New book by Larry Connors Click here Improve your trading - See how
Andy Swan created and co-founded DaytradeTeam five years ago on a principle of empowering individual stock and options traders with the techniques and analysis methods typically reserved for elite professionals. His expertise in technical analysis and commitment to educating members earned DaytradeTeam a top-ranking among advisory services for several years.
Allegheny Technologies (ATI | Quote | Chart | News | PowerRating) is a very strong company in a strong industry. The stock has rallied very nicely this year, and has followed along a solid trend line for some time now. Recent downside market pressure in most sectors has pulled ATI back to the trend line that has proven effective time after time.
OK, here's the situation. Mindspeed Technologies Inc (MSPD | Quote | Chart | News | PowerRating) has been benefiting off the growth potential that lies within VOIP (Voice Over Internet Protocol). Bulls eat growth stories for breakfast! MSPD formed a nice up trend, then moved into an accelerated up trend. The stock has pulled back to the accelerated trend line, as so many others have in the past few days of weakness, and presents traders with an opportunity for some quick cash.
XM Satellite Radio Holdings (XMSR | Quote | Chart | News | PowerRating) presents a nice intraday shorting opportunity here. The stock was weak throughout the day yesterday and created a nice looking down trend line. The reason I feel this XMSR is a good candidate for a short is simple, it is lacking support. There is minor support at around 22.70 and again at 22.15, but neither of these are significant levels of support.
With a low priced stock like XMSR, you stand to make
substantial profits from a percentage standpoint with small moves. A play on
this stock presents a slightly higher level of risk, but as long as you minimize
losses with a relevant stop you stand to make sizable gains if the stock moves
in your favor.
Happy Trading,
Andy Swan
About TradingMarkets | Contact | Advertise | Careers | Link to Us | Site Map | Help | Terms & Conditions | Privacy Policy | Return Policy | Testimonials | Feedback
The Connors Group, Inc. ("Company") is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. The analysts and employees or affiliates of Company may hold positions in the stocks, currencies or industries discussed here. You understand and acknowledge that there is a very high degree of risk involved in trading securities and/or currencies. The Company, the authors, the publisher, and all affiliates of Company assume no responsibility or liability for your trading and investment results. Factual statements on the Company's website, or in its publications, are made as of the date stated and are subject to change without notice.
It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable or that they will not result in losses. Past results of any individual trader or trading system published by Company are not indicative of future returns by that trader or system, and are not indicative of future returns which be realized by you. In addition, the indicators, strategies, columns, articles and all other features of Company's products (collectively, the "Information") are provided for informational and educational purposes only and should not be construed as investment advice. Examples presented on Company's website are for educational purposes only. Such set-ups are not solicitations of any order to buy or sell. Accordingly, you should not rely solely on the Information in making any investment. Rather, you should use the Information only as a starting point for doing additional independent research in order to allow you to form your own opinion regarding investments. You should always check with your licensed financial advisor and tax advisor to determine the suitability of any investment.
HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN INHERENT LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING AND MAY NOT BE IMPACTED BY BROKERAGE AND OTHER SLIPPAGE FEES. ALSO, SINCE THE TRADES HAVE NOT ACTUALLY BEEN EXECUTED, THE RESULTS MAY HAVE UNDER- OR OVER-COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN.
The Connors Group, Inc.
10 Exchange Place, Suite 1800
Jersey City, NJ 07302
© Copyright 2009 The Connors Group, Inc.
