Thoughts....

I hope the market is down hard off the open tomorrow. If it is, I will be taking more profits from the shorts I've positioned myself in over the past couple of months and tightening my stops up on what I keep. Although my sentiment for the long term remains bearish, everything I'm seeing tonight screams a bounce is near / probable. I may be not successful, but I'm going to trade the charts accordingly. Remember, if you want to be a pro, you have to trade like a pro. That means you buy support.....you sell resistance......and you take ALL of the subjectivity out of the equation. When the charts are wrong, their wrong. You take the loss and move to the next one.

I've posted a few setups below I've added to my radar heading into tomorrow. If you want to see a full version, simply click on the picture.

Index Watch for September 30, 2008

Setups for September 30, 2008

Thoughts....

It was a very slow week as far as taking on new positions is concerned. Unfortunately, this commonly occurs given my trading style. I've learned (the hard way) that it's absolutely imperative to follow the charts and to not chase or force trades. I became profitable once I realized this simple truth.

I feel I'm well positioned heading into next week as evidenced by the setups I'll be watching. Hopefully, there will be more setups that reach the actionable levels I have marked below.

I'll try to make a new post sometime during the week if time permits. If you have an interest, sign up for the "Email Service" powered by FeedBurner. It's free, and I think the format is better than the blog.

Index Watch for September 29, 2008

Review for Week of September 29, 2008

Breakout Setups

(Click on Symbol for Annotated Chart)

CLXS Collexis Holdings
RURL Rural/Metro
CSCX Cardiac Science
SOAP Soapstone Networks
TRGL Toreador Resources
IPGP IPG Photonics
ITP Intertape Polymer
ODSY Odyssey Healthcare
ACAD Acadia Pharma
OPNT Opnet Technologies
OTIV On Track Innovations
PMTI Palomar Medical Tech
RRR RSC Holdings
DLIA Delia's
CHS Chicos FAS
LEE Lee Enterprises
BSX Boston Scientific
HCKT Hackett Group
USPH U.S. Physical Therapy
VVUS Vivus
FOLD Amicus Therapeutics
CMRG Casual Male Retail
CTCT Constant Contact
LRN K12
MNC Monaco Coach
GHS GateHouse Media
CML Compellent Technologies
AWBC American West Bancorp
ADVNB Advanta
CRA Celera
FIRE Sourcefire
AXL American Axle
BWS Brown Shoe
GLOW GlowPoint

ETF Setups
(Click on Symbol for Annotated Chart)

GLD streetTRACKS Gold Trust
IAU iShares COMEX Gold Trust
QLD Ultra QQQ ProShares
RTH Retail Holders
SKF UltraShort Financials

Short Setups
(Click on Symbol for Annotated Chart)

MYGN Myriad Genetics
ATLS Atlas America
CALM Cal-Maine Foods
MLM Martin Marietta Materials
TFX Teleflex
GMCR Green Mountain Coffee
LO Lorillard
LAZ Lazard
ECA EnCana
ILMN Illumina
VPRT VistaPrint
RAI Reynolds American
OXY Occidental Petroleum
APH Amphenol
FLIR Flir Systems
GAS Nicor
CMTL Comtech Telecommunications
FISV Fiserv
CNQ Canadian Natural Resources
TSCO Tractor Supply
CEPH Cephalon
REGN Regeneron Pharma
CERN Cerner
CHTT Chattem
ABT Abbot Labs
AGN Allergan
AMGN Amgen
PRGO Perrigo
PSYS Psychiatric Solutions
GHDX Genomic Health
IART Integra LifeSciences
CLB Core Labs
ABX Barrick Gold
KGC Kinross Gold
KMB Kimberly Clark
LHCG LHC Group
AIT Applied Industrial Tech
CIG Companhia Energetica de Minas Geras
CKH Seacor
COST Costco
BWLD Buffalo Wild Wings
RAH Ralcorp Holdings
CL Colgate-Palmolive
CLX Clorox
COCO Corinthian Colleges
CBZ Cbiz

Long Setups
(Click on Symbol for Annotated Chart)

SNCR Synchronoss Technologies
JBLU JetBlue Airways
LCC U.S. Airways
AIXD Access Integrated Tech
SPC Spectrum Brands
PCP Precision Castparts
APWR A-Power Energy
NKTR Nektar Therapeutics
EXTR Extreme Networks
LMC Lundin Mining
GM General Motors
CIR Circor International
ZINC Horsehead Holding
ZRAN Zoran
CPST Capston Turbine
EJ E-House (China) Holdings
FREE FreeSeas
BLC Belo A H Corp
ACW Accuride
AATI Advanced Analogic Tech
SPF Standard Pacific

