Category Archives for No Ads
How ‘Hit & Run’ Trading Beats Buy & Hold
Are you watching the headlines? You know it’s not time to mindlessly buy & hold. It’s time to Hit & Run. Get the best trades, hit ‘em… and then run with the money in your pocket. This week, Jeff Cooper’s been hitting and running in names like: ADNT: +$365.34 SPLK: +$284.25 GDS: +$520.00 MOMO: +$300.06 DOCU: +$222.74 Jeff even just squeezed out quick gains in ROKU and EPAM this morning. Did you get Jeff’s call for a Red October back back on September 27? That’s when Jeff told his subscribers this: “…downside follow-through demands defense as a big short may be setting up for October all the way down into the election.” And have you been long gold like Jeff? He’s up 16% in AG. He’s up 8% on AEM… and he might be about to add a new gold name to his portfolio. Want to learn Jeff’s Hit & Run Trading Method? And get his hardcover book? AND get his next big trade? Then check out the all-new Hit & Run bundle.
Continue Reading -->Scott Redler: Amazon’s Second Trip to $2000+
On August 30, we connected the dots on AMZN’s first trip to $2,000+. The stock made a trip down to $1,865 on Monday before a second trip above $2,000 today. Let’s look at it chart by chart. On Monday, AMZN reclaimed the 50 day fast and put in a Red Dog Reversal signal. I got long around $1904ish. On Tuesday morning, I noted that it needed a high-volume close above $1957.It then cleared $1957, breaking above the wedge, to hit $1975. Since it was up on day #3 by this time, I trimmed so I can add back if it wanted to rest. I also noted next resistance is $1993-$2008.And finally, AMZN put in two more up days to hit $2010+ — right above my resistance range.This is a good example of why I take an “if-then” approach to trading. I don’t just blindly buy based on patterns — I want confirmation of a move based on my levels before I commit.Positions Disclosure: As of September 28, 2018 at 12:33 p.m. ET, Scott J. Redler is long CDTI, CRBP, NIO, TWTR, AAPL, BA, XLE, NFLX, IBM calls, NFLX calls
Continue Reading -->Scott Redler: Tracking Big Tech Red Dog Reversals
Let’s take a fresh look at the action in tech. Yesterday, the QQQ’s got hit early but held the 50 day with a low at $181.30. It rallied and went green to outperform yesterday, which was good to see. As long as the 50 day holds, it is hard to get too bearish here. Let’s drill down to some individual names, starting with Nvidia (NVDA). Yesterday, there was a nice Red Dog Reversal buy signal around the $262.11 pivot. It also reclaimed the 50 day to close on the highs of the day. I’d probably look to trim it into the $270 area if I was long, but it has a little more room to $273.We saw a similar move in Amazon (AMZN). It sliced the 50 day fast at $1894 before reclaiming it. I’m looking to trim some this morning and hold some because there is a chance it gets better and resolves the range higher. But it really needs a high volume close above $1957 for that.Now let’s turn to Apple (AAPL). It started on the weaker side yesterday but reclaimed $217.29 pretty fast. I bought some lower yesterday. Now we’ll see if we can actually add higher. It would be good for tech if it can get above $222.50 and hold above it.Netflix (NFLX) as kind of an odd-looking inverse head & shoulders pattern. It reclaimed the 8/21 day yesterday to get me long. Now it would be healthy to clear $377 for upside. But for that to happen, it needs to get and stay above $373.64 first.Positions Disclosure: As of September 25, 2018 at 10:54 a.m. ET, Scott J. Redler is long FEYE, CGC, FB, BAC, NFLX, XLE, AMZN, IBM calls, GWPH calls
Continue Reading -->AMZN: Connecting the Dots on the Road to $2,000+
Amazon (AMZN) has been a big winner for Redler All-Access in the past couple of weeks as it woke up around the $1875ish area to finally break $2,000 today. If you read my 2018 Market Outlook Report back in December or January, maybe you saw my Amazon $2,000 call:I closed out the last of my recent swing long this morning, but let’s go back and see how we connected the dots in Redler All-Access. Monday 8/27 Chart AMZN wasn’t leading the market last week, but it looked ready to get back in the game. We had a potential wedge-type pattern with one of the best companies on the planet. I was long and looking to add if it could get above $1,919, then $1,925. I thought that if it could close above $1,925, then $1,950-$2,000+ would be next. Tuesday 8/28 Chart On Tuesday, AMZN was up $8-9 in the morning so I trimmed some. However, I wanted to stay with some because $1,950-$2,000 was possible for this week.Wednesday 8/29 Chart On Wednesday, Morgan Stanley put a $2,500 target on AMZN, which had the stock gapping up nicely above the descending trendline. I said that $2,000 could be a magnet in the sessions ahead, and AMZN managed to reach $1,998.69 on Wednesday.Thursday 8/30 Chart I sold the last of my AMZN long after the open today. After the big move from the $1,900 area, it felt more like a scalp than swing long. It hit $2,025+. Hopefully it sets up again for move to the $2058 area to celebrate the $1 trillion market cap milestone.
