Hey hey!
Consolidation day again in SPY with very little volume (Christmas Eve was a half day and traded 43.4m shares...today only traded 74m). This "chop" is very difficult to trade and after this rally a lot of stuff is pretty extended. I'd like some pullback to reset some of these charts but in the mean time I'm continuing to play intraday movers. I finished slightly down again today, about 100 bucks , so no biggie as I know that this week when I hit my winners they will be worth $1-1.5K each. I am also happy with my performance today as all of my trades were very controlled and risk was calculated for maximum aggressive targets. These may be lots of small losses but when they work, they will be huge wins, so time will be good to me overall I feel. We almost laid the hammer down on HIMX but it wouldn't hold about $15 so we passed. I can feel it coming though...soon we will break out that $1-2k day and it is only gonna go skyward from there! Not much on my scans tonight, though there were some nice intraday movers which could continue:
IPCI long over $4.50 for a range breakout
RGSE long over highs for a continuation ... that $4.75 level was very big for it. Also keep other solars on watch as they could go if RGSE keeps going (CSIQ, JASO, JKS, SPWR, etc)
ADT short under $30. I know this sucker is gonna crack...just gotta get the timing right. If I do take this it will be small as my rules currently say no shorting.
Hope you guys had a good day with all your plugs and fcels and whatever the hell else you are holding for like 1000% gains like crazy people!!!!
Chris
DISCLAIMER: I am a day/swing trader. LONG means I'm expecting price to go up, not that it's a long term trade. SHORT means I'm expecting price to go down, not that it's a short term trade. Just because I post these here does not necessarily mean I'm buying/shorting them. They are ONLY ideas, may not be traded at all, and if I do take them, 99% of the positions will be closed by the end of the day. One other thing...any swing recommendations should be taken w/ extreme caution - lock in some profits as I am not checking these to see if they have earnings or anything before posting, so if they do they could make crazy moves. Do your own DD on them. If ya have any questions, feel free to ask below and as always, share your ideas too. The more the merrier!
Submitted March 10, 2014 at 09:01PM by greenbartrading http://ift.tt/1i1GfRh
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