Revisiting my 2013 Twitter question

In November 2013 I asked “Should we short Twitter?” The company was then valued at $ 18 billion.

Today the market cap is $ 12 billion (chart) and the Wall Street Journal is writing about desperate management changes (article).

At first glance it would seem that questioning Twitter’s value was a good investment idea. However, the price roughly doubled after I asked the question so a short investor would have needed capital, patience, and nerves to hang for more than two years.

Readers: What could Twitter do to earn more revenue and profit?

Philip Greenspun’s Weblog

Reflections Looking Back at 2013 & Forward to 2014

In today’s video, I share my new year reflections as we enter a new year of trading and life.

Topics covered include current trading rhythms, Expo thoughts, reflections and feedback to the book, platform updates, and seeking ideas for further trader innovations for the new year.

Links referenced in the video include the 2007-09 diary blog, our Trading After Dark efforts, FuturePath Trading (Photon platform), World Vision, and live Jellie training effort.

Please email any trader enhancement suggestions or interest in a 1st Quarter live Jellie training effort to me at don@donmillereducation.com.

Don Miller’s S&P Trading Tank

STTG Q4 2013 Reader Survey

With the 4th Quarter of 2013 now behind us, it is time to take a break from our daily market recaps to conduct our next StockTradingToGo (STTG) Reader Satisfaction Survey.

For newer readers, our quarterly surveys are only three questions and it is extremely important to participate.

Your feedback ensures we continue to deliver the best possible commentary and analysis each evening, so please help us keep our free blog great and take the survey now,

Thank you in advance for sharing your opinion. Market Recaps will resume tomorrow (Thursday).

Original post: STTG Q4 2013 Reader Survey


Stock Trading To Go

Top Trade Ideas for the Week of December 30, 2013: Bonus Idea

Written By: DragonFly Capital

Here is your Bonus Idea with links to the full Top Ten:

PNC Financial Services, Ticker: $ PNC
pnc tv

PNC Financial Services, $ PNC, built a Cup and Handle pattern since August and us now triggering the most conservative level. It carries a target of 85.37. The Relative Strength Index (RSI) is bullish and rising with the MACD rising and crossed higher, both supporting more upside. The longer term picture sees it continuing on to 95 on a Measured Move.

Trade Idea 1: Buy the stock here (over 78) with a stop at 76.50.

Trade Idea 2: Buy the January 44.75 Calls (offered at $ 1.60 late Friday) and use the stops and triggers on the stock price as a guide.

Trade Idea 3: Buy the May 77.5 Calls ($ 3.45) as a longer term play.

Trade Idea 4: Buy the May 77.5/85 Call Spread ($ 2.69).

Trade Idea 5: Buy the May 77.5/85 Call Spread and sell the May 70 Put ($ 1.53).

Trade Idea 6: Buy the February 77.50/January 80 Call Diagonal ($ 1.76) and sell the February 72.5 Put (51 cents).

Premium Content
The Best

The Rest Premium

Free Content
The Rest

If you like what you see sign up for more ideas and deeper analysis using the Get Premium button above. As always you can see details of individual charts and more on my StockTwits feed and on chartly.

After reviewing over 1,000 charts, I have found some good setups for the week. This week’s list contains the first five below to get you started early.

The post Top Trade Ideas for the Week of December 30, 2013: Bonus Idea appeared first on Dragonfly Capital.

Dragonfly Capital

Top Trade Ideas for the Week of December 30, 2013: The Rest

Written By: DragonFly Capital

Here are the Rest of the Top 10:

ASML Holdings, Ticker: $ ASML
asml

ASML Holdings, $ ASML, moved back to resistance at the ‘W’ Friday before pulling back. The Relative Strength Index (RSI) is rising and bullish and the MACD is rising and crossed up. Look for a break higher to try it long.

DexCom, Ticker: $ DXCM
dxcm

DexCom, $ DXCM, is attempting to move higher out of a bull flag after consolidating the last move for a month. The RSI is bullish and rising and the MACD is turning up, both supporting the upside.

Hess, Ticker: $ HES
hes

Hess, $ HES, has been moving higher off of a the 100 day Simple Moving Average (SMA) and through consolidation at the 50 day SMA. It is nearing the Measured Move at 84 but with a rising and bullish RSI and a MACD that is rising.

Textron, Ticker: $ TXT
txt

Textron, $ TXT, spiked higher a week ago Friday, oddly 3 trading days before announcing an acquisition. Since then it is consolidating in a symmetrical triangle and has worked off the overbought RSI. Look for a break of the triangle to enter.

