burned slightly on both, but CROX was super after trading around $16.80 yesterday after the close.  I only entered that in my IRAs unfortunately - passed on it in the main account (no clue why).  Both CCJ and BEE had slight up moves today and hopefully will see more follow-through tomorrow.  BEE in particular had another very heavy volume day today.   KMX had a little move as well but the real money today was in the low-priced junk stocks.   Solar stocks were on fire and if they can rest and set up little flags, then they might be worth looking at soon.  TZOO did its best NFLX impression today, moving higher in a big short squeeze.   Wish I would have recognized that earlier - I did pass on it at lunch though so my bad.

So far in 2012, my trading has been iffy at best.   I am just kind of spinning my wheels overall - some small gains but those just cancel out some small losses.   I sold way too early on NFLX (in around $74) and that cost me a huge win to start the year.   I was also early in these China names - I was long DANG yesterday but stopped on it (a day before it moves 14%) and was also long DATE last week but it did nothing and I got stopped on it.   In this market, stocks are moving but you have to time them right and hope for some luck in terms of which one you pick.   Watching the market all day would help a lot, but I can't really do that so I'm doing the best I can right now using buy stop orders and sell stop orders as needed.

Here are the setups for Thursday - I am already long several names and so I won't enter any until I am stopped on the ones I have now.   That could easily happen tomorrow so I am just trying to be prepared.  Good luck Thursday.

All Charts from TC2000, Courtesy of Worden Brothers, Inc.

1 comment:

Anonymous said...

hi mac

EBIX seems like a final distribution for me, it needs certain retracement. can be a long hammer/inverted hammer into $24.50, just like what it did in early june.

mini me