An update on XHB (homebuilders ETF) and some of my favorite trade ideas in the sector at this time.
For those wishing to skip ahead to the analysis of a particular stock or ETF, the following trade ideas are discussed in this order: XHB, AOS, LOW, LL, DHI, HD, LEN, LZB, MAS, LII, MHK, WHR, & TPX.
just went long LOW at 26.50 for a potential pre-market over-reaction bounce (see post below regarding covering the short). will set stops (TBD) once the market opens and determine my target once i see how the stock starts trading in the regular session. target is just below T1 (27.50) speculative trade but it seems like an over-reaction to me so far. won't add this on as a trade idea, just looking for a quick pop or stop.
fyi- i just covered my LOW short in pre-market. LOW is nearly a point below the final target after reporting earning and as gives us a nearly 13% gain on the trade, i cancelled my standing buy-to-cover limit order that was just above the target and replaced it with a pre-market order to cover at 26.83 which has filled (and now prices are even lower). the is quite a bit of support below my target level & therefore, even though the stock is trading below my target (support level) i think don't believe the R/R to remain short is worth it. [...]
here's the updated daily chart of the LOW active short trade (first chart is the screen-shot from last monday's trade ideas video). LOW looks poised to go LOW-er to T1 now that the minor support level that i mentioned in the video has been taken out. i may add some additional targets to this trade before it reached T1 but for now, that remains my final target.
i'll try to make some static charts for the trade ideas that i covered in the video posted last night but i can't promise when i'll be able to get them all posted. i'm lobbying my dr.'s office to call in a tamiflu script which will hopefully keep me in the game this week because as i mentioned, i do believe that there is a good chance that those key support levels on the 60 min index charts give way soon, probably this week, which could open the door to a new wave of selling. there were quite a few new [...]
For optimal viewing, choose the "Watch on YouTube" option, then choose the HD quality and Large player settings the bottom right of the video window. MAY 30th UPDATE: PLEASE NOTE THAT SEVERAL OF THE TRADES ASSOCIATED WITH THIS VIDEO HAVE ALREADY BEEN COMPLETED AND ARE NOT LONGER ACTIVE TRADES. THEREFORE, IF YOU CAME HERE VIA CLICKING ON A SYMBOL IN THE ACTIVE TRADES CATEGORY, PLEASE GO TO THE RIGHT OF THE PAGE AND CHOOSE THAT PARTICULAR SYMBOL FROM THE "POSTS BY SYMBOL" DROP-DOWN BOX TO SEE IF ANY UPDATED POSTS HAVE BEEN MADE ON THAT TRADE. I EXPECT TO HAVE THIS [...]