In updating the trade ideas today, the following stocks will be removed from the Active Trades category to the Completed Trades category in order to focus on the most attractive opportunities at this time. Many of these trades have already hit a profit target or remain profitable at this time while a few are slightly underwater at this time. HOV- Although this trade is still profitable and may very well continue lower to hit one or both of its price targets, HOV has been locked in a frustrating trading range ever since the entry earlier this year. In order to focus [...]
This is the first of several video updates covering some of the active trade ideas on the site. The following Active Short Trades, many of which are or will be offering objective new entries or add-ons to an existing position, are discussed in the following order: FB, SOCL, GMCR, GS, GTAT, HLF, HOV. To skip forward to view the discussion on any of these trades, simply click & drag the white circle on the time bar located below the video. Additional updates on some of the remaining trade ideas, both long and short, will follow later today.
As a follow-up to the previous post mentioning some of the short trades still offering objective entries, keep in mind that one should never blindly buy or short a stock without referencing the chart first. When glancing at the charts just before I made that post, I noticed that several of those short trades were sitting right at or just above support, such as a former target that was hit before the stock bounced or in the case of the TZA/IWM trade, IWM was right at the 91.00 support level at which I had expected a bounce as diagrammed on the [...]
The HOV short setup/active trade triggered the second short entry criteria (a break below the 5.85 support level) last week but still offers an objective entry around current levels. T1 remains my preferred target at this time although T2 remains the final swing target for now (and could become the preferred target soon). Previous & updated daily charts:
HOV was covered in the recent $RUT Overview Video as a possible short candidate on a break below this rising channel (daily chart below). I have a decent horizontal support area not too far below current levels around the 5.85 level which is likely to come into play. Therefore, the way I plan to trade HOV would be to short 1/2 position if prices break below the channel around current levels while adding the 2nd half if and when prices break below S1. One possible scenario that I could see playing out would be for prices to find support here at [...]
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, [...]