A Trade A Day

This morning’s Top 5 Trading Ideas are brought to you by double bottoms and bear flags.

IPG is carving out the finishing touches on a double bottom. I like IPG above 9.35.

I would have like to see GILD correct a bit more. I still like it above 45.

Another double bottom. I like VMED above 19.25.

I like the bear flag CF is painting on my screen. Breaking through the 50 SMA just adds more weight to my short. I like CF below 77.70.

NFG tried to setup today, but rallied back into the bear flag pattern. Normally, I would pass on this one, but If the market continues to plummet, I think NFG will visit it’s 200 SMA. I like NFG below 46.30.

My method specifically states that I will be in trades that are confirmed by market direction. I always have a watchlist of stocks that can go either way, but the success of my trades depend on being in synch with the market’s trend.

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