Warren Bevan | TalkMarkets | Page 7
Full Time Swing Trader/Technical Analyst
Contributor's Links: Wizzen Trading
Warren Bevan is a renowned trader who’s honed his craft over the years learning the styles and techniques of Jesse Livermore, William O’Neil and Dan Zanger and forming his own unique style. He focuses on making money and going hard when the right markets present themselves and during ...more

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Steep Channels Don’t Last
It was a quiet half day Friday until near the close when the S&P took off, again. We’re very overbought here now so expect a little consolidation before the next wave higher into year's end.
Steel Stocks Ripping
The steel sector is on a tear and may well become a major theme in the years to come if Trump can pull off massive infrastructure projects and I for one hope he succeeds.
Failed Breakouts To Come
Looks like stocks need more time to setup so cash will be most of my position unless I see something nice setup. Perhaps I’ll try to grab a few quick trades in fast movers of the day, on the day.
Shippers
Stocks continue to act strongly with a major focus on the shippers.
Election Results Push Stocks Higher
Wild, wild action in the SPY​ ETF hasn’t tempted me to do any trading yet but I imagine we will see some buy points trigger in the week to come. Lots of stocks are looking better with several potential cup and handles on the way if all goes well.
Stocks Seem To Love Trump
Markets absolutely tanked to limit lock down levels as Trump was emerging as the likely victor, then I nodded off, missing the chance to get into the futures market as they were showing strength.
Wait & See
Still nothing but weakness and chop for stocks as we await the outcome of this election. We are very, very oversold but that doesn’t mean we can’t go lower, especially with such a big event coming in the next few days.
Only Miners Are Winning
Stocks broke today after a couple months of choppy action. SPY tested and so far held the big support level at 210 and I did try a 10% weighting for a day-trade in SPY today but it didn’t work out.
More Chop
There isn’t much to say as stocks continue to chop around on mixed earnings. We’re seeing lots of failed breakout moves and some stocks are also nearing key support levels such as ACIA who has filled it’s massive gap from last earnings season.
Apple Down
SPY has a lot going on including the very bearish large head and shoulders pattern.
Lacking Action
So far this earnings season we’ve seen some leading stocks show one day wonder moves while others are showing good strength which means there is really no general consensus or trend to rely on yet.
Pre-Election Blues
A few stocks are acting nice, especially in the mining sector, but for the most part, we are rangebound.
Stocks Are Turning Back Up On Netflix Earnings
A strong day for some stocks today after NFLX showed nice earnings numbers and took the market higher with it.
Waiting For Setups
A strong start to Friday but then a very weak close tells me I was right to go back to cash as markets are too choppy to really bother with right now. They will give us some nice setups in a couple weeks or so, or perhaps a nice dip buy.
Fed Flop
SPY continues to hold the 100 day moving average.
Poor Stock Action & Trading
Quite weak action with a few exceptions today but in the end I had to check out of a couple stocks for larger losses than I’d have liked.
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