DONT FORGET TO CHECK TRADE GUILD

The article calling the reversal was posted Monday afternoon, it came true almost to a tee using 3C, it's not me -it's my indicator. Check it out.

THIS IS WHAT WE'VE BEEN WAITING FOR

It's time to start loading the truck up, don't be reckless, you may want to initiate positions and add to them on pullbacks (if you didn't already today based on my last post).

I have a lot of ideas, longs, stocks, and ETFs. Again, don't be reckless, stick to the 2% rule, but get that cash to work in the market. Downside moves can be very fast and you don't want to miss them-FEAR is stronger than GREED!

Bulltrap to be sprung?

A close below 1207.50 area should do it, check the recent shorts. Some other ideas would be ETF's that are Ultrshort or short financials like SKF (long) or FAZ (long). You may also want some market exposure through an ETF like TWM. Right now, I have a lot of shorts on the spread sheet, most will be good plays, even if they have crossed through their stops. A Bull trap usually sees a fast move down, that is why I saw get in there and get broad exposure to the short side, maybe clean up the longs. If we get the close I mentioned, you'll want to have at least 50/50 short/long exposure and maybe even heavier on the short side, although another day of confirmation will allow you time to get up to about a 70/30 ratio.

Tonight, I'll post individual ideas that are new, I want to make sure we get what I think we are going to get before I have you commit capital that may end up being counter trend. There are very few longs I would consider AT THIS MOMENT.

Look for a new Spreadsheet tonight with new ideas. Remember not to make any short position too big, they must conform to the 2% rule/position sizing and I'd enter half of the intended position s close to the close as possible unless the break below the mentioned level comes intraday on heavy volume and the retest of resistance-(1207 area) fails, then intraday trades would make sense, but if the close is not below our level, you'll want to thin them out before the close.

Bull Trap

Take a look at the last post at Trade-Guild.net. Then take a look at the recent shorts. I'll add more tonight, but I think there's a strong chance a bulltrap was just set.

Grab Bag

I'm having some trouble with the spreadsheet tonight, so I'm listing the trades here as you'd find them on the spreadsheet.

Symbol/Position long or short/ Stop/ Notes and Targets



COIN/ L/ $.86/ target $1.48 speculative

AKS/ S/ $20.10/ target $12

XOMA/ L/ $.63/ target=1.50 speculative

LSCC/ L/ $3.81/ target $7

CPF/ L/ $1.90/ speculative, but could be a big winner-target $5.75+

EMKR/ L/ $1.15/ TARGET =POSSIBLY $4

CRBC/ L/ $1/ VERY SPECULATIVE-COULD BE A BIG MOVER-TARGET AS HIGH AS $5+

BAC/ S/ $19.07 /LIMIT ORDER <$18.11 TARGET $14, MAYBE LOWER

STD/ S/ $15/ LIMIT ORDER<$13.50 TARGET BELOW $10

NVDA/ S/ $17.40/ LIMIT ORDER< $16.36-TARGET $14-$11.50

STP/ S/ $14.67/ TARGET $11-$8

I'll get them on the spread sheet as soon as it starts behaving. We had 7% and 10% movers today from last night's list! I hope you made some $$

LONG TRADES

Here are a few nice looking longs that look ready to break out of bases. Just remember your risk management rules, no position loses more then 1-2% of portfolio value, do not over correlate positions and be cautious with speculative trades. Last, take a gift when you get it.

Good luck. Intermediate term/long term, still looking for a significant move down.

GOOD START

We have what looks to be a change in sentiment, still, I advise you keep your positions reasonable until we get solid confirmation. I listed quite a few ETF's, but no stops or targets yet, I want to see how things develop, but these are selected for the maximum potential profits.

The other trades are decent looking as well.

As always, in a situation like this (uncertainty), I would say buy your position in 1/3's.

We'll see this week if this is the real thing, but volume Friday showed us a commitment on the part of traders we haven't seen in months, maybe a lot longer. Be ready, be cautious.

New Trades up

Read the rant at T.G.

I posted a few longs tonight, but I think FRE/FNM are also a couple of longs worth a shot. Email me any companies you know the Feds have seized that is still publicly trading and I'll take a look at it and see if there's anything there.

Toes in the Water

Check earnings dates before taking any of these trades. They are about evenly split between longs and shorts. The market hasn't decided yet with A's putrid numbers that were more like a pig with lipstick. Today however, INTC blew out earnings, however it's all about sentiment. AA got slightly spanked today, INTC will probably be rewarded tomorrow, but the question is not what did they do, it is what will they do and today's report might be a hard act to follow next quarter.

So I've listed a few trades that looks decent whichever way this thing breaks. Interestingly, financials didn't look great....

There may be some targets there or some double ETFs.

Remember, it's earnings, if you have to trade, do so cautiously.

Read this

That's my take and even though AA is down a little in after hours, we need to see the reaction tomorrow, as well as the six banks I mentioned-you may want to look into going short in one of those. 

Above is an hourly 3C chart-note the negative divergence (distribution) into the top-same with the blue (long term) 3C.

And here's today's 1-min 3C chart? Did someone know something as they sold into the gap up this a.m.?

I'll post trades tomorrow, but I want to see which way sentiment goes.