Free Trade Setups for 9th December 2010
Usually scanning result will tell me a lot for future day expectations. During night I spend a lot of time with charts and my long/short lists are not big and that mean risk for new setups is higher and I will respect that. I always have some ideas for both sides.
Long: ABV, NUS, MOT, EBAY, NVLS, PWER, PCAR, CMA
Short: YUM, TKLC, BIDU, BEAV, VNO, LZ, HCP, HANS, ITRI.
On every of those charts I filled alarm and I will wait if something interesting will happen but I cal them “if charts”. For now those are all ideas but we need also market help because if we will see range action like last two days then risk will be higher and very possible we wont see much action after setup.
Live trading room is free for two more days and I will post all updates in the room about those ideas and also during doldrums time I will give moving average class so I invite you all to join us. It is 100% free for two more days.
Best Buy Co. Inc (BBY)-short
Technical Analysis:
Despite of Wednesday entry BBY still look good under Wednesday low and reason for that is range day. True, we got doji bar what is indecision, but despite of that I’m interested for new short under low and run to daily 200sma support area.
Fundamental Analysis:
Earnings growth in the past year has accelerated rapidly compared to earnings growth in the past three years (positive). The ratio of BBY's price-to-earnings multiple to its five-year growth rate is above the average of all stocks (negative). Previous day's closing price for BBY was close to its 50-day moving average (neutral).
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Watch ideas:
Long ideas:
Short ideas:
For Ivica Juracich trading style explanation: click here
TRADING THE OPEN
During normal market conditions our regular setups generally do very well regardless what time they are taken. Trading right at the open always adds risk. During this low volume choppy market of the summer this risk is more pronounced. It is recommended that new trades not be taken for the first 5 minutes the market is open. I will treat each new trade that sets up during this time as a gap trade and wait till the stock comes back and takes out its 10 minute high or low.
Trading is risky. It is our job as traders to reduce this risk and increase our chances of success.
IMPORTANT: Take only the opportunities that you really like and understand. Always enter a trade with a trading plan. If you have any questions, please feel free to ask me. There is a much greater chance of success in your trading if you understand the trade. That is very important. Taking just a few trades is enough to be a successful trader. Overtrading is probably the number one reason new traders fail. I personally mostly take swing trades. Please remember to keep that in mind!!!!!!!!!!!!!!!
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If you have any questions, please feel free to contact me.
Good luck trading today!
Ivica Juracich
XpertStockTrader.com
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