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 outlook for the airline sector, $XAL, as well as the individual stocks within that index, many of which appear to be offering very objective trade setups with above average gain potential. Note: If you click the settings icon (cog/gear icon), you have the option to increase the playback speed of the video (1.25x, 1.5x or 2x playback speed), effectively shortening the duration of the video.
DAL made an impulsive breakout above the previously posted downtrend line/stop criteria and will be considered stopped out and moved the Completed Trades category along with a few other stopped out trades to be updated asap.
The DAL short is one of several active short trades that actually exceeded the previously posted suggested stop parameter but still looks fine from a technical perspective. In decided how to manage these trades on the site, I figure that I have two options: 1) Consider the trade stopped out and remove it from the active trades list then add it back on as a new trade idea or 2) Just leave the trade as active as suggested stops are just that... a generalized suggestion of where to place a stop(s) based on the charts at the time. For the sake [...]
In going thru the active trades today, I just noticed that I never made any stop suggestions on DAL. Here's an updated 60 minute chart which shows a new support level which has formed since the original post on Jan 29th. We can also see that DAL, although having moved about 5.6% above the entry price (13.72 at the open on Jan 30th), the negative divergences on the MACD & RSI continue to build. I am personally short this one and my plan is to set a stop on any move above today's high (14.73) with a current preferred swing target [...]
I am adding DAL as an active short trade here at 13.68 as what I refer to as a "pullback trade". DAL has become extremely overbought on all time frames out to the weekly charts and as the pattern on this 60 minute chart indicates, will likely come back in to at least the 12.90 area (T1 is 12.92). (edit: as I tried to get this post out before the close and realized that I just missed it, DAL will still be considered an active short entry at the open tomorrow barring any unusually large gap lower (3% or greater).
here's the updated chart (last one) of DAL which hit it's final target on 3/14 for a 16% gain and quickly bounced all the way back to the first target (T1) former support, now resistance area. DAL has since bounced around range-bound between those target levels and could provide another long-side swing entry if it makes a solid break above the T1 area. best to keep an eye on USO or other oil prices when trading the airline stocks. i'll update the USO chart in a bit. note: i will continue to categorize these airline trades as completed, for the recently [...]