10 New Setups To Watch This Week

Hi Traders!

Spent ALL day with the family on this Father's Day! Hope you all had a blessed and happy time with your loved ones.

Let's get to work now! As has been the norm lately, most of the quality setups have been the SHORT setups.

Gotta trade what you see as they like to say!

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Short Setups To Watch In Case The Bears Mean Business!

Keep these handy in case these angry bears have a more serious agenda than many of us have in mind currently. As a pure technical trader (neither bull nor bear), i cannot help but look at the under the surface over the last 1-2 months and think that some bigger force is working very hard to knock equities down. Only recently have we seen the big spikes in the VIX that is often seen near market lows as fear and panic starts to take over HOWEVER, this time it sure has a "different feel" to it. There is almost a "disbelief" among the trading/investing community that something really big could be starting on the down side. What will be the catalyst? I have NO CLUE. i am only a short term trader who looks at how equities behave by manually scanning hundreds of stocks daily and nightly and it's safe for me to say that things have been very questionable for a while now.

Look, i am sure we are going to see bounces(some strong, some weak, some will feel really "good") but things are starting to tell me that we could be looking at a much bigger decline sooner, rather than later.

I hope that i am dead wrong on this and like i said, i am a short term trader so long/medium term projections really mean nothing to trader who is short term but it's important to keep in mind where the big picture COULD BE HEADED.

Trade smart, respect stop losses now more than ever. Protect the MOTHER GOOSE! Most of the long positions i have traded lately, once stopped out, i look back at them several days later and i notice that i got stopped out at MUCH higher prices from where these stocks are currently trading at NOW.

What has been working? Simple, LARGE amounts of cash levels and SHORT positions!

Wish you all happy trading.

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New Setups To Watch and Market Analysis

New Setups To Watch This Week

Here's the list of stocks i'll be watching next week. Some longs and shorts. Going into this week, we are gonna need to be very nimble once again. We are very oversold on many measures such as the Mcclellan Oscilator (NYMO) and the Put/call ratios (CPCE). NOTE: in strong bearish trends, (like the one we are seeing now), these OVERSOLD/OVERBOUGHT indicators can get you into trouble if you use them as stand alone indicators. "Oversold" can certainly become much more oversold before a big bounce materializes.

Be very cautious when using NYMO or CPCE in a strong bearish phase. So use them in conjunction with other tools/signals.

Overall, i highly recommend still being very nimble and being able to enter and exit shorts and/or longs quickly. Not the time to look for home runs that for sure. Hit and run trading environment. Be very selective. Set the alerts, once a stock setup triggers, demand only the best setups that work best for that particular market condition.

Trade em well!

Art Of Trading Members' Feedback On Recent Trades!!

Hey Stewie,

I notice that "bye bye" are your magic words today :)

I shorted YOKU @ 40.50 (from the SHORTS SETUPS LIST sent yesterday) after you wrote "bye bye YOKU"

I covered half @ 39.08 (+3.5%) and another half @ 36.77 (+9%).

Your call was PERFECT!

Thanks

Laura (member for 1.5 years!)

Stewie,

Entered the NTES trade after the trigger(from the shorts setups watchlist) I waited for the bounce and placed order 300 shares at $45.23 short

Sold 100 at $44.61 Sold 100 at 44.25 and out on last at 44.17

100 profit $ 62.00

100 profit $ 98.00

100 profit $ 106.00

Total $ 266.00

Again great call Stewie!!!

Thanks!

John (member for 2 months)

Hi Stewie,

Great picks for yesterday! Here are my trades, I took profits and cut losses quickly:

AFFX entry 7.12

half exit 7.32 for +2.8%

half exit 7.18

QPSA entry 8.79

full exit 9.23 for +5%

SQNM entry 8.21

half exit 8.30

half exit 8.33 for +1.4%

CORT entry 4.96

full exit 4.91 for -1%

GGP entry 16.48

half exit 16.60 for +0.7%

quarter exit 16.70 for +1.3%

quarter exit 16.47

QTM had alert but missed a nice one.

Glad to hear your daughter is fine!

Thanks and enjoy your weekend!

Moti (member for over 1.5 years!)

Hi Stewie,

Good to hear your girl is ok, some good sleep should take care of it now! As requested my entry/exits

QPSA 9.01 entry stopped out at 8.88 = -1.44% (was nervous going long, should have kept that!)
QTM 3.27 entry, took at 3.45 = +5.50%
SQNM 9.02 entry took at 9.32 = +3.30% (from chat yesterday)

Thank you

Dave (member for 1 month)

Turnaround Tuesday?

Choppy as hell out there folks! Believe me, you are much better off NOT doing anything in this type of tape. You will get VERY frustrated. Relax and really focus on finding A+ setups. Would rather see a trader not do any trades for 2-3 days and only take A+ setups, then put on 15-20 C+ trades.

Having said that, i am starting to sense that the selling is starting to 'decelerate'. This could be our first clue that a bounce is starting to brew around these levels right here.

$130 on SPY seems to be holding for now. I am sensing that they (who ever 'THEY' are) are trying to create a bounce off this $SPY 130 area. We might see some choppy, back and forth dancing around today to frustrate everyone BUT i think the rally(if it comes), will start tomorrow, Tuesday.

Turnaround Tuesday..... possibly in play.

Have an open mind and remember in this kind of market: LESS IS ALWAYS MORE!

Happy trading!

JOIN US FOR A 14 DAY FREE TRIAL TODAY!!

Make sure to ask about SMS texting of the alerts and Auto Trading of the alerts!

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New Setups To Watch

This is a HIT and RUN market. Enter trades quickly and look to take gains even quicker. Look to take off losing trades or stocks that take too long to 'get going' very quickly. Take only the absolute best setups preferably stocks that breaking out on big volume.

Make sure to check out "HOW TO PROPERLY TRADE A BREAKOUT" video.

Happy trading!

Is Your Head Spinning Yet?

Very confusing and wild volatile action all around this week. This market is still looking for direction and gets knocked around like a rag doll. The downward channel that started 4 weeks ago is still intact and thus far, the indexes are bouncing around within this channel. We are oversold after yesterday's 300 points selloff on the Dow and another 100 points lower today. We are dead on support as i write this post.

It's do or die time for many indexes.

I think the indexes will hold these support levels for NOW. But the more price knocks on a support line, the more likely it is to break it. So stay NIMBLE and very light PLEASE!

I personally think the indexes will hold here(today) and could see a small bounce from here even.

However, I am in 100% cash and happy to keep it this way for now.

Trade carefully!!

Good luck!