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The PPT

The Investment Opportunities Watch List and a Swell Goodbye

Written by Zachary A. Musso On 6/17/2009 11:50:00 PM 1 comments
Another 1, 2, 3 watch list. This one was much easier than the last, but was still time consuming and was much different than the last. This watch list concentrates on intermediate to long term outlooks on tickers that have the potential to triple in price and value over the next two to three years.

Buy and hold?

You bet your sweet ass. The great thing about these tickers is that they can be swing traded as well due to their market cap and strength of their price pattern. Let's get started on the technical annotations for these 15 tickers:
  1. SD - Range trading (9.70 to 11.45) w/ Intermediate-Term Price Target (ITPT) support @ 8.09 and resistance @ 13.23
  2. DRYS - Declining price trend with a developing range (5.95 to 7.30); ITPT support @ 4.70 and resistance @ 9.00
  3. CRZO - Range trading (16.14 to 20.21) w/ ITPT support @ 12.63 and resistance @ 28.03
  4. SFY - General uptrend with support @ 16.78; ITPT support @ 14.33 and resistance @ 21.71
  5. MEE - Support @ 19.05; if this support is hit and MEE pops to the upside, KEEP YOUR EYES OPEN because the price pattern has the potential to turn into a head and shoulders price pattern. ITPT support @ 17.64 and resistance @ 28.64
  6. SGY - In a price decline, approaching second uptrend line; ITPT support @ 6.35 and resistance @ 10.29 (See chart below)
  7. AA - Gradual ascending price pattern with short term resistance @ 12.15; ITPT support @ 8.66 and resistance @ 15.27
  8. X - Uptrending price channel; ITPT support @ 34.09 and resistance @41.17
  9. ABX - Gradual ascending triangle price pattern; ITPT support @ 30.97 and ITPT resistance @ 39.10
  10. NUE - Range trading (45.50 to 48.58) with a gradual, uptrending price pattern; ITPT support @ 37.22 and resistance @ 52.57
  11. NOV - Uptrending price channel; ITPT support @ 31.45 and resistance @ 39.60
  12. CVX - TIGHT price channel between 67.24 and 70.24; ITPT support @ 63.65 and resistance @76.10
  13. EXH - Descending triangle price pattern, support @ 15.92; ITPT support @ 14.20 and resistance @ 23.77
  14. ANR - Descending triangle price pattern; ITPT support @ 24.78 and resistance @32.99
  15. FCX - Uptrending price channel; ITPT support @ 46.02 and resistance @ 59.59
There you have it, your Top 15 investment opportunities!

To explain the Intermediate-Term Price Target (ITPT) a little better, I've added the SGY chart in order to show you what I mean by these price targets:

SGY 6 Month, Daily

Read the annotations on the chart and that should be enough to explain the ITPT's. If you have any further questions, feel free to email me!

Ladies and gentlemen, this site will not be maintained for the next 12 days; I will not be posting while I'm in Spain, BUT I will be on Twitter and I will be emailing like a mad man. Any market questions you need me to answer, feel free to email me or shoot me a tweet and I'll get back to you as soon as I possibly can.

I hope everyone trades well and keeps to their rules while I'm gone. Please remember that sometimes you don't need to go long or go short and that sometimes it's okay to go to a full cash position and wait it out. I've seen plenty of people on twitter loose money because they wanted to, "Get in on this bearish action." Fuggetaboudit! Go cash and wait for your dip buy setups. Keep to your trends, watch your $UVOL/$DVOL ratio, catch your reversals with the $TRIN, and trade without emotion.

Hasta luego, adios mis amigos!


ZM

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The Swing Trading Solo Watch List

