• Trading 101: 3 Setups to Watch

    by  • March 28, 2013 8:27 am • Trading 101 with Peter Bryans • 0 Comments

    It’s a short week with the market closed tomorrow (Friday). Here are three names that I am eyeing for long plays. Keep in mind that stock selection at this juncture has been critical. Only trade your best setups, and try not too have too much long exposure. The S&P is clearly having trouble surpassing previous all-time highs from October, 2007 (1565.25), and we have been in a choppy trading range for what seems like forever to many people (between 1548-1563).

    Anyways, here are some names I like with some charts and a few comments regarding what I am looking for. Good luck trading, and enjoy the day off tomorrow.

     

    International Game Tech (IGT). Chart is in a nice uptrend. IGT is a manufacturer of casino games, and there has been a lot of talk around these types of names and the expansion of the casino/gaming industry. Look for a move above ~$18.

    (chart courtesy of StockCharts.com)

     

    Tesoro Corporation (TSO). Oil refiner– a sector that has been on fire lately. Also a nice looking chart, although seems to have stalled up near the $60 level. Look for a break of this round number. SI/Float is over 4%.

    (chart courtesy of StockCharts.com)

     

    Kansas City Southern (KSU). Firm engages in rail transportation. Transportation sector, in general, has been a major leader in 2013. Dow Theorists are looking for names such as KSU to lead the market higher if we are going to make new all-time highs.

    (chart courtesy of StockCharts.com)

    About

    Peter Bryans joined the Schaeffer's Investment Research trading team as a Trader in April, 2012. A graduate of the Fisher College of Business at The Ohio State University -- where he concentrated in Finance -- Peter previously held internships with an insurance broker and a wealth-management firm. In his current role, Peter trades a variety of our real-time option services and also hosts our "Options Apprentice" weekly webinar presentations.

    http://www.schaeffersresearch.com

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