Tuesday's Game Plan

Longs: ACE, PM, MCD (SAT), ABT (SAT)

Breakouts: TEVA> 51.30, DIS<40.50, EMC>28.50, SWN>40.00, QCOM>58.00, MRO>54.50

Volatility: (EBAY R= 30.77, S= 30.50)

Shorts: NVDA (SAT), BRCM (SAT), MS (SAT), SUN (SAT) , ARUN


Notes:

MS: SAT at 24.50

Technically the SPY is hovering in the middle of no where, no bias at this point as price could easily move in either direction. I will book profits as they come by on momentum.

Longs: MRO, NSC, COH, RTN, TWC (SAT), WLP (SAT), COF (SAT), UAL (SAT)

Breakouts: SWN>44.00, qcom>58.00, XOM>82.50, HOG<36.00, SUN< 39.00

Volatility:ACE, PM

Shorts: JPM

Notes:

NSC: Higher low.

PM: Pay attention this can explode.

TWC: Saturation

Wednesdays Game Plan

Longs: RTN, STI (Sat), UTX (Sat), TRV (Sat), ALTR (Sat), COF (Sat), JNPR (Sat)

Breakouts: WDC<35.50, D>48.50, SUN<39.00, dd<41.20, JNPR< 36.50

Volatility: (ORCL R= 33.40, S= 33.90)

Shorts: STJ, ARUN

Notes:

SMH and QQQ were the weakest yesterday, I have alot of saturation plays along with breakdowns today. The market is very choppy and is trading with almost no bias. I will remain cautious in this environment.

Tuesdays Game Plan

Longs:

WAG, MCD, ABT, ACE, TRV (61.00), WLP, ORCL (33.00)

Breakouts:

RTN>50/00, AKS, VLO<25.50

Volatility:

Shorts: WFC, INTU

Notes:

Crappy market environment, with contradicting signals. This market is bearish to neutral in the short term as all my market internal charts are pointing south. However, we remain in a bulllish market and anything can happen at this level. Shorts can get squeezed really hard and really fast making this market very difficult to trade.

VLO: Shakeout was on below average volume telling me that the stock might not have the fuel to rocket higher yet. If prices retest the 25.50 level, a breakdown is possible.

ACE: Saturation play as the stock has been declineing on descending volume indicating that it might be running out of fuel. It is also approaching support at 67.50.

TRV: Falling on below average volume and is approaching a key level of support. 61.00 is the level to watch.

Mondays Game Plan

Longs: WAG, UAL, ACE, STJ

Breakouts: TJX>53.25, TWC>78.50, ABX<45.00, KO>68.50. AKS<14, VLO<26.00

Shorts: IAG, KLAC, HPQ, SUN, ARUN


Notes:

IAG: (Sat)

TJX: Bounced off of the 50 SMA and previous range. Hourly formed a double bottom and if the 53.25 level is tested that would make it a triple top.

ABX: Pause right at support any breach and hold could accelerate to the downside. Need to observe gold.

HPQ: Gap down and holding with a decending triangle pattern forming.

ACE: (Sat)

STJ: (Sat) Right at support after it was tested. 2 down days with obvious selling in a stock from a strong sector is a saturation play.

Wednesdays Game Plan

Longs: COF, AXP, D, UAL, PM, JNJ, COH, ALTR, HON

Breakouts: ACE>68.75, DIS<40.50, NVDA<17.00, KLAC<41.40

Volatility:

Shorts: SU, HPQ

 Notes:

ALTR (SAT)

HON (SAT@ 50 DMA and trendline)

HPQ has to stay below 37.50

The XLF finally woke up when everything was going down and rallied yesterday. The rally helped lift the S&P from what could have been a down day. The DJIA also looks good after it resisted going below 12,400 which is a pivotal level in the uptrend. Everything else looks mixed here. The Euro pre market is rallying.

Tuesdays Gameplan AM BACK!!!

Longs: WLP, NSC,TJX, HON, ALTR, SBUX

Breakouts: UAL>26.30, SWN<40.50, XOM<79.00, AKS<14.00, VLO<26.00, AXP>50.50

Volatility: (JNJ R=66.80, S=66.20)

Shorts: IAG, ABX, JPM, SU, AKAM, CIEN

Notes:


WLP>80.90

NSC (Sat)

TJX (Sat@54.00)

HON (Sat@60.00)

ALTR (Sat@47.00)

SBUX (Sat@35.00)

XLP, XLV & XLU are the only sectors that are holding their own to the upside. To the downside we have plenty of leading sectors selling off, we have the XLF breaking down followed by the QQQ and the XLK yesterday. We also saw broad selling in commodities with oil selling off along with gold and silver. Investor sentiment is definately bearish at the moment with the SPY back into its 3 month trading range. I will continue to trade with caution with an eye on saturation plays along with breakdowns today.

BLOG Pause

I am sad to inform readers, that I wont be posting due to external commitments. I will surely get back to posting when the pressure eases. In the mean time, good luck with your trading!

