Off the Charts
LONG IDEAS
Added:
Removed:
Start Date | Symbol | Trade Setup | Entry Price | Stop Level | Target Zone | Earnings Date | Avg Vol (90-day) | Room | Strategist |
10/9/13 | CUBE | Bull Flag | 18.60 | 18.10 | 23.00 | 11/4/13 | 1.0 mm | ||
10/14/13 | KKD | Resistance Break | 23.60 | 22.25 | 26.50 | 11/18/13 | 1.5 mm | ||
10/14/13 | SBUX | Resistance Break | 78.00 | 76.25 | 83.00 | 10/31/13 | 4.0 mm | ||
10/14/13 | DDD | Resistance Break | 55.85 | 54.00 | 60.00 | 10/29/13 | 3.6 mm | ||
10/14/13 | NOV | Range Breakout | 80.30 | 78.00 | 90.00 | 10/25/13 | 2.8 mm | ||
10/15/13 | WLT | Resistance Break | 16.10 | 14.20 | 22.75 | 11/4/13 | 8.2 mm | ||
10/16/13 | FB | Resistance Break | 51.60 | 48.00 | 60.00 | 10/30/13 | 78.6 mm | ||
10/20/13 | MOS | Resistance Break | 47.10 | 45.00 | 52.00 | 11/5/13 | 8.0 mm | ||
10/20/13 | MON | Resistance Break | 107.10 | 105.00 | 113.00 | 1/8/14 | 2.8 mm | ||
10/21/13 | DIS | Inv Head & Shoulders | 67.95 | 66.00 | 75.00 | 11/7/13 | 8.0 mm | ||
10/22/13 | KORS | Ascending Triangle | 78.83 | 75.50 | 86.00 | 11/5/13 | 3.3 mm | ||
10/22/13 | WFC | Descending Channel | 43.00 | 42.00 | 45.00 | 1/13/14 | 17.5 mm | ||
10/24/13 | LGF | Resistance Break | 37.80 | 35.80 | 41.00 | 11/7/13 | 1.3 mm | ||
10/27/13 | SNDK | Resistance Break | 70.50 | 66.90 | 76.00 | 1/22/14 | 4.8 mm | ||
10/27/13 | TRIP | Range Breakout | 80.00 | 71.50 | 95.00 | 2/10/14 | 2.0 mm | ||
10/28/13 | PG | Range Breakout | 81.85 | 79.50 | 87.00 | 10/25/13 | 7.4 mm |
SHORT IDEAS
Added:
Removed:
Start Date | Symbol | Trade Setup | Entry Price | Stop Level | Target Zone | Earnings Date | Avg Vol (90-day) | Room | Strategist |
10/10/13 | DE | Channel | 80.50 | 83.00 | 74.00 | 11/20/13 | 3.2 mm | ||
10/21/13 | Z | Bear Flag | 81.00 | 85.00 | 69.00 | 11/4/13 | 1.3 mm | ||
10/28/13 | TSLA | Head & Shoulders | 161 | 167 | 145-147 | 11/5/13 | 10.6 mm |
Trade Idea Updates
SanDisk (SNDK)
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Today: SanDisk (SNDK) triggered our listed buy price of $70.50 as the stock closed at $70.79 today.
Monday: SanDisk briefly broke above the short-term downtrend and is approaching our entry price of $70.50 as the stock closed at $70.21 today. Keep an eye on this trade idea.
Sunday: SanDisk had a nice break out after the company reported strong earnings on Oct. 17. The stock has been holding above the 8-day EMA showing healthy digestion. A break above the pivot high of $70.50 could send SanDisk higher.
Wells Fargo (WFC)
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Today: Wells Fargo (WFC) triggered our entry of $43 today. The trade idea is in motion.
Oct. 23: Wells Fargo continued to hold above its 8-day EMA to build a nice mid-level base over the last 6 to 7 sessions. The stock is approaching our entry price of $43 as it went to as high as $42.99 today.
Oct. 22: Wells Fargo has been traveling in a descending channel for the past three months. Recently it has been holding higher to approach the upper end of this monthly range. A break above $43 could send the stock higher.
TripAdvisor (TRIP)
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Today: TripAdvisor (TRIP) triggered our buy price to outperform the market today with 5.84% gain. The stock closed on highs of $82.35 signaling potential upside follow-through.
Sunday: TripAdvisor has been building a nice upper-level range after the big gap up from earnings on July 25. A break above $80 could set it back in motion for higher prices. Our target in this trade is $95 from the measured move of this monthly range. Stops could be placed at $71.50.
Michael Kors (KORS)
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Today: Michael Kors (KORS) is approaching our entry area of $78.83 as the stock went as high as $78.82 today. Keep an eye on this trade idea.
Oct. 22: Kors is added to our long watch-list today as the stock showed relative strength and extended higher to briefly break above the prior 52-week high of $78.62. The stock has been in a healthy accelerated uptrend since June. The stock could see continuation to the upside ahead of earnings on Nov. 5, but keep in mind we do not believe you should hold short-term equity positions into earnings. Stops for this trade idea are placed at $75.50.
Tesla (TSLA)
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Today: Tesla (TSLA) triggered our entry and gave a quick short trade during today's session. The stock went as low as $153 today, but reversed back into positive territory. In a strong bull market, you may sometimes want to consider taking profits on short ideas more quickly before they hit swing targets -- a fact that was highlighted with Tesla today. The T3 Live Virtual Trading Floor can help you understand how to navigate positions based on the market environment.
Monday: Tesla has been a darling of the market this year but has been showing relative weakness in the past couple weeks. The stock has formed a Head and Shoulders pattern, which is typically a bearish setup. A break below the intermediate support level of $161 to $162 could bring out more sellers. Our target area is set at $145 to $147 from the measured move of the pattern.
CubeSmart (CUBE)
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Today: CubeSmart (CUBE) was very strong after initially triggering our entry price, but it did not reach the target and is now showing weakness. We have now moved the stop-loss level up to break-even on the trade idea.
Oct. 14: The stock continued to act well as it has been seeing healthy digestion after the breakout on Oct. 10. Our target stands at the $23 area.
Oct. 9: CubeSmart is forming a tight bull-flag type pattern just below multi-year highs and still holding above its 8-day EMA. The stock finished up 0.88% today, showing impressive relative strength. Look for a potential break above our long entry price of $18.60.
Lions Gate Entertainment (LGF)
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Today: Lions Gate Entertainment (LGF) has not triggered our target entry area, but has been showing some weakness. We will remove this trade idea from long watch-list if it breaks below $33.
Oct. 24: Lions Gate is added to our watch list today. The stock has healthy uptrend support that has been in place since April. It also bounced off the rising 21-day EMA recently, showing buying interest at these upper levels. A break above the 52-week high of $37.80 could bring in more buyers. Stops could be placed at $35.80 with a target of $41 to $42 from the measured move of the recent upper-level consolidation range.
Marc Sperling is long Z, Z calls, WLT calls, FB, FB calls, TSLA. Scott Redler is long FB, FB Calls. Richard Annunziata is long PG, SNDK, TRIP. Dan Darrow is long DDD calls, Z calls. Steve Levay is long Z, DDD. No other relevant positions.