Monday, September 22, 2014

Chart Alert: Markets Signal Weakness, Check Out These Trade Setups

Bottoming Tail On Spot Silver: Possible Bottom

Silver flushed almost 3% in overnight trading. This downside continued the sharp slide from Friday for a net max loss of 6% in two days. Silver has fallen approximately 20% in the last few months. However, a bottom may be finally in place. In early afternoon trading today, silver has sharply recovered and is putting in a possible bottoming tail on the daily chart. This is a bullish reversal signal and could mean upside is on its way.


Gareth Soloway
Chief Market Strategist
www.InTheMoneyStocks.com


Southwest Airlines Engulfing, Reversal Candle Signals Downside

Southwest Airlines Co (NYSE:LUV) had an engulfing, reversal candle on Friday. When this occurs at the top of a chart, it is extremely bearish. Today, further downside is confirming the move. Southwest should have put in a top. Please also note the mega sized volume that accompanied the engulfing candle on the daily chart. This adds more credence to the reversal. While small bounces will happen, the likely outcome of this chart is a move to $30.00.

Gareth Soloway
InTheMoneyStocks.com


Take Me Down To The SolarCity Corp

Shares of SolarCity Corp (NASDAQ:SCTY) are being taken down by roughly 7% today. High beta stocks are all declining but the solar stocks seem to be getting hit harder. This could have something to do with the large decline in crude oil over the last several weeks. SolarCity Corp (NASDAQ:SCTY) has had a nice decline over the last couple weeks and is down just over 20% from the $75.90 high made on September 12. With such a large decline I have looked at the money making levels where support will be found. The two levels I like for a bounce on SolarCity are $58.90 and then further down at $55. This is where this equity should find support and traders can go long for a bounce.

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Parm Mann
Elite Round Table
Follow me on twitter: @ParmMannTrader

Phillips 66 Runs Out Of Gas

This morning, leading oil refinery stock Phillips 66 (NYSE:PSX) is trading lower by $1.36 to $84.39 a share. The stock seems to be declining lower with most of the other leading refinery and energy stocks. Day traders should watch Phillips 66 stock around the $84.10 level as this should be near term intra-day chart support. This is an area where the stock is likely to stage a bounce.

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Nick Santiago
Chief Market Strategist
www.InTheMoneyStocks.com

Hot Off The Press: Monday Morning Trades

Friday, September 19, 2014

Adobe Systems Incorporated Headed For These Levels

Adobe Systems Incorporated (NASDAQ:ADBE) shares have come under pressure over the last few weeks. The stock was trading as high as $73.58 as recently as September 9. Since then Adobe Systems Incorporated (NASDAQ:ADBE) stock has declined almost 10% and is starting to get attractive for a long side trade. The first level on watch for next week which could provide a profitable bounce is $65.50. That is slightly below the 200 day moving average and there is also previous consolidation there, which should provide some support. The second level is more for conservative traders and that is $63.50. Have this chart on your watch list for next week and look to make some money at those isolated levels.

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Parm Mann
Elite Round Table
Follow me on twitter: @ParmMannTrader

Special Edition: Trade This Action

Thursday, September 18, 2014

The Nosedive Trade, American Airlines

Shares of American Airlines Group Inc. (NASDAQ:AAL) have come under pressure the last two weeks even as the price of oil has dropped. This drop in oil should help American Airlines Group Inc. (NASDAQ:AAL) as it cuts their fuel prices, helping their bottom line. The stock has now created a "Head and Shoulders" top pattern on the daily chart. If this chart pattern should trigger, it could easily send the stock down to the $25 level. Let's look at how you should trade this stock...

Trade The Pattern:

The trade is simple, the first close below the neckline on a daily chart time frame basis is when you go short AAL. If it then closes back above the line, consider the pattern voided and you stop out for a small loss. This is a low risk, high reward setup and you should certainly take advantage of it. Like I said, abide by the levels, they will guide you to trade this pattern for either a very nice profit, or a fast exit for a small loss.

For live alerts and to know exactly when I enter and exit trades like this and more, come and join myself and 2 other great traders at the Elite Round Table. Within the Elite Round Table, we give members our detailed trade alerts, with all the information you need to manage the trade on the fly and not be tied to your computer. For our FREE market moving news and alerts join our mailing list here.






Evan Poechman
Elite Round Table

Beneficiaries of the Alibaba IPO

Just take a look at these leading financial stocks that are trading higher. These six firms were listed as Alibaba’s lead underwriters: Credit Suisse, Deutsche Bank, Goldman Sachs, J.P. Morgan Chase, Morgan Stanley and Citigroup. These are the firms that will be the big winners for bringing public the largest I.P.O. in history. Alibaba is expected to raise more than $20 billion.