Wednesday, August 15, 2012

More Charts Setting Up, But Does It Matter Without Any Volume?

Much like Monday night, I see many charts setting up here once again (some the same ones).   However, if a chart sets up in a market that is asleep, does it matter?  That's the question I keep asking myself here.  Volume continues to be non-existent and that is making swing trading very difficult here.   I tried a few of the charts I posted on Tuesday but failed on all three with small losses.   I hope that I have better luck tomorrow if some of the names below trigger, but I don't have my hopes up.  We are still in the summer doldrums and until traders come back from vacation and volume picks up, it is going to be hard in my opinion to get much going via a big push from the bulls.   Although it is a frustrating period, you always want to be prepared, so the charts below give you some ideas going forward.

MINI, RDEN, MMS, FIO
FTK, CDNS, PNRA, NKTR
URBN, KEX, CGA, AMZN
ACAT, SNPS, BCOR, TUMI
MELI, SOHU, ACOM, SNCR
Charts from TC2000, Courtesy of Worden Brothers, Inc.

Please check earnings dates on these names before considering any for positions.

No comments: