This video provides analysis of the gaming sector via BJK, VanEck Vectors Gaming ETF and the airline sector via $XAL (Amex Airline Index) as well as some of the individual stocks within those sectors that appear to be setting up as promising short-side swing trading opportunities as well as a few potential long-side trading opps. Long trade ideas will follow in a separate video.
The following Short Trade ideas have either exceeded their suggested stop(s) or no longer look compelling from a R/R perspective and will be moved to the Completed Trades category: ACN: exceeded the suggested stop over 100.65 on July 17th. ALGT: came with 2% of reaching the first target but then reversed, exceeding both the entry point & any reasonable stop (none suggested). ALK: just printed a divergent high but has exceed both the entry level & any reasonable stop (none suggested). FAS: the FAS short entered on July 10th was stopped out on July 16th when XLF took out the previous [...]
ALGT daily April 29th ALGT (Allegiant Travel) was one of the seven short trade ideas in the airline sector that were posted yesterday. The chart on ALGT looks like something straight out of a textbook on technical analysis: First, ALGT recently hit the most extreme overbought conditions that the stock has ever experienced on the weekly time frame. Like most airline stocks, the recent bear market in oil prices was a huge boon to their bottom-line. It is far from coincidental that I have been bullish on crude for months while patiently waiting for the right time to short [...]
Major Airline Index April 28th I have a growing list of short trade candidates on my watchlist which look poised for a decent correction. I plan to refine the list and post some of the more promising trade ideas on the site later today but until then, here are a few that stand out (all daily time frames). (note: I have NOT scrubbed any of these stocks for earnings. Always a good idea to refrain from opening a new swing trade position just before they report earnings.) JBLU- Currently clinging to the bottom of a steep bearish rising wedge [...]