My Stock Trading Plan for Friday Dec 9, 2016 in Chatroom. Small cap oil, Casino stocks, Tech, Retail, $IDXG, $AEM, $TBIO, $GOLD, $GLD, Miners, $GDX, $SILVER, $SLV, $USOIL, $WTI, $USD/JPY, $SPY, $VIX, $NATGAS … more.
Welcome to the Thursday Wall Street trading short day session!
Important Notices:
$UWTI $DWTI have been resurrected as $UWT and $DWT – this is a massive thing for my trading to say the least. http://uk.reuters.com/article/usa-investment-etn-idUKL1N1E31ZB
Oil meetings are this weekend so everything oil related is on high watch!
Current Holds:
$CBMX, $JUNO
Market Outlook:
Casino stocks on watch!!! Wash-out snap backs! $WYNN $MPEL $MGM $LVS
Dips on $GOLD are NOT being bought now vs.selling the rips (so this by default plays in to $SILVER). The Trump train / reflation train.
$NATGAS has come off some from important resistance I alerted.
$USOIL $WTI is dialed in with EPIC the Oil Algo perfect and price is on its way to EPICs new targets! so machines have been on since mid November break-out (so this makes trading oil related easier for me).
$SPY has continued its upward trend. Watching markets for a pull back (as noted previous) sometime near or just after Christmas (it seems we have a Santa Claus rally).
And that brings me to momo stocks and rotation therein, looks like a fun two weeks setting up here. So these remain on high watch.
I am also watching Tech and Retail.
These algorithmic charts will not be shared in the room or in this morning newsletter indefinetly (and without the algo newsletter they don’t do you a lot of good). While in beta for each they will be shared at times in the general room and in general watchlists etc but not indefinitely and not completely.
Momentum Stocks (Market Open and Intra-Day):
I do trade morning momo stocks (at times), but I do avoid risk – so often I avoid the first 30 minutes (gap and go) and trade momentum stocks later in the day after the wash-out looking for a snap-back. Just prior to open and shortly after open I post momentum stocks to the trade chat room (and Twitter if I have time).
Some of my Favorite Set-Ups:
(1) Momentum Stock Wash-Outs for Snap Back, (2) Bad News Wash-outs on Stocks with High Institutional Ownership, (3) Getting on the Right Side of a Trend Change and scaling in my position and (4) Our Algorithm Set-Ups.
The momentum stocks (from previous days and morning trade) I continue to watch through the day for indicators that allow a trade.
Morning Stock Watch-Lists for my Favorite Set-Ups:
(1) Pre-Market Gainers Watch-List: $IDXG 63%, $AEM 46%, $TBIO 38%, $SWC 21%, $FGP 13%, $LVS $MBLX $FNSR $MPEL $WYNN $JCOM $AVGO $CCJ $SSH $BIIB $MGM I will update before market open or refer to chat room notices.
(2) Pre-market Decliners Watch-List: I will update before market open or refer to chat room notices.
(3) Other Watch-List: $WYNN, $MPEL, $MGM, $LVS, $AGIO (recent wash-out), $SGY (recent swing), $CBMX (current swing), $JUNO (current swing), $ANF (previous wash-out on news), $SKLN (previous wash-out on news), $URBN (previous wash-out on news).
(4) Regular Algo Charting Watch-List: Gold $GLD, Miners $GDX ($NUGT, $DUST, $JDST, $JNUG), Silver $SLV ($USLV, $DSLV), Crude Oil FX: $USOIL $WTI ($UWTI, $DWTI, $USO, $UCO, $CL_F, $UWT, $DWT), Natural Gas ($UGAZ, $DGAZ), S & P 500 $SPY ($SPXL, $SPXS), US Dollar Index $DXY ($UUP), Volatility $VIX ($TVIX, $UVXY, $XIV)
(5) Upgrades: I will update before market open of refer to chat room notices.
(6) Downgrades: I will update before market open or refer to chat room notices.
Stay tuned in Stock Chat Room for more pre-market stocks on watch.
Regular Trades:
S & P 500: $SPY ($SPXL, $SPXS)
Outlook: I was looking at a possible pull-back between now and Tuesday but that may not happen. As pre previous and our algorithm call before election…. My bias is still to new highs but I am looking at a pull-back Christmas / Early 2017.
My Trading Plan: Right now I am trading $XIV instead of $SPXL or $SPXS. I do this because we are in a trend of crushed volatility. Now, when that changes and volatility starts to rise again (even if $SPY is rising at the same time) then I’ll flip over to trading $SPXL and $SPXS instead of $XIV.
