logo
Sign in or Register

Already a member?

Sign in

Or sign in with your account on:

Not a member yet?

Register
    

 

Equities – Your destination to connect with the growth investment community.

Trade What You See, Not What You Hope

By  +Follow September 16, 2013 8:38AM
Share:
Tickers Mentioned:

In our latest interview with Toni Turner of TrendStar Trading Group, we discussed some possible near-term scenarios for this shaky market. With so many uncertainties looming, traders and investors face a number of potential outcomes.

EQ: Stocks are up about 3 percent so far in September after experiencing a rough August. Is this an encouraging sign for the market to go higher from here?

Turner: It’s important right now to see what the S&P 500 does because we’re at a point where several key  events could take place depending on the Fed’s stance this coming week. Ifwe look at a daily chart of the S&P 500, it is nearing a resistance point from the May highs. Should it start rolling over here and head back below 1625, it could form a head-and-shoulders top-reversal pattern, which usually has a negative outcome.

Alternatively, the S&P 500 could continue moving higher from here back to the 1709 all-time high. If it falls at that point, and moves to that 1625 or 1630 support line, then it could form a double top, which also usually has a negative outcome.

More optimistically, it could move sideways between 1630 and 1709 for a while until we move into the typical three best months of the year, which are November, December, and January. The best case scenario—and I’m sure everyone would like to see this—is for it to move above 1709 and continue into an uptrend. Right now, it’s in an iffy position and trading on low volume. So I think it’s wise for traders and investors to trade what they see, and not what they think is going to happen.

EQ: The Federal Reserve will be watched very closely the coming days as the long-expected taper of its bond-purchasing program could be set to begin as early as next week. What is your feeling on the market with this possibly news looming?

Turner: Most of the shock and awe over the Fed tapering its bond purchases has been priced into the S&P 500 right now. It has generally been assumed that the Fed would taper its bond buying by $10 billion a month in the coming months. Right now, it seems that the market has pretty much factored that in, but as I said earlier, the market will still react to this coming week’s announcement. If you look at long-term bond prices through the iShares Barclays 20+ Year Treas Bond ($TLT) or other interest rate-sensitive vehicles, they’re all pausing here. Of course, they could go lower should the announcement next week be something that we don’t expect.

EQ: Apple’s new iPhone announcement was a major dud for investors, triggering a heavy selloff. Would you consider this a buying opportunity or is it too uncertain to touch right now?

Turner: I tend to stay away from stocks that are in the media spotlight. While I believe Apple (AAPL) is a fantastic company, my focus is on high-quality companies that trade below the media radar, with good fundamentals and good setups.

Were I to consider Apple here, I wouldn’t buy it at this exact point. I would need proof that it can hold above its 200-day moving average. To me, it appears to be in a very precarious zone, and it’s probably a good buy for investors like Warren Buffett, who buy and go to sleep for several years. For those people who are at all nervous about holding overnight positions, however, they may be advised to move into something more conservative.

EQ: What sectors are you watching right now?

Turner: The industry group that I’m watching right now is natural gas and the United States Natural Gas (UNG) . It’s risen off its August lows and has made a nice run up. Right now, it’s hesitating here with the lows at $18.47. As long as it can stay above that price level, I will be interested in it. If the U.S. does go on to have a manufacturing renaissance, as is predicted, natural gas could benefit nicely.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://www.equities.com/disclaimer


Signup for our daily newsletter and get our best articles emailed right to you!

