Category: set-up

Set-ups

This will be an interesting week. It’s all about equities and whether they will further break down out of the Anti set-up. I see a high probability and will enter aggressively short on further deterioration. I don’t see much edge to pick any particular stocks. The weakest group is probably the financials, so not sure yet wether to enter either ES Futures or $XLF ETF.

I will stay on the sidelines for long entries until the big picture resolves into either reversal or oversold, but the situation helps to find the really strongest candidates holding up in their bullish patterns. Further below a few I like most.


$XLF – Anti ShortSPDR - FINANCIAL.png


$EURNZD – Anti LongNZD.png

Maybe a few days to early yet, but seems the only interesting FX set-up at all.


$HE – BO LongHAWAIIAN ELECTRIC INDUSTRIES.png


$CVCO – PB LongCAVCO INDUSTRIES INC..png


$EPAM – PB LongEPAM SYSTEMS INC..png


$DRI – PB LongDARDEN RESTAURANTS INC..png


$PCH – PB LongPOTLATCH CORP..png


$SNI – PB LongSCRIPPS NETWORKS INTERACTIVE.png

 

Set-ups

Maybe first a long needed clarification:

The set-ups I post are based on my current PF and my personal view of what would likely enhance my PF over the upcoming week.

Currently my PF is positioned mostly short with reasonably tight stops. For the beginning of the week I see 2  likely scenarios:

a) further consolidation through time in a tight range near last week’s close and

b) volatility increase and thrust downside to wash out weak longs.

I do not see a strong upside momentum as likely, at least not on Monday/Tuesday. So basically my plan for stocks is to keep my current exposure and potentially add in case the downward momentum for scenario b) develops on especially short-term Anti shorts that could pick up speed in such situation. Said this, for this week’s post I skip the long positions (at the risk of being caught on the wrong foot), although my WL is full of interesting candidates, which may become of interest towards the end of the week.


$COST – Anti ShortCOSTCO WHOLESALE.png


$TSLA – Anti ShortTESLA INC..png


$JWN – PB ShortNORDSTROM INC..png


$ZC – PB ShortZCXXX.PNG

This one would ideally see some consolidation and volatility contraction around the current price level to set up for a HTF (weekly) breakdown.

Set-ups

$DATA – PB LongTABLEAU SOFTWARE INC. CLASS A.png
A little deeper PB than usual. Was counting for a FT candle Friday which did not happen, but set-up seems still attractive.

$UNIT – PB LongUNITI GROUP INC..png
Very good short term momentum.

$AGN – PB LongALLERGAN PLC.png
Tight PB after 2nd trend leg. Is in the middle of a HTF range, i.e. good further upside potential.

$RXN – BO Long
REXNORD CORP..png
Pressure againts upper range with timid breakout and very tight consolidation. Seems poised to break if market conditions are constructive.

$EEP – Anti Short
ENBRIDGE ENERGY L.P. CLASS A.png
Has been couple of weeks on my WL, seems ready to break down further if breaking out low.

$PI – PB ShortIMPINJ INC..png
Breaking below rising trendline


Set-ups

Plenty of excellent Pullback Long set-ups, but I’d rather not add to my PF at his point as the market may be ripe for a correction – not sure whether I am here too much with the consensus, but my statistics do not show at edge at this point so I simply let my long position work out. Still a few candidates on the short side and on the long side to keep an eye on:


$EFX – PB LongEQUIFAX INC..png


$CHTR – PB LongCHARTER COMMUNICATIONS INC..png


$FITB – PB LongFIFTH THIRD BANCORP.png


$IPXL – BO LongIMPAX LABORATORIES INC..png


$PPC – Anti LongPILGRIM S PRIDE.png


$KIM – BO ShortKIMCO REALTY CORP..png


$VRTS – Anti ShortVIRTUS INVESTMENT PARTNERS.png

Set-ups

$RYAM – Anti ShortRAYONIER ADVANCED MATERIALS.png


$ONCE – BO LongSPARK THERAPEUTICS INC..png


$BWA – BO LongBORGWARNER INC..png


$KIM – BO ShortKIMCO REALTY CORP..png


$ISRG – WatchINTUITIVE SURGICAL INC..png

Interesting pattern. Quite a streak of up days directly into ATH. More likely to see price rejection for a few days, then trend resumptionm or simply further sliding along the bands?