My Stock Trading Plan for Thursday November 4, 2016.
Good morning Wall Street traders! The election is near, it Payroll day… and will the market continue to sell-off? Even more importantly… can I get to the pool before the rain comes – soooo beautiful during trading hours and then lightening thunder and rain right when I get there – EVERYDAY.
My trading plan today (like my post market report last night) will be very brief… both because we were up all night with equipment and software upgrades and because from now until the election not much has changed….
EXCEPT…
I pivoted late day to a contrarian play and put my money where my mouth is on it and took $XIV trades with BOTH my small day trade account and large swing account. I may or may not move in and out of that position! Stay nimble!
THE MARKET CAN STAY….. you know the rest.
Morning Momentum / Yesterday Gainers:
Prior to election I doubt I will take a morning momo play… after election yes most days I do… but morning momo is going to be a tough play IMO – that is was I have mostly sat on my hands in the morning.
IF YOU WANT TO BLOW UP YOUR ACCOUNT… MESS UP MORNING MOMO!!!
It is a bit early to post momo plays so I will post them as I see them of interest in the room and on my Twitter feed as time allows.
Anyway, from yesterday I am following:
$IQNT, $MPG, $TCCO, $EVI, $ENOC, $DRYS – Shippers and Twitter and others…
Crude Oil – FX $USOIL, $WTI | $USO $DWTI $UWTI $CL_F Etc….
EPIC the Oil Algo new algorithmic calculations are not published yet for the new price / time zone… I wouldn’t expect them until before market open Monday because the price has done NOTHING since it dropped in to it’s new zone… it did slice right through a target on Wed at 10:30 AM (red circles) and looks like it will do the same for today’s 1:00 PM algo target. You can see on the chart how the algos are trading up to the algo trendline (red dotted line) and it has done not much else – but it is UNDER that red dotted line – caution IMO.
https://twitter.com/EPICtheAlgo/status/794514387033788422
Gold, Silver, Miners, Metals… ($JNUG, $JDST, $GDX, $NUGT, $DUST, $GLD, $SLV, $USLV etc…)
My position is intact… prior to election downdraft I was looking for downdraft (one) in Gold and Silver (if you go back to my posts you will see consistency there) and I also am prepared for Gold and Silver among others to take off… I am watching. Watch $FXY.
Natural Gas ($UGAZ, $DGAZ… etc)
No clue – no clue at all – it should be running. Just like silver should be IMO.
Volatility $VIX ($UVXY, $XIV, $TVIX etc)
I think $VIX insurance was a tad over-done yesterday… but of course I have been wrong before – so I took a contrarian trade in $XIV and we’ll see. RR was good and I have room in my win rate to fail once in a while:)
US Dollar Index $DXY $UUP and $HYG, $TLT etc..
It is threatening support – I would be cautious. You never know what kind of manipulation is coming over next few trading days – I AM WATCHING IT like a hawk. The dollar, credit, $HYG, $TLT, $DXY, China $CNY and other currencies etc…. I am watching very close.
This is such an interesting play for me now – I was interested until recently – but now I am ESPECIALLY with some big name tech companies TANKING.
In Summary… between now and the election it is all about being nimble for me.
The trade room could get really exciting or be the most boring few trading days on record!
Watch the room alerts and my Twitter feed for updates!
Good luck and stay blessed! And please… bank bank bank.
Curt