Not too bad of a trading session banking on the long side while cutting losses short on our losers.

Technical analysis Day Trading Review :

Stock picks

Technical Analysis Day Trading Review: IPG, MS, LVLT, and AIG from Cameron Fous on Vimeo.

Day Trading Stock Pick #1

LVLT

Was watching this stock along with several other members like semper trader earliar this morning as it was looking strong technically forming a bullish ascending triangle pattern on the intraday chart. Breaking above .90 indicated a likely move to $1/share.

I alerted Black Service members to go long at .90 on the breakout. Price then rallied near 1 where i alerted to sell 1/2 at .99 to lock in some gains as $1/share is a tough area to breach for penny stocks. But when it does it usually results in a quick move to 1.10 to 1.20 /share. Which is still in possible sight for LVLT this week.

I sold the second 1/2 of LVLT at .945 when it broke down the pennant formation and the market was weakening as well.

Technical Analysis :

Day Trading Stock Pick #2

ITU

ITU had another bullish ascending triangle pattern in force with a gap fill in progress that looked like it was on its way to fill on the breakout. I bought at 8.19 on a slight pullback to the 9ema support. Yet with the market weakening the the later 1/2 of the session ITU continued to fall and break down key ascending support areas which lead me to sell at 8.10 for a small 1% loss.

Technical Analysis:

It was about time we caught some negative volatility on this heavily overbought stock yet it was an great call that we covered our position while we were ahead as these stocks are very volatile and rallied strong into the close after its morning drop.

I alerted Black Service members to go short at $12.43 Wednesday afternoon on the breakdown of the intraday support as you can see on the 5 min 5 day chart below. Thursday price sold off on rumors of OPEC cutting production rates putting us in a nice position for our short and momentum in our favor. Global markets then began to sell off after hours placing us in an even better position now for our move into Friday. RJET gapped down largely yet was showing some signs of strength so i took this as a great opportunity for us to cover our position for a solid 11.5% gain in just 2 days.

For real time trade alerts to all of my stocks picks… long and short day trading and swing trading. Sign up for a free trial to Black Service

Technical Analysis:

Holy  guacamole! Is this happening? Am i entering in swing trade? Yes i think i effin am for the first time in a while because this market has been so crazy. But it looks like most market crushing bad news is behind us…. IE multiple banks going bankrupt bla bla stuff like that which weighed heavily on the market. Now it appears that the market could be bottoming and set for at least a short term rally for a few weeks or so, As well new stimulus packages certainly could help.

Take a look at the DOW currently on the 60m chart it made a strong breakout above the descending resistance line of the symmetrical triangle formation and the 13ema looks like its about to cross the 50ema to the upside for the first time in a while.

Technical Analysis:

Small Cap Stock Pick #1 - ????

This stock has collapsed from its highs earliar in the year from around $8/share. Today we saw a notable sign of a possible bottom at price broke out a recent resistance mark to make newer highs of its latest short term trend. Todays move also broke its short term descending trendline. I think its very possible we could see this move to 2.75 - 3 in the near term. I alerted Black Service members to go long at 2.26

Technical analysis :

Small Cap Stock Pick # 2 - ????

This is the first otcbb stock that i have found attractive in quite some time. BB’s used to be so abundant for easy 20-40% trades all the time so im excited to see some stocks moving again on the bulletin boards again. One thing that is quite attractive about this stock is that Legendary investor George Soros has some 10 million shares in this stock so he obviously is speculating that this stock has some solid potential. That along with its extremely bullish stock chart and im sold. I alerted Black Service Memers to go long here at 1.19 Today

Technical Analysis :

Wasn’t my best day for day trading as i was going short in all 3 of these stocks on a bullish day in the market. I was right on all 3 of these stocks to go short but got greedy and didn’t cover my positions quick enough to capitalize on the profits while going short in a bullish market day. I was expecting more weakness in the airline sector as oil was up today and Airlines have rallied so much. So lets take a look at the Day Trades today.

Day Trading stock Pick #1 - YGE

YGE i have actually been interested in a long position yet found a day trading short opportunity early in the morning as price had gapped up. When price broke down the gap support at $6/share i went short at 5.95 and was looking to cover around 5.70… Price dipped to 5.80 yet never fell below that mark. I was forced to cover this position at 6.01 for a small loss

technical analysis:

Day Trading Stock Pick #2 - LCC

I’ve been looking to go short in some airline stocks for the past week or so yet just waiting for the right opportunity. These stocks have had a huge amount of buying pressure yet eventually will have profits taken. I went short in LCC this morning at 7.11 and the position was looking excellent dropping to 6.70/share placing me in a decent winning position. Price then consolidated the rest of the session forcing me to get stopped out of my position at 7.31.

technical analysis

Day Trading Stock Pick #3 - RJET

Same situation here in RJET, went short in the morning and position was looking awesome with no real support until $10/share. The problem with shorting on a bull day in the market is the possibility of short squeezes. The problem is that i was looking at these stocks in a day trading form with the risk/reward of a swing trade. The potential reward is much larger than the risk here as we could be short here with minimal amount of upside risk and a lot of downside potential. Unfortuntely i was looking for continued weakness into the close on airlines but the market continued to rally hardcore into the close giving airlines a strong boost off there intraday selloff bottoms. I covered at 11.55 for a small gain.

technical analysis

All in all today was a decent day… Didn’t lose too much and cut my losses. Could of have a great day tho as i was profitable in all 3 of these positions at one point. All trades had great rewards than risks. Unfortunately the risks had to be cut short as the rewards didn’t work in our favor today… But my mind was in the right place… You need to have attractive risk/reward ratios for every trade you make. Although they don’t always work out.. You cut your losses short and move on. Theres always another day in the stock market. The question is did you survive to make it there, or did you hold onto your stocks as they ate up all your money.