Written by Zachary A. Musso On 6/17/2009 03:14:00 AM 0 comments
Easy as 1-2-3, minus the fact that it took me forever to do. Tomorrow, the Investment Opportunities Watch List will be posted to the blog as well. For now, enjoy the technical setup descriptions for my Top 25 swing trade potentials within this pullback of sorts:
  1. OLN - Descending triangle price pattern with a double support (first one @ 12.28, second one @ 11.87)
  2. CPX - Ascending triangle price pattern with resistance @ 8.32
  3. REXX - Uptrending price channel but in the midst of a pullback; watch the base trend line of the price channel for a support as well as the 6.70 price level
  4. DELL - Breakout/Pullback setup; watch for the support @ 12.29
  5. CMCO - Ascending triangle price pattern holding on top of a support @ 12.21
  6. LDK - Range trading (11.55 to 14.22)
  7. GSI - Symmetrical triangle price pattern; keep your eye on the 5.20 price level
  8. AMAT - Range trading (10.41 to 11.65) with a tightening wedge
  9. AMKR - Ascending triangle price pattern with resistance @ 4.89
  10. GLW - Ascending triangle price pattern with resistance @ 15.95
  11. RX - Broke out of descending triangle price pattern, currently eyeing up resistance @ 13.73; watch for the range trading (11.82 to 13.73) if resistance is held
  12. HPY - Ascending triangle price pattern with resistance @ 9.67
  13. NG - Bull flag pop @ 4.46 with resistance @ 5.97
  14. SNDK - Ascending triangle price pattern with resistance @ 16.48 (due to the chart being an odd price pattern, it will be posted tomorrow on Twitter via Chart.ly)
  15. PDS - Broke down below ascending triangle price pattern and is setting up for a possible range trade (4.72 to 6.16)
  16. BTE - Ascending triangle price pattern with resistance @ 17.96
  17. FTO - Gradual uptrend; watch the volume distribution levels and a hold on the mother trend for a possible continuation of the uptrend and a test to the resistance level of 16.78 ( again, due to the chart being an odd price pattern, it will be posted tomorrow on Twitter via Chart.ly)
  18. SE - Ascending triangle price pattern with resistance @ 17.19
  19. PAAS - Support level @ 20.71 ($0.03 below yesterday's close) with a downside biased wedge
  20. STLD - Ascending triangle price pattern with resistance @ 16.16
  21. AKS - Ascending triangle price pattern with resistance @ 18.74 and overhead resistance @ 21.70
  22. HAL - Broke down below ascending triangle price pattern and is setting up for a possible range trade (20.86 to 24.14)
  23. MRO - Ascending triangle price pattern with resistance @ 33.34
  24. ACI - Like HAL and PDS, ACI broke down below its ascending triangle price pattern and is setting up for a possible range trade (16.21 to 20.39)
  25. HK - Ascending triangle price pattern with resistance @ 26.91
The above information is the brief overview of the price patterns that are involved with the Swing Trading Solo watch list for the next two weeks. As you can see from the technical descriptions above, the ascending triangle price pattern is still VERY prevalent and could still bring big rewards if we hit my target of 899 to 900 on the $SPX (Remember, a 5% decline and then a continuation higher). This correction was needed, although oil was not the leading cause. More or less, as Psando and HamzeiAnalytics from StockTwits (shout out to both of you guys) pointed out to me today, it was profit taking and the volatility of options expiration week.

I'm expecting a pop sometime into the back 9 of this week; in my guess, it would be Friday during the actual options expiration date. Time to start building new positions soon IF AND ONLY IF the market doesn't keep dropping like a brick and moves into a gradual decline to the 899-900 level into Friday. Keep your eyes on the $UVOL/$DVOL action throughout the trading session tomorrow. Any shift that leads to a heavy volume accumulation and I'd consider covering shorts.

If it matters and if anyone is still paying attention to econ. data, the CPI (Consumer Price Index) comes out tomorrow at 8:30am. Be prepared to watch some more negative action tomorrow if it's worse-than-expected (which it most likely will be due to inflationary adjustments of grocery prices), for it just gives the bulls more of a reason to slip into cash (if they haven't already) and the bears to flip shit and buy some more death trap iETFs.

Enjoy your early morning coffee if you're already up. For now, I'll take my cat nap and see all of you on the TweetDeck in 4 to 5 hours!


ZM

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For the Week Ahead - 6/15/09 to 6/19/09

Written by Zachary A. Musso On 6/14/2009 11:55:00 PM 2 comments
Good evening all! Hope everyone had a sunshine-filled, glorious weather weekend. My weekend was action-packed, and to my Twitter followers, I apologize for the lack of updates.

