The following Short Trade Ideas have all exceeded their previously suggested stop criteria and will be moved from the Active Trades to the Completed Trades category: JASO, MU, STT, C, & FITB. There are several other trade ideas, both long and short, that have not exceeded their suggested stops but may be removed soon to make room for new trade ideas that offer better R/R profiles at this time. The AVL long trade also recently moved below its previously suggested stop level and will also be removed. (The AVL stopped out trade will also be covered under a separate post, assigned to the Completed Trades- Long category for archiving purposes.)
*+-In reviewing the current active short trades, I noticed that I had incorrectly typed 61.60 as the suggested stop on the previous update to the C short trade. My intention was to list the stop on a move above 51.60, where the red horizontal line [continue reading…]
*+-C short trade price target is 41.10 with a suggested stop over 51.60 (edit: 51.60 is the correct target, as indicated by the horizontal line on the chart. 61.60 was a typo).
*+-Regardless of the relentless bid under the market lately, the Too Big To Fail banks still look bearish from a technical perspective at this point. Although the current divergences and bearish price patterns can & will be negated should prices go much higher, at this [continue reading…]
*+-… but not too big to short. As a follow-up to the recently posts on the XLF short trade, here are the updated charts on the major TBTF banks; BAC, JPM, C, & WFM:
*+-Two weeks ago I had stated that a correction in the banking sector was likely as evidenced by the bearish charts of $BKX (KBW Banking Sector) as well as a few of the heavy weights of the financial sector, BAC, C, and JPM. At the [continue reading…]