Updated Setups
(Click on Symbol for Annotated Chart)

QCOR Questcor Pharma
PX Praxiar
SLGN Silgan Holdings

Index Watch for September 22, 2008

I'm not really sure what to think about the market. There's a part of me that thinks we've found a bottom, but the other part still sees too many "toppy" chart patterns. Unfortunately, the uncertainty in the market created by the government has created a far from normal situation. However, I still think there are still an abundance of opportunities as illustrated by the setups below. On the other hand, it may not be a bad idea to sit back and focus on ETFs until there is some sort of resolution. Common sense tells me that market calls will continue to be easier to make than individual stock calls. When you trade the market, the risk is reduced 20% since 20% of a stocks movement comes from the stock itself, while the other 80% comes from the market. By trading the market, the 20% stock movement is taken out of the risk equation. To keep things really simple, I would suggest trading the holders (i.e. QQQQ,. QID, SPY, SMH, DIA, etc.), which allow you to trade individual sectors. It's not going to give you as much action, but it will allow you to fine tune your skills to the point where you feel VERY confident about your trading. Remember, trading should be SIMPLE and OBJECTIVE. There is no reason to make it complicated. When I find myself thinking too much, I know I'm not trading properly.

If you want to know when a new post is made, I suggest signing up for the email alerts via FeedBurner.

Review for Week of September 22, 2008

Breakout Setups
(Click on Symbol for Annotated Chart)

FOLD Amicus Therapeutics
PAR 3Par Inc
QCOR Quest Pharma
PMTI Palomar Medical Tech
TRGL Toreodor Resources
AUTH AuthenTec
CTCT Constant Contact
ADVNB Advanta
CML Compellant Tech
MNC Monaco Coach
CRA Celera
AWBC American West Bancorp
LRN K12 Inc
AXL American Axle
BWS Brown Shoe
TRX Tronox
CC Circuit City
OTIV On Track Innovations
ITP Intertape Polymer
OPNT Opnet Technologies
USPH U.S. Physical Therapy
HCKT Hackett Group
VVUS Vivus
ZOLL Zoll Medical
QLTI QLT Inc
GHS GateHouse Media
BSX Boston Scientific
PFFB PFF Bancorp
DSL Downey Financial
PLAB Photronics
CRGN CuraGen
CSCX Cardiac Science
GLOW Glowpoint
FIRE Sourcefire
JCDA Jacada
ARBA Ariba
ARTG Art Technology
ALLI Allion Healthcare
DDUP Data Domain
ACEC ACE*COMM
MDOR Magnum d'Or Resources

ETF Setups

(Click on Symbol for Annotated Chart)

IWM Russell 2000 iShares
SKF UltraShort Financials ProShares
SMH Semiconductor Holders
RTH Retail Holders
DVY DJ Dividend Index iShares

Short Setups
(Click on Symbol for Annotated Chart)

BWLD Buffalo Wild Wings
CNQR Concur Technologies
COCO Corinthian Colleges
MSM Msc Industrial Direct
MVL Marvel Enterprises
ACO Amcol Intl
ARJ Arch Chemicals
SGEN Seattle Genetics
PKE Park Electrochemical
ABX Barrick Gold
KGC Kinross Gold
SMG Scotts Co
BBBB Blackboard
REGN Regeneron Pharma
FLIR Flir Systems
OTEX Open Text
AMZN Amazon
CBRL Cracker Barrel
MA Mastercard
FDX FedEx
CMTL Comtech Telecommunications
CBZ Cbiz
ALGT Allegiant Travel
PTR Petrochina
DGX Quest Diagnostics
HOC Holly Corp
WDFC WD-40
MCK McKesson
AMGN Amgen
CEPH Cephalon
CERN Cerner
CHTT Chattem
ABT Abbot Labs
AGN Allergan
ESRX Express Scripts
PRGO Perrigo
ROCK Gibraltar Steel
PX Praxair
PRU Prudential Financial
PSYS Psychiatric Solutions
IART Integra Life Sciences
IDXX Idexx Labs
GES Guess
SLGN Silgan Holdings
GHDX Genomic Health
GPRO Gen-Probe
GNCMA General Communication
GNK Genco Shipping & Trading
DIS Walt Disney
FMC FMC Corp
CLX Clorox
CMP Compass Minerals
KO Coca Cola
KMB Kimberly Clark
POT Potash
AGU Agrium
TSCO Tractor Supply
AIT Applied Industrial Technologies
CCJ Cameco
EFX Equifax
HPQ Hewlett Packard
JEC Jacobs Engineering
LHCG LHC Group
LH Laboratory Amer Holdings
TEG Integrys Energy