First order of business: On Thursday of this week (June 18) I will be on a plane over to Europe to tour Spain for 12 days. I am attempting to get a side blogger to post economic updates while I travel, and I am thinking of a way to add pics to the blog since I will not have either of my laptops with me on the trip. Although I'm going to miss the markets and helping all of you out via blog posts and twitter discussions, I can't even tell you how much I am looking forward to my 12 day vacation. I will be going full cash after I get out of my FAZ test position, and from there it will be strictly analysis up until Wednesday night. After that, it's Adios til June 30!

Now to the markets. What did we do last week? The indices consolidated... Every single day. Solar exploded from Monday until Wednesday. Oil broke $70 a barrel. TLT continued its drop. There were plenty of small caps that broke out, and there are more to come. But just what is driving this market higher? Is it speculation? Is it the inflation defense buying spree? Is it Unemployment, or possibly the positive outlook on the Housing Market coming to a possible bottom?

Who knows, and frankly, who cares. The technical aspect of the market is the thing to watch right now. Think of it as a game of baseball, the Bears vs. the Bulls:
  1. The first inning was Bear Stearns
  2. The second inning was FNM and FRE
  3. The third inning was the November bottom
  4. The fourth inning was the Obama "rally"
  5. The fifth inning was the Deflation/Inflation war
  6. The sixth inning was the March bottom
  7. The seventh inning was the Basic Materials/Energy rally
  8. The eighth inning was the start of the consolidation
And now we're here, a slightly positive YTD percentage for the DJIA and on the verge of a major move. The Bulls are up to bat, and the Bears are ready to throw a curveball. So, the proverbial question, who wins? Nobody knows, and everyone is waiting for a catalyst to move the market in one way or the other. My opinion? It's a drop in oil that causes the market to correct itself. I'm feeling a 5% drop in the $SPX before breaking to 975, possibly 1000 by the beginning of fall.

This past week was a hell of a learning experience for me. I was quite upset with the way I traded, and although I broke even, I had to really work in order to end the week at 0%. Analyzing this week on Friday evening, I realized that I had way too many tickers under my belt and that I was attempting to concentrate on too many charts at once. Because of this, I missed opportunities in some tickers, and if there's one thing I hate the most, it's missing opportunities that I could have easily eaten up and spit out +10% gains or more on.

With that said, the Swing Trading Triplet has been reduced to the Swing Trading Solo - my Top 25 tickers for the week that have solid setups and will be reviewed on a daily basis. The Swing Trading Solo will be updated on a weekly basis and will be reviewed on every Sunday evening post. This week's Swing Trading Solo watch list, however, will be posted mid-market tomorrow (apologies for the inconvenience, but the weekend absorbed my life).

With regard to other watch lists, I will continue my Top 5 Friday, Earnings, and ETF/iETF watch lists. I will also be replacing the one swing trading watch list (Investment Spotter) to a permanent, long-term outlook watch list called the Investment Opportunities watch list (cute, right?). There are a ton of tickers out there that have the potential in the next 5+ years to be up 100% or more if you get into them now or on the next leg down, so having an investment watch list is always important to have.

This post was an update post giving all of you guys what's going down for this week. I am currently 85% cash and 15% short via FAZ, and I will hopefully be able to exit that tomorrow or Tuesday via a sell confirmation from the Daddy Moose TGS. To wrap up tonight's post, I give you this week's Top 25 - Bottom 25 Industries:


Hit the sheets, and kiss your significant other good night - Tomorrow kicks off a new week to bank some coin!


ZM

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Time to Short for the Shortest of Short-Terms...

Written by Zachary A. Musso On 6/11/2009 11:25:00 PM 2 comments
Courtesy of Jeff Lin @ FINZ.tv (Thanks Bro)

I told you to trade with caution. I told you to begin to reconsider downsizing your positions and begin trading with more of a flexible portfolio. And now we're here, in the midst of a possible market correction that could drop the market back to realistic levels (by this I mean $SPX 912 to 920). Today's action signified that the bulls are beginning to get a little tired and are more likely than not preparing for a profit-taking correction. Call me crazy, but I'm going to attempt to get away with some FAZ profit early tomorrow morning prior to the 9:55am Consumer Sentiment report (which, in my opinion, should be above expectations and could raise the index prices).

