I'm noticing quite a few bullish trade setups developing in the left-for-dead coal stocks. This video covers the charts of some of my favorites, along with general entry levels (buy triggers) and price targets. As discussed in the video, many of these coal stock are just coming off very strong runs, most into key resistance levels & as such, there is still some work to be done in order to firm up the bullish case for these stocks. While the coal stocks are extremely volatile, aggressive trades, the trade setups highlighted in this video offer very attractive R/R profiles. Note: The [...]
IWM 120 min Oct 20th I left town for the weekend on Friday & just returned last night and plan to post some updated market commentary as soon as I review the charts. I received several email questions & comments since Friday, along with a couple of donations as well a testimonial (thank you), all of which I plan to reply to as soon as I get my bearings. In looking at the 120-minute chart of the IWM that was posted before I left town, I noticed that the first suggested stop for the IWM short trade was incorrectly [...]
Today I plan to update all of the trade ideas on the site in order to remove any stopped out trades or those trade that no longer offer look compelling to make room for some new trade setups which I plan to add over the weekend & into next week. As I still remain longer-term bullish on precious metals & the mining sector, GLD/$GOLD, SLV/$SILVER and all of the individual mining stock trade ideas will remain as Active Long-Term Trade ideas for now but we be remove from the Active Longs category (Active Long Trades are typical swing trade idea) in [...]
BTU 15 min Sept 29th BTU (Peabody Energy) will be added as an Active Long Trade here around the 12.00 level. Multiple overhead resistance levels, all of which are potential targets on this trade, are listed on this 15 minute chart. As with the WLT coal stock trade, this should be considered a very aggressive, counter-trend Although this is a short-term, oversold bounce trade based off the 15 minute time frame, BTU has the potential to morph into a longer-term bottom swing or trend trade. Recent volume pattern look capitulatory although we still need to see some decent evidence [...]
The following long trades will be removed from the Active Trades category into the Completed Trades where they will be archived for future reference. Many of these trades already hit one or more profit target while others fell short of the first target before exceeding their suggested stop level or any reasonable stop, if none suggested. ANR: Hit the second target back on Nov 18th and moved slightly higher before reversing and falling back below both T2 & T1, thereby exceeding any reasonable stop. NRP: Hit the first target back on Oct 29th and then moved well below the entry price, [...]
This video covers all 8 of the coal stocks in the Active Long Trades category as well as the Dow Jones US Coal Index ($DJUSCL). Following the discussion of the $DJUSCL, the coal stock trades are covered in the following order: ANR, BTU, CLD, CLF, KOL, NRP, RNO & WLT (for those wishing to skip forward to a particular trade).
As a correction to the previous post stating that BTU triggered a long entry today; BTU actually broke above R1 and closed above that resistance level (now support) last Tuesday, the day after the setup was posted. Since taking out R1 early last week, the stock has successfully tested that level every day (bullish price action) and is starting to move higher today. This updated static chart is a 1-year, daily chart while the live chart (click here to view) shows the original 3-year daily chart which covers the span of the important downtrend line).