Ao minuto: EUA atacam Irão. MNE iraniano diz que país "reserva todas as opções" para se defender

[Camisa Roxa]

On December 19th Sears (S) gapped down to 24 and along with the entire market bounced back that same morning. Now I had thought that S was already weak and basing below support of late and if anything was headed lower.

I was not entirely enthralled by the daily setup but if nothing else, this stock, based on the daily, weekly and monthly was showing major relative weakness. Not too much fight left in this baby.And to be honest, if I am going to short a stock, even intra-day, I prefer bearish direction in all longer timeframes.

Remember. It's the people who are looking at longer timeframes that are making up a good part of the selling and buying during the day. Sure a lot of people are making decisions based on fundamentals. And if they are net sellers, you will see this played out in the longer term timeframes. (Trading The Pristine Method Part 1 Axiom: We don't trade stocks. We trade people.)So S certainly was having its share of problems. I mean you did not have to know that the economy was soft, that the financing side of the business was weak.

In fact I'm sure that most major investment banking firms had fifty page reports discussing the ratios of disposable income to consumer spending and the rate at which they expected this to increase or decrease and its affect on demand for consumer durables and non durables. Yadda, yadda, yadda.

But guess what? As we used to say, that and thirty five cents won't get you on the subway. (Of course when we used to say that, the subway was only thirty five cents.) In any event here's what was really going on with S.On 12/2 we had a novice gap into a doji. (Bearish.) We pulled back for several days just to where you'd expect a Pristine Buy Setup. On 12/9 we hit the sideways 20 day MA and should have gone up. But we did not. This was another bearish sign.

The monthly had shown a possibility of having made a climax low but the weekly was rolling over back down. On the 12th an attempt to rally was squelched and we went lower again. On the 16th we had a decent rally that lasted a day. Resistance was waiting right where we had rallied to previously. On the 18th we broke down and were now trading below the MA's and below the recent pivot. This stock was in trouble again. On the ropes so to speak.

How much lower it would go I would not guess but it was down from 60 in June and still no one wanted it. I felt there was room lower at least intra-day.On the 19th we gapped down as I said before. We rallied right back into resistance on the five minute chart. As prices became entangled in the MA's on the five, I typed into the Advanced Stock and Derivatives Trading Room that S was setting up as a PSS on the 5 with a weak daily. S was about to produce a holiday rebate for me.

Truthfully, this trade felt like it was happening in slow motion. We just started down. Mass liquidation. Bids barely were raised at all the entire time. The low was made at approximately 12:10 at 23.14. A green tail formed. I placed my stop over the high of that bar and got taken out with over a dollar profit.If you look at the five minute chart there was only one bar which one might have even thought of covering before that which was the 12:00 bar. But the two prior bars were so narrow, I felt this was not a valid reversal at all.Where did I find S in the first place? Well every night I scan the NDX and SPY and several scans from Pristine ESP™ such as Pristine Buy Setups, Sell Setups and Daily Basing Patterns.

So I practically know what all these charts look like and can stalk them well in advance.That afternoon I jokingly mentioned in the Advanced Stock and Derivatives Trading Room that S had paid "me" on a day when most consumers were paying "them". In fact looking back, it's like I was given a gift certificate to shop at Sears that probably couldn't be fully redeemed for years to come no matter how many Kenmore washing machines and state of the art power tools I might buy. I saw the softer side of Sears.