For the time being, I feel safe being short in tiny position sizes (which is what my FAZ positions @ 4.41 is). My current target is in the low 4.60's, but on a lower than expected Consumer Sentiment report, you might see FAZ go higher into the day. What, however, will key me in to drop this iETF in order to maximize profits?

Spotlight - $TRIN and the Daddy Moose Trading Guidance System.

Here is a naked chart of FAZ at the end of today's session:

FAZ 30 Day, 60 Minute (No Technical Analysis)

Hell of a downtrend this thing has had over the past 30 days! Who in their right mind would pick that up, it's bound to go lower... But slap some technical analysis on the sucker, and things begin to come together:

FAZ 30 Day, 60 Minute (Technical Analysis included)

The overall trend is still very much so negative, but FAZ has now held the 4.18 - 4.30 range twice now, not counting today. So, with the third test of this bottom range, I decided to hop in and test out a small, overnight hold position.

For extra confirmation, I factored in the Daddy Moose TGS, which involves multiple technical indicators (MACDH, RSI, Fast Stochastic, Bollinger Bands) combined together that measures ideal entry and exit levels for volatile stocks, ETFs, and iETFs such as FAZ. Put it together for FAZ, and you get some pretty solid entries and exits based completely off of where the %K of the Fast Stochastic (10,10) crosses above the RSI (20) for entries and below it for exits:

FAZ 20 Day, 60 Minute (Daddy Moose TGS)

The MACDH (10,20,7) acts as a secondary indicator as to where to enter and exit based upon how high or low the moving average diverges or converges. This technical indicator is used for the sole purpose of maxing out your profits, with the RSI crossovers being the most important piece of the puzzle.

To follow that up, I was also working voraciously on tracking the $TRIN reversals to match entries and exits within FAZ as well. The $TRIN actually serves as the tertiary entry/exit indicator when it comes to FAZ's price pattern:

$TRIN - FAZ Comparative Price Analysis (20 Day, 60 Minute)

I give props to my man Ryamada for giving me the following quote to appropriately close my blog tonight:

"We've researched, placed our entry/exits, and put up the cash. Now we wait."


ZM

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Early Theory Thursday...

Written by Zachary A. Musso On 6/10/2009 11:58:00 PM 0 comments
Sector ETF's and iETF's... Can they give traders an extra market edge that allows them to peer into each and every sector and diagnose how they could possibly react to certain market moves? Why do they exist?

These two questions are inquiries that enter my mind on a daily basis. Tonight, I'm going to go through a couple of charts that analyze the abilities that these ETF's and iETF's have when diagnosing certain movements in sectors like Energy (through the industries of Coal and Oil) and Basic Materials (through the sector as a whole). Let's get started.


Energy Sector ETF & iETF Analyses

Let's start with KOL (the Coal industry's ETF). KOL has been choppy over the past two weeks, with its trend just beginning to come out of its channel trading rut. Tonight, however, we'll be looking more long term, so let's check out KOL's chart with no technical analysis included:

KOL 1 Year, Daily - No Technical Analysis

KOL looks as though it could be putting in a bottom, with November marking the low and March marking the higher low. This is a very healthy outlook for the Coal industry as a long term whole, but when does KOL begin to pull back in order to correct its uptrend so it can move even higher later in the year? For this, we'll use some basic technical analysis skills to show the uptrends that have grown larger on a month-to-month basis, as well as critical support and resistance levels:

KOL 9 Month, Daily - Technical Analysis included

The current KOL uptrend looks promising, as this particular trend line has held for more than a month. The current support lies at 23.20 (an old resistance) while the current resistance lies at 27.08 ( a point at which KOL has held off upside price action before). In my opinion, KOL pulls back the next time this resistance is hit, while the bulls eye up a low volume, 3 to 4 point drop prior to goring the Bears alive and buying up KOL for the long haul.

Comparatively, the DIG/DUG (Oil Bull ETF and Oil Bear iETF) relationship is an interesting one that should be noted only by cross-examination of their charts:

DIG-DUG Comparative Price Analysis

A shocker! The ETF and the iETF based off of it are mirror images of each other... Just shocking! What happens, however, when you change the comparative PRICE analysis to PERCENTAGE analysis and add the Crude Oil Sub-Index percentage action? Let's take a look:

DIG-DUG-$DJAIGCL Comparative Percentage Analysis

Although this is only a percentage comparison on a 9 month time frame, it does show that the ETF/iETF micro-managed short strategy is still working for the traders who enjoy taking that risk. DIG and the $DJAIGCL percentage margin is nearly identical, while DUG is, yet again, an inverse to DIG. The 9 Month Percentage Crossover, if DIG successfully breaks out, could solidify a bottom in oil for all of those non-believers. With days like these in oil, DUG is only good for close-to-open swings and day trades.