United Health Group, Ticker: $ UNH
unh

United Health Group, $ UNH, is pressing against quadruple top resistance at 75. This is also the neckline of an Inverse Head and Shoulders pattern. The RSI is bullish and the MACD is rising, supporting a break higher.

Up Next: Bonus Idea

The Best

If you like what you see sign up for more ideas and deeper analysis on these using the Get Premium button above. As always you can see details of individual charts and more on my StockTwits feed and on chartly.

After reviewing over 1,000 charts, I have found some good setups for the week. These were selected and should be viewed in the context of the broad Market Macro picture reviewed Friday which, as the year closes, sees the markets ready for a rest after a strong showing all year. Look for Gold to consolidate or continue in the trend lower while Crude Oil continues to the upside. The US Dollar Index looks to continue in the consolidation with an upward bias while US Treasuries may be ready for the big one to the downside. The Shanghai Composite and Emerging Markets remain biased to the downside with consolidation a possibility for the Chinese market. Volatility looks to remain very low keeping the bias higher for the equity index ETF’s SPY, IWM and QQQ, despite the VIX being biased higher. The individual charts of the equity indexes show the SPY looking strongest with the IWM and QQQ starting what could be pullbacks and over extended. Use this information as you prepare for the coming week and trad’em well.

Want to learn more about Dragonfly Capital Views?

Dragonfly Capital Views Performance Through December 2013 Expiry and sign up here for the free 7 day trial before you pay.

The post Top Trade Ideas for the Week of December 30, 2013: The Rest appeared first on Dragonfly Capital.

Dragonfly Capital

STTG Market Recap December 18, 2013

Surprise, surprise.  Ben Bernanke had one last trick up his sleeve as he exits state right and that was to do the opposite of what happened in September.  Back at that Federal Reserve meeting all the smoke signals had indicated the Fed would reduce its quantitative easing program to a small degree – but they did not.  Today, the majority expected no action and instead we got the small reduction.  After a knee jerk reaction downward the market made a stupendous move the following 2 hours, posting a rare bullish engulfing pattern on the S&P 500; not just of the previous day but of the previous few weeks. The S&P 500 gained 1.66 and the NASDAQ 1.15%; all of that plus more in the final 2 hours as the indexes were negative pre Fed.  That said today’s action by the Fed was perceived by many to be dovish because while they reduced QE by $ 10B per month they put in more dovish language in terms of interest rates:

The central bank said it would reduce its monthly asset purchases by $ 10 billion to $ 75 billion, while it also indicated that its key interest rate would stay at rock bottom even longer than previously promised. It said it “likely will be appropriate” to keep overnight rates near zero “well past the time” that the U.S. jobless rate falls below 6.5 percent.  Regardless of the Fed’s decision, “the overriding theme is that rates are going to stay low for several more years,” said Dan Greenhaus, chief global strategist at BTIG LLC,.

Both indexes staged an engulfing pattern where the previous day’s low was breached along with the previous day’s highs, but it was even more extreme than that as the NASDAQ engulfed a week and S&P 500 two weeks….all in 2 hours.

spx nasdaq

Breadth had been lacking the past month but as you can see today’s session was the best in that regard since mid October.

nyad

Finally the NYSE McClellan Oscillator is back in the green; hopefully for bulls it stays that way for a while.

nymo

As for volatility we saw the exact opposite situation; after hitting a 2 month high we have a bearish engulfing candle today.

vix

Financials were a key tell they reversed hard mid afternoon to the upside – keeping this as a leadership group would be a positive.   This was another massive bullish engulfing session which engulfed 2 prior weeks.

xlf

Housing was also another strong sector as shares of Lennar Corp jumped after the No. 3 U.S. homebuilder reported a 32 percent jump in fourth-quarter profit. Data on Wednesday showed that U.S. housing starts surged to the highest in nearly six years in November, a sign of strength in the housing market.

len

 

Original post: STTG Market Recap December 18, 2013


Stock Trading To Go

STTG Market Recap December 17, 2013

Stocks had another quiet session ahead of the Fed announcement tomorrow as it was sort of the opposite of yesterday; today the indexes gapped down at the open and spent the rest of the session in a relatively narrow range.   The S&P 500 fell 0.31% and the NASDAQ 0.14%.

The Labor Department said  its Consumer Price Index was restrained last month by declines in gasoline and natural gas prices, after slipping 0.1 percent in October.In the 12 months through November, the CPI rose 1.2 percent. It had increased 1.0 percent in October, the smallest advance since October 2009.

