Trade Ideas

I've been scanning and here's what I have for you long and short, they'll hopefully be on the list tonight. Some are in position, some in position you can wait for a bounce if you like (email me for any questions or specifics) and some are close to trades. CLICK ON CHARTS FOR LARGER VIEW!!!

BYD

 The red trendline is the entry so you could if you like, go short here or wait for a possible bounce.

 The red trendline is the stop on the trend channel.

CQB

 Here the white trend line is the stop on the TC, and the red line is the short entry, so again this is a short now or on a bounce as long as it doesn't close above the white stop trend line.

 Here's the 15 min chart showing distribution into a false upside breakout, I prefer to wait for these false moves before entering a trade, it makes the volatility easier to deal with and the trades tend to be more successful/less stressful

FAZ-This one has been mentioned recently.

 The above charts were short sales, this is a long buy on an inverse ETF which is short exposure to financials. My stop would be at the red trendline and a long position above the white trendline so this one is very close, there may be a pullback though so you may want to phase into the trade. I always prefer to phase into trades when they allow. ADX has shown a change in trend, that would be the downtrend.

 FAZ's Daily 3C chart looks great, this is the most important timeframe and shows the depth of the conviction of institutional buyers. Also note the recent volume.

FIG (short)

 Here we have a trend channel near break ending the uptrend, the white line is the stop, the red line is the limit order, so below $6 is where I like this trade with an initial stop of $6.75

 The hourly chart shows what also appears to be a nice false move just yesterday-again, note the volume.

LZB (long)

 LZB looks like it's ready to put in a second leg, this is a tight trade, the stop is at the red trend line, the limit entry is above the white trend line. This is more of a swing trade.

 LZB recent 5 min chart showing a positive divergence.

RCL (short)

 Here again we have a break of the trend channel which has been fairly clean. This could be shorted here I believe or on a bounce, the red line shows where it became a short and the white line is the initial stop.

 RCL's daily 3C chart shows the negative divergence/distribution and the volume is pretty ugly lately.

SFY (Short)

 Here's another recent break and current short position under the red line, the white is the stop for the short. Note ADX also showed a signal of the uptrend ending.

 60 min 3C, TSV, MoneyStream all look horrible and show the negative divergence at the recent highs. The volume is also quite extreme.

TYP (Long)

 ADX again suggesting the downtrend is ended, the trend channel has this as a long at the white trendline with a stop at the red.

Here's the daily positive divergence, very nice and it appears this has been under accumulation for several months suggesting the market is about to change to a downtrend and this should be able to support a nice uptrend.