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A Recent Sample Of Dave
Landry's
Swing
Trading Alert Service
Thursday, 27 October 2005
INDICATORS
ACTION
DATE
TRIN Reversals None
10/26/05
OSS None
10/26/05
CVR-III Modified None
10/26/05
Multiple CVR's None
10/26/05
Commentary:
The market continues to have trouble following through. This action keeps the S&P in a low-level trading range. Wait for this range to be broken before looking to take action.
Sector Action
STRONGEST: Semis-Memory Chips, Internet,Drugs-Generic,Broker/Dealer (less Regional), Transportation-Air & Freight
WEAKEST: Retail-Music&Video, Durables-Recreational Goods, Semis-PCBs, Homebuilders, Computer Peripherals, Investment Brokerage-Regional, Metals & Mining (especially Non-Metallic), Energies, REITS, HS-Home Health, UtilitiesCommentary:
Banks(*BKX,RKH) turned back up. This action puts them back in transition mode. However, wait for additional confirmation before getting too excited here. Biotech (*BTK,BBH,IBB,CRXL,MATK) continued lower after trading higher. This action has it stalling after breaking out to multi-month highs. Broker/Dealer (*XBD,LEH) ended lower after trading higher. This action has keeps it stalling short of its old highs. Continue to wait to see if it can break out past those highs before looking to position here. Major Drugs (*DRG,PPH,AGN) ended lower. This action has them closing at multi-month lows and it keeps them in an accelerated downtrend. Gold (XAU,HUI, GLD) sold off hard. This action keeps its recent rollover intact. Metals & Mining (MTL,OS,POT,TS,TXI) ended lower. Once again, they still look like they have the potential to resume their downtrend out of a pullback. Internet (*DOT, *IIX,HHH, IAH,BDH) ended lower. This action keeps it stalling short of its hold highs. Continue to wait to see if it can break out to new highs before getting too excited here. Energies (OIH,XLE,APA, BPT,NBL,STO,TSO) tailed higher but reversed to close poorly an in the minus column. This action suggests its downtrend remains intact (and it keeps it set up as a pullback). Continue watching for new setups here. Major Oils (*XOI,BP,COP,XOM) ended lower after tailing higher. It looks poised to resume its slide out of a Witch Hat-like pullback. Retail (RTH,*RLX,JCP,TGT) ended slightly lower. This action keeps it in a low level base. Wait for it to break out before looking to position here. Software (*GSO) tailed to multi-month highs but reversed to close poorly. This action has it stalling at its old highs. Continue to avoid trades here. Semis (*SOX, SMH) ended lower. So far, they still look poised to resume their downtrend out of a pullback. Telecom (*XTC, TTH,IYZ) ended lower after trading higher. They still look like they have the potential to resume their downtrend out of a pullback. Other: REITS(CBL, CLI,VNO) ended lower. They appear to be attempting to resume their longer-term downtrend out of their sideways trading range. Utilities (EXC,PEG) ended lower. Most areas look poised to resume their downtrends out of pullbacks.
Stock Setups
Symbol NBL-Sell Short Name Noble Energy Signal Pullback Entry 38.60 Protective Stop 40.60 Initial Profit Target 36.60 Position Size 100% Volatility Factor 1 Commentary:
On Wednesday, on the short side, VNO moved .94 in our favor. POT moved 2.13 in our favor. TXU triggered but reversed to close .80 above the entry. NBL did not trigger but it still looks like it has potential.There were very few meaningful setups tonight. This makes sense based on the trading range of the S&P. I only wrote down 3: NBL,CVX, TXU.
Note: The 2 Point Gap Rule: Any recommendations that open 2 points or more above its entry price (for buys) or 2 points or more below its entry price (for short sales) should be ignored for the day. Please note that entering a stock on a gap opening increases your potential for loss. Trade volatile stocks with caution. Reminder…a signal is not valid unless it trades at or above the entry price for buys and at or below the entry price for short sales.
Game Plan
Once again, focus on the short side in areas that can trade independently of the indices.
VNO-Short on 10/19/05 from around 80. Initial profit target 77 (adjusted). Lower your protective stop to 82.20.
POT-Short on 10/25/05 from around 85.80. Initial profit target 81.80. Lower your stop to 88.60.
TXU-Short on 10/26/05 from around 94. Initial profit target 90. Maintain your protective stop at 98.
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