Charts, Keeping Your Eye on the Ball, Frustration

I will update later today describing my person strategy that I have been following in this market.

Here are some charts with the exact lines I drew yesterday. Today was all about the shorts.

POT

Frustration: I could not short this stock through TOS.

MON

Frustration: Was a bit too slow to notice this stock dropping right from the gap up. I felt like I would chase it if shorted, so instead I tried to short POT (arg).

MOS

Frustration: Could not borrow.

NYX

Frustration: Not paying attention!

So the lesson learned? I need to concentrate more on the stocks that I research and highlight. I should have easily got 4+ points shorting MON or 3+ shorting NYX. I need to update my chart setup in the mornings so that I can easily watch these stocks of interest without missing the big moves.

On the plus side, I still had a good day trading SKF to the long and POT to the long. Just quick intraday trades.

CME, NYX, ICE

Charts are starting to look very bullish.

CME

There is undeniable support at 320. It broke out of its channel, has had a pullback (a little too much), and is now approaching its recent highs. This is my favorite exchange stock by far. Days To Cover (Short Interest Ratio) 2.3


NYX

Broke out of the wedge, pulled back (a little too much) and is now trying to hold above the 10, 20, 40 DMA. Days To Cover (Short Interest Ratio) 2.4

ICE

Broke above 80 once again. This one still needs to heal. My least favorite. Days To Cover (Short Interest Ratio) 1.5

A quick look at exchanges

I am starting to turn bullish here.

NYX

Critical point for point for the NYX. If it holds above the moving averages and that descending line, it could very will be on its way to bottoming.

ICE

Made a lower low. I love to see stocks break below their lows, bring in fresh shorts, then squeeze them all the way up. If it can regain 80, then a bottom could be in.

CME

The most promising of them all. Huge consolidation, breakout, now it is very close to testing the breakout. CME looks very interesting here, above the increasing 20 and 50 DMA.

Exchanges - Could they be bottoming?

NYX broke below support, will this sucker in a few shorts and then rip higher? I would wait and find out before getting in.



ICE has pulled back in between the 20 and 50 DMA, its do or die from here. I am tempted to buy with a 90 stop. Cup and handle? Only if the handle doesn't break!



CME is still in very tight range, easy to buy at the bottom and exit if it breaks. If CME does not gain any support here, time will wear it down to the downside.