Trade Setups

Added another short position to the portfolio with Adobe Systems (ADBE). I was missing some tech (and still looking to add a good setup within the Financial sector), so I thought that this would be a good start. I also closed out my position in QQQQ at 45.11 at the open this morning – and

So far, the morning trading session has spent most of its time trading in a narrowing channel. Nonetheless, I don’t believe this sell-off is by any means done and over with, so I’m giving you three short setups you should be watching. Each of these provides a very nice set-up with a lot of downward

I found a gem of a set-up so I went with it. Beautiful double-top in a textbook fashion. Couldn't pass it up...I've never been a big chocolate guy anyways.

I’ve gone through all my charts this morning for short setups and I am just unable to find any solid short setups offering a solid risk/reward scenario at this moment. A lot of them have seen heavy selling since the open, so I will have to wait for some kind of pullback either intraday, or

Added Owens & Minor to the portfolio this afternoon, shorting it at $27.55. Couple of things to note on this one, the first of which is the nice downward channel it is trading in, particularly on the daily and weekly charts. However, I am going to be cautious of any break to the upside, as

This will probably be the one and only short that I add to the portfolio today. It was also a trade setup that I posted last Friday as part of the daily morning long and short setups.  As it stands now, I am about 45% short on the market. I did fade the gap this

Should the market close below 1080, I’ll be closing out my long positions taking whatever profits/losses I have in those that are still open. One position that I will keep is TICC. Here are three charts of stocks that I am looking to short. I’ve put my comments and mark-ups on each. Patterson Dental (PDCO)

This is the not-so-great side of trading the gap: You are right on calling for the gap to be filled, the problem is, the market stops you out before you can realize those profits, and instead you walk away with nothing but a loss. That’s the world of trading and that is exactly what happened