Volatility: $VIX ($TVIX, $UVXY, $XIV)
Outlook: Looking for possible record lows before Christmas.
Watch for volatility to rise on a trend – even if $SPY is still rising – volatility is a great indicator for what’s around the corner.
My Trading Plan for Volatility: I will likely follow that trend with $TVIX $UVXY $XIV buys at range pivots / pending price action, volume and other geo events.
Currencies and Other Global Markets: $DXY US Dollar Index ($UUP US Dollar Bull, $UDN British Pound, $USD/JPY, $FXY Japanese Yen Trust, $CNY China, $TZA, $SMK / $EWW Mexico Capped ETF)
$USDJPY Did warn em. Break out. $GLD $GDX $NUGT $DUST $JDST $JNUG $DXY
US Dollar may come off in to downtrend soonish though – seeing some areas of global markets that are becoming interesting here.
Pre previous: Inflection point. No clear direction. $USD/JPY not backing off yet. Our $DXY algo had 100.50 as a PT so I’m watching. Lots of fundamentals at work here and geo.
My Trading Plan for Currencies / Global Markets: Waiting, waiting, waiting.
Gold: $GLD ($UGLD, $DGLD). Miners: $GDX ($NUGT, $DUST, $JDST, $JNUG)
$USD/JPY Per previous – Caution Gold bulls.
My Trading Plan for Gold:
Waiting for a long trade confirmation in Gold.
I haven’t started to take trades yet because I am waiting for “price – trigger – trade” set-ups. I will start chewing around the edges of stocks like $NUGT and $GLD likely – very possibly today. The idea is to get on the right side of the trade and trend.
Other equities I like for Gold Trade: $AUMN (penny stock)
Silver $SL_F: $SLV ($USLV, $DSLV)
Same as Gold – we’re waiting for a decision from market so we can get algo targets.
My Plan for Trading Silver:
Per previous;
Same as Gold, I’m waiting for the “price – trigger – trade” set-ups… I am going to start chewing around the edges of stocks when set-up confirms like $USLV and $SLV attempting to get on right side of trend trade.
Other equities I like for Silver trade: $AUMN (penny stock).
Crude Oil FX : $USOIL $WTI ($UWTI, $DWTI, $GUSH, $ERX, $DRIP, $ERY, $USO, $UCO, $SCO, $UWT, $DWT, $CL_F)
Per previous:
Crude is trading within its range. Until it breaks its recent highs it isn’t bullish and until it breaks its recent lows – same thing. So I will trade the range if at all.
Outlook: Per previous – trading range. There are oil meetings this weekend again so watch close. I will be watching small cap oil very close Friday and Monday!!!
Trading Plan: Oil equities:
Other Equities I like for Oil or Energy Trade: Tape / Chart – $ETE, $RIG. High Short Interest – $CRC, $EPE, $WLL, $RES, $JONE, $AREX, $REN, $CLR, $HP, $ATW, $SGY. Fundamentals: $EOG, Pipelines – $XLE: $HEP, $SXE, $KMI, $DPM, $TGS, $ENB, $EEP, $PTRC, $HGT
Natural Gas $NG_F : $NATGAS (, $UGAZ, $DGAZ):
Hit resistance as I thought and alerted. We’ll see what happens.
Study:
Watch that $SKLN wash out snap back trade on YouTube I posted if you want to learn your indicators!
Free scanners to find momentum stocks that you can easily review charts of for indicators that bring probability of your trade being successful up considerably. These are not useful for first 30 minute market open gap and go type plays (you need a good momentum scanner, level 2, and best to have hot-keys for the first 30 mins of gap and go trading)… but are very useful for intra day scalping (start with trending stocks and then look at indicators intra for simple set-ups – study scan study scan study scan).
http://finviz.com/
https://finance.yahoo.com/screener/predefined/ec5bebb9-b7b2-4474-9e5c-3e258b61cbe6
http://www.highshortinterest.com/
http://www.gurufocus.com/short-stocks.php
http://www.3xetf.com/all/
http://www.etf.com/channels/gold-etfs
GL!
Curtis
Article Topics: Stockmarket, Pre-Market, Trading Plan, Wall Street, Stocks, Day-trading, Watchlist, Chatroom, $IDXG, $AEM, Casino stocks, Small Cap Oil, $CBMX, $JUNO, $GOLD, $SILVER, $USD/JPY, $USOIL $WTI, $VIX, $SPY, $NATGAS, $DWT, $UWT, $SLV, $GLD, $DXY