This Week’s HPS Video and Watch list have been uploaded

Today most have been one of my most active trading days in recent history. Mainly because it takes time for HPS’s to come to maturity. Where the best stocks are setting up in the best way possible for a short term trade and today we had a lot of those stocks set up. So I usually start small position on the Friday to ensure the stocks don’t gap up and run away on me on Monday. Over the last week I focused a lot of shorts and was Shorting the market on 3 occasions each one ending up with a nice profit. So where does that that leave us going into next Monday? The Bulls seem to be fighting hard and not ready to roll over for any significant move down. But I am not over confident on either direction. The daily chart is setting up as a text book flag but with stochastics moving lower and the 60 min is neutral. To hedge with a few shorts might be logical at this point, but not necessarily right. Over time I see us heading higher its Just Monday I won’t make a call on. As for underlying stocks we have seen a great move in steel this week and other commodity based stocks. And now I am seeing some great setups starting to appear in some stocks that might be too good to pass up. As I usually do each week I mention one of the Best Bets I have on the Members Watch List Video. This week hands down it’s IBM. The Buy Zone and Profit zones can be found on the HPS site. 

I want to thanks DV8 for being this week’s Guest Trader. Awesome job Dane!

As I always want to give back to the members I want to kick off officially “Buy the Trader a Margarita”  for DV8 who’s paypal address is info@approachnet.com.

If you appreciate Danes trades or maybe profited from them hey buy him a round I am doing that right now! 

This Week’s video is uploaded and ready for you. The first part a great review on why HPS continues to work and the second part contains all this week’s plays 

http://daytradingradio.com/10for1000

Final Comment I feel the flag will break out to the upside next week and like to see it led by some great oversold stocks that are the focus of the HPS video.

DTRS