Your Trade Ideas For The Week Of 9-23-12

Not much action off of last week’s list.  The vast majority never triggered and the couple that did would have washed against each other.

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.


No idea what $CALL does, but flagging right below six year highs is a good set up.


A holdover from last week’s list.  I was looking for sideways action in $FB and we got it.  Two inside bars right at support/resistance level provides a great risk/reward ratio.


$LF broke the 200ma, bounced, and now is right below it again.  A break of the small trendline is a short.

A mini consolidation area just above resistance is setting a good risk/reward setup in $MRGE.


$PZZI is a pizza stock. Okay, whatever.  Double bottom, a break of resistance, and then a consolidation in a flag-ish pattern has my interested.


Another flag right below the highest pivot point in the last year in $RDN has my attention.


$YELP is another holdover from last week.  The little “hook” on the “W” pattern is good, and increases the chances the stock breaks.

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  • carl_sf

    what’s your approach to these set ups when the market tanks — do you wait for the overall market to stabilize & re-examine these stocks, or start from scratch with new list ?

    • I have list of almost 1K stocks that I go through each week, and I try to pull out 15-20 potential set ups for the week. If a stock fails or breaks the pattern, they just go back into the main list and then if they set back up, I will flag them the next time when I do my weekly scan.

  • Joseywalesrules

    Why all longs? No short set-ups or just a long bias

    • There’s a short in there on $LF