Trade Setups

It didn’t take me much time this morning to add a new position, and I did so by shorting Hawaiian Electric (HE) at $28.44. The stock is forming a very nice head and shoulders pattern this morning, and the only drawback to this play is that it hasn’t broken the neckline of the aforementioned pattern.

So far today it has been relatively quiet for me. I sold out of Canadian Natural Resources (CNQ) at $30.28 from $28.78 for a 5.2% gain and haven’t done much else. I’m tempted to add another short position to the portfolio to add some balance to the existing 4 long positions I currently hold.  In

Market is on a tear yet again, but if it is like anything similar to the previous four peaks that we’ve seen off of the 6/4 lows, then it would be easy to surmise that we are probably ready for yet another pullback. But of course once you start catching on to the market and

Here’s another trade that I took today and am currently holding long – Canadian Natural Resources (CNQ), where I got in at $28.74 with a stop at $27.85. If this one can continue to move higher, we should really be in for a traeat – as it is confirming the inverse head and shoulders pattern and

I jumped into Power-One (PWER) this morning at $5.05. I’ve placed my stop-loss at $4.84 as you can see on the chart below. This is one of those high-beta stocks and so there is some additional risk involved to holding these kinds of plays overnight as I plan to do. I’ve watched this particular stock

I was patient this morning, maybe a little too patient, because while the market gapped down at the open, and started trickling higher thereafter, I refused to go short anything until we filled the gap. I kinda, sorta thought we’d see the market head back lower after that, but what I didn’t expect was the

I’ve been watching Sonic (SONC) and I’ve gotta say, there are few short setups that I like better than this one – that descending triangle that has formed is picture perfect, and I’m taking it short at $9.74. The Power-One (PWER) trade also looks inviting from a momentum stand-point, but right now, i’m more interested

Very choppy day today and I don’t expect to see much different as we head into the FOMC Statement tomorrow. For now, here are two great long and short setups that provide ideal risk/reward opportunities.  The AMZN chart looks stellar to the upside as it pulls back to its previous breakout level, and a breakdown

Now I’ve got 3 longs and 3 shorts. While that may change before the close of the day, depending on what the market does, I’m currently at a point where I’m comfortable with the balance in the portfolio.  I went short on BRO just now, and the setup looks terrific on both the 5min chart

I know I typically do a long & short setup but today, I’m feeling a little more bearish than usual, and so I focused my efforts on finding some short setups. Over the weekend the SharePlanner Reversal Indicator also went bearish, which has weighed heavily on my thinking as well.  We also saw the market