How To Trade Like A Gentleman

In tape like this it’s best to be on your best behavior and start trading like a gentleman. Care to make any big bets in either direction? But of course – please go ahead – you first!! I’ll be right behind you – (cough cough). Mom would be so proud – if I ever manage to track down that woman. Seriously now,  as the VIX is heading toward the 13 mark now I am greatly limiting my exposure. I did manage to dig up a whole laundry list of promising symbols but I’ll be taking on only very small position sizes in the coming days.

On the E-Mini side we now have a nice spike which may be followed by an inside day – assuming we close below 1460.5 today. I would love to see that happen, in particular if it would be followed by an short trigger tomorrow. Of course nobody is asking me – for good reason.

My FX charts are still a mess (thanks TOS!! – I sweat bullets every time they announce a new release), so let’s sling a few stock symbols, shall we? Here’s AMZN, which also happens to paint an inside day. You know what to do – if not please check the cheat sheet.

AZO – that used to be one of the most stubborn climbers I have ever seen – until about last April. Loved to to ride this one for months on end. Anyway, right now it’s pushing into possible resistance and I’m short with a stop above the 25-day SMA. If it pops above I’ll reverse my position.

CCJ – great setup here right below the daily NLBL – I’m short right now and will add positions if it drops below the 25-day SMA – wouldn’t that be a shame? 😉

Quite a bit more where that came from – please step into my evil lair:
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CF – I’m long with a stop below the 100-day SMA. You may want to keep an eye on that 25-hour for a more fine tuned approach to managing your stop – assuming it gets out of the gate.

DECK – great great setup – long with a stop below the 100-day SMA. You may want to give a bit of room as the 25-day is right below. Also, the 25-hour seems to be getting traction and I’d love to see this one climb it. One of today’s favorites.

DUST – another beauty – long here with a sto below the 100-hour SMA. If it holds then we should fulfill the 100-day SMA long setup.

Inside day on FSLR – nice one!

Not to be outdone – double inside day on GRMN – I love it. Only caveat is the NLBL on the downside – assuming we breach that way. I’d prefer to see it push long but with the E-Mini and the VIX being where they are I don’t want to be directionally biased. Unfortunately the easy setup is not always what we get.

KO – coca cola – well, I’m short the sweet stuff with a stop above the now dropping 100-day SMA. IF she pops above it I’d happy follow along as there’s nothing but air above and 38 has been a show stopper for months now.

LULU looks like a nice long here – assuming the old gal holds the 100-day SMA. Lulu is the kind of name you’d imagine spray painted on an old B-52, don’t you think? 😉

The male chauvinist pig is running into a c..k block as presented by the 100-day SMA, the 25-day SMA, and a daily NLBL. I’m short here but am wearing a hat.

NLFX – perfect inside day setup – come to daddy!

SHLD – I grabbed an early long here via the 25-hour SMA which just crossed the 100-hour. If the former holds then she should lead to a 25-day SMA long signal. Again, this is an early entry and you can wait for the daily to trigger if you want to be conservative. Or grab a short here right now with a stop above the 25-day SMA. Many ways to skin this puppy.

TIVO – I grabbed a long position season pass here – the failure of the hourly SMAs worry me a little but I simply put my stop below the daily SMA and called it a day.

ZNGA – not exactly a mover but it’s bumping against its 100-day SMA. Short right now with a stop above.

Here’s crude again – I know! Yesterday’s long setup was shot to smithereens and I’m trying this again with a stop below today’s lows. Tricky bugger this one! The perfect entry would have been at the SMA but I missed that one so now I deserve to suffer.

Finally natgas – bumping against its 100-hour SMA. Could be a last kiss goodbye play on the daily. Anyway, I’m short right with a stop above. A tiny position I must concede (natgas scares me!!).

Have fun and keep it clean – your stops are your stops, no ifs and no buts.

Cheers,