Continue Reading -->Can IBB Power Even Higher From Here?
IBB has been in close focus for Redler All-Access this week. On Monday, I told readers this: The bios held in well and perked up as IBB held $115 and cleared $117. Perhaps this week it gives a better move above $118.40 towards the $120 highs. We’ll look for clues. I ended up getting long during the day as it cleared the $118.30 area. If that level holds, I’ll try and stay in. In time, it seems like it should clear $119.78, then $120.06 for more upside. So keep those levels on your radar.AMD (AMD) has been another big name for us. It’s been a great vehicle in 2018 and hit short and longer-term objectives fast. It’s been very extended and I got short earlier this morning. I’ll proceed carefully with it.If we’re talking AMD, we should cover NVDA too. There was a big Red Dog Reversal buy signal last Monday around the $243.73 pivot. It also had power to clear $263 and hit $278.90 yesterday. I would not chase it here. Maybe it gives a cute short opportunity but I’ll proceed carefully in any case.
Continue Reading -->When Red Dog Reversals Signal an Igniting Market
Last week I was at the beach, trying to manage my long trades while catching some waves with the family. Things were great on both fronts — I had a great time on my trip, and the market gave us a lot of good trades. The action showed how you didn’t need to be watching the market 24/7 to catch the big waves. At the very least, two big Red Dog Reversals on Monday should have had you looking for long opportunities. Let’s start with the first: On Friday 8/17 Nvidia (NVDA) gapped down big after hit after earnings…. and then Monday 8/20, it roared back to life with a Red Dog Reversal around the $248.73 pivot. It reclaimed all moving averages, filled the earnings, gap, and it’s sitting at record highs this morning.Netflix (NFLX) also started last week with a big Red Dog Reversal signal. It’s gapping up over $374 this morning as it climbs further out of the earnings penalty box to reclaim the 8 day.AAPL has been good to us with a big move from $197 to $219.18 in a month. Last week, it consolidated while the SPX made new highs. I re-entered vs. the $214.50 area. I would like to see it get and say above $217.20 for a move back to the highs and perhaps $220+.TWTR has not been a barnburner, but it hit a high of $34.74. We’ll see if it can hold $33.50 this week to keep working towards the $37 gap area. But I’m not trying to add on strength – I’m looking to possible trim some and buy some back on a dip.
