Trade Plan For 8/7
Market Condition:Neutral, but the market is set up for a big one day move in either direction.
Long Focus:
- JWN
- FSLR
Short Focus:
- BBY
…
Longs:
COST
JWN
AAPL
INTC
ONVO
PRU
WMT
EHTH
PM
YOKU
FB
FSLR
HFC
OI
CLF
SFM
Shorts:
BBY
AMZN
DVA
NFLX
TXT
IPG
APC…
Not sure I would consider today’s relatively meager rally a bottom, rather, more of a potential launching pad should the market hold up going into Thursday.
Clearly, there remains a lot of vulnerability in the indices not to mention uncertainty …
NOTE: Stop lowered a bit in SCCO
++++++++++++++++++++++++++++++++++++
New Position: SCCO: Long 33.43 ATR .65
Name of Instrument: Southern Copper Corp
***Sell Stop: 31.89 lowered
Reason for Trade: Clearing the 200 weekly moving average and has already cleared the 80 …
Longs:
XRX
SCCO
COST
AAPL
WMT
EHTH
TXT
HCA
KSS
BID
Shorts:
BBY
RTN
AMZN
DVA
NFLX
PSX
HAL
TWC…
As the Phase turns or as I have written earlier this week, once the cycles begin the points of deterioration, in this case, simple physics-things in motion stay in motion-we get, well, what we saw during Tuesday’s session.
With NASDAQ …
***NOTE: CANCEL BUY STOP XRX: 13.21
Name of Instrument: Xerox Corp
++++++++++++++++++++++++++++++++++++
New Position: SCCO: Long 33.43 ATR .65
Name of Instrument: Southern Copper Corp
Sell Stop: 2 ATRs away or 31.99
Reason for Trade: Clearing the 200 weekly moving …
Longs:
CTRP
XRX
INTC
HPQ
JWN
COST
KMX
HCA
GLPI
ODP
WMT
FCX
SCCO
IBM
WMT
FB
CHK
DANG
APC
VFC
Shorts:
RTN
NFLX
TRN…
As lots of damage was done last week, coming into this week, there were many reasons to expect therelief rally that Monday brought forth.
First, on a short-term basis, the relative strength indicators showed oversold conditions. Secondly, the Russell 2000s …
NOTE: ODP: ATR .15 filled 5.17 SOLD 5.05-found out after the fact that it reports before the open August 5th-will revisit
Expect at least one possibly two more trades this week…