15 Fundamentals To Win The Battle | The Kirk Report

15 Fundamentals To Win The Battle The Kirk Report

Friday's Game Plan

SPY: In total balance after yesterdays close, it failed to both breakout or breakdown. It is important to note that the Euro continues to rally while the SPY continues to lag behind. The SPY is also lagging behind both gold and oil which is another sign that sentiment might be shifting in US equities. The levels that I am watching in the SPY are the 134.00-132.70 as resistance and support, these levels are yesterdays high and low.

Sectors: Nothing notable to write about other than the persistant strength of the commodities and retail sectors as other sectors continue to demonstrate directionless indecision.

Longs:  HD, PM, SWN, ABT, HON
Sat Longs: RCL, SUN, TSO, TGT, VLO

Breakouts: TWC>72.50, TRV>60, JDSU<18.50, TXN>35.25, JPM>48.00, DD>56.00
Volatility: (AKAM S=36.90 R=37.50) (CIEN S= 26.10 R= 26.75)

Shorts: BBY, COH

Sat Shorts: NEM

Wednesdays Game Plan

SPY: It wasn't difficult to find the SPY in my ETF list today, it was where it has been for a while which is right in the middle of the list. Yesterday we had another directionless movement and unless we get a catalyst, this market is going no where.

Sectors: Unchanged, except for gold that surged to record highs. I will be looking for continuation today in that sector and in the retail and basic materials sectors as the continue to demonstrate strength.

Longs: TJX, GG, IAG, TSO

Sat Longs: PNC, WLP, JNPR, ARUN, KLAC,UAL

B.O: HD>37.80, DOW>39, JCP>37.50, COST>75.50, PM>66.00, TWC>72.50

Volatility: BK, KO, SWN, CCL, NVDA, JDSU

Shorts: BRCM, JNPR, UAL

Sat Shorts: GG, IAG

Tuesday's Game Plan

SPY: The market traded in an another narrow range day yesterday as it formed an inside day. The levels I am watch are 132.90 & 132.30 as support, as resistance I am watching the 133.80 & 134.50 as resistance.

Sectors: The weakest sector was technology again yesterday which was led by the SMH industry to the downside. Oil and basic materials along with the healthcare sector were the strongest.

Longs: ABT, TSO, UNH, ORCL, WLP

Saturation Longs: BBY, EMC, JNPR, HPQ, NVDA

Breakouts: ADSK>44.50, HD>37.80, RCL<40.50, CCL<38.00, TWC>72.50

Volatility: AKAM, BK, DD, GG, PNC, PCAR, TRV, STT

Saturation Shorts: KO, ACE

Mondays Game Plan

SPY: Another directionless day in the SPY in the previous session while it also slowly creeps to the upside. The rally that commenced on the 16th is by no means strong as volume has been below average and every move was initiated through a gap. The levels I am watching at the 133.50 & 134.50 to act as resistance and 133.00 and 132.50 to act as support.

Sectors: Lately there has been a notable divergence in the market internal ETF's with the DIA,IWM and EEM being stronger then the SPY and much stroger then the lagging QQQ the NASDAQ ETF. This tells me that all is not well in the market and that this rally should be treated with extreme caution unless the QQQ catches up with the rest of the group, its lagging action will hold this market down.

Longs: WDC, ORCL, WLP, ABT, PCAR

Saturation Longs: KGC, BRCM

Breakouts: INTU>54.50, HD>37.90, TWC>72.50, ADSK>44.40, RCL<40.50

Volatility: UNH, VLO, XOM. TJX

Shorts: LEN, BRCM, JDSU

Saturation Shorts: HIG, WAG, INTU, COST

Friday's Game Plan

SPY: Inside day in the SPY, not much to write about there. The levels to watch are the same from yesterday.

Sectors: Unchanged from the day before, nothing is demonstrating clear order flow at the moment. The stock market is very stock specific.

Longs: INTU, UNH

Sat Long: LEN, AXP, LOW, AKS

Breakouts:ADSK>44.50, ORCL>34.00, BBY< 28.50

Volatility: PM, STT, HPQ, CCL

Sat Shorts: COST, BK, INTU

Thursday's Game Plan

SPY: Gap up yesterday that held intraday, the levels I am watching are yesterdays high and low. Next I am looking at 132.00 as support and 133.50 as resistance. The DOW seems to be the strongest at the moment when compared to NASDAQ and the S&P 500.

Sectors: Retail, gold and the small cap stocks seem to be the strongest at the moment as demonstrated by the IWM.

Longs: UNH

Sat Longs: LEN

Breakouts: COF>53.00, EMC>27.50

ID: BBY

Shorts: -

Sat Shorts: JNPR, ANF,TSO, UNH, RCL, TWC

Wednesdays Game Plan

SPY: The day before yesterday was a day in the middle of no where and yesterday we had a day inside the day before reflecting the current indecision in the markets. The volume yesterday was way below average. We also saw a sell off on the finaly hour of the day where price almost tested the day befores low. Short term key levels in the SPY are 131.00 and 132.00. Overnight at the time of this writing, markets in Europe are choppy and currencies havent move much either. We have the consumer confidence report at 6:00 p.m GMT+4 today which might move the markets.

