logo  
Sign in or Register

Already a member?

Sign in

Or sign in with your account on:

Not a member yet?

Register
    

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.


Liked What You Read? Join Equities.com and Connect With Your Favorite Financial Experts FOR FREE! Members of Equities.com gain access to our leading financial news and content, active social investment community, proprietary research tools including the 2014 Small-Cap Stars, E.V.A. reports and more.

Results for aapl
Chasing Stars
3 Mar 15 14:25:55
$MNK Summary Click Here: http://t.co/w7sJY3mYNK Also See: $AAPL $HAL $MTL $VZ ~
D-Square
3 Mar 15 14:24:52
RT @OphirGottlieb: Tale of the Tape: $AAPL vs $FB In One Image Price to Sales AAPL: 3.4 FB: 16.3 http://t.co/XcTB79CbOq
Tech Insider
3 Mar 15 14:24:49
Apple Will Hire Its Contract Security Staff On A Full-Time Basis:  Apple will hire its contract s... http://t.co/Co4vOW5fLm #Apple $AAPL
Cutlass
3 Mar 15 14:23:20
RT @OsirisWealth: $NFLX $AMZN $TSLA $V $GOOGL $PCLN $LNKD $AAPL $GE $BA $GPRO $SPY nailed these big time last month for ER and post ER play…
Sarah Banks
3 Mar 15 14:23:19
Hope I win this #iPad mini from @ValueWalk! $AAPL http://t.co/7ulblNKjRK http://t.co/DE2e1ctFll
[ iPhone News ]
3 Mar 15 14:22:58
RT @GetInsideApple: Documents describe "three key features" that will sell the new Apple Watch, i... https://t.co/QOSKgEcfIp $aapl #apple h…
Thomas Johnsen
3 Mar 15 14:22:55
RT @TheStreet: $GOOGL vs $AAPL: Apple takes mobile payments, for now... http://t.co/DFF7jCUazj
Michele Stasio
3 Mar 15 14:22:47
Will $AAPL really build its own car? It's a risky business for them to get into, I have my doubts.
I Move Markets
3 Mar 15 14:22:29
@TickerLensAAPL I hope your right and it blows my mind like MSFT Hololens. #AppleBuyTesla $AAPL needs a visionary spokesman like #ElonMusk
stockmarketnow
3 Mar 15 14:22:02
RT TheStreet: $GOOGL vs $AAPL: Apple takes mobile payments, for now... http://t.co/gfSPwkzq0u
CapCube NYC
3 Mar 15 14:21:57
“@mims: Apple Pay is leading to 60x higher rates of fraud than typical credit card transactions http://t.co/7qrvAWDYCc”. $AAPL
Josh J Jamieson
3 Mar 15 14:20:45
RT @ReutersBiz: What would happen if #Apple joined the Dow? Data Dive: http://t.co/hVA7WDU4qb $AAPL http://t.co/Bq43tdqKKH
Carolyn B Miciano
3 Mar 15 14:18:04
Maximize potential from weekly options http://t.co/QQ4hBXD1sN $AAPL $GOOGL $PCLN
Bertel Schmitt
3 Mar 15 14:17:29
Auto Makers Gear Up to Take on the Challenge From $GOOGL and $AAPL http://t.co/jb0pDsGadA via @WSJ
#HelpYouGetGAINS
3 Mar 15 14:16:49
Android and iPhone users need to be wary of this mobile web vulnerability: http://t.co/6tfuUOZYhU $GOOG $AAPL #tech #mobile
TheStreet
3 Mar 15 14:16:11
$GOOGL vs $AAPL: Apple takes mobile payments, for now... http://t.co/DFF7jCUazj
Brian Pointer
3 Mar 15 14:15:42
RT @ReutersBiz: What would happen if #Apple joined the Dow? Data Dive: http://t.co/hVA7WDU4qb $AAPL http://t.co/Bq43tdqKKH
Nick Curran
3 Mar 15 14:14:27
RT @mattkrantz: Apple hits $1 trillion when this happens (Photo: AP): http://t.co/jBmcH91z6V $aapl http://t.co/132PVx3zA2
Benjamin Blodgett
3 Mar 15 14:14:17
Close $AAPL long for a few points. More importantly my Masked Pain to Gain Ratio was nearly 1:7. Less is more.
Osiris Trading
3 Mar 15 14:11:09
$NFLX $AMZN $TSLA $V $GOOGL $PCLN $LNKD $AAPL $GE $BA $GPRO $SPY nailed these big time last month for ER and post ER plays. Swing trades now
Bradley
3 Mar 15 14:11:08
Follow me into live stock chat! $GOOG $PCLN $TWTR $FB $AAPL $EBAY $GM $DUST $BABA http://t.co/l9JkTCbOjh http://t.co/z7VAzqPnL3
Steve Scheepmaker
3 Mar 15 14:10:59
RT @mattkrantz: "FREAK" security flaw hits Apple and Google users: http://t.co/gXyaDPdC2i $aapl $googl
Just #BTFD
3 Mar 15 14:10:33
Oops $AAPL RT @mims: Apple Pay is leading to 60x higher rates of fraud than typical credit card transactions http://t.co/PPMcszdqXL
David Tomera C.
3 Mar 15 14:08:32
RT @ReutersBiz: What would happen if #Apple joined the Dow? Data Dive: http://t.co/hVA7WDU4qb $AAPL http://t.co/Bq43tdqKKH
anthony ciofani
