Contact Hitter
Insights From The War Room often
uncovers some great opportunities for swing traders. It has been much more
difficult in these choppy markets, but the chance for winning trades exists if
you attempt to hit singles and a couple of stand-up doubles here and
there. What you must remember is that these setups are based on what a
particular analyst saw that interested him or her as a trader. Look at the
charts yourself when you see a setup profiled to see if it fits your particular
style of trading and risk parameters.
Offshore Logistics
(
OLOG |
Quote |
Chart |
News |
PowerRating) is up slightly following yesterday’s
post alerting the stock touching the top of a flag pattern.
09:22:03
 Offshore Logistics (OLOG)
closed near the top of a flag Friday. Transaction volume was heavier than
normal, and the issue finished at 25. OLOG has a TradingMarkets.com
3-month RS ranking of 94.
Yesterday we were looking at Helmerich and Payne, which appears
to be following through. At the time this is being written, HP is up 1.76 at
52.70.
12:39:44
 Helmerich and Payne (HP)
is bouncing off an area near the convergence of a 50% retracement and the 50-day
moving average. The stock is currently up 1.70 at 50.59 and holds a 3-month
relative strength ranking of 89 from TradingMarkets.com.
What you must remember when the markets are choppy is not to get
married to a swing position, trail profitable positions with stops moved to at
least your entry point, guaranteeing a breakeven trade (less commissions) if the
stock does whipsaw you.
Keep an eye on Aviron
(
AVIR |
Quote |
Chart |
News |
PowerRating) in a pullback from low
setup.
In closing, one of the things I hope to do in this space is to
show you the many different variations the Java Applet and the Insights can be
used to assist you in your trading. Take a look at how you trade and what
information is important to that, then go from there. Keep in mind that just
because a setup is presented in one fashion, it does not mean it can’t be beneficial
to you. I use this recent email from TradingMarkets.com member Stan Louden to
show this:
Ahoy Duke, (from the Caribbean)
I felt that I should mention your “AA call” two days ago, because I do
not know if you get feedback.
I read your nicely presented analysis about Alcoa, and then bought at $36.40. It went to $37.00, and I sold.
This was a very nice daytrade for me.
Your article about AA, which I accidentally caught at the right time, proves to me that I must find some way to benefit from this rich source of daytrading assistance.
Stan is referring to the March
13 profile on Alcoa
(
AA |
Quote |
Chart |
News |
PowerRating) which was intended as a setup geared
toward swing traders, yet he figured out how to use the analysis to work into
his own style of trading. Thanks, Stan.
Until tomorrow,
Duke