Oil and Gas Setups for Monday

I really like the way many of these charts are setting up. Of course, a lot of factors will determine whether we see a move in the oil/gas sector, but here are some breakout candidates that I’ll have an eye on tomorrow..

• $DPTR, $END, $EPEX, $GEOI, $AREX, $ATPG (see this post for more details).
• @fortune8 twitted this list of many oil/nat gas stocks testing resistance levels..  my favorite specs on the list include (daily charts):
  • $BAS
  • $DVN – testing MA200 and MA50
  • $ERF – testing horizontal resistance and MA50
  • $HTE – narrow bollinger bands with potential ADX crossover
  • $NXY – Could open up with a move through 21

Tags: AREX, ATPG, BAS, DPTR, DVN, END, EPEX, ERF, GEOI, HTE, NXY

The Case For DPTR / Nat Gas Stocks

DPTR experienced one of the largest volume moves it has seen in over a month, and I want to see more.  Note: today was the best day to play – nice scalp as it moved through MA20.

Chart: Chart looks damn bullish to me, but it MUST get through current resistance levels before I take a position.  I love the tight bollinger bands, the move through MA20 and trendline resistance, the volume, etc. etc.  Short term target – 2.20, then 2.50. (click chart for larger)

Company News: Well, Motley Fool put out an article stating that its members now rate DPTR a 4 star stock instead of a 3 star.  But, that can’t be the cause of today’s move.  The timing was off, for one thing – the move happened at 1:30 and the article was published hours before.  I also can’t imagine that Motley moves markets that directly anyway.

Could this news move the stock up 10%?  Hmm. I’m thinkin not.

(more…)

Tags: AREX, ATPG, DPTR, END, EPEX, GEOI, SGY

Coal Setups

Coal, like many industries,  has been controlled by the bears since last September.  For 2009, however, we have seen less downside and more consolidation.  The tighter the consolidation and the longer it lasts, the higher the likelihood that we’ll see some kind of breakout either up or down (GLD in November, BAC in December).  I like to keep an eye on consolidating industries and enter on a breakout.  We’ll see what happens, but here are a few that will remain on my screens…

MEE – Narrowing bollinger bands on symmetrical triangle.  Nice volume Friday on news. Needs to break through top trend line before I’m interested.

BTU – horizontal resistance at $30.

ACI – Another consolidation period represented here.  Interested over $17

PCX – Lots of news has spiked the volume lately, but the trend can’t seem to shake the bear.  Only interested on a very short term long breakout.

FCL – Nice volume increase last week.

JRCC – very tight bollinger bands.

Tags: ACI, BAC, BTU, FCL, GLD, JRCC, MEE, PCX

Ready 4 Oil Trade

I’m preparing myself for a quick scalp Friday morning based on earnings reports from XOM and CVX.  If the reports are positive, I’m looking at XCO or CLR. I’m just comfortable with these and they have strong intraday moves.

If negative, I’ll probably look at DUG.
What the charts say:

Looks like DUG is turning bullish – meaning tomorrow’s report from Chev and Exxon would be down. But, the possible bullish moves is part of a larger bear move in DUG.  That, to me, could imply that oil is about to head up.  Yes, I’ve supported both sides.  That’s why I have a play for both sides of the coin.  DUG for downward pressure and CLR or XCO in a long direction (maybe DIG).

Tags: CLR, CVX, DIG, DUG, XCO, XOM

Why I Bought CLR

I have been playing CLR for some time now and here is a quick chart basically describing why I bought today:

Click to enlarge

CLR Daily 1_26_09

Tags: CLR