Living In a Bull Flag Paradise

Hope the weekend treated you all well. Now it is time to get back in to business.

Watching my movers this morning...ICE, BIDU, WYNN, all seem to be working well. Its the ATI, VIP, and a few others that are threatening to slow down. Good thing I don't negotiate with terrorists.

What about the watchlist this week? I have an enormous list so lets get started!

As you know I break them down into two categories. Bounces and breakouts. This is the list of stocks that looked interesting from the thumbnail view...and I have jotted them down for further research. If you find something on this list that you don't like...just remember I haven't looked all that closely either.

Watching For a Bounce

FFIV- Remember this here. I threw this stock out there as an example for a flag trade. The end result is obvious, flags rock. Friday it made a nice bounce after consolidation...keep a close eye on it.

COGN- Getting close to trend support.

AIG- Turning up off trend support today.

AEM- Same thing, sitting on trend support.

CAL- Beautiful bounce off support, might qualify as a breakout by the end of the day.

CTSH- Great stock, waiting for an add point.

VIP- Might be flagging? Would love another ride on the VIP train.

Price Patterns

BJS- Bull Flag. Just waiting for a break.

XTO- Bull Flag, likely to test old resistance at 48 first.

THE- I hate this stock (if you want to revisit why, click here) but I am watching the recent bull flag. Waiting for some "get back" on this stock.

OIS- Hmmm. Another energy stock and another bull flag. It is in the running for "longest flag pole of the day award."

CRDN- Its early...but its flagging.

TALX- I felt like mixing in a symmetrical triangle to keep things interesting. I drew this guy from late October until recently. Friday's candle moved about .20 cents outside my support line, but my crayon approach counted it anyway.

SLG- For anyone that knew me from back around June...I promised that this one would hit its $10 target eventually. This an important lesson for the longer term traders that price targets represent MINIMUMS. Anyway, yes this one is also flagging.

TGT- Symmetrical triangle. Waiting for a break.

SEIC- Symmetrical triangle. Might have to use line charts for this one, but it works.

SLB- Flag


CPA- Flag... Might confirm today

TWGP- Symmetrical Triangle

Bon Apetit'

Don't forget AKAM. I was slow on the draw on this one, but after taking a close look at it this weekend and noticing that at the time, the spread on the OTM $55 Jan call was only $0.05, I bought at the opening and made 15% today. Not as good as if I had gone in when you first recommended it, but I'm happy. I'm a little concerned about ATI and VIP - gave back some profit today, but I'm in January calls on those as well, so we shall see.

John M.

Thanks,for the mention on CAL. I took the trade at the end of the day and was wondering if I was crazy.

How about WYNN and CTRP cha-ching!!!


It's amazing how a simple trendline bounce can turn into a breakout. I got CAL last time it bounced in the mid $30's. Just looking for a few points and BOOM, straight up to $45. Then it backed off and BOOM, great day today. Hope it can clear this level and NOT double top!!

Also, CTRP rules. LVS has really underperformed WYNN though. I chose poorly there.

Anyone ride that PTR symmetrical triangle from a month ago? WOW!

Jeff, thanks for posting these watchlists. It's like a tasty afternoon snack.

I'm not 100% sure, but I beleive MRO and EEM are Bull Flags that have yet to break out.

MRO & EEM has broken a 52Wk high and is retesting the new support (in the form of a Flag).

-Mark M.

was a little concerned about ATI myself, got in early and have made a pretty decent profit, dont want to give it back, however, it looks like 96 is providing a pretty good support level, it was down quite a bit today and kind of rallied back, gotta give a little to get a lot, I HOPE, let me know what you think. td

what do you have as a price target for CTRP, CTRP does ROCK!!!

My watchlist from Tues AM:

AXS - symmetrical triangle broke out, tgt of 37.50

SID - possibly sell short, not much in the way of open interest on options beyond DEC

LPNT - Descending Triangle, may be breaking out today, target of 30

MAN - Possibly a flag, but probably a symetrical triangle looking like it's breaking out today. target of 77.25 on triangle, 80 if it can be considered a flag.

SHLD - Symmetrical Triangle breakout yesterday on abt avg volume, but stock still working towards it's long-term goal of reverse Head and Shoulders with ultimate target of 192.

Hope there's something here you didn't already have. It's nice to give a at least a little something back for all the great advice you give all of us!

Thanks-- Cathy

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About me

  • I'm Option Addict
  • From Saratoga Springs, Utah, United States
  • I am a professional trader and an instructor for Investools. I've had relations with the markets for 9 years. Born in Concord, CA, but reside in Saratoga Springs, Utah. Father of THREE, Husband of one.
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