I've received a few comments lately regarding the strength of the Russell 2000 (small caps) so I made this video to share my thoughts on the index. I also covered the charts on the following components of that index in order to get a better feel on where the index itself is likely to go from here. Many of these stocks are either active or recently completed trades on the site so for those who wish to skip forward in the video, here's a list of the charts in the order discussed: $RUT weekly, $RUT daily, $RUT 60 min, WNR, GCO, [...]
CTRN has been on the site as both an active long and a long-term trade idea (for longer-term traders and investors) since february 3rd. it was originally suggested as a long on based on one of two criteria following the breakout highlighted on 2/3: either immediate upside follow-thru in price gains or a re-test of the downtrend line. prices did not move higher after the post but instead met the 2nd criteria, dropping back to make a re-test of the downtrend line. from that level (9.80) the trade went on to hit the third target for exactly a 50% gain, where [...]
the CTRN long gapped up to T3 today and has continue to move higher away from that level, as per the add-on criteria in the previous update. remember, there are multiple way to view the previous notes and charts on the trade ideas posted here. 1) go to the very bottom of the post and click on the ticker symbol in blue. that will bring up all post on that symbol in reverse chronological order. 2) selecting the symbol from the "Posts by Symbol" drop-down box on the right hand sidebar will do the same 3) if you go into a [...]
CTRN is one of the more successful long trades still in play. T3 was recently hit for approximately a 44% gain and since then, the stock has been consolidating just below that resistance level and has formed a bull-flag pattern. coincidentally (or really not), that pattern measures right the the final target zone that i've had on this trade for months. if you are still long CTRN, consider a stop not too far below the bottom of this flag pattern. if you are planning to enter or add to a long on a break of this flag pattern, it would be [...]
i missed the fact that T3 was hit last week but prices are still trading there, providing a opportunity to book the 43.6% profit (from posted entry price) if you took the CTRN long trade. i mention this one a good long-term swing trade/investment opportunity & it is a good example of how counter-trend trades (a long trade and a downtrend) can work out if the technicals are good enough. consider taking some profits and/or raising stops if holding out for T4, which remains the final target for now. also remember that the odds of each additional target above T1 diminishes [...]
CTRN was posted as a long trade idea during the breakout of this pattern on feb 6th. T1 was hit on thursday so although some may have booked profits, the trade still looks good for longer-term traders. volume has continued to be lack-luster since the breakout, however, since that seems to be the prevailing theme in the market lately, here's the set-up for anyone looking for a longer-term swing trade or investment candidate. just consider trailing up stops since the risk of a correction in the broad market remains very high right now.
although i put the odds of a pullback in the market this week at very high, i will continue to post any nice patterns, long or short, as i see them. if, when or how you trade them is completely up to you. here's one that i'm going to keep an eye on for any additional upside, preferably on volume... or possibly to see if CTRN pulls back to re-test the key downtrend line and holds above it, or not too far below. looks like this one may have put in a bottom, assuming the market holds up going forward.