Basic Materials ETF & iETF Analyses

With regard to the Basic Materials sector, analyzing the sector as a whole is one of the safest methods in order to produce gradual, long-term profit. UYM is the method I use when I track this sector, and, as you can see, the ETF has been doing quite well lately. The March bottom gave this sector new life and it has been moving higher ever since. Let's check out the UYM on a 9 Month time frame:

UYM 9 Month, Daily - No Technical Analysis

And now with the technical analysis portion included:

UYM 9 Month, Daily - Technical Analysis included

The uptrend still holds true, but like KOL, all good things come to an end. A commodity pull back this late in the game could bring some cause for concern and could sink this rally. An ideal situation would be witnessing this turnaround on lower-than-average volume, which would then indicate a phenomenal dip buy setup that could prove to be quite profitable. In the meantime, look to hedge your bets with the iETF of the Basic Materials sector, SMN:

SMN 2 Year, Daily

The volume accumulation since May has been increasing at a gradual pace, while SMN declined all the way to its all-time low of 15.84. This level has been hit this year, and I presume it will be hit before UYM runs out of its short term, heavily bullish increase. To see this comparison at work, let's run a chart cross-examination to witness the strength of a possible crossover and how it will affect the percentage gains and losses of these two trading tools:

UYM-SMN Comparative Percentage Analysis

The 20% gap is the difference between a probable bottom within the sector or pullback scenario that demands a retest of crucial support levels that have been manhandled since the March bottom. All in all, the fate of the basic materials sector lies in the hands of a little thing called average volume.

At this stage of the game, you can never be too careful. Hedge your longs with tiny iETF positions if you have extreme long exposure. Cover your shorts with tiny ETF positions if you have extreme short exposure. At the end of the day, position sizing and asset allocation is the key to success. Staying on the ball with your gains and scaling out of the positions you've banked coin off of is as simple as it gets. Make a plan now and be prepared for "End of the World" talk. I feel all of the morons coming out of their caves now as I write this post. The word going into the Back 9 of this week is "Caution." Good luck to all, and I hope this early edition of Theory Thursday will be beneficial for you in the very near future.


ZM

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Lunch Break Charts!

Written by Zachary A. Musso On 6/10/2009 10:42:00 AM 2 comments


It's lunch time, and it's time for some mid-day setups (PLEASE trade with caution; today is looking like it could get very ugly):

TTWO 6 Month, Daily

RX 6 Month, Daily

PDS 6 Month, Daily

MTW 6 Month, Daily

JRCC 3 Month, Daily

HAL 3 Month, Daily

CIEN 6 Month, Daily

Good luck for the rest of the session, and enjoy your lunch!


ZM

NOTE: Sold out of CPE for a +0.04, +1.5% gain; Also sold out of GSI for a +0.27, +5% gain... Holding ENER @ 18.12, IO @ 2.89, and OCNF @ 1.77

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Post-Close Position Update w/ Charts

Written by Zachary A. Musso On 6/09/2009 04:05:00 PM 2 comments
Yet another low volume, negative dollar trading session, with the $UVOL (5.89 million) to $DVOL (4.31 million) ratio closing @ 1.36 to 1. The dead even days are getting old, and I would like to see some type of market direction by the end of the week. Will we get it?

Probably not.

A catalyst is coming in the very near future; if you can't feel it, then book it to cash before you get caught on the wrong side of the trade. As for me, I ended the day down fractions of a percentage point, as I continue my bullish-biased position adding frenzy. My current positions are seen below with charts included:

IO 6 Month, Daily

CPE 9 Month, Daily

GSI 9 Month, Daily

OCNF 6 Month, Daily

ENER 6 Month, Daily

They're all pretty evenly asset allocated, so if one drops it won't eat me alive. All of these tickers are swing trades and will all be traded with their price trend and the way their volume accumulates or distributes. There is not much emphasis riding on their moving averages, so it's with these tickers, it's all about momentum and whether their volume can back it up.

