Watchlist for the week of April 22-26, 2013

There was a decent selloff last week, and we bounced right where expected on the ~153.00 to 153.50 level on the SPY, that had been resistance and support previously. Gold, silver and the miners had terrible weeks and are quite oversold, so I'm expecting a small bounce this week, both in the markets and the metals. However, I think this will be a short bounce and we should see more lower lows in the coming weeks. In any case, the short-term trend has slightly changed and it is now better to sell the rips, rather than buy the dips.

On the SPY, I'm looking at a first target of 150, and then the next target of ~147-148, which also coincides with approximately the 50% Fib retracement from the Nov lows to the April highs. I've been short the indices since late March, and covered the last shares on thursday. I'll be re-loading short this week hopefully, around the 156-157 area.

Here are some setups I'm watching this week:

Long: BIOS, MNST, EDMC, RATE, KERX, LGF

Short: MXWL, BBRY, RKUS, WPRT, UPS, GPRE, NFLX

Parabolic: OSTK, ALKS, ACOR, VRTX, ANAC, RPRX, HXM

Bounce: NUGT (the 3x ETF for GDX), SLV (AGQ), GLD (DGP), WLT, CLF, GNK, UTEK, RAX


Also, feel free to check out my free chatroom, link is on the right hand side. We have some great traders and make awesome calls all day long!

Good luck this week!

Watchlist for March 25-29

At the beginning of February, I posted that would likely run up to the 155-160 area on the SPY... We've reached that target, so now what? I think the odds of a pull back are pretty good now, but I think we might see one more push to re-test the highs, or perhaps a tiny bit higher this week before a pullback happens. The market is still very strong and the bad news is not creating much panic yet. Also, I think a failed breakout to new highs would be the perfect storm to get more people long and then a selloff could happen. This is just an idea, and might not happen... Either way, keep an eye on the trendlines and the box pictured below. We will likely trade within this box for several days.

There were quite a few good looking short setups this week, and I'll be watching them if we get any weakness in the market this week. Here are some stocks I'm watching for the week:

Long: TOL, ROVI, GMCR, OPEN, CVLT, SBGI, NTWK, TA, GME, HIMX, HOLX, TVL, ASTX

Bounce: WAC, HXM, MXWL, CHKR, PCYC

Gap fill: ELN, PAY

Short: WPRT, RNF, LULU, GLNG, PETM, VHC, MS, HFC, RAX. MTGE

Parabolic: CZR, YRCW, UNXL, FLO, AWAY, NAT, EVC, EGLE, ANAC

Watchlist for the week of Feb 25 to March 1

We had a 2-day selloff this week and it happened on fairly big volume. However, I don't think this is the end of the uptrend for the year, and I would suspect in the next few weeks or months we'll make a new high, before any big correction happens. In the near term, I think we'll be chopping in a range for a little while. In any case, we now have some pretty clear boundaries with resistance at ~153 and support at around 151 on the SPY.

Here are some stocks I'm watching for the week:

Long: PANW, INFI, BCOR, ENOC, SVU, OPK, GMCR (triangle consolidation, could go either way)

Bounce: PAY, FOLD, EBIX, TRLA, RNF, MOS, AGU

Short: BGMD, ZLC, LULU, SOHU, KERX (if it breaks 6.50)

Parabolics: MBLX, YY, PRKR, NVGN, TECUA, NTWK, PIKE


Good luck this week and feel free to check out my free chatroom!

Watchlist for the week of Feb 18-22

The markets keep pushing higher since my last post 2 weeks ago, and all the same trendlines remain. We've almost reached the first ascending trendline and RSI is getting close to oversold levels on the weekly chart. Perhaps one more week higher, and we should see a pullback. Alternatively, it's possible that we see a small pause this week, before moving higher again next week... Either way, we're still in an uptrend on the weekly chart!

 

 

The only thing to take notice of is on the daily chart, where price keeps making higher highs, but volume is decreasing on green days, and RSI, stochastics and MACD are all starting to show some divergences (higher price, lower high on indicator). Additionally, the down days are seeing higher volume lately, and I think it would be very healthy to come back and visit the 20d MA, which hasn't been touched in 2013.