Results for aapl
$ Hedge Fund AI $
21 Apr 15 02:38:31
Drop your $AAPL! Earn 6% a month using our 'Top 10 Hedge Fund' Artificial Intelligence < http://t.co/8phRy3z8od $SPY $QQQ $SNBC
#SocialMedia NC
21 Apr 15 02:36:43
Apple's iPhone 7 rumors really are the best yet - Computerworld http://t.co/6sG1VKGAgi #Apple • $AAPL http://t.co/9GZrsLRyiQ
Antonio Costa
21 Apr 15 02:36:14
$GOOG $AAPL Google to discontinue #YouTube support on older iOS devices, Apple TVs http://t.co/9XxDNxJyRo
Stock Hobbit
21 Apr 15 02:36:06
Find active and helpful professional daytraders stock traders here http://t.co/ndv5bWOOj4 $GOOG $AAPL $QQQ http://t.co/dNberEFVa1
Stock Wire
21 Apr 15 02:34:25
Market News: Apple Inc, Facebook Inc, Microsoft Corporation $AAPL http://t.co/2MzWJHRoWq
Call Levels
21 Apr 15 02:30:47
@Benzinga readers can set a price alert for $aapl using #calllevels and be informed when the price hits! #fintech
Chayton Falke
21 Apr 15 02:30:07
Free Video: Understanding The 30-minute Market Update http://t.co/2MCk1bNuUG #trading #startups #stock $AAPL #money #investor #angel
Rupert Patricia
21 Apr 15 02:27:08
@Unlocked28 $AAPL ...Apple is 13% of the #MG25 - Market Guru investor group's index. http://t.co/yOeaKiWhuS
ForexTradingUnlocked
21 Apr 15 02:26:58
$AAPL stock content, charts, analysis, & more - Free - http://t.co/uvKtw43ZwQ
Florent Capital
21 Apr 15 02:21:01
New #Sony #4K #TVs Get #HDR Playback http://t.co/3G5N96nsVR via @forbes $SNE $AAPL $SSNLF
TickerLens Apple
21 Apr 15 02:19:54
Google Inc (NASDAQ:GOOGL) Updates “Android Wear Watches” As Apple Inc. (NASDAQ:AAPL … http://t.co/q8OXWlScy2 $AAPL
 Best Sites For Mone
21 Apr 15 02:16:16
THE BINARY OPTIONS COMPETITION WIN $100,000 http://t.co/QEwKoFFlNt $LNKD $AAPL $GOOGL $GOOLD #bones #options #forex #forextrading #Bonus
Chris
21 Apr 15 02:10:37
Let's see tech go up on earnings this week. $fb $aapl $goog
Usman zahid
21 Apr 15 02:10:10
RT @Bidnessetc: Apple #CarPlay To Feature In #Porsche Cars http://t.co/jstg273PPj $VLKAY $AAPL http://t.co/Y3w6eu0LDC
Bradley
21 Apr 15 02:07:05
Great FREE #tutorial here for #traders http://t.co/LEJZ0NzJO6 $NFLX $BAC $AMZN $MSFT $AAPL $GOOG $GOOGL $FEYE http://t.co/OxBjEvSjkK
Breaking News Now
21 Apr 15 02:06:02
$AAPL: Apple Inc. Watch Shipments Are Go! Customers Billed Early: http://t.co/qn1NsvgPl1
Wayne Nguyen
21 Apr 15 02:03:57
Up is up and trend is up. Pullback is a buy $SPY $WIN $CHKP $CSX $IBM $AAPL $BDX $PBCT $CMS $ATVI charts of these long setups are on my blog
James DiPlata
21 Apr 15 02:01:55
RT @esimong: Daily Recap: Video & look ahead by @RedDogT3 $spy $spx $aapl $fb $twtr $amzn $feye $cybr $habt $shak $ms $nflx $uso http://t.…
James DiPlata
21 Apr 15 02:01:55
RT @armingips2011: #ApplePay plans to launch in Canada this fall, sources say $AAPL http://t.co/VU2dRBpB2J via @WSJ
James DiPlata
21 Apr 15 02:01:54
RT @esimong: Brief Stock Market Recap 04/20/15 by @chessNwine $SPY @COMP $RUT $AMZN $BLUE $DDD $IBM $UA $IBB $CMG $AAPL $JUNO https://t.c…
James DiPlata
21 Apr 15 02:01:54
RT @StocksThatDoubl: http://t.co/uAcamNRUPt subscribers alerted to options gaining 100+%. JOIN NOW $AAPL $QQQ http://t.co/sNZTBFBOL9 http:/…
James DiPlata
21 Apr 15 02:01:54
RT @esimong: Mrkt recap and "Avoid this earnings trade on Tuesday" by @TJReazor $STUDY $QQQ $AAPL $CUDA $CMG $NFLX https://t.co/eEfp64VEy9
 Best Sites For Mone
21 Apr 15 02:01:08
THE BINARY OPTIONS COMPETITION WIN $100,000 http://t.co/QEwKoFFlNt $LNKD $AAPL $GOOGL $GOOLD #bones #options #forex #forextrading #Bonus
ClosingBell
21 Apr 15 02:01:07
Bhutia gave $AAPL a BUY rating & has a 100% success rate w/ an avg return of 2.02% in this sector https://t.co/5Hzxy0CMEP
Keegan Benjamin
21 Apr 15 01:55:20
@HoangTrongTue $AAPL ...There's a list of Apple followers on Market Guru - http://t.co/ApkTDgvjYP
Bradley
21 Apr 15 01:53:06
Free Video Tutorial #psychology of #trading http://t.co/th4YrUzta4 $TLT $TNA $QQQ $SPY $GPRO $GOOG $AAPL http://t.co/KeYXgBehGG
3bac News
21 Apr 15 01:50:48
