The Stock/ETF/Commodity Pinbar Thread

Great job. keep up the great work.

IMO, MGLN is an A+ setup for Monday morning.

Thanks again - Bob

Here's a few pins that have come up on my radar. I may follow this up with some charts or analysis if I decide to take any of them.
My pin strength percentage is based on the (high-low) bar size divided by the average bar size of the last 30 bars.

US Stocks

Daily
Ticker : Strength : Comment
AEO : 83% : Resistance off gap

Weekly
Ticker : Strength : Comment
BCE : 105% : Resistance off 150EMA
CAH : 59% : Trendline

BCE

Pros:
Good formation, pin size > 100
150EMA
27.00 round number
27.00 historical PPZ
Increasing volume

Cons:
Counter trend
Nose could stick out a bit further


Conclusion:
I probably wont play this one. I've set alerts on it to see how the week pans out and what things look like when it triggers and I'll make my assessment at that point.

So I didn't do my scan yesterday - Sorry about that. Here is today's... I did this really quick so they might not be at great points on the chart...

Bullish:
COST - Costco - Right around the 50-day MA
CERN - Cerner - Oddly enough, I used to be long this until about 3wks ago
GPN - Global Payments
ENDP - Endo Pharma
JKHY - Jack Henry & Assoc
THS - TreeHouse Foods

Bearish:
HCN - Health Care REIT
ROL - Rollins
INT - World Fuel Services
HCSG - Healthcare Services Group
DIOD - Diodes
CFX - Colfax Corp
ZRAN - Zoran Corp
SRI - Stone Ridge Inc.

Perhaps some charts later.

The BULLS:

Everyone Loves Costco:
http://i437.photobucket.com/albums/q...cost-12809.png

My Old favorite, Cerner (Healthcare IT field, a nice biz with the push towards electronic medical records, increased efficiency, etc etc):

http://i437.photobucket.com/albums/q...cern-12809.png

And here is GPN (Global Payment Network) - I may be stretching a bit with that "trend line" but whatever...

http://i437.photobucket.com/albums/q.../gpn-12809.png

ENDP - nasty looking chart, so i won't post - be careful with that one...

JKHY looks interesting:

http://i437.photobucket.com/albums/q...JKHY-12809.png

The Bears:

DIOD - Diodes - a sometimes high flier looks like it may sell off, well see...

http://i437.photobucket.com/albums/q...DIOD-12809.png

CFX

http://i437.photobucket.com/albums/q.../CFX-12809.png

ZRAN - Old Support = New Resistance?

http://i437.photobucket.com/albums/q...zran-12809.png

Finally, SRI - Will the 50-day MA prove to be resistance?

http://i437.photobucket.com/albums/q.../sri-12809.png

Given today's price action (nothing all day and then a surge towards the end of the day to the upside) - you would expect more bullish pinbars than bearish and that's exactly what we find:

Bulls:
CVX - Chevron Corp
CSCO - Cisco Systems Inc
SCHW - Charles Schwab Corp/The
BG - Bunge Ltd
CERN - Cerner Corp
BEC - Beckman Coulter Inc
ALXN - Alexion Pharmaceuticals Inc
MIL - Millipore Corp
NSR - NeuStar Inc
BCO - Brink's Co/The
ARBA - Ariba Inc
PAET - PAETEC Holding Corp
IXC - Ishares S&P Global Energy ETF

Bears:
AVAV - AEROVIRONMENT INC

Only a few to investigate tomorrow:

INTC
BKH
LOPE

http://finviz.com/publish/121009/INTCc1dl2302.png

http://finviz.com/publish/121009/BKHc1dl2303.png

http://finviz.com/publish/121009/LOPEc1dl2303.png

This one didn't come up in my scans last night (it was a pretty quick/sloppy scan to be quite honest, as I had other stuff to take care of...) but I wonder if bars like this should be included in scans. It hardly matters given the gap accounted for most of today's return, but just some food for thought:

SYNA: Up 6% ($1.60)

http://i437.photobucket.com/albums/q...estingMiss.png

WOW:
http://finviz.com/publish/121109/SIGAc1dl1405.png

That would have been nice... Lets review the headlines on this one:

12/07 SIGA TECHNOLOGIES INC: WEINER MICHAEL FILES TO SELL 20,000 SHARES
12/10 SIGA Technologies, Inc. Raises $20.0 Million in a Common Stock Offerin
12/10 SIGA TECHNOLOGIES REPORTS SALE OF 2.73M SHARES AT $7.35 EACH

So lets recap: Insiders are selling, the company does a secondary offering of shares and dilutes current holders, and then to top it all off, the best price they could get on those extra 2.7mm shares was only $7.35 -- i.e. 15% less than yesterday's closing price. I'll bet the proud new owners of that offering are excited to see their investment at $7.35 now trading at $5.60

Yowza...

Nice thread, Inifinity!

Saw your link on Chris' thread..

will keep an eye here for sure... your approach is very clever, IMHO. I trade stocks since 2002, and for 2 yrs on Fx...

One must pay special attention to news (the Q's balance, profit, loss, market share, etc...) when trading stocks, they can produce some huge movements and turning points, as you are stating in a very good manner.

When I trade Fx I tend to "ignore" news releases, ie... I'm much more techincal than fundamental, and when trading stocks, I used to be 100% fundamental, burt after trading Fx, I learnt that I can enhance my toolbox with some TA, PPZ, S/R, candlestick patterns, just as you are doing. Great job!

