Stockslinger

It’s summer – you guys are bored  – so let’s mix things up a little. I’ve got a few interesting stock symbols for you all you harcdore rats. We don’t play them often but when we do we usually come out on top.

So put on your sombrero and your poncho (yes, your wife’s favorite linen will do – just cut a whole in it) – strap on that six shooter as it’s time to sling some stock symbols. Let’s start with a quick update on our favorite tech symbol – AAPL:

Why is it our favorite stock symbol? Does the Mole happen to be a secret Apple fan boy? Well, I confess that I have acquired my share of pertinent toys but that’s not the reason. There are always a lot of emotions and opinions swirling around AAPL and that makes for good trading as squeezes are usually pretty extended. Which means that if you get an a good entry you can ride it out for a while.

We got a pretty nice ID entry last week but are now already approaching the upper 100-day BB. So I’ll lighten up a little but will keep a few lottery tickets in the running for a potential push higher.

Caterpillar – double inside day from the looks of it and I would most definitely take a long entry if it presents itself tomorrow. The short side looks a bit more troubled.

Also double inside day on CME – an old favorite of mine (it also likes to trend).

I got more stock symbols for my subs but here’s a quick update on USD/CAD – good entry on the 100-day SMA last week and we are now pushing into the 25-day, so I suggest you lighten up.

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ICE on a roll but is now pulling back via an inside day candle. Let’s see if we get continuation or a real correction here.

ORCL approaching its 100-hour SMA – I would be long on a breach of 32.91. The short side looks a bit too difficult right now – let’s wait until that NLSL expires.

GBP/JPY – I was thinking LKGB here but it may actually push through all that resistance. If it does it’ll be a nice long opportunity.

Crude – the odds are clearly with the bulls right now. Long while that NLBL and the NLBL remain below.

Gold – boring – I know. But worthwhile waiting for. That SMA is swinging up now and I’m waiting for an entry to lift me higher. All good things are worth waiting for. I’ll keep you posted on this one.

Copper now below a NLBL that’s been standing up like a brick wall. Inside day it seems and perhaps that’ll be our opportunity to hitch a ride. However the upside is looking very tough here.

Cheers,