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ShadowTraderPro Swing Trader 02.14.12 $SCCO #stocks #trading #investing
ShadowTrader Swing Trader |
2/13/2012 11:07:04 PM
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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. Southern Copper Corp. (SCCO) is one of two long trade ideas listed in today's Bulls and Bears section. Please observe the chart below.
Over the past two weeks, SCCO has worked it's way back down toward the ascending trendline after putting in the most recent higher-high at 37.27. A touch of the trendline at 32.66 will trigger our alert to enter a long position with a stop one daily average true range measure (ATR Wilder (14)) lower at 31.50.
Our first target for SCCO is the prior high of 37.27 which gives this trade a reward to risk ratio of better than 3:1.
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||12874.04|| 72.81|| 0.57% |
|S&P 500 Index||1351.77|| 9.13|| 0.68% |
|Nasdaq Composite||2931.39|| 27.51|| 0.95% |
|Nasdaq 100||2569.49|| 22.17|| 0.87% |
|Russell 2000||824.81|| 11.48|| 1.41% |
|Spot Gold||1722.10||-1.00||-0.06% |
|Crude Oil||100.91|| 2.24|| 2.27% |
|NYSE Overall Volume||6,826,550K||n/a||-9.03%|
|Nasdaq Overall Volume||1,604,387K||n/a||-9.41%|
|NYSE Breadth||3.33 : 1||positive|
|Nasdaq Breadth||2.59 : 1||positive|
|NYSE Breadth Ratio||76.92|
|Nasdaq Breadth Ratio||72.17|
| Market Profile and Pivot Points for ES and NQ for Tuesday || || |
| How to put value areas and breadth bubbles on your charts - click here ||ES ||NQ |
| Value Area High ||1349.00 ||2569.25 |
| Point of Control ||1348.75 ||2563.00 |
| Value Area Low ||1345.25 ||2559.50 |
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.
21 of 25 ShadowTrader Sectors closed higher yesterday. The broad market could mover higher for at least two more days before reaching overbought conditions.
Up and coming economic and corporate data that may move markets this week: Today- 02/14/2012
Wednesday - 02/15/2012
08:30 am EST - Retail Sales
08:30 am EST - Import and Export Prices
10:00 am EST - Business Inventories
Reporting earnings today: ACC,
Thursday - 02/16/2012
08:30 am EST - Empire State Mfg Survey
09:00 am EST - Treasury International Capital
09.15 am EST - Industiral Production
10:00 am EST - Housing Market Index
10:30 am EST - EIA Petroleum Status Report
02:00 pm EST - FOMC Minutes
Reporting earnings today: A,
08:30 am EST - Housing Starts
08:30 am EST - Jobless Claims
08:30 am EST - Producer Price Index
09:00 am EST - Ben Bernanke Speaks
10:00 am EST - Philadelphia Fed Survey
Reporting earnings today: AAP,
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.
| Symbol ||Trigger Price ||Stop Price ||Notes |
|SCCO ||32.66 ||31.50 ||Please see today's Looking Ahead section |
|OPNT ||29.50-29.00 ||27.40 ||Anticipating revrsal off 6 month lows |
| Symbol ||Trigger Price ||Stop Price ||Notes|
|EMN ||55.21-55.51 ||57.04 ||Relisted - Please see
Monday's Looking Ahead section |
|MSFT ||31.43-31.73 ||32.50 ||Relisted - Potential triple top at 1 year highs |
|TRMB ||52.25-52.75 ||54.05 ||Relisted - Approaching 52 week highs |
|HAR ||52.00-53.00 ||54.05 ||Reversal play at 52 week highs |
ShadowTrader Model Portfolio
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Disclaimer and Waiver of Claims: The ShadowTraderPro Swing Trader is a newsletter service, designed as supplemental material for the ShadowTraderPro Newsletter subscription service and it is not intended to be a stand alone newsletter. The risk of loss in the trading of any securities products can be substantial. The strategies mentioned here are active trading strategies, therefore you should carefully consider whether such trading is suitable for you in light of your personal investment objectives and financial resources. This material is for information purposes only and should not be construed as an offer or solicitation of an offer to buy or sell any securities. Past performance of any trades mentioned never guarantees future results.
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