 

 

 

Here are a few stocks I'm watching this week:

 

Long: OSK, NTAP, TZOO, YPF, KERX, VHC, TA, HMPR, CELG, BMRN

 

Short: GNK, SIMO, BIDU, PETM, RAX, RPRX

 

Parabolic short: SPWR, DQ, UNXL, TECUA, INCY, BIOF, EV, PCYC, TRLA, VCLK, ASYS, ROIAK, ATVI

 

Bounce: HSP, EZCH, PBR, RVBD, END, EHTH

 



 

 

 



Watchlist for the week of Feb 4-8

I appologize for not posting lately, I have just been lazy since the holidays! Anyway, the market has basically been grinding higher since mid-December, and we've had an amazing run in January! It's kinda hard to tell where we're going from here, but from the weekly chart below, I can see the SPY moving higher to the 155-160 area. We might have small pauses along the way, but the market is really strong so I don't see any reasons why we wouldn't push up to 155 at least. On the daily timeframe the SPY is slightly overbought, but not on the weekly timeframe, so there is more room to go higher. And RSI on the weekly has been doing a great job with timing the major rotations in the market, so until that stops working, I would keep an eye on that for your general market trend.

 

 

It might be a bit late to go all-in long here if you haven't participated in this rally yet, as the market has already made a big move, but I think if you play a few good setups, and have tight stops, there will still be some opportunities on the long side.

 

One of the stocks I'm watching is ESI, that is forming a bull flag on the daily chart, and looks ready to break above the 50d MA for the first time in almost 1 year. Every time it tried previously, it failed, so it needs to hold above this time and we might see a powerful move. I'm long 1/2 size and will add if it can break and hold above the 50d MA.

 

 

 

 

Here are some more ideas for the week:

 

Long: DISH, PKD, OCN, MOV, ADBE, NAV, TECUA, ZNGA, IQNT, ARO, CRNT, IMUC, ACTV

 

Short: FSLR, RPRX, EGHT, BKS

 

Parabolic: MGAM, UIS, BLRX, AGO, TA (could also be a long), GTN (could also be a long), KERX (on bounces),

 

Red to green: OTT, EDAP, CCUR

 

Bounce: RIMM, HALO, CLSN,

 

Good luck this week!

 

 

 





Watchlist for the week of December 17-21

We had a small pullback this week, which was well-needed in my opinion. On the daily chart of the SPY we're forming a triangle consolidation withing a larger pattern. I expect the market to find support around the lows of friday, or perhaps a tad lower near the 141 area, which coincides with the 20d MA. Volume is likely going to be lower until the new year, which is often good for small caps or stocks with high short ratios.

Here are some stocks I'm watching for the week:


Long: CTXS, SMBL, GPRE, EXPR, DNDN, RVBD, BAC, SLXP, CLMT, FXEN, CPHD, AMD

In play: SWHC, ARIA

Bounce: DKS, ARIA, AVD, TEVA, OPTR, ALLT, SWKS

Short: BEN, CALL, FB, USB, CHK, CALI, NAK

Parabolic short: NED, QUAD, NEON, RKUS, ICPT, TSL, STXS


Good luck this week!

Watchlist for the week of Dec 10-15

Last week we printed a bunch of dojis in a row, marking some indecision in the market. On the SPY daily chart, we're consolidating in a flag, or ascending triangle. All the moving averages, except for the 50d MA are curving up, and it seems like we might try to make a run to the highs by the end of the year. Typically December is a good month for equities, especially small caps which usually run wild into the end of the year! The only thing that concerns me is that we are slightly overbought, particularly on the Russell and the QQQs are weak in comparison to the other indices. I'm positioned slightly long, but I would get concerned if we broke below the 50d again though and even more if we breakdown from this triangle consolidation...

Here are some stocks I'm watching for the week:

Long: MNST, SMBL, GPRE, CNC, KLAC, LULU, HUN, FST, SIG, IDIX, MCP, Z, COV, BTH, AMD, CYBX

Red/green: HUM, MHP

In play: GMCR, SWHC, GRPN, FB

Bounce: FCX, LFVN

Short: HES, TOL, LEN, JOBS, NOV, OSTK, ZLC, CALL, SINA, PCYC

Parabolic short: CBMX, MHP, SD, GTIM, UNXL, GNW, BEAM, MU, RKUS


Send me a tweet if you want more info on how I play these setups @cath_campbell
Good luck this week!