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ShadowTraderPro Swing Trader 06.09.11
ShadowTrader Swing Trader |
6/8/2011 10:43:29 PM
|ShadowTraderPro Swing Trader for June 9, 2011 |
The ShadowTraderPro Swing Trader is your every morning dose of market reality brought to you from the resident geniuses at ShadowTrader. Each issue contains a full report on the prior day's action, including market internals, technicals, and what sectors were hot and cold. Each issue also includes the ShadowTraderPro Model Portfolio, which updates members on what stock plays STPro is currently engaged in officially, as well as provide a daily list of long and short setups for more self-directed traders and investors.
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Good morning, traders. While waiting for the S&P 500 Index (SPX) to work down to 1250.00, we are busy reviewing weekly charts and making a list of stocks that we would like to be long of when the market turns back higher.
Let's review the chart of Apple, Inc. (AAPL) which is at the top of our list of long play candidates.
A green oval encompasses prior consolidation that took place just under the 320.00 level and the green arrow points to the most recent low after the 320.00 level changed from resistance to support. When the stock touches 320.00, we plan to hit it with a long entry.
The current daily average true range of AAPL is 5.59. Based on this, from yesterday's close, the stock could reach 320.00 in as little as three days.
Under The Hood When we say "under the hood" we mean market internals, ie: what was really happening behind the scenes. ShadowTraders who listen to our daily broadcast every day live on the thinkorswim platform know that all closing figures on the major averages should only be interpreted in the context of market internals. Look for convergences and divergences in the breadth, a/d line, and trin figures below to either confirm or cast doubt on what all those talking heads on TV are telling you.
|Dow Jones Industrial Average||12048.94||-21.87||-0.18% |
|S&P 500 Index||1279.56||-5.38||-0.42% |
|Nasdaq Composite||2675.38||-26.18||-0.97% |
|Nasdaq 100||2252.89||-16.07||-0.71% |
|Russell 2000||788.04||-9.51||-1.19% |
|Spot Gold||1536.20||-7.50||-0.49% |
|Crude Oil||101.06|| 1.88|| 1.90% |
|NYSE Overall Volume||10,125,900K||n/a || 8.34%|
|Nasdaq Overall Volume||2,094,887K||n/a || 12.95%|
|NYSE Breadth||3.13 : 1||Negative|
|Nasdaq Breadth||5.42 : 1||Negative|
|NYSE Breadth Ratio||24.23|
|Nasdaq Breadth Ratio||15.57|
|$VIX||18.79|| 0.72|| || |
Market Profile and ES Pivot Points for Thursday
|Value Area High ||1285.00 |
|Point of Control ||1282.75 |
|Value Area Low ||1279.75 |
|R3 ||1293.83 |
|R2 ||1290.17 |
|R1 ||1283.58 |
|Pivot ||1279.92 |
|S1 ||1273.33 |
|S2 ||1269.67 |
|S3 ||1263.08 |
Pivot points provided by Prodigio RTS. For more information contact: firstname.lastname@example.org
ShadowTrader Sector Trend Scores The ShadowTrader Sector Trend Score matrix is a proprietary method of assigning values to twenty five sectors that are a representative cross-section of the market as a whole. The heat map in the trend score column defines the current strength or weakness of that sector using a proprietary weighting formula. Sectors bolded in green and red are the two sectors that experienced the largest absolute gain and loss in trend score over the prior day. We strongly urge subscribers to read the full explanation of the meaning and calculation of the trend scores in the Swing Trader User's Guide.
Broad market breadth continued it's ugly ways yesterday. 20 of the 25 ShadowTrader Sector Trend Scores moved lower. We expect more of the same in forthcoming days until the broad market finds price support.
Heads Up Up and coming economic and corporate data that may move markets this week:
Today - 06/09/2011
07:00 am EST - BOE Announcement 07:45 am EST - ECB Announcement 08:30 am EST - International Trade 08:30 am EST - Jobless Claims 10:00 am EST - EIA Natural Gas ReportReporting earnings today: NSM, RLD, SJM
Friday - 06/10/2011 08:30 am EST - Import and Export Prices02:00 pm EST - Treasury BudgetReporting earnings today: There are no stocks worth $20 or more trading at a volume greater than 500k.
Monday - 06/13/2011
No economic news currently scheduled. Reporting earnings today: KR
Bulls and Bears This section is for self-directed traders and investors who like to "do it themselves". Every trading day, Bulls and Bears will list long and short equity setups with defined entries and stops. Note: A listing in this section does NOT necessarily mean that the stock will end up as a part of the ShadowTraderPro Model Portfolio. Plays listed here change daily and are not managed or tracked by ShadowTrader unless traded via MyTrade posting.
ShadowTrader Model Portfolio The matrix below shows all current ShadowTrader Pro plays in the Model Portfolio. The Model Portfolio contains only those plays that are sent out in real-time via posting to MyTrade or text message to your phone. Bulls and Bears plays above are not actively managed or tracked. Current open positions are on top, with positions that were closed in the current calendar week on the bottom. Closed positions are moved out of the matrix on Monday mornings and posted in our performance page here.
To get the most out of your subscription and for detailed instructions on how to structure your own portfolio, read our Swing Trader User's Guide
| OPEN POSITIONS - week of 06/05/11 - 06/11/11|
|sym ||dir ||size ||date |
|target ||stop ||status ||mark |
|GLD||long ||125||05/23||148.82|| n/a || n/a ||163.00||148.50|| open ||149.81||0.99||$124||$18,603|
| CLOSED POSITIONS week of 06/05/11 - 06/11/11|
|BIDU||long ||50||06/03||138.43||06/07||132||156.00||131.20||closed ||n/a||(6.43)||($322)||$6,922|
| ||TOTALS:|| 75|| open shares (open capital committed doesn't include closed trades)|| $11,063|
Click here for year to date Model Portfolio Performance - 2011
Click here for Model Portfolio Performance - 2010
Click here for Model Portfolio Performance - 2009
Click here for Model Portfolio Performance - 2008