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Jeff Pierce
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I’m a swing trader of momentum stocks with a holding period of anywhere from a few hours to a few months. I run a number of screens to locate the strongest/weakest stocks out there, using technical analysis to determine my entries and exits. Trying to calculate the intrinsic value of stocks in... More
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tradewithZEN
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zentrader.ca
  • In The Face Of Uncertainty Fear 4 comments
    Oct 23, 2013 10:11 PM | about stocks: PXD, CXO, CLR

    By Harlan Pyan

    The following is an excerpt from October 23rd's premium update at All About Trends. Enjoy a free 15 day trial to receive daily stock picks, market analysis, & complete trading plan. Promo code: zen.

    We hope by now you have seen our "Change In Trends" revisited report. If not make sure you check your email as there is a wealth of information there for those who are interested in managing trend risk from a "What To Watch Out For" if long and a "What To Watch For" perspective when wanting to short.

    Remember how we've been using the phrase "In the Face Of Uncertainty Fear" a lot? Remember how we talked about the low risk entry points were actually in the face of uncertainty fear all when nobody wanted stocks and was fearful? That report shows all that quite clear. Now what we want you to do today is look at that report again and look at all the peaks. Think about how you would have felt if you were long all of them as they were in "Sky's The Limit" emotional territory. Everyone feeling pretty smug emotionally about that time right? Now apply the "In The Face Of Uncertainty Fear" to the short side of the equation. Surely Shorting those peaks we definitely In The Face Of Fear with having to have nerves of steel. BUT much like the ideal time to go long was in the face of uncertainty fear the same applies to the short side as you can now see.

    Know what they both have in common? Two things: FEAR and key points to take a trade. How many times have we talked about managing ones emotions around here and fear IS an emotion.

    Welcome to the world of emotional opposites in the stock market. Folks its always this way. So going forward take this information and the special report information and store it.

    So this leads us to? Now that everyone is no longer feeling smug about recent shake and bake shake out highs. Take a look at the charts of the names below because its still a market of stocks and money stays in the market but rotates around.

    PXD

    (click to enlarge)

    CXO

    (click to enlarge)

    CLR

    (click to enlarge)

    See what's happening to these names? They are all doing what we call "Grand Slamming" to the 50 day. Given these are leaders in their space there is a good possibility that supports and the 50 day get defended. In other words? With those three names get ready on the long side.

    As for the indexes? Still nowhere near a serious support level. Expect more whipsaws and backing and filling.

    (click to enlarge)

    (click to enlarge)

    Again, expect whipsaws while the markets decide whether they are going to digest this move via time or price. We'll keep looking for names with structure we don't have to chase here for the time being and when we see names we are in give an opportunity to lock gains along the way we'll use the whipsaw chop fest to do so over the coming days.

    The following is an excerpt from October 23rd's premium update at All About Trends. Enjoy a free 15 day trial to receive daily stock picks, market analysis, & complete trading plan. Promo code: zen.

    Themes: Technical Analysis Stocks: PXD, CXO, CLR
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Comments (4)
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  • susieq9111
    , contributor
    Comments (5) | Send Message
     
    I am hanging on to PXD for the long haul since it is just a great stock and has ALL the great growth that is like the GOLD RUSH of 1849 only it is here today and I will stay!!! Once in a lifetime to get my retirement funds UP!
    24 Oct 2013, 11:53 AM Reply Like
  • Jeff Pierce
    , contributor
    Comments (942) | Send Message
     
    Author’s reply » Another strong day today for your retirement!
    24 Oct 2013, 07:50 PM Reply Like
  • Jeff Pierce
    , contributor
    Comments (942) | Send Message
     
    Author’s reply » Here is a trading tool to let you know when the trend is tiring. http://bit.ly/1a3Hqbt
    24 Oct 2013, 07:52 PM Reply Like
  • CLWISE
    , contributor
    Comments (4) | Send Message
     
    What is the talk on gmxrq?
    25 Oct 2013, 02:58 PM Reply Like
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