Sunday, January 13, 2013

Ten Setups for the Trading Week Ahead

Hi traders.  Don't have much to say technically this week about the overall market because my views might be skewed by my luck for the first full week of trading in 2013.  I've been long throughout, even on margin here and there, and just can't seem to get any winners.  The charts I have entered look good, but it seems like I have picked ones that like to screw around and stop me out rather than breaking out and following through.  I'm already down 2% for the year and a little frustrated.  Sometimes you will have these stretches as a trader where nothing seems to go right - it's part of the game. 

If you follow me on Twitter, you know I have mentioned several times that the positive overall picture the indexes gave last week didn't seem to totally match up to what was going on under the surface.  Something just seemed off.  Maybe it was just the stocks I was watching, but with a watchlist of twenty or so stocks going into each day last week, I continued to see a market that was up overall but half (or more) of my quote screen was red.   All of my market scores remain positive and so my trading outlook is bullish, but I am on alert for more "weird" action under the surface as warning signs.  We're entering the heart of earnings season so perhaps this is why the action felt weird and (unfortunately) may continue to feel weird. 

Here's ten setups that I will be watching during the week ahead. With my luck so far, you may want to stay away but the charts below are the best ones in my scans over the weekend.  I was going to include BLOX in this list as the chart looks good but I've already been stopped twice on this stupid stock and it has replaced FIO as my official "devil" stock for 2013. Maybe I'll get some better luck this week.   Take care.
ALJ
 AVG
 BRLI
 EVER
 GWRE
 GRPN
 OREX
 POL
 GNRC
 XNPT
All Charts from TC2000, Courtesy of Worden Brothers, Inc.

1 comment:

Anonymous said...

I've experienced the same results over the last week although I'm barely positive. All had nice setups but no follow through.