Stock pick for 11/30/2011
Dear traders,
I believe that you all can see what problem can be when market is nervous and when some good Europe news waits. I hope you all read Monday market commentary and I can repeat all. Patience, patience and again patience. I know that all will back in normal and don’t spend all bullets when truly fight will come. I really like to explain everyone how to recognize risk and how to react in specific market and I decide to give more explanations on all my ideas. In hope that you all will like it sending you full watch list for today and I invite you all to join us. All comments will be very helpful
All best
Ivica Juracic
AREX
Technical view: On the first chart (60 min) we can see consolidation. We can call it range, or flag or channel or base, whatever it is, but it is co0nsolidation after move and that is always opportunity for another move up and continuation. Entry is above consolidation with stop under consolidation and I think that is clear on the chart. On the other side I like to show why I like AREX. If 60 min time frame will work and if we will see good pace and volume the AREX could break on new daily high above $30.10 and in that case odds for swing move will increase and then it will be good for swing trade. This is example what I’m looking for during my scanning. At this moment, in this kind of market (news market) it is hard to say that will work or not, but when market will back in normal and I know that will, this style will give you excellent rewards and that is way to be successful.
BIDU
Technical view: BIDU rounding top is on my interest and in case that sellers will back then we could see at least run to 120 area and with some bigger selling pressure (won’t be strange if Europe bad news come out) the BIDU could break lower and $100 is previous weekly low. After that it is weekly 200sma as HUGE support area. Of course in news market all depends on news. Stop what I use for start is above 15 min 200sma or above previous high. I don’t want use bigger stop on BIDU because it can be very fast and this is “do or die” trade opportunity.
SLV
Technical view: SLV idea is not far from BIDU idea. Weekly bear flag, on the daily chart it is at 10sma resistance area, pace after strong move down from November 16th is weaker and form triangle pattern what we can see on the 60 min time frame. My idea is short under Tuesday low with stop above 200sma 15 min. That is intraday trading plan, and it can turn to swing trade. Most of my ideas are based on intraday trading plan with swing odds, and if will work then usually reward will cover several negative trades.
Short ideas
Technical view: TIF broke down on huge volume and after morning whippy action fell in range (rest). It will be nice if range will continue until 60 min 10 or 20sma and then try with short trade with that resistance behind. Anyway, I hope that ides what I draw on chart is clear. It will depend on open action and it will depend on weakness versus market action.
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"I have been trading for over 5 years. I am continually impressed by Ivica's understanding of the market. He provides low risk and extremely profitable trading opportunities. His watch list is always concise and includes an overview of the market as well as very specific set ups..."
Debbie Groll