Long Setups
(Click on Symbol for Annotated Chart)

CIEN Ciena
JBL Jabil Circuit
CMOS Credence Systems
LMC Lundin Mining
CNTF China Tech Wireless
ALTH Allos Therapeutics
QBC Cubic Energy

Updated Setups
(Click on Symbol for Annotated Chart)

SPF Standard Pacific
BANR Banner Corp
LRCX Lam Research
BBI Blockbuster
OXY Occidental Petroleum
QLD Ultra QQQ ProShares
MOO Market Vector Agribusiness
EWZ Brazil iShares
DK Delek Holdings
NGAS NGAS Resources
OSIR Osiris Therapeutics
CREE Cree Inc
AMRI Albany Molecular Research
DXD ProShares UltraShort Dow 30
BKE Buckle
TGT Target
CL Colgate Palmolive
APOL Apollo Group
ARO Aeropostale

New Setups for September 18, 2008

Hurricane Ike.....

The review for the weekend was posted early because of the hurricane in Texas. It appears I live directly in the path so I wanted to get a post in before it hit and I had no power. If I'm able, I'll post additional setups before Monday.

Index Watch for September 15, 2008

Review for Week of September 15, 2008

Breakout Setups
(Click on Symbol for Annotated Chart)

AMRI Albany Molecular Research
USPH U.S. Physical Therapy
CSCX Cardiac Science
SPF Standard Pacific
GMKT GMarket
PLAB Photronics
BSX Boston Scientific
OPNT OPNET Technologies
NGA North American Galvanizing & Coatings
PFFB PFF Bancorp
QLTI QLT Inc
TIVO Tivo
ARGN Amerigon
GHS GateHouse Media
CRGN CuraGen
VVUS Vivus
ZOLL Zoll Medical
BANR Banner Corp
EGOV National Information Consortium
FIRE Sourcefire
GLOW Glowpoint
HCKT Hackett Group
PER Perot Systems
DDUP Data Domain
DSL Downey Financial
EGMI Electronic Game Card
HITK Hi-Tech Pharmacal
ARBA Ariba
ARTG Art Technology Group
ALLI Allion Healthcare
SWTX Southwall Technologies
BSDM BSD Medical
DAIO Data I/O
MDOR Magnum d'Or Resources
SFBE Sino Fibre Communications
SIBM Silver Butte Mining
TMBXF Tombstone Exploration

ETF Setups
(Click on Symbol for Annotated Chart)

KBE Spdr KBW Bank Index ETF
RKH Bank Regional Holders
SKF UltraShort Financial ProShares
IYR Real Estate iShares
IWM Russell 2000 iShares
RTH Retail Holders

Short Setups
(Click on Symbol for Annotated Chart)

BBT BB&T Corp
TSCO Tractor Supply
CEPH Cephalon
SMG Scotts Co
MIL Millipore
PG Proctor & Gamble
GAS Nicor
EFX Equifax
AIT Applied Industrial Technologies
BKE Buckle
CERN Cerner
CHTT Chattem
CL Colgate-Palmolive
RAH Ralcorp Holdings
LH Laboratory Amer Holding
CLX Clorox
LHCG LHC Group
ABT Abbot Labs
HCC HCC Insurance Holdings
ROCK Gibraltar Steel
AMGN Amgen
WFC Wells Fargo
GES Guess
JEC Jacobs Engineering
WTNY Whitney Holding
TGT Target
COST Costco Wholesale
KO Coca Cola
DIS Walt Disney
HPQ Hewlett Packard
GNK Genco Shipping
ESRX Express Scripts
GHDX Genomic Health
GNCMA General Communication
APOL Apollo Group
CMP Compass Minerals
ARO Aeropostale
SCHW Charles Schwab
CI Cigna
PRGO Perrigo
KMB Kimberly Clark
LFC China Life Insurance
MFC Manulife Financial
OYOG OYO Geospace
OI Owens Illinois
CKH Seacor Holdings
GPRO Gen-Probe
PSYS Psychiatric Solutions
PX Praxair
IDXX IDEXX Labs
AMR AMR Corp
CAL Continental Airlines
CCJ Cameco
SLGN Silgan Holdings
TEG Integrys Energy
AGN Allergan
PPG PPG Industries
CBE Cooper Industries