Sectors: Pretty mixed up, nothing demonstrated any clear order flow yesterday.

Longs: AXP, HON

Saturation Longs: IAG

Volatility: BBY, TSO

Breakout: TGT<49.50, CCL<38.10, RCL<40.50

Short: CHK, EBAY

Saturation Shorts: DANG

Testament

While trading the FX markets for the past 3 years I discovered several things about myself. First, that my trading niche was in equities, the US equities to be more specific. The FX market might be the biggest market out there but it doesn't have to be your arena. Being exposed to different markets reveals your niche. Not all markets are the same, FX has its own personality when compared to either futures or equities. It is critical that you identify what works for you in order to survive in trading.




Second, I discovered that like many members here that trading had enhanced my character in ways that wouldn't have been possible if I weren’t exposed to the markets. The markets taught me to take responsibility for my actions; it also transformed my mindset which automatically changed my character. I am no where near the person I was 3 years ago, the mindset transformation alone was worth the journey.



Third, market preparation is everything in trading. With market preparation came conviction which made entries, exits and re-entries seem effortless. Preparation has also removed all the anxiety and discretion from my trading. Having a solid plan is critical to long term survival and having a game plan for the day is critical for long term survival. I have come to learn through experience that the bigger the trader the more time he spent planning. I have a 14 page trading plan and I still feel it lacks a lot of the elements that would make it complete which brings me to my fourth point.



Fourth, trading taught me that one never stops learning and improving in the markets and in life. The moment one becomes closed minded and refuses to learn is the moment they stop developing. I have learnt that the markets never remain the same, if you fail to catch up, you will be left behind.



I could go on and on about how trading changed me, at the end all I can say is that I love trading which is a field that has given me so much to the extent that I am not it just for the money anymore.

Mondays Game Plan

SPY: Currently in no mans land, right in the middle of no where. Price on Friday closed in the middle of the previous range that it broke out from on a doji candle that reflected indecision. Main S/R levels to watch would be Friday's high and low of 131.87-130.89, should price breach any of these two levels we could see a momentum move. Assessing premarket developments prior to the open will be key in assessing the day ahead as the picture isn't clear at the moment.

Sectors: Like the SPY most sectors are all over the place, the only sector reflecting something is the energy sector with the XLE on the verge of making a 20 day breakout. Gold is currently giving mixed signals along with the financial and tech sector which makes this market a hard read.

Longs: WDC, SUN, AXP

Saturation Longs: IAG

Breakouts: VLO> 30.50, TSO>27.00, WLP>69.50, DPS>38.25, CCL(ID), ADSK(ID), EMC>27.50, COF>53.00

Shorts: WAG

Saturation Shorts: ALTR, COF

Friday's Game Plan

SPY:The SPY held and closed above the 129.50 - 130.00 zone and held up, this confirms that the ETF is back into the range it broke out of on the 15th. My bias is bullish as long as we hold above. A choppy environment is to be expect though.

Sectors: The strongest sector yesterday was technology with the SMH being the strongest ETF in my watchlist followed by the QQQ's which is the NASDAQ ETf. The Weakest sectors yesterday were commodities with oil, gold and silver all taking a hit, my saturation shorts on gold stocks worked out nicely yesterday but unfortunately I didn't take them as they occured during lunch. A period that I don't usually trade.  The financial sector ETF, the XLF formed another bullish U-Turn candle pattern yesterday which makes it two in a row and also forms a higher low. These are both bullish signs that could play out today if price goes above 16.35.

Longs: EBAY,PM,IAG

Saturation Longs CCL

Breakouts: ADSK>44.50, WDC>36.50, TJX>51.00,CHK(ID)

Saturation Shorts: JDSU, CIEN, SBUX,COP - (These saturation plays will depend on wether RIMM's earnungs affect the technology sector, If I get a higher opening I might consider shorts)

Thursday's Game Plan

SPY: Prices gapped lower then rallied during yesterdays session taking out and holding above the pivotal 125.50 level. The next major level ot watch will be the 130 level and whether the SPY holds above it or fails below it. volume on the previous days has been below average signaling indecision. My bias on this market is neutral as it could easily go either way. I plan to book profits when I come across them as continuation in minimal under such circumstances.

Sectors: The strongest sectors yesterday was the commodities sector which was led by the gold and silver industry. SMH was also strong yesterday, this suggests that some of the tech stocks at this point might be oversold which could prove to be good saturation plays. The financial sector also caught my attention yesterday as they rallied in the afternoon session after selling off in the morning to close positive for the day, if buying continues in financials today then we could have an up day in the SPY today.

Longs: SLW, SBUX, IAG,GG,ALTR,SUN

Saturation longs: JDSU,CIEN,TGT,CCL,UAL

Breakouts: CDE>35.50, VLO>29.00,RCL<40.50

Shorts:

Saturation shorts: SLW,GG,KO,SWN,HPQ,PM