Your Trade Ideas For The Week Of 9-17-12

Posted by Brian Lund in Your Trade Ideas

Here are some setups for your consideration this week.  Unless otherwise noted they are good-looking setups on the daily chart for taking day trades,( i.e. ”Set up for home runs, but hit singles and doubles”) and then swing traded at your discretion.

$ACI has looked like it has been bottoming for a while, and this breakout from a four-month range may finalize it.  a few days of sideways movement above the breakout point would set up a nice long entry that could get as high as the 200ma.

Last week I said $AMAT “was not ready yet,” well now it is.  Some basing below resistance would be nice, but it may not give you that pause.

Another one from last week that wasn’t quite there but is now.  $CHK  is a buy on the break of the 200ma with a stop below the rising trendline.

$FB is going to find a resistance level right about where the 50ma is.  If it can break that, it can run.  As always, some sideways action below resistance would be ideal.

Earlier this month $FDX warned, and since then the stock is up about 6%.  After earning announcement Tuesday, a break of the downtrend line would be a buy.

Don’t know what they do, but $GAME broke support, then put in a double bottom and re-captured that support level.  A sideways basing pattern could be setting up a nice run.

Its industry relative $AVL has taken off lately, and $MCP has put in a “head-and-shoulder like” pattern below gap resistance.  A couple days sideways below that level would be a good risk/reward entry.

A bit sloppy, but $SFLY is putting in a series of higher lows as it approaches this resistance level.  Sideways action needed for a few days here before attempting to break out.

$WLT has been on the “where’s the bottom” guessing game for over a year now.  A few days consolidation and a break over $40 and I would vote that it’s in.

Yes, it’s sloppy, but the large “W” pattern in $YELP may resolve itself like a similar pattern in $WPX did last week.

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  • Farrok

    The greatest attributes for a trader is Patience, Courage, Steadfastness
    and good judgments. In every trade there is a winner and a loser…………. Also no
    one can predict the future, remember the old adage: On Wall Street Fools become
    millionaires and Wise men go broke. Sometime an intuition is better than a
    detailed study!

  • Farrok

    What I see in Avalon Rare Metals is its products are a
    Requirement for weapons, electronics and Green Energy. The stock is in
    Accumulation, that is the stock is passing from “Weak Hands to Strong Hands”
    This means that the purchasers who buy it now will hold it for many years till
    the investment ripens. If you purchase this issue of stock now while you
    children are young by the time they reach college this stock may be extremely
    valuable. As the materials this company
    mines are a finite resource and will become more valuable as they are used up
    in modern technology…………. Farrok

  • Farrok

    World industries have slowed due to the current economic paradigm.
    Avalon Rare Minerals (AVL) in time will be very valuable and in the event of
    War these commodities will be priceless. It’s just a matter of time
    for this stock to increase in value.

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  • http://twitter.com/DayTradingBuddy Remzi

    Are you sure these are not setups better suited to swing trades? I like $WLT, $MCP, and $FB here as good long swings too. Not sure about the others, and not sure about the market either, especially considering how badly Israel wants to make war

    • http://bclund.com/ bclund

      Hmmmm……