Been trading lightly lately and practicing for our Small Account Trade Challenge. You will be able to watch me live-stream my desktop and trade day to see how I setup, scan and trade a small account geared towards short selling on a day traders account.
Summer is winding down and as we all get back to the markets and prepare for the holidays I wanted to say how lucky we all are to be alive in a time and age where we can trade the markets from out desktops/cellphones from anywhere in the world at our fingertips.
The world is much smaller place now and I have noticed this to be the summer of China runners that pop up and hold much longer than they should for the trash they are. Maybe it is because Trump visited there and all the China news on them but either way, respect the trend on those tickers. Israeli ones as well. They do not move like american tickers.
I always have a plan for long or short on any chart I am looking at. – KEEP IN MIND I AM A NOVICE- do your own due diligence. I am always studying new things to give me a little more edge over the next trader.
I am a support and Resistance Trader, mostly! I plot out support and resistance lines on the Weekly/Daily and then the Intra-day with a nod to the current last few days trend and the overall trend it is in. That helps me play the hand I am given on the next trade session.
I am not trying to call price targets or trends and swing plays for days or week (though they generally go where I figure they will anyways so I am looking to become an options trader as well), I just look at charts that have range to play or are at break down or break out levels. But each day is new on the market and a trend can change and break your chart so be prepared for that, long, short and sideways. Exit when the trend breaks or you don’t know why a chart is moving the way it is moving. Wait for a trend to show up.
-Some questions you should ask yourself before putting on a trade or taking a trade off-
Do your own DD and have a plan for each morning, long or short and be aware of the market you are in, bear market, bull market, how is the VIX today? the SPY? is the ticker you are planning to play in the hot sector, cold sector? What is the most recent catalyst? How is the volume? Is there enough average shares traded daily to get in and out with ease? 1 million average volume is about the minimum.
The day before was the ticker barely holding up, did the stock close strong? Was the strong close just shorts covering or is it organic want and desire from true longs who are now bag holder to defend this price point and zone? Are you playing a breakout play, a wash out then buy the bottom? LOD bounce and long? Resistance deflection and shorting the pull back, ETC ETC? Know your patterns that you like to play and what kind of stock – in which sectors – and the catalyst that drive price imbalances on them to get the best edge for you skill set. -Trade Safe-
Cash is also a position and the safest position to be in. When it doubt-pull out-reassess and re enter the proper hole/set-up =P
I usually like to chart the not so obvious hot play of the day but sometimes they are too hot not to play for the follow up the next day and this is my watchlist with my notes to refer to during the trade day!
This is a continuation from the 8-24-17 watch-list. below are my notes from that day!
ITCI: Popped on some good news. has losses, struggled to keep those massive gains. looking for a test of the 16.50’s to 18’s for a short entry if it can get up there to test. if not i will wait for an intrday test of the high 15’s to short into that fails to make a new high. looking for a full give back once the volume dries back up.
Notes for 8-28-17 it got to where I thought it might and gave me a great short entry when it did. I was busy with $FENG and missed that 16.50’s entry and fade i wanted. I think it is still set up and semi pulled back and sideways long enough to watch for a new entry on this.
Volume: 1.2 mill
Average Volume: 373k
Float: 36 Mil
Shares OS:44.6 mill
Income: -102 mill
Insider/ Institutionally owned: 28ish % 45ish%
and this after shitty earnings. so i doubt the pop lasts on this bs news
A- Grade Setup: insiders/tutes to high for me
This is a continuation from the 8-24-17 watch-list. below are my notes from that day!
Sector: Internet Information Providers
these were my notes from the 8-17-17 watchlist
FENG: Liking for an overhead test and fail around 4.36 to 4.50’s area with a nod to the 5 buck test area. (8-23-17 so it got to the reach area of 5’s but it needed a few chat-room tards to pump it to their chat rats and blind buy the pos and stop the break down. seems like an offering incoming but have to wait and see. China tickers are straight riding dirty! cant trust them hoes, trapping!)
