Welcome to the recap of Wednesday's MarketWatchers LIVE show, your antidote for the CNBC/FBN lunchtime talking heads. Listen and watch a show devoted to technical analysis of the stock market with live market updates and symbols that are hot. You'll find the latest episode here.
Information abounds in our Monday/Wednesday/Friday 12:00p - 1:30p shows, but the MWL Blog will give you a quick recap. Be sure and check out the MarketWatchers LIVE ChartList for many of today's charts.
Your comments, questions and suggestions are welcome. Our Twitter handle is @MktWatchersLIVE, email is firstname.lastname@example.org and our Facebook page is up and running so "like" it at MarketWatchers LIVE. You'll also find archives of our shows on our Facebook page and YouTube channel. Don't forget to sign up for notifications at the end of this blog entry by filling in your email address.
** ANNOUNCEMENTS **
Friday (11/10) - Erin will do a workshop on basic chart patterns. Not only how to identify them, but what the psychology is behind them and why they form. She'll also help you calculate minimum upside/downside targets.
Wednesday (11/15) - Greg Morris, author of "Candlestick Charting Explained" and "Investing with the Trend". Both books are available in the StockCharts Store at great discounts!
What Happened Today?
Everything StockCharts: Today we started the show with StockCharts.com developer/trader, Bill Shelby. He spent some time showing us how the new "Price Alerts" work. For detailed information on price alerts, you'll want to listen to the first 10 or 15 minutes of the show. Here are a few screenshots to help you navigate there:
You can enter the symbol. Determine how you'd like to be alerted and then select when the alert should go off. You can either type in a particular price or you can use the percentage feature and it will calculate the percentage for you.
SCTR Reports: After the second market update, Erin went over the calculation and definition of the "SCTR" or StockCharts Technical Ranking. It is less a short-term indicator, weighted in the calculation toward the intermediate and long term. Tom explained how you can pull up your ChartLists and sort them using the SCTR. In the Pro Control Center, you'll find a link to "SCTR Reports".
Ten in Ten Before One: In this regular segment, Tom reviews ten charts in ten minutes with Erin's comments and comments from the Twitter "peanut gallery" peppered in there. Send in your symbol requests via Twitter (@mktwatcherslive) before the show and we'll try and add them. If we missed them this show, we have many of them in the queue for Monday. Symbols reviewed today: KLDX, AMLP, JD, QCOM, AA, CLVS, SSRM, SNAP, ATEN and RHT. You'll find all of the charts in the MarketWatchers LIVE ChartList, located at the top of the MarketWatchers blog homepage.
What Would You Do? In this regular Wednesday segment, Tom and Erin ask YOU, "What would you do?". Today we looked at VFCorp (VFC). Interestingly, Tom and Erin had slightly different views. Tom was bullish VFC and considered it a likely BUY. While Erin agreed with his analysis, she told everyone that based on her trading philosophy she wouldn't be a buyer. The PMO has just triggered an overbought SELL signal and we could be looking at a descending triangle pattern which is bearish and calls for a breakdown. Her chart is below. We asked viewers to chime in via the LIVE chat box to see their opinion. The majority are with Tom on it being a buy or nearing a buy for them. We've opened a Twitter poll so you can tell us what YOU would do! The current Twitter polls are here.
Mailbag Segment: Each show Erin and Tom answer questions received via Twitter, Facebook and Email. Today Erin showed everyone how to get to the link at the bottom of the MarketWatchers LIVE blog recaps to find our archives in Facebook and YouTube as well as how to get her PMO scan and find Tom's blog. You'll find those "helpful links" at the bottom of this article.
Tune in on Thursday at 12:00p - 1:30p EST on 11/9 for more 10n10, sector spotlights and more on technical scans!
Helpful MarketWatchers LIVE Links: