The Pause That Refreshes
Swing traders who like to trade pullbacks should love the TradersWire,
as we often profile several of these, both to the upside and the
downside, every day. One of the parameters I like to use in my screening is to
use the StockScanner to search for stocks with a three-month relative strength
rating of 80 or higher for longs and of 20 and lower for shorting candidates.
This assures me of trading stocks that are performing in the top 20% to the
longside and the bottom 20% to the shortside.
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09:46:00
 Christopher & Banks (CHBS)
is attempting to rally out of a pullback from the April 11 high. The issue
is bouncing from its 50-day moving average, and it is up 1.00 at 31.40. CHBS has
a TradingMarkets.com
3-month RS ranking of 92.
Â
Christopher & Banks
(
CHBS |
Quote |
Chart |
News |
PowerRating) is alerted on April
17 early in the trading day. The stock runs higher for 6 points from the entry
point.
Â
AdvancePCS
(
ADVP |
Quote |
Chart |
News |
PowerRating) is profiled in the “Uptrending
Stocks In Consolidation” list on the TradersWire at 9:01 AM on April 10.
ADVP gains more than 4 points from the entry when it trades above the previous
high.
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Pullback traders, make use of the Insights
From the War Room posts to find potential candidates. Even if you
do not trade full time, these setups can be a benefit to you. You can skim the
posts each night for pullback setups, then do your own chart work to determine
if the trade is one that falls into the parameters of your methodology, and the
probable direction of the overall market dynamics. We will often track a setup
for two or three days, so there is ample opportunity for swing traders to profit
from the pullback setups we profile.
Have a wonderful weekend,
Duke
P.S. Football fans, take heart! The NFL Draft begins tomorrow –
which means real football (sorry XFL fans) is just around the corner.