Friday, November 5, 2010

A Few More Trades.


 PFCB is in a bear flag after a hefty decline. These are obvious black box patterns to manipulate so I would only consider this as a short when it breaks down below the bear flag, and even then I may still phase into the position in case of more head fake volatility, but ultimately it looks to me like after any black box volatility, this trade wants to go lower. MACD is negative on a very long scale-52/104/9 and the volume is correct for the price consolidation. The initial target would be around $40 at this time.

 SHZ, despite today's gains on rising volume, looks like it's pulling away from the pullback. Especially if today closes near the high, I'd think there's a very good chance of seeing a similar follow through move Monday or early next week. 3c/MACD and volume all look good on this one.

TBT is a less leveraged (2x) version of the TMV trade which is up over 4% since being featured yesterday. There are breakouts in both from their bases and look like they are bracing for a move higher. Stops depend on you risk tolerance and risk management, but under the recent pullback low would be a decent stop with room, under the breakout level at the red horizontal line is a bit tighter. Again, MACD, Volume and 3C look good on these trades and TBT's initial target would be around $38-$39.

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