So it is the start of a new week and new opportunities to make some cash, because I can't sling the crack rock and my jumper is just not up to NBA standards.
So here is your weekly list of trades to fade me on!
BBBB- BBBB has broken its trendline, the MACD is rolling back over to negative numbers and the divergence on the MACD shows weakness. I am looking to short this stock. Oh yeah and I use Blackboard and it stinks!
ACC-Sticking with the college theme, this looks like a good buy here. It just completed a bear flag pattern and there is a lot of support around 15, you have to go back to 04-05 but its there. I will be Buying
ERTS- I am just watching this lil' fella for now. There is support, but I would like to see it break out of the triangle, and over the 20MA with some volume. I am waiting and watching.
HME- Here is a REIT, crazy! But I like the price action, it dipped below its support on Friday but finished the day up and today formed a bullish engulfing pattern. I would've liked to see more volume, so I am going to watch and take a small position. I am buying
BRE- Another REIT! Similar price action, BRE bounced off support the past couple of days and today made higher high and lower low. I am waiting and watching
ASCA-Here is one I am watching, it is showing some weakness. It failed to close above its 20 and 50 MA, its nearing the bottom of triangle and upward trendline. So I am waiting and watching this one.
I sold my TLT position today, I don't like the action in $TNX. I was hoping for more of a flight to safety as this market moved down. My PTRY short is working out very nice! Shout out to Mr. Tim Knight for that trade.
The market was down today, yet oil and fin's were up. So there is still some weakness with this market. I don't think its good to short at these levels though, so I am looking at individual stocks.
