NASDAQ and QQQQ started the current upward trend with a strong PFP signal- REVERSE BUY around August 17 as shown in the chart below. Today there is a similar magnitude of sell signal- U TURN SELL signal.
It looks worthwhile to initiate short positions in most stocks with stoploss at today's high prices.
PLCE- Children's Place retail stores- Is it bottoming out?
Don't know what news is out there but it must be bad which caused the price to drop. However this must be an expected news and as per Profit From Prices stock trading theory, looks like people have used this bad news to buy this stock. It opened low but instead of going down from the Open price, it started going up. THis shows that there was more buying today than the selling that was anticipated. Watch this stock for investment opportunities. If someone decides to buy, stop loss should be kept at 20.49$.
Something is cooking in Renewable/Alternate energy field. Many stocks are showing accumulation at current low levels. Today there is a strong buy signal - Reverse- in AVR- Aventine Renewable Energy (NYSE: AVR)
See how the volume is higher than normal for last few days. Today it made a low of 8.60 but closed strong at the end of the day.
LFC is a hot stock but today but over the last two trading sessions, it has shown a rare trading pattern- island reversal. There was a positive gap yesteray which took the price to the high of around 95 but today there was a surprising down gap.
The stock can be sold short with a stoploss at 95.
If it comes back to 92-93$, it can be Short sold with a 2-3$ stoploss.
AMD- Advanced Micro Device, shares have shown a U TURN profit from prices trading signal. It is worth trading the stock with stoploss around today's low- 12.74$. (INTC- Intel Corp stock also showed a FREE FALL signal today showing a reversal to negative trend.)
PEIX- Pacific Ethanol- Do you think ethanol stocks are bottoming?
Unusally high volume over the previous few days. PEIX stock also had a nice jump a few days ago and is now trading back to 9$. IMO this makes a good trade for traders with a stoploss at the recent Low price.
Investors can also add this stock on their radar. Keep an eye on PEIX- Pacific Ethanol stock as a potential reversal candidate around current 8-9 dollars stock price.