RT @mediasentiment: $AAPL received a new alert. Find out why at http://t.co/nZwqReM0tj #stocks #daytrading #trading #mkt #NYSE #NASDAQ #ma…
Media Sentiment
21 Apr 15 01:49:50
$AAPL received a new alert. Find out why at http://t.co/nZwqReM0tj #stocks #daytrading #trading #mkt #NYSE #NASDAQ #markets 8
FinBUZZ Just-IN
21 Apr 15 01:47:04
Track curated news and tweets for multiple tickers- US Tech Giants http://t.co/kdZSg01UFl $MSFT $TWTR $AAPL $FB $GOOG
Rupert Patricia
21 Apr 15 01:45:54
@_CardiacKid $AAPL ...Apple is 13% of the #MG25 - Market Guru investor group's index. http://t.co/yOeaKiWhuS
Rupert Patricia
21 Apr 15 01:45:43
@SergioGambarell $AAPL ...Apple is 13% of the #MG25 - Market Guru investor group's index. http://t.co/yOeaKiWhuS
Rupert Patricia
21 Apr 15 01:45:33
@solotradersmx $AAPL ...Apple is 13% of the #MG25 - Market Guru investor group's index. http://t.co/yOeaKiWhuS
Sergio Gambarelli
21 Apr 15 01:45:25
$AAPL - Chip Designer ARM's 1Q Net Profit Rises 36% --Update http://t.co/XjEotwfNxI
The Cardiac Kid
21 Apr 15 01:45:24
$AAPL - Chip Designer ARM's 1Q Net Profit Rises 36% --Update http://t.co/jtta7nEZ8z
Rupert Patricia
21 Apr 15 01:45:22
@ADVFN1 $AAPL ...Apple is 13% of the #MG25 - Market Guru investor group's index. http://t.co/yOeaKiWhuS
Эрдэнэбаатар
21 Apr 15 01:45:22
$AAPL - Chip Designer ARM's 1Q Net Profit Rises 36% --Update http://t.co/ZHbWXkwiCg
TI
21 Apr 15 01:45:21
$AAPL - Chip Designer ARM's 1Q Net Profit Rises 36% --Update http://t.co/Rb9cDTBoUQ
Solo traders
21 Apr 15 01:45:20
$AAPL - Chip Designer ARM's 1Q Net Profit Rises 36% --Update http://t.co/F3obJtQXsT
Stocks News&Markets
21 Apr 15 01:45:19
$AAPL - Chip Designer ARM's 1Q Net Profit Rises 36% --Update http://t.co/x1GZrNlFL0
Artiom Barski
21 Apr 15 01:45:18
$AAPL - Chip Designer ARM's 1Q Net Profit Rises 36% --Update http://t.co/SB8djMW5HN
john smith
21 Apr 15 01:45:14
$AAPL - Chip Designer ARM's 1Q Net Profit Rises 36% --Update http://t.co/nyKS862Epn
Live Stock News
21 Apr 15 01:45:12
$AAPL - Chip Designer ARM's 1Q Net Profit Rises 36% --Update http://t.co/IT3Ujp8WAZ
matt collom
21 Apr 15 01:45:12
$AAPL - Chip Designer ARM's 1Q Net Profit Rises 36% --Update http://t.co/aHQB3eDHGn
NASDAQ
21 Apr 15 01:45:09
$AAPL - Chip Designer ARM's 1Q Net Profit Rises 36% --Update http://t.co/gyq6JYFGKx
Kevin Orukel
21 Apr 15 01:45:08
$AAPL - Chip Designer ARM's 1Q Net Profit Rises 36% --Update http://t.co/owAldPDKzM
IH News Desk
21 Apr 15 01:40:42
$GPRO Last Price Updated Tuesday, April 21, 2015 04:11:29 AM $VXX $UCO $AAPL $FNMA http://t.co/219zlBQghh
Bradley
21 Apr 15 01:39:07
Follow me into live stock chat! $GOOG $PCLN $TWTR $FB $AAPL $EBAY $GM $DUST $BABA http://t.co/l9JkTCtpHR http://t.co/0hduQyizQE
The Stock Professor
21 Apr 15 01:33:28
UK chip designer ARM hits a high after iPhone 6 boost: http://t.co/3rW2sLnQw6 $AAPL $GOOG $PCLN $K
Keegan Benjamin
21 Apr 15 01:30:54
@LaQRR $AAPL ...Apple is 13% of the #MG25 - Market Guru investor group's index. http://t.co/bwSA3o4Wr0
RL
21 Apr 15 01:30:44
$AAPL https://t.co/jaC58g1iEr
				
				
By  +Follow September 16, 2013 8:38AM
Share:

Comments

 

blog comments powered by Disqus

About us

Equities.com is the most advanced interactive online social ecosystem for the financial industry, serving as a resource center and next-generation communication platform that connects self-directed investors with public issuers, market experts, and professional service providers and vendors. Registered members can leverage our exclusive proprietary research tools such as the Small-Cap Stars, which outperformed 90% of all small-cap mutual funds, and robust do-it-yourself E.V.A. research reports. The Equities.com Issuer Dashboard is the ideal tool to communicate and manage investor awareness campaigns to the investment community, as well as to access valuable resources to help your company grow.

Market Data powered by QuoteMedia.
Copyright © QuoteMedia. Data delayed 15 minutes unless otherwise indicated. Terms of Use.