Been trading lightly lately and finger fucking CBAY HK and as needed AMRN OCLR so no new watchlists.
Kinda taking the summer off, but it is hard to stay away!!
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 them out on the weekly/daily and then the intraday with a nod to the current last fews days trend and the overall trend it is in. but I play the chart handed to me on trade day.
I am not trying to call price targets or trends and swing plays for days or week, 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.
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 milion 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!
Sector: Scientific and tech instruments
FIT: Liking this for an either way play if it can get the volume to break over that 6 mark and test the 200 sma but it most likely won’t hold. it is in the down trend and only has earning news to run it up.
Volume:24 mll a little too high for me
Float: 122 mill what i like to see for short with this kinda set up
Income: -173 mill pos
Sales: 1.96 bill
Insider/ Institutionally owned: 0%ish and 61%ish
Catalyst: earrings and over 50 useless articles over 3 days. non stop push to get this noticed.
B Grade Setup: To hgh on the Tute ownership for me but float big enough to help fuck them anyways even with all their “buddies” writing fluffy bitch ass news!
Main watch for me for intraday set ups to play long or short.
Noteable Mentions: to lazy to chart obvious both way plays that I will draw support and res lines on in my platform in the morning after watching pre market action and let price action and volume dictate what kinda play i want to enter based on what the chart brings to the table that day!
AGI huge float. so sales. pop worth watching to short.
ANGI pop is there at over head res and can’t sustain this bs. but price action to dictate when to short.