Notes for 8-28-17 This has been held up be a second round of pump tard long chat rooms. and is not sitting on some way back 4.50’s area consolidation. Should snap off but it could go either way. waiting to see how this finishes out. feels done, but it is China after all
Volume: 2 mill
Average Volume: 373K
Float: 31 mill
Shares OS: 63 mil
Income: 6 mill
Sales: 213 mil
Insider/ Institutionally owned: ? and ? finviz let me down lol
Catalyst: Loan extension articles and E/R reports of positive E/R
A Grade Setup: Could almost be an A+ to a F since I can’t see the Ownership on it
Looks bullish on the Chart but if you read the catalyst and seen the intraday moves you can see it is pure MM bs pushing price up before the Distro of the dilution shares about to hit. typical moves on offerings these days. run up before the drop
Volume: 372k way to low to trade yet cause it is low enough for algos and MM to fuck with
Average Volume: 796k still to low but close enough to get into when they ramp this on the fake pop up and then short back. good for me
Shares OS: 51 mil
Income: -122 mil. lol thank you come again! lol
Sales: 165 mil. so these bag of dicks can’t even turn a profit even with sales. and borrow more money to try for another product which is not ready for a loooong time and no guarantee it will get FDA approval.
Insider/ Institutionally owned: .50% 92.50%
Though this came on the heals of losses And then taking a private placement for 75 mill to start at 11.24 and then 75 million more later. so i suspect they will push this up, distro the shares push price down and rebuy the second half and then ramp price again on some more bs fluff and distro those shares out as well. waiting to see how retail bites on this bad news so far.
that is a damn low price they were sold shares at. They have no intention of holding them, the SEC filling talks about how they are able to seel immediately upon receipt of them with no lock up period.
Grade Setup: C+ only because of the Tute ownerhship% Besides that this has the making of a great dump pretty soon.
Sector: Apparel Stores
Super interested to see how this acts at around 13 to 14. super bullish the last little bit of its moves but it has some RES to over come soon.
Volume: 13 mil
Average Volume: 4 mill
Shares OS: 68 mil
Float: 67 mil
Income: -18 mill
Sales: 3.3 bill
Beta: .74 but has some over blown moves last few days
Insider/ Institutionally owned: .40% 0%
Catalyst: Telsey Advisory group upgrade from 11 to 12 from three months ago of 13 to 15 so basically still bullish but downgraded on how far they thank it will go. tricky cock suckers. Citi Group neutral to buy. sounds like bs to me
so after saying second qtr losses widen they literally had 40 plus news pieces put out to counteract the bs bad news on it lol. fukn scum bags
Grade Setup: A+ Set up for me. Chart looking interesting and they are pushing this thing with news. when it stops i doubt the gains hold. low insider and tute ownership, fair volume fair float. Front back burner play to watch set up. if it pops and holds, oh well, i lost nothing but some watch time on it. but i will watch this for about a week or so then re evaluate it.
$PSTG: at perfect over head res of 15.00 may break out and hit 16’s with the new CEO news but the losses are soo fukn bad. Back burner as fuck for me
$ADMS: what is that FDA approval really worth with all those loses they make. tute % waaay to high, but id still peek in on this one
$BW: trying to catch itself a little after that sick drop. Yet to be seen how it reacts now that it is in new territory and beat down. doesn’t feel like a dip buy at all. waiting to see if it can come back up enough to get a short on it. but for now it is dead to me till it finds itself.
$CBAY: looking like it might drop out of the bottom of that channel. volume decent enough to let it happen as well. To much fuckery on it after that offering. stock is a total piece of shit overall anyways.
$CYH: Still got that fuckery going on. they trying for that 8 break to 9 so bad they can fucking taste it. lol 99% tutes/insider. mmm yeah go fuck yourselves.
$THC: looking like it wants to restest that OH 50 and 200 again. wathcing it for how it arrive there to find out if it is a short or gassed out and ready to get Mc’Gregored lol