That's all for now. Don't forget, tonight is Technical Tuesday! I'm on the hunt for a unique industry that could catch fire soon, so if you want me to base this week's Technical Tuesday off of a specific soon-to-be industry of your choice, leave a comment.

Hope everyone's market experience today was dollar-bill filled!


ZM

NOTE: Due to hockey festivities, I am not posting tonight. Instead, I'll be posting a couple of standout charts early tomorrow morning during the wee hours of the time of PreMarket. Hope everyone had a fantastic evening!!

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Welcome to the Jungle: Monday Recap w/ Top 15

Written by Zachary A. Musso On 6/09/2009 01:03:00 AM 0 comments
GUNS N' ROSES - http://www.youtube.com/watch?v=g_enNmzWn6Y

The word of the day is, "Wow."  If you had the opportunity to catch the last hour of trading, you probably thought the proverbial, "What the hell is going on," as every trader on the TweetDeck was when the market began rebounding right at 3:15pm.  It's not like today was the first day I've seen this type of choppiness in the market, for I've seen much worse.  The thing that keyed me into today's choppiness, however, was the $DVOL to $UVOL ratio.  The ratio was virtually even, ending the day at 1.34 to 1.  The importance of the $DVOL to $UVOL ratio today was the hard volume that came through the NYSE.  It was disgustingly low on both sides, to say the least, which is good and bad.

Good:  It's sometimes easier to intraday trade on lower volume.
Bad:  The low volume means there is a lot of money on the sidelines waiting to pick a side.

In this scenario, the bad outweighs the good by a very large margin.  Until volume begins to pick up in this market, we will stay consolidating and range trading without an overall market bias.

My $RUT chart for the evening is the index's intraday action, which shows how volatile today's trading session really was:

$RUT  1 Day, 1 Minute

As for the Swing Trading Triplet, a lot of tickers crumbled to the low volume sell-off, while others (LDK being numero uno) whooped some serious toosh.  I'm proud to say that at around 11 o'clock this morning, I nailed the LDK trade and I have Twitter as my witness:

ZMoose12$LDK looking sexy for a dip buy here... Gotta check out these solar names that are taking low vol. dips!about 15 hours ago from TweetDeck

Sadly, I couldn't buy into it because I only had 5% of my overall cash allotted as just cash, thus a very weak buy power that would have brought me slim profits.  Although profits are profits, I am not going to waste a day trade on pennies.  LDK, however, was not the only thing looking hot today.  I made a list of 15 tickers that have been diagnosed as my Top 15 for the week.  Seen below are the charts for the Top 15 with annotations included.  Enjoy:

ATLS  6 Month, Daily
**  Ascending Triangle price pattern holding; waiting for volume confirmation for a B/O **

PCX  6 Month, Daily
** Hit the bottom of its current range (8.25 to 10.03); Still holding uptrend, could push higher from here on an increase in buy-side volume **
NOTE: Overall volume has been decreasing since range trading began.

GSI  9 Month, Daily
** Hit the bottom of its current range (5.20 to 6.50); Holding uptrend **

LDK  6 Month, Daily
** BTFO, enough said.  Resistance @ 11.55 **

ENER  6 Month, Daily
** Downtrend continuation confirmed w/ low volume point decline; watch price range of 16.13 to 17.42, as well as a possible breakout on heavy volume within the Semicon. industry **

CSCX  9 Month, Daily
** Stuck in intermediate term wedge, long term downtrend; 4.21 resistance held **
NOTE: Biotech names are VOLATILE and must be watch on an intraday or long term basis, NOT on a 2 to 3 day swing trade basis.

