Posts Tagged ‘ NASDAQ ’

TRADE REVIEW $CELG

Easy day in the markets , $SPY $QQQ $ES_F are still in full on bullrun, with no stopping. We caught a trade in $CELG, 3 attempts in this stock before it actually started running in the 3rd trade which was a massive gainer ūüôā

 

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Market Index and Trade Reviews of $GMCR $PCX

MARKET REVIEW JULY 5, 2012

$DJIA DOW JONES INDUSTRIAL AVERAGE: -.35%

$SPY S&P 500 : -.29%

$QQQ NASDAQ: .01 %

All 3 market indices closed pretty flat  for the day, making it easier for traders to identify stocks where money was flowing into. Lot of stocks with high short interest like $FIO $NFLX $GMCR $DRYS $GNK saw short squeeze in them.

ONLINE TRADING CHAT ROOM

There were some amazing trades taken by our traders in our free live online trading chat room today.

Here are two of the most lucrative trades. All the stock trades were called out with the stop loss pre-detemined before entering the trade. If you are interested in joining our trading room, email me at dchsn6@gmail.com

$GMCR STOCK CHART TRADE REVIEW

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A lot of stocks with high short interest were getting a lot of momentum during the day and $GMCR was just consolidating near its highs.

1st trade was on the break of consolidation, on the break of intraday highs we took our 2nd trade and scaled it out for nice profits.

$PCX STOCK CHART TRADE REVIEW

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The coal sector which has been one of the beaten down names has been getting of momentum and interest in the last few days and we saw $PCX coming out of the range, we took the first entry on the break of consolidation, we then added more on the break of intraday highs and then scaled it out infront of  daily resistance for maximum profits.

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Thanks for reading and cya in our online live trading chat room soon.

dchsn6

IS IT TIME TO BUY THE DIPS?

At this point of time I would still be a bit cautioned about buying the dips. However, all the indications from the S&P 500 $SPY and NASDAQ $QQQ chart it looks rather constructive.

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1. At point A we had a failed breakdown of 131.20 level which was clear level of support.  Failed breakdowns lead to big snap backs.

2. At point B, we can see that market gapped down on June 27th and June 28th and on both days the bulls took control and bought it right back up.

3. At point C, the utmost important resistance of 136 was breached rather convicingly on high volume on June 29th. Now, some traders may argue that on July 2nd and July 3rd the follow thru days was on lighter volume. But they shouldn’t forget that we had July 4th coming up, hence trading a few days before is usually light.

for $SPY we still have 138.40 resistance coming up. If your looking to intitiate long positions, I would recommend you to wait for either a pullback to 134 which is the gapfill or maybe look for a consolidation under 138.40. At this point of time, markets look a bit extended and a rest or a pullback should be considered as an opportunity to get in long.

At these levels on $SPY and $QQQ I favor the bullscamp, $SPY below 131.20  I will have to revaluate. But as a trader, for intraday trading I am willing to switch to bear camp on a dime.

I am also offering a 6 HOUR POWER DAY TRADING COURSE for new and experienced traders.

My previous Market Calls

If you would like to see how I navigate through these markets intraday email: dchsn6@gmail.com for free trading room request.

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