Here are some potential bullish and bearish setups:
[[AA]] – buy at 10.50-10.70. Stop below 10.30. Target 15.00. If it gaps up, wait for a pullback. If you are stopped out, this means that the stock has broken supportive trend line and is a good short candidate. In fact most of the stocks in today’s market are with the same characteristics – sooner or later they will break one way or the other.
[[AAPL]] – buy above 94.00. Stop below 89.00. Target 110.00
[[MT]] – place limit short at ~30.00. Trigger only with negative MACD divergence. Tight stop and target of 22-23
Gold and gold mining companies are remaining on my short list. Take a look at [[abx]] – we have a confirmed rising wedge here, and the stock is ready to dive lower.
[[brcm]] – was unable to take out previous high – bad sing. Besides the stock formed negative MACD divergence, which makes it an easy short should the rice occur.
[[ccj]] – short at ~20.00. Stop 21.00-22.00. Target 15.00
[[rio]] – is a greatest short of all the miners – the stock faces resistance from a 7-month old trend line and has formed a rising wedge. It is ready to dive. Try to short it as close to 15$, as possible. Stop at 16.00
[[fslr]] – another nice short possibility. Entry point 160-170. Stop 10$. Target 125-130.
[[ldk]] – this chart is came as a surprise for me – a clear BUY. May go to 20.00 from here.
[[pbr]] – shot entry at 28-29 level. Need MACD divergence confirmation though. Possible target 22.00-23.00.
[[exm]] – short at 9.00. Stop 10.00. Target 6.00. A no brainer.
Other shorts include [[rs]], [[ryl]], [[vlo]]. They represent good R/R possibilities and share similar patterns. The trick here is to determine broader market weakness and short these as close to the top as possible.
And finally, AIRLINES. Looking to short [[amr]], [[cal]] and [[dal]] at recent levels. I have already mentioned why they are good shorts, so at these levels they are great shorts. R/R is at least 1/3.
