Kick The Can Again

I'm disappointed they didn't raise rates. I'm not surprised though. I should remember that you can't expect the FED to ever do the right thing. Or even know what is really going on. I remember Bernanke would hold press conferences and be adamant about the bottom in housing and the strength of the economy. That was in early 2008! I sold a little over half of STRP and all of TRCH. I got a bad exit on TRCH at 2.22 but still made +.05 a share gain and ok partial sell of STRP at 35.47. I almost bought some calls on GDX. Seems to be the only thing strong along with TLT. Forgot in the video the USD looks very bearish here.

Recap Of Trades

I stopped out of UA at 100 a share. STRP tanked nicely and I'm still short from 37.91 up about 9% now. I bought TRCH at 2.17 and it ran all the way to 2.44!It closed up about 8% so I'm up on that one to. Looking to lock in profit on both today. STRP and TRCH were two of my favorite setups. A spike run above the upper Bollinger band and a bull triangle.

TBT Still Good Idea

Long Watch TRCH

Uploading my latest video is taking longer than anticipated. I like TBT as a long-term position trade on a FED rate hike. TRCH is a good triangle that just broke out here. Good volume too. Long biased!

STRP Position Trades, Commentary

In this trading video I talk about my STRP short. I also analyze natural gas. I talk about my day trading ideas for the FED announcement and the next direction of the overall market.

Video Watchlist

My First Video Blog Post

Enlarge video to full screen and turn to HD quality to see it clearly.

Under Armour UA

UA looks like the next NFLX bear flag about to break. UA is just as rich on the valuations. UA has a 90 PE and trades at 6 times sales. I'm going to short it on a breakdown below 95. Technically it looks like a rounding top formation. I usually don't trade these big stocks but the 10 day average day range is 4%. So odds are it will move 4% or much more on a volatile day.

Two Shorts

BBG and CLNE are short biased watches. CLNE it looks the best for a short. Sweet bear flag

NFLX Short

I shorted NFLX at 116 and covered at 110. Crude oil looks good for a short now. ACI probably has a lot more downside too. I'm still watching nat gas after this triangle formation. It's really boring and doesn't seem to want to go anywhere. I cancelled my stop order to short nat gas.

Monday 31st

I looked through about 40 oil and gas stocks charts looking for ones bottoming out. I wasn't crazy about any setups. REXX looks like it could run this week. Others are either looking overbought already or not bottoming even with oil up 19% in 3 days. They're just messy. The exception is one or two below I will be watching. Oil itself looks like the better vehicle. Enough on that. This natural gas trust HGT probably had the best technicals. It has a 15% dividend yield to.

I usually don't pay much attention to large and mega-cap stocks but with the volatility and clean charts I'm watching NFLX and AMZN. They're both a trading range breakdown that is testing the bottom of the trading range. Technically they should go lower from here. I like these short biased. Here's Amazon AMZN below. Testing that red line of range support and not much buy volume below on this rebound. It's very weak at the moment. Overbought on RSI 2 is just a confirmation of the range test.

Next is NFLX. Same thing.

Next is a great short setup with ACI. The picture says a thousand words. From $1 a share to $8 and going. Sure it was probably undervalued at $1 but it will fall at some point this week. Maybe Monday. Upper Bollinger band shows it is way above it in the second pick below.

MPO and EOX are momo watches to.

Watchlist Coming

We got the follow through in crude oil I talked about Thursday. Oil had another run day Friday. Just looking at the S&P 500, Dow and Nasdaq it looks like a bear flag.

I'm going to run through a lot of scans as always this weekend. I will have a watchlist up before the US market opens on Monday. If you check the site for watchlists check in 9am to 9:30am eastern US roughly. Same for any other day during the week. If you get emails I'm not sure if there is a lag or not. There is usually a slight lag for me. If I don't see anything good enough for a setup I don't post anything here or on Twitter. Sometimes the setups all come at once, I have to much going on or I notice things during market hours. In that case I always have posted them on my Twitter .