Trader Mike

Let’s see if we can get some follow-through on yesterday’s strength. I’ll be watching some semiconductor stocks on the heels of the Micron (MU) news.
Potential swing trades:
See one of the recent ‘Chart Reading‘ posts for some potential swing candidates.
Potential day trades:

Here are charts of the Nasdaq, S&P 500, Amgen (AMGN), INAMED Corp. (IMDC), Massey Energy (MEE) and SanDisk Corp. (SNDK):

SD Trader asked for a chart of SIRI:

I have a chart request for SIRI..can you break it down for me. I am currently doing mostly swing trades and this appears to be a decent oppurtunity to get it before the Stern/xmas effect.

From a strictly technical standpoint I don’t like the recent action in Sirius. [...]

It’s looking like another choppy, narrow range day. And now that this range is so clearly defined any many people have been lulled to sleep this is a great time for a move out of the range. Perhaps month/quarter-end manipulation ‘adjustments’ by the big funds will help things along.
Potential swing trades: [...]

The Nasdaq has spent most of the last three days between 2,114 and 2,128. This intraday chart (60 minute candles) shows the range that I’ve been watching for the last two days.

This type of action is basically hell for me. I guess (good) scalpers don’t mind this choppiness but I think [...]

My outlook today is basically the same as it was yesterday except now I’m watching for a break of a two day range. It’s Wednesday so that means we’ve got the oil inventory report at 10:30. As usual I’ll wait until 15 minutes after that to make any moves.
Potential swing trades:
See [...]

After yesterday’s stalemate of a day this little rally attempt is starting to look like a dead cat bounce to me. We really need some increased upside volume for this bounce to stick. Right now I’m thinking that I’ll use a break of yesterday’s range to define which direction I’ll trade — long [...]

This comment was left the other day about BEBE:

Interesting you brought up BEBE Mike. Bounced off nicely off support at $15. I know that you are a day trader Mike, but do you ever take into consideration the longer term trend or are you purely there for the quick in and out type trades? BEBE [...]

CPST is another stock that Cramer was a bull on a couple of weeks ago. He said wait for a pullback and maybe this is exactly what he’s waiting for. Mind you though, this puppy is volatile, it’s down over 25% from this month’s highs.

We’ve obviously got a pretty good sized gap up today due to relief over the amount of damage hurricane Rita did over the weekend. I’m on the lookout for the gap-fade crew to try to fade the gaps in the early going. My guess is that the market is oversold enough for buyers [...]