My Stock Trading Plan for Monday Nov 28, 2016 in Chatroom. $SKLN, $JUNO, $ANF, $URBN, $GOLD, $SILVER, $USOIL $WTI, $USD/JPY $SPY $VIX $NATGAS … more.
Welcome to the Monday Wall Street trading short day session!
Algo work – As of right now our algorithms are calculating and we have posted updates for EPIC the Oil Algo, Rosie the Gold Algo and SuperNova Silver on this blog this morning.
We are working on $SPY, $VIX, $DXY algo blog posts now and will be ready for release this week.
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).
I posted a video series this weekend on wash-out snap-backs.
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 (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: $CUBA, $HTBX, $IDRA, $UGAZ, $TIME, $JNUG, $NUGT, $UNG $LABD $MDGS $USLV $DWTI $TVIX $UVXY $AG $UGLD – I Will Update Before Market Open or Refer to Chat Room.
(2) Pre-market Decliners Watch-List: – I Will Update Before Market Open or Refer to Chat Room.
(3) Other Watch-List: $ANF (previous wash-out on news), $SKLN (previous wash-out on news), $JUNO (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, $CL_F), Natural Gas ($UGAZ, $DGAZ), S & P 500 $SPY ($SPXL, $SPXS), US Dollar Index $DXY ($UUP), Volatility $VIX ($TVIX, $UVXY, $XIV)
(5) Upgrades: $ZION $USB $CMA $NTES $WPX $HZNP $BRX $LNN $FMC $DE $CNHI $AVD $AGCO $LB $GPS $FHN $ESS $AVB $DRE $PLD $DFT $SWN $AKAO $COP $FNSR
(6) Downgrades: $HBAN $C $TUP $HAS $BPFH $ASB $RNST $WFC $RF $HLT $KRC $MAR $CEB $CRHM $RHI $SQM $MHLD $MET $HRB $HIG $PNRA $SF $MENT
Stay tuned in Stock Chat Room for more pre-market stocks on watch.
S & P 500: $SPY ($SPXL, $SPXS)
Outlook: My bias is still to new highs – I warned Friday of a pull-back and it could be here – so watch close now.
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: As warned Friday volatility was becoming cheap insurance – it’s getting a pop this morning – so watch carefully now. I expect volatility at market inflection points and then continue to get crushed. 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)
Outlook: As I warned last week “Be careful here now because the $USD/JPY chart (although not broken and still bullish) is showing a rounded top forming. So the chart is changing now – caution IMO. It did also hit a Fib extension and bounced off a Fib support and is sitting between two Fib points”.
Watch it close – I expected a pull-back but expect it to run again.
My Trading Plan for Currencies / Global Markets: $UUP (long US Dollar) seems to be a bit extended obviously, so this opportunity is a tad long in the tooth if you ask me – same with $USD/JPY. So for $GOLD and the miners $GDX watch the $USD/JPY closedly.
Emerging markets should be watched close now very closely IMO ($EEM, $EEV, $EDZ)
Gold: $GLD ($UGLD, $DGLD). Miners: $GDX ($NUGT, $DUST, $JDST, $JNUG)
My Trading Plan for Gold: 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: $SLV ($USLV, $DSLV)
As with Gold, there is a full blog post this morning so I will ask you to refer to it. Silver blog post update this morning.
Read the post carefully before trading Silver please!
My Plan for Trading Silver: Same as Gold, I’m going to start chewing around the edges of stocks 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, $CL_F)
As with Gold and Silver, there is a complete blog this morning that I will ask you to refer to. Oil charting update.
Outlook: We are bullish oil and have been for some time (since it bottomed in its most recent trading range).
Trading Plan: We have been successfully trading the range with various instruments in the trading room.
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, $HGT
Natural Gas: ($UGAZ, $DGAZ):
As I said, was waiting for 3.10 with back test – it’s back testing now!
Other Sectors, Indices, International Etc:
Watch that $SKLN wash out snap back trade 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).
Article Topics: Stockmarket, Pre-Market, Trading Plan, Wall Street, Stocks, Day-trading, Watchlist, Chatroom, $SKLN, $ANF, $JUNO, $URBN, $GOLD, $SILVER, $USD/JPY, $SKLN, $JUNE, $ANF, $USOIL $WTI, $VIX, $SPY, $NATGAS