Cheers!

HT

Probably won't be any updates til late Sunday (if at all)... snow has arrived in Vermont so I'll be hitting the mounatain. Will try to get weekly stuff posted a little later though... Have a great weekend all!

Here are some Weekly Stocks to keep an eye on...And lets try something new this week... I'll load these into Finviz so you can get a quick chart of these...

Bearish Price Action:
FFIV - F5 Networks Inc
UVV - Universal Corp/VA
ABM - ABM Industries Inc
DIOD - Diodes Inc
AZZ - AZZ Inc
ECPG - Encore Capital Group Inc
AXL - American Axle & Manufacturing Holdings I
CHBT - China-Biotics Inc
Click Here for Charts...

Bullish PA:
PBI - Pitney Bowes Inc
BRO - Brown & Brown Inc
Click Here for Charts...

Commodities/Futures
10yr Treasury Note (bearish)
Rough Rice (bullish)
And the S&P 500(!)

This is fantastic! You can thank Clockwork71 for introducing us to you!

Hello HouseTrader & sdtrader,

Feel free to post any stocks you see setting up nicely or tell me why a given stock looks good/bad. Also, i'm always looking for ways to improve the scan that i'm doing, so feel free to let me know if you have a way to improve it. I've actually changed my scan a bit, so I may go back and edit one of my earlier post to be a little more clear on how i'm finding these...

One obvious change i was thinking about over the weekend was the fact that my scan starts with the Russell 3000 which would exclude large foreign stocks that have US ADRs, so I'm going to try to add those at some point this week.

Or if i get more bold, I may try to add certain foreign markets (Canada, UK, maybe some European or Japanese stocks...). But that would add alot of time/work and my wife already thinks i spend too much time looking at charts!!

-InfinitySL

Ouch... I know for sure that's a painful experience......

Cheers!

The great thing about loading these into Finviz as an equal-weighted portfolio is that I can track the performance of these picks.

As you might expect on an up-day for stocks, none of these bearish PB's were triggered and in fact are also up with the general market. (Even though the Dow is only up 25pts, the Midcap & Russell 2k are up about 1% today).

2 Lessons to be learned here: a) Never take the trade w/out confirmation and b) Even the best PA on a stock can be nullified by a strong/weak overall market (or strong/weak news out of a company). In short: Although sometimes these setups can give you an edge, there are never any guarantees!

Some interesting stuff the scans turned up today...

With the XOM / XTO transaction that was announced today you saw some action in energy producers. You've also got some interesting price action on Natural Gas (is it forming a bottom?). So these competing forces might have given us these 3 bearish pins, but I'm not sure...

Bearish Pins:
DVN - Devon Energy Company
ECA - Encana Corp
OGZPY - Gazprom OAO

Also, the general market moved higher so you'd expect more bullish action than bearish action.

Bullish Pins:
BBVA - BANCO BILBAO VIZCAYA-SP ADR
NKE - NIKE INC -CL B
KSS - KOHLS CORP
NBL - NOBLE ENERGY INC
BRFS - BRF - BRASIL FOODS SA-ADR
TUP - TUPPERWARE BRANDS CORP
PVH - PHILLIPS-VAN HEUSEN
EM - EMDEON INC-CLASS A
SYNA - SYNAPTICS INC
HALO - HALOZYME THERAPEUTICS INC
EBIX - EBIX INC
GMR - GENERAL MARITIME CORP
GAZ - IPATH DJ-UBS NAT GAS SUBINDX (a useful proxy for Natural Gas)

Here they are on Finviz... Some of the ADRs like OGZPY, BRFS, and BBVA didn't load. I guess finviz doesn't cover them. Also a few of them don't look right, especially EBIX which looks like a split may have happened...

Need to take a closer look at a few of these, but here goes today's list (sorted by Market Cap)...

Bullish:
RTN - RAYTHEON COMPANY
PGR - PROGRESSIVE CORP
OSIP - OSI PHARMACEUTICALS INC
UNS - UNISOURCE ENERGY CORP CO
GERN - GERON CORP

Bearish:
FTE - FRANCE TELECOM SA-SPONS ADR
FSLR - FIRST SOLAR INC
ELP - CIA PARANAENSE ENER-SP ADR P
JBL - JABIL CIRCUIT INC
WWW - WOLVERINE WORLD WIDE INC
SBH - SALLY BEAUTY HOLDINGS INC
NTRI - NUTRISYSTEM INC
DAR - DARLING INTERNATIONAL INC
MHLD - MAIDEN HOLDINGS LTD

A few charts to follow (i hope)...

Progressive - I like the bounce off of $17. Probably look for $17.50 or $17.60 as a potential buy point (gotta zoom in a bit tomorrow):

http://finviz.com/publish/121509/PGRc1dl2217.png

Geron - Would want to see this trade back above $6 before going long.

http://finviz.com/publish/121509/GERNc1dl2219.png

France Telecom - Would love to see this break $25...

http://finviz.com/publish/121509/FTEc1dl2220.png

ELP - I'd be a little scared to short anything Brazil, but you never know...

JBL - I like the rejection of $15, but i'd like it even more if it broke that lower trend line...

http://finviz.com/publish/121509/JBLc1dl2222.png

That's it for today's installment. Good luck out there!