Long Setups
(Click on Symbol for Annotated Chart)

PAAS Pan American Silver
BVN Compania de Minas
CIG Companea de Energetica de Minas Geras
LRCX Lam Research
ALTH Allos Therapeutics
LWLG Lightwave Logic
QBC Cubic Energy
EPIQ Epiq Systems
BBI Blockbuster
ACTS Actions Semiconductor
CAMD California Mico Devices

Updated Setups
(Click on Symbol for Annotated Chart)

GEOY GeoEye
OXY Occidental Petroleum
MOO Market Vectors Agribusiness ETF
KOL Market Vectors Coal ETF
DK Delek U.S. Holdings
IART Integra LifeSciences
FISV Fiserv
BEN Franklin Resources

Index Watch for September 8, 2008

Review for Week of September 8, 2008

Breakout Setups
(Click on Symbol for Annotated Chart)

GHS Gatehouse Media
WM Washington Mutual
PFFB PFF Bancorp
AMRI Albany Molecular Research
QLTI QLT Inc.
BANR Banner Corp
TIVO Tivo
ARGN Amerigon
CRGN CuraGen
DK Delek US Holdings
HCKT Hackett Group
PER Perot Systems
HITK Hi-Tech Pharmacal
USPH U.S. Physical Therapy
ZOLL Zoll Medical
VVUS Vivus
OPNT Opnet Technologies
CSCX Cardiac Sciences
ALLI Allion Healthcare
FIRE Sourcefire
SWTX Southwall Technologies
EGMI Electronic Game Card
NCEM Nevada Chemical
MDOR Magnum d'Or Resources
DAIO Data I/O
BSDM BSD Medical

ETF Setups
(Click on Symbol for Annotated Chart)

OIH Oil Services Holders
QLD Ultra QQQ ProShares
RTH Retail Holders
XOP Spdr Oil & Gas Exploration Index
DGP DB Gold Double Long ETN
MOO Market Vectors Agribusiness
KOL Market Vectors Coal
IYR Real Estate iShares
SKF UltraShort Financials ProShares
KBE Spdr KBE Bank Index ETF
RKH Bank Regional Holders
SLX Market Vectors Steel

Short Setups

(Click on Symbol for Annotated Chart)

APOL Apollo Group
COST Costco Wholesale
CLX Clorox
PRU Prudential Financial
GEOY GeoEye
GNCMA General Communication
CEPH Cephalon
HCC HCC Insurance Holdings
SCHW Charles Schwab
ARO Aeropostale
CBE Cooper Industries
PPG PPG Industries
BAC Bank of America
AMR AMR Corp.
CAL Continental Airlines
PLCE Childrens Place
ABT Abbot Labs
OYOG OYO Geospace
FISV Fiserv
AGN Allergan
CHTT Chattem
AMGN Amgen
PRGO Perrigo
LBTYA Liberty Global
BK Bank of New York Mellon
BEN Franklin Resources
CL Colgate-Palmolive
AMX America Movil S.A.
PSYS Psychiatric Solutions
GHDX Genomic Health
GPRO Gen-Probe
IDXX IDEXX Labs
SLGN Silgan Holdings
WFC Wells Fargo
WTNY Whitney Holding

Long Setups

(Click on Symbol for Annotated Chart)

LRCX Lam Research
PAAS Pan American Silver
SIL Apex Silver Mines
BVN Compania de Minas
CAVM Cavium Networks
OXY Occidental Petroleum
PXD Pioneer Natural Resources
XEC Climarex Energy
MEDX Medarex
ANPI Angiotech Pharma
GM General Motors
ACTS Actions Semiconductor

Updated Setups

(Click on Symbol for Annotated Chart)

DSL Downey Financial
ESPH Echosphere Technologies
MDVN Medivation
NTCT NetScout Systems
OTEX Open Text
SPWR SunPower
IART Integra Life Sciences
TEG Integrys Energy Group
CLHB Clean Harbors
REXX Rex Energy
CIG Comanhia Energetica de Minas Geras
NBR Nabors Industries