Holiday Over: These Trade Setups Will Make You Money

September 2, 2014

Roll The Dice And Go Long Las Vegas Sands Corp.

September 2, 2014

Gaming companies are really taking it on the chin today as more bad news is coming out of Macau, and revenues continue to fall. Shares of Las Vegas Sands Corp. (NYSE:LVS) are no exception, as they are being taken down over 6%. LVS has had a terrible 2014 and the stock has entered into bear market territory, as it is down well over 20% from its high set back in March at $88.28. As a pro trader who studies charts on a daily basis, I have isolated an enticing level to go long Las Vegas Sands Corp. (NYSE:LVS) at $56.50 area. That is where this stock broke out last year and surged higher. So as Las Vegas Sands Corp. (NYSE:LVS) continues to fall, I would suspect that a retest of the break out level is imminent, and traders can roll the dice by going long to make money!

 

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Parm Mann
Elite Round Table
Follow me on twitter: @ParmMannTrader


GoPro Inc Precise Target And Short Level

September 2, 2014

GoPro Inc (NASDAQ:GPRO) is on an amazing run again today. This is the third day in a row this stock is surging. Where is the top? Where is GoPro Inc going to be a high reward, low risk short? The answer is revealed by using a method called symmetry of moves. Please note the chart below. This chart shows that when GoPro Inc came public, it had a $21.20 move higher before pulling back. The pull back lasted for a few months before breaking out recently. The way you calculate the target and short level is by taking the low of the pull back, just prior to the recent breakout, then, add the same amount as the first move (+$21.20). This gives you the symmetry of the move and ultimately high target/short level. The target on GoPro Inc is $58.40.

 

Gareth Soloway

Chief Market Strategist

www.InTheMoneyStocks.com

 


WYNN Resorts LTD Craps Out

September 2, 2014

Yesterday, a report was released that casino revenues missed estimates for the 3rd month. This news is certainly weighing heavily on the casino stocks today. Leading casino stock WYNN Resorts LTD (NASDAQ:WYNN) is trading lower by $7.54 to $185.34 a share. Swing traders should note that the stock is trading below the important 50 and 200-day moving averages. This chart formation puts the stock in a weak technical position. Swing traders should watch for near term support around the $177.00 level. This is an area where swing traders can look for a short term bounce in the stock.

 

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Chief Market Strategist

Chevron Corp Runs Out Of Steam

September 2, 2014

This morning, leading integrated energy stock Chevron Corp (NYSE:CVX) is declining lower at the start of the trading day. Most likely the weakness in Chevron Corp stock is due to early weakness in oil. Chevron Corp stock is trading lower by $1.05 to $128.40 a share. Short term day traders should now watch the $127.90 area for intra-day support. This is a level where the stock will likely be supported by the institutional money. Day traders should look for an intra-day bounce in the stock when this level is reached.

 

Join us as we guide members to enter and exit the best trades at the best time… take a look at the calls we have made in our documented performance track record right here. The only thing left to do is to join us and our members as we control our financial freedom.

 

 

 

 

Chief Market Strategist

Labor Day Hangover, Here Is Today’s Trading Action

September 2, 2014

Splunk Inc Will Be Sunk At This Level

August 29, 2014
Today shares of software maker Splunk Inc (NASDAQ:SPLK) are soaring by around 20% as the company came out with earnings and guidance that the street is loving. The stock had a gap up higher and has basically gone up all day with minor pullbacks, which are probably points where traders and investors are taking profits. As a pro trader who makes a living from day trading and swing trading by utilizing charts, I see an extremely interesting level where money can be made on the short side. I have isolated $56.45 area as stiff resistance for Splunk Inc (NASDAQ:SPLK) to stall out. This level has been singled out using proprietary techniques and will be where I step up to short this high flyer.
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Parm Mann
Elite Round Table
Follow me on twitter: @ParmMannTrader

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