3 Mar 15 14:08:31
Hope I win this #iPad mini from @ValueWalk! $AAPL http://t.co/PKFfHeahvF http://t.co/VoIIRthH2f
Louis Scotti
3 Mar 15 14:06:51
Flatiron Building in NYC. Iconic iPhone 6 Wallet Case #nyc #gift #iphone $aapl http://t.co/dMoIng7rrF
Fede flores
3 Mar 15 14:05:59
Abriendo 100 largos de $AAPL a 129.33USD IDOP174084 vía http://t.co/EzL5HFpnvc... http://t.co/0ii8ohXPKk
Trent Blair
3 Mar 15 14:05:55
RT @TickerLensAAPL: Apple (AAPL) Watch Average Price Seen at $550+; Top Model Could Sell for $7500+… http://t.co/nAw3wbFFNU $AAPL
FrenchRedFrog
3 Mar 15 14:05:38
RT @nanexllc: The dirty little secret of Price Improvement - Orders than never execute. Citadel's cancel rates in $AAPL: http://t.co/cCoRZb…
Financial Iceberg
3 Mar 15 14:04:10
Apple Pay: a new frontier for scammers $AAPL #aapl http://t.co/6VxO3w9o4N
Fede flores
3 Mar 15 14:03:29
Cerrado 10 largos de $AAPL a 129.29USD perdiendo -0.2USD IDOP174083 vía http://t.co/fUA1itmvx9... http://t.co/MOzbw08Go5
Apple News $AAPL
3 Mar 15 14:03:21
$AAPL Hands On: Astropad (OS X, iOS) http://t.co/FSO2ZSLnAs @MaximumPenny
Osiris Trading
3 Mar 15 14:03:07
@72olds Had a great run the last month and half, needs to cool down a bit. $AAPL is one of those you can trade everyday but need to KNOW it
Carolyn B Miciano
3 Mar 15 14:02:58
Master precise entries and exits for your trades http://t.co/eFT4rNbmzJ $AAPL $GOOGL $PCLN
Kitetoa
3 Mar 15 14:02:43
RT @nanexllc: The dirty little secret of Price Improvement - Orders than never execute. Citadel's cancel rates in $AAPL: http://t.co/cCoRZb…
DED™
3 Mar 15 14:02:05
RT @ReutersBiz: What would happen if #Apple joined the Dow? Data Dive: http://t.co/hVA7WDU4qb $AAPL http://t.co/Bq43tdqKKH
Sara
3 Mar 15 14:01:42
THE BINARY OPTIONS COMPETITION WIN $100,000 http://t.co/QEwKoFWWF1 $LNKD $AAPL $GOOGL $GOOLD #bones #options #forex #forextrading #Bonus
Jeff Sandene, CFP®
3 Mar 15 14:00:04
Nasdaq 100 down slightly -0.54%, while $AAPL +0.21% & $GOOG +0.40% were green for the day. $QQQ
AAPL Stock Alerts
3 Mar 15 14:00:03
Apple's Dirty Little Rare Earth Secret http://t.co/goZWdqyIkK $AAPL $ADI $AVGO $GWMGF $INTC $LLTC $LYSDY $MCP $MXIM $NOURF $REE $SWKS
Danizilla
3 Mar 15 13:59:56
Hope I win this #iPad mini from @ValueWalk! $AAPL http://t.co/b3BBP5yfBh http://t.co/cm1y3esoSZ
Darl van Dijk
3 Mar 15 13:59:49
RT @ReutersBiz: What would happen if #Apple joined the Dow? Data Dive: http://t.co/hVA7WDU4qb $AAPL http://t.co/Bq43tdqKKH
Inside Fitness
3 Mar 15 13:59:34
RT @GetInsideApple: Documents describe "three key features" that will sell the new Apple Watch, i... https://t.co/QOSKgEcfIp $aapl #apple h…
[ Smartphone News ]
3 Mar 15 13:59:34
RT @GetInsideApple: Apple passes Samsung in smartphone sales in the fourth quarter with help of t... https://t.co/UR6Z0wg9EP $aapl #apple h…
Seth Andrew Azzuwut
3 Mar 15 13:58:52
RT @GetInsideApple: Apple passes Samsung in smartphone sales in the fourth quarter with help of t... https://t.co/UR6Z0wg9EP $aapl #apple h…
MarketWeight
3 Mar 15 13:58:44
@gubbmintcheese But, it's an $AAPL spatula. So there! It's a buyback market squeeze. Corporations are taking themselves private. :-O
MacHash
3 Mar 15 13:58:10
Analyst Gene Munster guesses Watch pricing, thinks only 10,000 Editions will… http://t.co/lg4WP1bEzc #9to5Mac $AAPL http://t.co/2e5Wg8eNHv
Seth Andrew Azzuwut
3 Mar 15 13:57:46
RT @GetInsideApple: Documents describe "three key features" that will sell the new Apple Watch, i... https://t.co/QOSKgEcfIp $aapl #apple h…
TEAM GMB2015
3 Mar 15 13:57:35
Reuters: RT ReutersBiz: What would happen if #Apple joined the Dow? Data Dive: http://t.co/Qjk0K7bEgA $AAPL http://t.co/PGO73ftnbw
Edmund Tayao
3 Mar 15 13:57:17
"@MetisFacility: "@ReutersBiz: What would happen if #Apple joined the Dow? Data Dive: http://t.co/nnPPCyqNDb $AAPL http://t.co/1D9HVQ2OHv""
♨️|$T€ph@n➰|♨️
3 Mar 15 13:57:10
RT @ReutersBiz: What would happen if #Apple joined the Dow? Data Dive: http://t.co/hVA7WDU4qb $AAPL http://t.co/Bq43tdqKKH
				
				
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.