Been trading lightly lately and practicing for our Small Account Trade Challenge. You will be able to watch me live-stream my desktop 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!
Man I have been stalking this one for weeks. Volume falling off and i wanted to short up in the 18’s “if” it could get there. it got there and then some. it is in new territory up till the 24 area from the past, so i will keep watching for some intrday weakness to get short on this bitch.
Volume 600k getting to low for me to want to be in or keep watching
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
Sector: Technical & System Software
Volume: 11 mill
Average Volume: 3 mill to 4 mil
Shares OS: 150 mill
Float: 77 mil
Income: – 420 mil
Sales: 600 mill. what a POS that it cant make money with those sales.
Insider/ Institutionally owned: 4% 70 % insiders selling out.
Catalyst: Morgan Stanley PT from 19 to 22 http://www.marketwatch.com/story/nutanix-heads-for-first-1-billion-year-shares-rebound-2017-08-31?siteid=yhoof2&yptr=yahoo
Grade Setup: A just waiting to see where the Short shows up at. there are so many spots and I can wait for them all.
continuation from the 8-24-17 watch-list. still watching it based on the same ideas as what was typed up on it back then. been about a week and re evaluating it. still wanting to see how it acts at 14’s
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: 3 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.
Today’s hot runner. you should already know all about it so i wont bore you here, you can go look it up yourself. waiting to see what retail wants to do with it 2 morrow and wait for a decent short on it. level 2 and price action to guide my choices.
coming SSR and looking at it around 13.50’s to see if there is a short there on it. Tutes own to much to really get my attention.
Been pretty bullish for a few days. we been stalking it for a short. waiting to see if it ever shows up.
Sector: Internet Information Providers
not sure what is going on here for the push up but it is low tutes and insiders and normally bs volume. i have this on a side main watch today.
The entire Property & Casualty Insurance has been smoked with the IRMA hurricane. look for any of them to give you a good short op on them. pick one that is got volume on it and is not crowded to get down on.
$XOMA was stalking it for a bit and now Wedbush gave it an upgrade from 9 to 19. gave it some life. see if the bulls can hold this fat girl up! Damn good chance it hits 19!
$CHRS still on my list. Waiting to see it get some volume and give it up. would like to see 16’s first but shit give back is give back.