Continue Reading -->Scott Redler: Connecting the Dots on AAPL & BABA
We’ve been keeping a close on AAPL and BABA in Redler All-Access, so let’s break each of them down. They’re different stories — AAPL’s been a shooting star since earnings while BABA only caught a bid today. Here’s how we’ve been tracking them. This is the ‘Before Chart’ I posted yesterday morning. There was word that Turkey would boycott US electronics, and that China might do the same, but as you know, I like charts more than news. So what was the chart telling me? That AAPL needed to hold the $207 area to stay special. Yesterday, Apple was green in a sea of red, and I got long for a new entry. I then sold some this morning, and I want to see if it closes above $210.95. The measured move still points to $217ish.Now let’s turn to BABA’s ‘Before” chart. It was under pressure since the island top with most strength getting sold. It was below the 8/21 day and we needed to see how it handled big support at the $164-$166 area. BABA held the $164-$166 area and bounced. Now it has room to the $174 area, but I would take trades until it proves it has some real power.ddddd
Continue Reading -->Scott Redler: Is This Late January All Over Again?
During the past few sessions, I’ve been updating my daily SPX chart to show a comparison with the late January Island Top, which was right before the 2/2 plunge.What does the present day have in common with late January? Let’s see. Both times, we went below the 8 day first. Both times, the gap went unfilled, which was a sign of weakness. The market usually moves in the direction of the unfilled gap — to the downside in this case. That means you have sellers in control. My process puts me in Tactical Mode when the 8/21 break since those are my momentum moving averages. Remember, to see the 50/100/200 day, the 8/21 day have to break first. Tactical Mode means I start taking profits and cleaning up ‘loose longs.’ This morning, I closed out/was stopped out of my longs in names like AMZN, AMD, GOOGL, and FB. That’s not what I wanted for today, but taking paper cuts is part of the game. It’s not fun, but it’s better than gushers, which is why I respect my stos. But remember, panic doesn’t pay. So let’s get our levels mapped out. For a real correction, we need to stay below all moving averages. For now, if we stay below SPX 2819, there could be a trip to support around 2796. The 50 day is underneath at 2789. I’m not calling for a correction or crash — I’m just keeping my options open.
Continue Reading -->Scott Redler’s Tech Stock Breakdown: Citron Boosts Twitter
Tech’s always a big focus for me, so let’s go over some of my favorite charts sent to Redler All-Access subscribers this morning. Twitter (TWTR) has not been special, but this morning, I thought that trying it long vs. the $31.50 area could work. I went long some after the open, and then it got a boost from Citron Research, which issued this note:Here’s the initial chart I sent out:And here’s the followup chart I sent to RAA subscribers later this morning.I added around $32.85, and now I’ll try and trade around a swing long.Now let’s look at Google (GOOGL). It’s been a little sloppy and I got stopped out on Friday. I’ll see if I want to buy it again if it holds $1247 and acts well today. $1261ish is Friday’s high to watch.Apple (AAPL) still looks special and it was one of the first names to go green Friday. I nibbled a little this morning, because when the market wants to hold, AAPL seems to get ‘Go To’ status. It says that way as long as it holds $206.67. A strong move and close above $209.78 would be impressive.Alibaba (BABA) has been under pressure since the island top, and a lot of strength was sold around $200. It hit a low of $174.45 Friday. On Friday, it showed relative strength for the first time in a while and held the gains all day. I nibbled on some calls for earnings. Today, we’ll see if it says green to keep traders interested.And it’s not pure tech, but let’s look at Biotech (IBB) since it has so much attention. IBB is hanging on by a thread, and it really needs to hold $116ish. A hard close below that will get the active bulls out. If that happens, it will need more time to rebuild.
Continue Reading -->Can Apple Stay Special and Go Again?
Apple (AAPL) has been great to the Redler All-Access community. It gave us time to buy after earnings and hit a high of $208.74 on Friday. Now, it would be good to sit over $205.48 for a session or so to create a flag-type pattern. That could keep it special to possibly go again.Amazon (AMZN) didn’t have enough power to hold and go after earnings. If the market is going to be strong, it will need leaders like this one. To act special and help things, it needs to hold $1801 and perhaps $1841. Above $1841 could bring momentum back.Google (GOOGL) was a great options/earnings play. It put in a high at $1292 before tech came under pressure. If it can hold $1229ish, perhaps it gets tight enough to clear $1246-$1253 to get back in play. But it will need big volume.
Continue Reading -->