Notes for the day:
Lets look through the past picks and see if any of the setups are still valid. Chances are many remain so…
Long
NEM, bull flag building – Golds may do nothing until tomorrows TIC data comes out. ABX triggered and pulled back Friday – it too can be watched with a long trigger/alert at Friday or the two day high.
DIA (also SPY, QQQQ) – swing traders should still monitor all the major index ETFs for long opportunities off the daily charts – if price firms, it will be obvious long before price hits the trigger.
IBM triggers the bear flag we’ve been following, short, last week – on this first day following only we should stalk a long above Friday’s high. This is a setup called a Bear Flag Trigger Failure and often leads to a good long swing trade for at least a day or two if triggered. One feature of the trade setup is that the entry trigger is less likely to be hit
CLS – bull flag – getting a little long in the tooth now at 5 bars.
05.03.14 09:28 #