The indexes remain in ok shape but not as gung ho as they were about a month ago; there is a case to be made either way here for the next move in the market.   Here are the longer term charts, and why the NASDAQ is currently the easier read; aside from about 10-12 sessions the entire year it has remained in this nearly perfect channel.  So if it gets to the bottom of said channel in any future correction, odds are it will be a good place to buy.

spx

spx

 

The volatility index spiked to the highest level since mid October as Fed days where some proportion of the population believe the Fed will act usually leads to a lot of gyrations.

vix

Let’s look at some individual charts via Marketsmith:

Facebook climbed after the Wall Street Journal cited unidentified people familiar with the matter in reporting the social-networking site would run its first video advertisements on Thursday.  For those who are IBD type investors we might be seeing a cup formed on a “cup and handle” formation; i.e. if the stock stalls here and has a multi week consolidation/correction (the handle), we might see a very nice move out of that sometime in February or March.  We’ll see.

fb

Gentex (GNTX) is a lowly auto supplier stock, but like the airlines this group has had a surprisingly good 2013.  You can see a recent breakout here the past few days as it cleared October 2013 highs.

gntx

Looking at the day’s big movers you can often find new ideas – today we have Zulily (ZU).   What the heck is a Zulily you ask?  A recent IPO of a company that offers flash shopping (deep discounts for limited times) catering to moms.   There is an interesting background on this company via IBD; amazing it started business in 2010 and now is valued by the market at $ 5B.  It is growing like gangbusters but this is the type of action that has people whispering we are in a new bubble.

zu

Tesla Motors (TSLA) has been the stock of the year in 2013; as we close out the year it is in an interesting pattern, a potential “inverse head and shoulders”.   In this type of pattern if the stock clears a neckline it often will rally by a substantial amount.  One could argue the neckline for this name was in the mid $ 140s so if it holds that area in the coming days and weeks it might have a good amount of room to run in early 2014.

tsla

Original post: STTG Market Recap December 17, 2013


Stock Trading To Go

Top Trade Ideas for the Week of December 16, 2013: The Rest

Written By: DragonFly Capital

Here are the Rest of the Top 10:

AstraZeneca, Ticker: $ AZN
azn

AstraZeneca, $ AZN, has been consolidating between 56 and 58 for 2 weeks. The Relative Strength Index (RSI) has worked off an overbought condition and remains bullish with a MACD that has pulled back but is leveling. A move over 58 carries a Measured Move higher to 62.

CME Group, Ticker: $ CME
cme

CME Group, $ CME, pulled up out of a shallow cup in November to the target of 84 before pulling back. Now it has been consolidating with the Bollinger bands rising and has made a higher low. The RSI held bullish on the pullback and the MACD is turning back higher.

Cemex, Ticker: $ CX
cx'

Cemex, $ CX, had a long pullback from the August Double Top to support at 9.80. Since then it has run higher in two steps, and is consolidating the latest one in a bull flag. The RSI is bullish and the MACD is rising into support more upside. Short interest at 8% could help it higher.

Donaldson, Ticker: $ DCI
dci

Donaldson, $ DCI, had been in a slow trend higher before accelerating in September. Consolidating the last move in a bull flag it has support for more upside from a bullish RSI holding near 70 but with a MACD that is possibly rolling lower. The 50 day SMA has acted as support recently.

Himax Technologies, Ticker: $ HIMX
himx

Himax Technologies, $ HIMX, is consolidating under resistance at 11.50 after a shallow pullback. The RSI is bullish and the MACD is rising, both supporting more upside price action. Short interest at 8% could help it higher.

Up Next: Bonus Idea

The Best

If you like what you see sign up for more ideas and deeper analysis using the Get Premium button above. As always you can see details of individual charts and more on my StockTwits feed and on chartly.

After reviewing over 1,000 charts, I have found some good setups for the week. These were selected and should be viewed in the context of the broad Market Macro picture reviewed Friday which, heading into the last full week before the Holidays, sees the markets looking tired and extended and better lower. Look for Gold to continue lower while Crude Oil turns the bias to lower in the short term. The US Dollar Index is trending lower but may be ready for a bounce while US Treasuries are biased lower. The Shanghai Composite is consolidating in the upward move and Emerging Markets are biased to continue to the downside. Volatility looks to remain subdued but with an upward bias keeping the bias higher for the equity index ETF’s SPY, IWM and QQQ. Their charts suggest that there may be more downside for the QQQ and SPY, which are both at support, while the IWM creeps along trend support higher in what could still be a bear flag. Use this information as you prepare for the coming week and trad’em well.

