Channel Guy Trader: Stock Market Technical Analysis for Ending Day 12/07/09

Hello Traders, today was a pretty light day of trading as the market did have some opportunities, but you had to make sure you were trading in the right sector. For example, the stocks that were in play today were the solar stocks as most of them closed near their highs (STP, SOLF, CSIQ, and SPWRA). As they were strong in the a.m they provided good opportunities to buy on dips intraday and that is the name of the game folks. Buy the strong stocks on dips and short the weak stocks on rips. Energy remained weak today as the USO is sitting on a crucial level right now that can send it to the lower 36 range and the financials are still being shorted on whatever strength they have been trying to gain with the XLF closing near lows. The dollar chart has played out lovely with our trend lines that we have been following for quite some time now. The dollar is currently at a double resistance area from previous support now resistance and also the trend line resistance. I have posted the charts below so you can see how the markets are sitting on critical levels. The nasdaq looks pretty weak, but some sectors in the nasdaq look pretty good like the data storage sector, software, and Internet stocks.I will have my top 5 strong stocks and weak stocks posted in the A.M. so be sure to comeback and check them out. Follow me on twitter please @ askchrishetrade and my firms twitter were we also put updates @ protrades.


$USD Daily





SPY Daily


QQQQ Daily




USO Daily





XLF Daily

Channel Guy Trader: Intraday Stock Analysis for 12/07/09

4:47 pm

Great trading today guys!!! We were not able to get the newsletter out this morning, but I did try to put some of the stocks that we had on our radar in the afternoon so that you could have seen if they were buy on dip candidates into the close. I will have some market analysis posted later tonight on the blog. Have a great day. Email me if you our interested in receiving the newsletter!!

1:19 pm

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12:03 pm

I didn't get to put any stock charts up ladies and gents, but what I do every night is look for my 5 weak stocks and 5 strong stocks. So If I never get a chance to post the charts I will just list them out. This A.M on the radar I had:

Strong- CNI, DISH, EMC, STX, NTAP, MET, BBT, CSX, CY, BRCM, PPG, CA
Weak- JRCC, MEE, CNX, LNCR, NXY, NE

Idea as you guys pretty much should know is to short the weak stocks on market resistance or straight sell off and buy strong stocks on market push up or market support. For example, coal stocks this a.m were a short on the push up as the sector is weak and provided good entry for shorts. You always want to try and pay attention to which stocks on your list are not pushing up with market or down with market. That will be key for the afternoon trading session.Will be back after lunch with some more stuff I see. GL

11:14 am

We have had Internet problems for the past two days, but have it up and running finally. Contact me if you are interested in receiving our newsletter in the A.M. It is free of charge and we usually have a couple of good plays that works out right at the open.

Channel Guy Trader: Weekend Thoughts

Hi Traders, hope you guys are enjoying your weekend thus far. Today I just wanted to discuss a couple things that I’ve had on my mind regarding the blog and then just some trading thoughts. So let’s start the discussion off with the blog information going forward. Starting next week I am going to try and be more active with posting trade ideas on the twitter (Protrades) and intraday charts of stock opportunities on the blog, so if you are not following us on twitter please add us. I still have the askchrishetrade twitter, but I am going to start using the twitter account for the firm. I want to make this blog a very powerful tool for other traders to use and benefit from.

Now let’s discuss this week’s market action for I know it has been a tough tape to trade. My bias on the market is still to the long side as those of you that have been watching the videos have seen that we still remain in our upward channel. We are now in the process of trying to break out of this sideways base consolidation we have traded in, but the non believers are not making it easy. Don’t get me wrong, I play what the market gives me so I am not a Permabull or Permabear, but I really just like there to be good action on the tape. Friday’s action was a perfect example of good action on the tape because the market gave you plenty of opportunities to trade a stock in both directions with decent range. The sell off on Thursdays close with the gap up on Friday was in the cards for me though. I just had that gut feeling that the economic news was going to surprise a lot of people and catch most off guard and that’s why I was long positions into the close.

There is definitely sector rotation going on right now, as most are trying to position themselves ahead of others for sectors that are going to be in play starting in the New Year. Some sectors that you can tell are definitely showing strength is the semiconductors and utilities. If you put both together I think it makes sense because if the economy is recovering and starting to show signs of growth these are sectors that will benefit from it. While these are just two sectors that I see showing strength, there are others out there. Some of the bank stock charts are starting to look from bearish to bullish and that is what is giving me a gut feeling that we are going to try and move higher. As we know the financials and energy stocks are the two sectors that have been keeping this market from getting that extra juice higher. So if the banks to a 360 and oil can stop drifting lower and stabilize we will have a catalyst.

The dollar move is putting some pressure on the market, but there are still a lot of people who are bearish on the dollar, so I am going to see how far this goes. If the commodities can hold base and not sell off crazy with this upward pressure on the markets, then I think that will be a good sign for those looking for this market to go higher. I will have some charts posted later as I am heading out to my Barnes and nobles spot to look for some single ladies looking sexy drinking coffee and looking over the financial newspapers and go over my journal.

** I will have some charts posted later on tonight. Be sure to tell your buddies about my blog, YouTube channel ( askchrishetrades), and Twitter ( ProTrades) **

Channel Guy Trader: Intraday analysis 12/03/09

8:35 am

Q3 Productivity and Costs (2nd estimate): +8.1% vs. +8.5% expected, +9.5% prior. Unit labor costs -2.5% vs. -4.2% expected, -5.2% prior.

Initial Jobless Claims: -5K to 457K vs. 485K expected. Continuing claims +28K to 5,465,000.

Channel Guy Trader: Stock Market Technical Analysis for Ending Day 12/02/09

Sorry I couldn't get the video up yesterday folks!!

Channel Guy Trader: Video upload error so will be posted in the A.M

I left my system uploading the video on the office CPU, only to come home and see that I accidentally uploaded yesterdays video, so i am going to upload the video tomorrow in the A.M if all goes well. Sorry folks!!

Channel Guy Trader: Who is the man with the master plan on the agriculture jam ( YONG, CGA )

Alright folks we put out an alert on the agriculture sector right at the beginning of signs that they were about to start moving. Actually, I told you all that they had a nice move, however that I felt they could get more follow through and like I love to say folks “That’s Happened ". One of the china agriculture stocks that I liked that you had to be patient with because it did everything we expect stocks to do( Back test trend line) has a nice break today and is trading higher afterhours. I expect a gap and go in this one, but we will have to see so I took a small overnight position in it in the fund account. Here is the analysis that was shown in the video and it was before the wedge breakout.

YONG DAILY