REXX  9 Month, Daily
** Overbought scenario on top of small cap massacre this morning dropped REXX; Old resistance reversed and may turn out to be the new price support @ 6.70 **

SSW  9 Month, Daily
** Overall volume has been in a steep decline since earnings sell-off; Range trading from 6.46 to 7.42 **

AMAT  1 Year, Daily
** Held baseline trend of wedge price pattern, currently waiting for big volume accumulation day in order to see whether the price can be driven past the 11.65 resistance and the topline of the wedge **

RX  6 Month, Daily
** Downtrend currently being held @ the first support level (11.82); the second support level (11.09) could easily be retested if volume distribution persists **

ZEUS  6 Month, Daily
** 1 month wedge price pattern w/ a double bottom caused the momentum in ZEUS and other steel names to go nuts for a small period of time; watch volume-to-price relationship in order to diagnose a proper entry on the wedge breakout **

SGY  9 Month, Daily
** Extremely low intraday volume distribution which caused the price to retest the old resistance spot; a heavy volume push tomorrow would make 8.55 the new support **

OCNF  6 Month, Daily
** Holding uptrend on an overall volume decline; Resistance of 2.05 is the next price target **

HL  6 Month, Daily
** Holding uptrend, but on a large amount of sell-side volumel support @ 2.95 **

GLW  6 Month, Daily
** Strong resistance level @ 15.95; holding uptrend on lower-than-average volume **

Catch ya'll during PreMarket!


ZM


PS:  Starting on July 1, 2009, SolarFeeds will be launching a high-quality newsletter centered upon Alternative and Green energy stocks.  I will be doing the technical analysis portion, so if you want specific energy sector stocks, sign up for the newsletter by clicking the link below:

http://greenfutureinvestor.com

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For the Week Ahead - 6/8/09 to 6/12/09

Written by Zachary A. Musso On 6/08/2009 09:14:00 AM 0 comments
Do to my untimeliness, all I care to add today are my three watch lists for this week.  The only one that changed significantly was the Stock Hacker Watch List, which was injected with tickers from the Services and Manufacturing sectors as well as a conglomerate of the Semiconductor industries.  As seen in the spreadsheet below (click the link), the Service and Manufacturing sectors had a lot of industries in the Top 25 last week, while the Semiconductor industries were in the Bottom 25:

http://spreadsheets.google.com/pub?key=rkRbiyQvJUar9UipcyAS6xA&output=html

I now present to you this week's Swing Trading Triplet:


Stock Hacker WL

GSI
SPTN
CPSL
HL
OPXT
CQB
CRUS
BEXP
HGSI
CBK
SWC
CSCX
BAGL
EXTR
SWWC
BGP
AMAT
GBX
SONC
AMKR
GLW
ARTC
RX
CIEN
TXT


Swinger's WL

CYNO
GT
PZG
EEE
ICO
NG
ACET
SSW
ARM
GTE
FCS
AUTH
SOL
ENER
HASO
PDS
PDO
IO
BTE
FTO
MEA
DHT
STP
NWY
OCNF
SE


Investment Spotter WL

SVNT
OLN
CRS
CPX
CPE
TITN
SD
SWSI
DRYS
CRZO
EXAC
REXX
MMR
NGS
PACW
SFY
DELL
MEE
ATLS
CMCO
TECUA
MTW
SGY
LDK
BJS
EXM

If you're following me on Twitter, you know why I did this manually today and why this post is extremely late...  Damn wireless box...

Good luck to all today!


ZM

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$RUT Action & Top 5 Friday

Written by Zachary A. Musso On 6/04/2009 10:09:00 PM 0 comments
First of all, I've changed the site's layout if you haven't noticed.  Although it needed some readjustments, I'm giving a lot of props to a friend of mine I've made through this stock game who is a successful web designer outside of trading (thanks Jen).  In truth, however, "MooseJaw Jabber: Technical Trading" will soon be changed for the better.  All changes should  be done by the middle of next week or earlier, so stay tuned!

Now to today's market action.  Today was a great day for me (as this entire week has been) since I've been averaging close to 1.5% to 2% a day, which is big for me.  Besides my coin banking, today also marked the end of school and the beginning of trading full-time until August 26.  This is something I've been looking forward to, and now that it's finally here, I can't even begin to tell you how excited I am; words cannot do my excitement justice!

