Seeking Alpha

Pro Stock Pickers'  Instablog

Pro Stock Pickers
39 Followers
109 Following
Send Message
We focus on trading strategies that have historically given traders a significant edge when it comes to investing in the stock market. We have worked under and have been trained by some of the top investors of the past 25 years including WILLIAM O’NEIL(bestselling author and founder of... More
My company:
Global Chart Analysis
My blog:
Better Stock Entries
  • Stock Trading Plan For Thursday 0 comments
    Dec 30, 2010 2:22 AM | about stocks: NFLX, MOS, CSTR, ATPG
    Market Confirmation: Market In Confirmed Uptrend
     
    Short Term Action: (Red Alert for longs) Buying on pullbacks but too stretched to the upside to enter here (Good time to take profits) Light volume drift upward to overbought levels can make for an ugly pullback early in January with just average volume. Prepare for a pullback.

    To view this entire report go to www.betterstockentries.com
     
    For 2011 we will be adding a couple important enhancements to our nightly reports.

    Not only is it critical to be in the right stocks at the right time but when you enter into a high probability stock setup and the major indices are ready to pop as well, then you can really get some big moves with lowered risk.
     
    Going forward we will be posting our normal stock setups and will also be indicating whether we have the market winds at our backs. Short Term Indicators will be: A Green Flag for a safer time to get long, A yellow flag for neutral and a Red Flag when we are overdue for a pullback and initiating any new longs is very dangerous. As our readers know, we have been the first to point out every top and bottom over the past 3 years.  We were taking profits before major selloffs and buying again before any other services saw a bottom.
     
    We post stocks when they have a high probability to make a big move over a short period of time but one can now choose to be more or less conservative with their trading by choosing to trade only when the market is ready to pop along with a stock setup or to take all of the high probability trades whether the market is ready to move in the same direction or not.

    Like we mentioned it is not a great time to be entering new positions at this point in the market. Despite this potentially deadly drift higher, many of the leading names have continued to selloff on light volume as well. Will these former favorites find support and rally back or will higher volume show up next week and slam these names back down into longer term support levels. If the latter occurs we could see a lot of pain in these stocks. LF was stopped out today with a loss and NFLX and CSTR reversed to trade lower on the day. We may decide to take small losses versus flipping a coin and hoping for these names to bounce.
    CSTR

    NFLX

    We did however get a couple nice moves in ATPG up 6.23%

    And MOS is finally moving out closing up 4.7% higher

    NEW SETUPS
    No new setups for Thursday.

     

    Thanks,

    www.globalchartanalysis.com




    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.
    Stocks: NFLX, MOS, CSTR, ATPG
Back To Pro Stock Pickers' Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Full index of posts »
Latest Followers

StockTalks

  • NVDA is still running and up 36% from our Oct 13 entry point. Could hit $18 area but will most likely take a breather there
    Dec 7, 2010
  • Liking our DIN setup from this morning. Will look to lock in a quick 2 points on 1/2 positions and move our stops to breakeven to let it run
    Dec 7, 2010
More »

Latest Comments


Most Commented
Posts by Themes
@es, Airport Security, BANKING, bearish patterns, big movers, breakdown, Chart Analysis, Charts, charts, Close, Close Positions, commodities, commodity, daytrading, debt, earnings, emini, etf, euro, eurusd, fed, Fed Meeting, financial, FINANCIAL, Fundamentals, gaming, Gold, gold, green, growth, Housing, Indices, industrial, internet, Jim Cramer, Leaders, market, MARKET, market , Market Analysis, market direction, Market Trading, MGM, mining, movers, Nasdaq, nasdaq, oil, residential, resistance,
Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.