Want to learn more about Dragonfly Capital Views?

Dragonfly Capital Views Performance Through November 2013 Expiry and sign up here for the free 7 day trial before you pay.

The post Top Trade Ideas for the Week of December 16, 2013: The Rest appeared first on Dragonfly Capital.

Dragonfly Capital

STTG Market Recap November 26, 2013

A late day selloff knocked the S&P 500 back to near break even but after lagging for a few weeks money has rotated back into tech stocks and small caps.  This is a hallmark sign of a major bull market – constant rotation.  The S&P 500 gained 0.01% and the NASDAQ 0.58%; for those who like round numbers the NASDAQ broke back over 4000 for the first time in 13 years.   A good report on building permits – at a 5 year high – helped lift the housing sector out of recent doldrums.   The Commerce Department said building permits jumped 6.2 percent to a seasonally adjusted annual rate of 1.03 million units. That was the highest rate since June 2008. Economists had expected building permits at a 930,000-unit rate in October.  Permits increased 5.2 percent in September.  August’s permits were revised to a 926,000-unit pace from the previously reported 918,000 units. Permits lead housing starts by at least a month.

No new comments about the indexes – they remain in bullish posture.

spx

nasdaq

We will look at individual stocks today using Marketsmith charts. Housing stocks might be turning a corner here after lagging since May when Bernanke hinted there might be some form of taper later in 2013.  Of course that never came true.

len

ph,

Tiffany’s (TIF) gained after the luxury-jewelry retailer hiked its profit outlook for the year, and posted better-than-expected quarterly income.  Luxury retailers might be in the sweet spot as most stock in the country is concentrated at the upper end and with a 5 year bull market, topped off by this year’s big gains it can only help.   The company reported a 27% sales rise in the Asia-Pacific region, though revenues were down in Japan because of the weak yen. Same-store sales across all regions were up 7%.

tif

Coach (COH) was lifted by Tiffany’s tide.

coh

In tech the old standard leaders looked good today – Apple (AAPL) which has been range bound, might have started a breakout… and Google (GOOG) which had gapped up strongly on earnings a few weeks ago took another leg up.

aapl

goog

Original post: STTG Market Recap November 26, 2013


Stock Trading To Go

SPY Trends and Influencers October 19, 2013

Written By: DragonFly Capital

A weekly excerpt from the Macro Review analysis sent to subscribers on 10 markets and two timeframes.

Last week’s review of the macro market indicators suggested, moving into the October Options Expiration week, to look for Gold ($ GLD) and Crude Oil ($ USO) to continue to move lower. The US Dollar Index ($ UUP) looked to continue higher in the down trend while US Treasuries ($ TLT) consolidated but were biased lower. The Shanghai Composite ($ SSEC) and Emerging Markets ($ EEM) were both biased to the upside in the short term. Volatility ($ VIX) looked to remain low and falling again keeping the bias higher for the equity index ETF’s $ SPY, $ IWM and $ QQQ. Their charts also looked higher with the IWM and QQQ near their highs but the SPY needing a little more to get there.

The week played out with Gold finding support before a bounce higher while Crude Oil continued the drift lower. The US Dollar made a lower low to end the week lower while Treasuries made a higher high. The Shanghai Composite and Emerging Markets continued higher but with the Chinese market topping and ending the week on a down note. Volatility made a strong move lower, continuing last weeks fall. The Equity Index ETF’s reacted with the SPY and IWM making new all-time highs and the QQQ new 13 year highs. What does this mean for the coming week? Lets look at some charts.

As always you can see details of individual charts and more on my StockTwits feed and on chartly.)

SPY Daily, $ SPY
spy d
SPY Weekly, $ SPY
spy w

The SPY started the week by completing a Three Advancing White Soldiers pattern followed by a Harami, an indecision candle and often bringing a reversal, only to continue higher ending the week at new all-time highs. The 3 white candles to end the week are not as bullish as the ones that started it as it ended with an Evening Star, another potential reversal candle. The RSI continues to support the bullish case with a move higher in bullish territory over 60 and the MACD continues to rise, also supporting more upside price action. On the weekly chart the Marubozu continues the bounce off of the trend support and bodes for more upside action to come as well and a possible 3 Advance White Soldiers on this time frame. The RSI is rising and bullish and the MACD about to cross up on this timeframe, supporting the bull case. There is support at 173.60 and 170.90 followed by the area from 168.85-169.35. There is no resistance higher but the Measured Move takes it to 175.08. Continued Upward Price Action, Minding the Evening Star.