The technical aspect of today's market session can easily be defined by the word "breakout."  SO many small caps blew through significant lines of resistance, and being someone whose strategy has changed from expensive large cap stocks to puny, inexpensive small cap stocks, this was a great thing to watch.  As seen in the $RUT chart below, the small caps index is looking pretty hot right now:

$RUT  9 Month, Daily

With the exception of most of my retail stock tickers, almost all of my tickers on all three watch lists were up big percentage amounts today.  The one retail that outwitted, out-traded, and outlasted the other retailers was none other than SPTN, Spartan Stores Incorporated.  I point out SPTN because it was one of the positions I had the most faith in since I added it on Tuesday of this week.  This stock accumulated +0.96, +7% over the time I held it, and it was the second best swing trade I had all year (with ARM still being the best).  I have been suggesting this ticker since Sunday's post, so I hope some of you traded along with me and reaped the rewards!

And now, the moment you've all been so impatiently waiting for...  Ladies and Gentlemen, Boys and Girls, it's time for MJTT's Top 5 Friday picks:

ATLS  6 Month, Daily
** Breakout potential above 18.79; riding the uptrend well **

CMCO  9 Month, Daily
** Breakout potential above 14.62; held this resistance level before, but the Manufacturing/Construction industries are hot right now **

CPE  6 Month, Daily
** Textbook Ascending Triangle Price Pattern; watch for the push tomorrow with volume accumulation and this bad boy will go to $3.15 with vigor **

DRYS  6 Month, Daily
** Mixed sentiment within the shippers, but the price pattern uptrend is holding
and if the volume trend is similar to the last time a low volume decline occurred,
DRYS should be off to the races if as soon as volume accumulation comes in size **

MTW  6 Month, Daily
** Symmetrical Triangle Price Pattern is forming within this ticker, leaning
more to the upside.  More volume accumulation is the deciding factor
with MTW **

Two other tickers that are my main industry trades are PCX (Coal) and GSI (Steel).  If you've been following me on Twitter, you would have known that I was waiting for Steel to pop today, and pop it did.  Bittersweetly, I was too concentrated on what was going on with my own positions rather than watching for breakouts within the Steel industry, thus missing big hitters like ZEUS, STLD, and AKS.  Tomorrow is a new day, however, and I'm looking to get into GSI if I can.

Position Update:
  1. Sold out of SMN (+0.51, +3%) - 6/3/09
  2. Bought into IO @ $2.89 - 6/3/09
  3. Sold out of SWWC (+0.20, +4%) - 6/4/09
  4. Sold out of SPTN (+0.96, +7%) - 6/4/09
  5. Bought into CPE @ $2.64 - 6/4/09
To everyone trading the market tomorrow, I wish you luck.  I will be posting a PM update tomorrow with additional charts, so keep your eyes on my Twitter updates.  Enjoy the rest of your evening!


ZM

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Technical Tuesday: Services Sector

Written by Zachary A. Musso On 6/02/2009 11:06:00 PM 0 comments
On this week's edition of Technical Tuesday, I'll be breaking down some charts within the Services sector.  This sector's industries have been increasing in rank on Prophet.net's one (1) month analysis of all the industries that make up the NYSE.  Check out the Top 25 industries, seen below:

Top 25 Industries  (1 Month)

As seen above, 3 of the Top 25 industries in the past month (including the number one industry) was apart of the service sector.  Below are most of the tickers that comprise the service sector out of the Swing Trading Triplet (Investment Spotter, Stock Hacker, and Swinger's).  These tickers, in my opinion, are ready to go, so keep your eyes and ears on any service sector news you hear in the next week to two weeks.  Let's take it to the charts:

BAGL  1 Year, Daily

SPTN  6 Month, Daily

BGP  9 Month, Daily

SONC  9 Month, Daily

CBK  9 Month, Daily

Tomorrow, we get to see just how well oil import/exports did last week (10:30am = Crude Inventories).  We also get to see the next step in this week, testing whether or not Monday's enormous point push was legitimate or just another piggish incline.  All that and more, when Mother Market continues @ 8:00am for Pre-Market!

Get your game face on and your resilience ready.  Good luck to all tomorrow!


ZM

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MJTT Disclaimer

I am not, by any means, a financial analyst. All posts and tickers mentioned in them are my opinions and my opinions only. If you buy and sell ANY tickers because of my recommendation, you are trading at your own risk.

Zachary A. Musso - MJTT Owner/Author

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Fully Discretionary, Speculative Futures Trader - Technical Analysis Junkie - Bentley University Class of 2014.

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