Sunday, July 14, 2013

7.14.2013 Chart Set up - Bull Run not only in Spain

There are soooo many setups it took me twice as long this week to finish my research.  What a huge move, mainly because Uncle Ben reassured investors (doesn't mean much really) and WFC and JPM reported decent earnings.  Earnings will be key to keep this rally going.

Biotech (IBB) had a crazy move on Friday which I couldn't figure out why.  Possibly high risk on play?  And a lot of short squeezes on the miners/metals (GLD).  Many signs are pointing to higher prices.  I saw a lot of setups for Broadcasting/CATV, banks/money centers/regional, credit cards.  I always get uneasy when all I see are long set ups but really there weren't any decent short opportunities besides ORCL.  Maybe this is the sign but all the bears have been getting their ass handed to them. Manage your risk and trade them well.

Please follow me on Stocktwits or Twitter @nexttrade1122.  Also if you make take on any of my trade ideas please let me know if it helps.  Thanks

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