Heading into the next week, the markets are behaving strongly but showed the first sign of being extended Friday. Look for Gold to continue to bounce in the downtrend while Crude Oil continues lower. The US Dollar Index is set up to continue lower while US Treasuries are poised to show if they really want to reverse higher at resistance. The Shanghai Composite looks to continue lower in the uptrend while Emerging Markets move higher. Volatility looks to remain low and possibly continue lower keeping the wind at the backs of the US Equity markets. The SPY, IWM and QQQ are all looking very strong on the intermediate timeframe but with Evening Stars to end the week may need to close the gaps lower before continuing to advance. Use this information as you prepare for the coming week and trad’em well.

Join the Premium Users and you can view the Full Version with 20 detailed charts and analysis: Macro Week in Review/Preview October 19, 2013

____________________________________________________________________________________________________

Want to learn more about Dragonfly Capital Views?
Dragonfly Capital Views Performance Through September 2013 Expiry and sign up here

The post SPY Trends and Influencers October 19, 2013 appeared first on Dragonfly Capital.

Dragonfly Capital

STTG Market Recap October 16, 2013

As the framework of a deal in D.C. comes to fruition at the last minute (try to act surprised), the S&P 500 and NASADQ had bountiful sessions with gains of 1.38% and 1.20% respectively.  As we have been mentioning, if last Wednesday was a bottom, if the recent pattern of rallies continues we’ll see a move of 12-14 sessions of nearly vertical move up.  It is not supposed to work like that but Quantitative Easing markets tend to be violent to the upside in the initial bounce. Yesterday was a bit of a curveball but that was due to some stalling in negotiations – today would be session 5 of the current rally.  Tomorrow will be a good test because after the bell IBM – which is very heavily weighted in the Dow Jones Industrial Average – reported some disappointing numbers and we will see how quickly dip buyers show up if there is even a dip.

On the economic front, homebuilder sentiment slipped to 55 in October, touching the lowest level since June, according to the NAHB/Wells Fargo Housing Market Index, amid worries over Washington and higher labor costs. Economists polled by Reuters had predicted the index would remain flat at 58.

Both the S&P 500 and NASDAQ are now back in breakout mode which is bullish.  The S&P 500 is on day 4 of a breakout…

spx

NASDAQ is on day 3 of a breakout above this descending channel (blue line)

nasdaq

Transport stocks are likewise breaking out – something bulls like.  Day 4 here.

tran

The volatility index – which we mentioned was breaking out last week (bearish), reversed and today imploded as uncertainty on the debt deal moves away.

vix

Financials had been a laggard during this correction but this sector is acting quite well the past few sessions.

xlf

We also mentioned energy had been showing a lot of relative strength along with health care – these are already above highs earlier in the year.

xle

xlv

Have to mention one of the four horsemen as these have been leaders of the market – here is Facebook (FB) with a stellar session.

fb

Now to IBM which is down to the mid $ 170s range in after hours.  The stock has been weak for a long time and reported a revenue miss of $ 1B after the bell.

IBM, the world’s largest technology services company, reported third-quarter earnings that beat Wall Street estimates, but it missed revenue expectations due to a decline in its hardware business and in emerging markets. International Business Machines Corp said on Wednesday its quarterly net income rose 6 percent to $ 4.0 billion, or $ 3.99 a share on a non-GAAP basis from $ 3.62 a year earlier, above estimates of $ 3.96 a share, according to Thomson Reuters. Revenue dropped 4 percent to $ 23.7 billion below Wall Street analysts’ expectations of $ 24.74 billion mainly due to a decline in its hardware division.

Here is the daily chart…

ibm

…and you can see how it acted negatively immediately via this intraday chart from Thinkorswim by TDAmeritrade.

intraday

 

Original post: STTG Market Recap October 16, 2013


Stock Trading To Go

STTG Market Recap October 9, 2013

Wednesday was a quiet session as stocks initially opened up higher on the announcement that Janet Yellen would be the next Federal Reserve head, but quickly sold off in the morning.  From there stocks move near flatline before pushing back and forth around the unchanged level most of the rest of the session.  Momentum stocks continued to face pressure as those who were buying, went into safety sectors such as utilities.  The S&P 500 gained 0.06% while the NASDAQ fell 0.46%; this continues the pattern this week of the NASDAQ “catching up” to the S&P 500.   Outside of the Yellen news, the major item of the day were the minutes from the last Federal Reserve meeting:

Federal Reserve members engaged in heated debate in September before ultimately deciding not to ease back on their monthly bond-buying program, according to the minutes from the latest Fed meeting. The sheer 12-page length of the document reflected a depth of discussion that focused on whether the economy was strong enough to wind down the buying, as well as whether the Fed was being as clear as it should be with its policy statements. “All members but one judged that it would be appropriate for the Committee to await more evidence that progress would be sustained before adjusting the pace of asset purchases,” the minutes said.  The decision to begin pulling back on the $ 85 billion a month in purchases of Treasurys and mortgage-backed securities was “a relatively close call” for “several members” who were concerned that financial markets had come to expect an unwinding, or tapering.

 

We’ll look at the indexes on a longer time frame today to show why this current drop, especially in the S&P 500, could cause some intermediate term issues.  There is a trendline connecting the lows of 2013, and that was violated yesterday.  Obviously getting back above that would be step one for the bulls.   This is now the third moderate correction of the back half of the year as the S&P 500 at its lows today was down about 5% from peak.

spx

The NASDAQ is a bit choppier long term chart as Apple is such an influence on the index.

nasdaq

Speaking of, Apple is actually holding in relatively well during this correction.

aapl

One alternative as the U.S. politicians dance around ahead of the October 16-17th time frame are emerging markets which have held up pretty well during this U.S. selloff.

eem

When markets are selling off like this it is difficult to focus much on individual equities, since most seem to move together but here are 2 widely followed names that were in the news today:

Hewlett-Packard spiked higher following comments from CEO Meg Whitman at an analyst meeting that revenue would stabilize in the fiscal year 2014 and accelerate in 2015. Additionally, the company is expected to report earnings guidance that exceed current Wall Street expectations, according to presentation slides from the company’s meeting.

hpq

Yum Brands tumbled after the parent company of KFC and Pizza Hut missed forecasts and said it expects full-year earnings declining at a high-single digit to a low double-digit rate.

yum

Original post: STTG Market Recap October 9, 2013


Stock Trading To Go

Top Trade Ideas for the Week of October 7, 2013: Bonus Idea

Written By: DragonFly Capital

Here is your Bonus Idea with links to the full Top Ten:

Con-Way, Ticker: $ CNW
cnw tv

Con-Way, $ CNW, completed a loose Cup and Handle pattern in early August and has been pulling back since in a channel. Friday it poked above that channel. It has a Relative Strength Index (RSI) that is rising and in bullish territory and a MACD that is positive and crossed up. These support a move higher. The Measured Move out of the channel takes it to 47.60 and then there is another Measured Move to 48.50 above that. Resistance is found at 44.30 and 44.80 before 46. Support lower comes at 42 and 41.50 followed by 40.90 and 39.80.

Trade Idea 1: Buy the stock on a move over 44.30 with a stop at 43.30.

Trade Idea 2: Buy the November 42.5 Calls (offered at $ 3.30 late Friday).

Trade Idea 3: Buy the November 45/47.50 Call Spread ($ 1.10).

Trade Idea 4: Sell the November 40 Puts (80 cent credit).

Trade Idea 5: Buy the November 45/47.50 Call Spread and sell the November 40 Puts (30 cents).

Premium Content
The Best

The Rest Premium

Free Content
The Rest

If you like what you see sign up for more ideas and deeper analysis using the Get Premium button above. As always you can see details of individual charts and more on my StockTwits feed and on chartly.

After reviewing over 1,000 charts, I have found some good setups for the week. These were selected and should be viewed in the context of the broad Market Macro picture reviewed Saturday which, as the 4th Quarter and earnings season begin provides no additional clarity in the equity markets. Look for Gold to continue lower while Crude Oil rises in the short pullback. The US Dollar Index looks to continue lower while US Treasuries consolidate with a downward short term bias. The Shanghai Composite is poised to move lower and Emerging Markets are biased to the upside now. Volatility looks to remain low but drift higher although still in an area that is beneficial for the equity index ETF’s SPY, IWM and QQQ. There charts show that the QQQ and IWM remain strong and consolidating in bull flags or channels, while the pullback in the SPY may be over. Use this information as you prepare for the coming week and trad’em well.

Want to learn more about Dragonfly Capital Views?
Dragonfly Capital Views Performance Through September 2013 Expiry and sign up here

The post Top Trade Ideas for the Week of October 7, 2013: Bonus Idea appeared first on Dragonfly Capital.

Dragonfly Capital