WUBA is turning down at Ellipse point. Target 50.75 with stop at 60.50.
Following up on our November 23 note of long CMG and pair trade of long CMG and Short SBUX, we would be adding to the trade.
The driver for the idea is CMG that turned up at the Ellipse turning point indicator and showing improvement in its money flow. For those that run long only, we would be a buyer of CMG, and for those running long/short, we like the pair trade of long CMG and short SBUX.
For an aggressive trader, we would be long the Emini with a stop just below the trendline at 2620.
The Long & Short Of It - Short VLO and PSX
Pair Trade Idea - Long DIS Short NFLX
Both stocks are up into resistance zones and good entries for a short.
We are going short RBS today with an initial downside target of -15% and a potential target of -35%.
Metal and mining ideas.
We last highlighted the biotech group on November 28 and had mentioned the fact that the intermediate-term uptrend of the XBI remained in place and that the momentum factors were positive. Not only do we get very good upside targets in the XBI from here, but there are also a number of very bullish stocks in the group that we feel investors should be considering as longs. Some of these stocks have recently emerged from bullish base patterns or have completed near-term consolidations and look poised for a strong move higher. Even Amgen which has been going sideways for almost three years has broken out to a new all-time high!
This report includes charts of: WYNN, LVS, Wynn Macau, Sands China Ltd., MLCO - NASD Stocks, Galaxy Ent.