Top Trade Ideas for the Week of September 30, 2013: Bonus Idea

• Posted by Greg Harmon
• on September 30th, 2013

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

Mastercard, Ticker: $MA

Mastercard, $MA, is trying to move higher after the Bearish Engulfing candle last Wednesday. The Relative Strength Index (RSI) is moving higher but the Moving Average Convergence Divergence indicator (MACD) is crossing lower, diverging. The completion of the AB=CD pattern suggest more pullback. A mixed picture. There is resistance at 695 and then a Measured Move higher to 763. Support lower comes at 671 and then 657 before 626-630 and then 603.

Long Ideas: On a trigger over 690

Trade Idea 1: Buy the stock with a stop at 670.
Trade Idea 2: Buy the October 700 Calls (offered at $5.70 late Friday).
Trade Idea 3: Buy the October 4/October 700 Call Calendar ($4.45).
Trade Idea 4: Buy the October/November 700 Call Calendar ($9.40) and sell the November 725 Call ($6.25).

Short Ideas: On a trigger under 670

Trade Idea 1: Sell the stock short with a stop at 690.
Trade Idea 2: Buy the October 670 Puts ($8.55).
Trade Idea 3: Buy the October 670/650 Put Spread ($3.85).
Trade Idea 4: Buy the October 670/650/630 Put Butterfly ($3.00).

Premium Content
The Best

The Rest Premium

Free Content
The Rest

If you like what you see sign up for more ideas and deeper analysis using the Get Premium button above. As always you can see details of individual charts and more on my StockTwits feed and on chartly.

After reviewing over 1,000 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 the 3rd Quarter comes to a close sees the markets looking positive but softer on a short term basis. Next week look for Gold consolidate or move higher while Crude Oil continues lower. The US Dollar Index looks to continue its downward action while US Treasuries are biased higher near resistance. The Shanghai Composite and Emerging Markets are moving together and continue to look best to the downside. Volatility looks to remain subdued but with a drift higher keeping the bias neutral to higher for the equity index ETF’s SPY, IWM and QQQ. The SPY looks the weakest of the bunch and better lower while the IWM and QQQ consolidate in their uptrends. Use this information as you prepare for the coming week and trad’em well.

____________________________________________________________________________________________________

Dragonfly Capital Views Anniversary Celebration

For a limited time the Opportunity to join the Dragonfly Capital Views Premium Membership on an Annual basis is available for only $600.

This is 20% off of the standard annual subscription price and nearly 45% off of a rolling monthly membership! Don’t miss this limited opportunity to join or upgrade! Sign up here.

Want to learn more about Dragonfly Capital Views?
Dragonfly Capital Views Performance Through September 2013 Expiry and sign up here

If you like what you see above sign up for deeper analysis and trading strategy by using the Get Premium button above. As always you can see details of individual charts and more on my StockTwits page.

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.

blog comments powered by Disqus