This video covers the charts of some of my favorite trade ideas in the shipping sector. As these trades are extremely aggressive coupled with the fact that I like to take a "shotgun" approach by taking small lots scattered among different shipping stocks within the sector in order to diversify, these are only unofficial trade ideas. Although the key support & resistance levels, as well as entry & exit (target) criteria are discussed for most of these stocks, unofficial trade ideas different from the official trade ideas on the site in several aspects including the fact that these trades may or [...]
DRYS will trigger a long entry on any move above today's high of 2.25. As the 2-day period chart below illustrates, DRYS made a brief intraday breakout above a multi-year downtrend line but has since fallen back to just below that key resistance level. Also note on the weekly chart below that as with the recently posted TOPS setup (another shipping stock), the 60 week EMA has capped all advances on DRYS over the last several years. Aggressive traders could use the next move over 2.25 as a trigger for a long entry while more conservative traders might prefer to see [...]
As mentioned earlier, there are several recently stopped out long-side trade ideas that had not yet been removed from the Active Trades category. Below is a list of those stocks, followed by the reason for their removal from the Active Trades list. These trades, like all trades posted on the site, successful or not, will be moved to the Completed Trades category to be archived for future reference. DRYS; stopped out on 10/31 as per the suggested criteria. INTC; stopped out today as per the suggested criteria. (This includes both the Long Trade Ideas as well as the Long-term Trade Ideas [...]
i've been so focused on trading the short-side that i've neglected the long trade ideas lately. although most of the active long trades are sucking wind along with the market lately, only a couple have been stopped out & will be removed from the active trades category (EXM & EGLE). here are the updated daily charts with notes and suggested stop parameters for the remaining shippers in the active long trades category: DSX, DRYS, & PRGN
several of the shipping stocks have fallen back below their recent breakout levels, which may have triggered some tight stops for more active traders. for those longer-term traders that entered a position on the recent DRYS breakout and planned to give their stops more room to adjust for a higher profits target, i've added what looks to be an important technical level for the stock to hold on any pullback. for tracking purposes, i will considered this trade stopped out on a solid break below this level.
all the recently triggered shipping stocks still look fine today, regardless of the pullback in the group (which isn't a shocker after the moves they had yesterday). PRGN, EGLE, EXM, & DSX are all either back to or still above their recent breakout levels while DRYS is just below but sitting on that lower support line shown on the previous daily charts. as these are very high beta plays, best to give them a little room on the stops otherwise the odds of being stopped out if swing trading them is pretty high. ideal stops for most swing traders who entered [...]
DRYS was another long setup that triggered this morning and unlike DSX (both shipping stocks), DRYS moved considerably above the breakpoint of 2.62 and although it has come in a bit, it remains above that level. actually, DSX has now moved back above the downtrend line as i type and from my experience, the stocks in this sector tend to breakout in close proximity. i have a couple of other shippers that i'm watching that i might add as trade ideas soon but again be warned that these stocks can be very volatile and are prone to sudden and powerful moves [...]