Feb 24 New Highs Market Update and Stock Scan

Feb 24, 2015: 1:33 PM CST

After the recent sideways consolidation, stocks continued their short-squeeze driven rally and “All Clear” breakout higher.

The trigger-break above 2,110 caused bulls to become more aggressive as sellers triggered stop-losses again.

We’ll update our key simple levels and note trending stocks today:

The breakout above 2,100 resulted in a short-squeeze where bears (short-sellers) unwillingly helped propel the market higher as they covered their losses with stops triggered above 2,100.

After the highlighted consolidation, buyers became aggressive into yesterday’s close which carried into today’s session.

Continue watching the 2,110 key focal point (note the recent bounce) and the upward momentum that could lift stock prices even higher (on the backs of the short-sellers covering losses).

Continue Reading…

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9 Stocks Breaking Strongly to New 52 Week Highs Today

Feb 24, 2015: 11:41 AM CST

As the S&P 500 extends its breakout to new highs – along with the powerful NASDAQ – individual stocks are also strongly breaking to new highs.

Let’s take a quick scan and highlight nine stocks that are breaking powerfully to new 52-week (and in some cases, new all-time) highs right now.

These stocks can form the basis of a watchlist to enter swing-trading or intraday-trading positions.

Using FinViz.com’s screener and charter tool, I scanned for the S&P 500 stocks making new 52-week highs today and ranked them by percentage above the 52-week high.

The chart above shows the Weekly Perspective of these nine candidates while the chart below is the Daily View.

At the moment, thanks to earnings, Home Depot (HD) is the strongest stock in the screen, followed by Monster Beverage (MNST) and Express Scripts (ESRX).

Other strong trending stocks include Lennar Homes (LEN), E*Trade (ETFC), and the CME Group. Continue Reading…

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Buying Apple AAPL on Breakouts to New Highs

Feb 23, 2015: 2:47 PM CST

Apple (AAPL) shares broke strongly to new all-time highs today, leaving some traders thrilled and others frustrated for missing out.

While most traders avoid buying breakouts, others see them as great opportunities to join a strong trend.

Let’s take a quick look at the current breakout as well as how shares have performed at prior breakouts.

The Daily Chart above shows two prior breakouts – October 2014 and now February 2015 – and the resulting straight-up movement that accompanied the breakout.

Keep in mind that price trends continue first from buyers buying (bulls) but also from sellers (bears) buying, but for a very different reason.

Buyers enter trades to profit from expected upside movement, but short-sellers must buy-back positions at a loss when their stop-losses are triggered.

Because many traders logically place stops above resistance levels, stop-losses… which are really just “buy” orders… can be triggered rapidly when price breaks resistance and triggers the stops.

This is the type of logic that fuels powerful trends and short-term breakout trading opportunities. Continue Reading…

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Feb 23 Flat Market Update and New Stock Scan

Feb 23, 2015: 1:44 PM CST

After a powerful short-squeezed breakout to new all-time highs, stocks traded flat to start the new week.

We’ll update our key simple levels and note trending stocks today:

The breakout above 2,100 resulted in a short-squeeze where bears (short-sellers) unwillingly helped propel the market higher as they covered their losses with stops triggered above 2,100.

Today has seen a flat or consolidation action between the highlighted pivots near 2,104 and the 2,108 level.

We’ll focus on these for any additional bullish breakout plays that may trigger above 2,110 or under 2,100.

Continue Reading…

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John Carter on Simple Strategies for Consistent Account Growth

Feb 21, 2015: 2:30 AM CST

Have you seen John Carter’s newest educational video?

Entitled “Why I Trade Options for Consistent Account Growth,” John breaks down the following chart in far simpler terms:

Both images link to the “more information” and free video page, and here’s the larger image:

I admit – I was particularly interested in “not going bug-eyed” looking for stocks!

Leave it to John to add humor to an otherwise intimidating topic.

He’s specially discussing the concept of Time Decay and how this can benefit you no matter what your experience or familiarity to trading options.

Do watch the whole video to learn more from my long-time colleague and affiliate John Carter.

Corey

Continue Reading…

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