NEW TRADING OPPORTUNITIES

With the Dow Jones finally holding above 14,000, I believe we are going to head higher. 14K is a tough barrier to cross and we finally have done it.



So let's look at a couple of the trades we were looking at earlier - ICE. ICE has broken out of a cup and handle. The pivot point (a.k.a. buy point) was $162.57 as determined by being $0.10 higher than the previous high. With the huge trading volume breakout, the stock has come back down to the pivot point again. Trading volume has not increased with stock pulling back. That is all a good sign. Personally, I am going to add on a few more shares near the pivot point.


CROX has also pulled back and hopefully it may make a run at $50. That may be its resistance point. Anyway, if you click on the chart it will enlarge it and the ellipses outline the buy point areas. Let's see how this one goes.





CTRP is presenting itself as being a buy candidate with support arising at $82. The yellow elipse shows a cup and hadle and the highest point after the breakout was $82.09. Using the IBD theory, a secondary pivot point/buying point is $82.19. Today, the stock showed that support will probably come around $82.



On the short side (i.e. a stock that gains profit if the price goes down), MTB looks good. The elipse shows that the Stochastics is overbought and ripe to go down. The resistance around $114 has been tested a few times without success.

GOOD LUCK TRADING.

JD