Bonus Idea: Top Trade Ideas for the Week of January 10, 2011

• Posted by Greg Harmon
• on January 9th, 2011

After looking at over 700 charts, I have found some good setups for the week. This week’s list contains 9 long ideas, and 2 short setups. Here is the last idea for tonight with links to the others from earlier.

Bonus Idea: World Acceptance Corp, Ticker: WRLD

The idea may not be hard to accept that World Acceptance is in a downward move. Friday’s close marked a lower low, after touching the target of its measured move at 55, mentioned 4 weeks ago on chart.ly. With the Relative Strength index falling rapidly, and the Moving Average Convergence Divergence getting worse, this stock looks headed lower still. There is some support at 52 and then at 50 before it could enter a freefall down to 46 or lower.

Enjoy all the picks below and trade’m well!

#1-5

#6-10

These were selected and should be viewed in the context of the broad Market Macro picture reviewed Friday which looks like more pain for long holders of Gold and Treasuries, but brighter for the US Dollar index and Crude Oil. Emerging markets look better higher with perhaps a slight pullback. Neither the Chinese market nor the Volatility Index look to play a factor in influencing the US markets. SPY and QQQQ look like the best of the US market Indexes, with strong bullish charts where as the IWM may need to pullback some before it can join them higher. A review of the sector charts within the equity markets shows the Winners to be Industrials, Technology and Health Care and the Losers on the Battlefield to be Materials and Consumer Staples, a clear rotation, with the rest battling at the Front Lines for the time being.

(As always you can see details of individual charts and more on my twitter feed and on chartly.)

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