Top Trade Ideas for the Week of October 31, 2011: Bonus Idea

• Posted by Greg Harmon
• on October 30th, 2011

Here is your Bonus Idea with links to the full Top Ten:

Tivo Inc., Ticker: $TIVO

Tivo Inc., $TIVO, is approaching resistance at 11 for the 6th time this year. Is it gets there the Relative Strength Index (RSI) is rising sharply after holding the mid line and the Moving Average Convergence Divergence (MACD) indicator is flat but starting to rise. A move over 11 has resistance at 11.50 and the free air to 15.50. Enter long on a move over 11 with a stop at 10.67. As the price hits 11.50 take off 1/3 and convert the stop to a 2% trailing stop. At 13 tighten the trail to 1%. For a very speculative options play consider the November 12/13 Call Spread Risk Reversal selling the November 9 Put. This was available for 11 cents near the close on Friday.

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After reviewing over 900 charts, I have found some good setups for the week. These were selected and should be viewed in the context of the broad Market Macro picture reviewed Saturday which as we head into the last 2 months of the year looked for Gold and Crude Oil ready to continue higher with a chance that Gold consolidates the recent gains. On the other hand the US Dollar and US Treasuries are set up to continue lower. The Shanghai Composite is showing signs of a reversal higher while Emerging Markets also look higher, but since they are at resistance may consolidate. Volatility looks to continue lower supporting further upside for the US Equity Index ETF’s SPY, IWM and QQQ. US Markets all had a good run last week and it would not be a surprise to see a pullback to consolidate the gains. The QQQ looks the strongest with a steady trend higher while the IWM exhibiting topping tails and largest move for the week the most vulnerable. Despite that they all have confirmed the trend higher. Continue to watch the US Dollar and US Treasuries for signs of a reversal that could halt the Equity run higher. Use this information as you prepare for the coming week and trade’m well.

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The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.

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