Good morning, Stock Traders! Earnings season is in full gear and everybody is happy (for now).
Yesterday was awesome with a 9.2% portfolio gain… looking to trade for at least 1% compound today (3% goal daily).
Today’s premarket trading plan will be quick – we’re burning 20 hour days getting everything ready for pre-launch.
$SPY ($ES_F)
Futures are “just” in the green – range bound boredom trade continues… there is a wedge that terminates near election day… wouldn’t you know it. No play for me here yet… I’ll be watching the volatility side close though.
I would expect S&P, DOW, NASDAQ and world markets in general to be up until at least early Tuesday next week (unless geopolitical issues hit). Yes, WikiLeaks may have a major drop on Hillary or Donald.
$VIX ($XIV, $TVIX, $XIV)
Continue on watch until election… I missed the trigger yesterday and will continue to watch… with Friday on deck I don’t expect volatility until early next week now at earliest so there may be an entry possible.
FX $USOIL $WTI ($UWTI, $DWTI, $USO, $CL_F, #OIL, #Crude, #OOTT)
This is one of the more interesting plays… EPIC the algo put out revised Friday alpha algo targets FYI.
Crude is holding on to horizontal trend-line supports (purple on chart), is holding on to diagonal trend-line support (blue) and holding Alpha algo diagonal trend-line (red)… all of which keeps it just above support… barely – one rumor and this will get great lift. The $DXY of course plays in (correlation seems somewhat delayed and then instant). There are two moderate time / price cycles ending at latest 2:30 PM ET today and a major one at November 1 at 10:30 PM ET. The time / price cycles (do change as chart builds out, so that’s why I regularly update them) but more importantly can definitely cause significant price lift or not. So look for moderate lift or downdraft before 2:30 PM ET today and for sure before Wed morning next week. My suspicion is a rumor is coming because they time the rumors with the near termination of time / price cycles every single time (if price is at risk near support).
I am looking for a long $UWTI.
Crude algo intra work sheet 846 AM ET Oct 27, 16 FX $USOIL $WTI FXCM #Oil $USO $UWTI $DWTI $CL_F #OOTT #Algo
$DXY – US Dollar
$DXY continues… nothing is broken – break out is still alive. I posted upper resistance on my twitter feed to watch for – they have been correct within cents so far.
I am looking at $TZA again if Dollar gets lift. I’ll also be watching the support in crude chart next time Dollar lifts.
I will at times play $UUP with US Dollar.
Watching $CNY for continued deval.
Also looking at $SMK (although thinly traded) as a play if Donald gets lift in poles (inverted Mexico ultra-short).
Gold $GLD $NUGT, Silver $SLV, and Natty Gas $UGAZ $DGAZ…
With all three I was expecting on more floor down before the election, and we may get it… so I’m looking for that… if they take off before I get my one floor done I may chase.
Charts and Algorithmic Reports
For the algorithms we are working with $SPY, Silver, Gold, Oil, Natural Gas, US Dollar $DXY etc… we will start publishing pre-market and post-market reports for EACH every market day starting NEXT WEEK!!!
Watch my Twitter feed for intra real-time calls and the trade room starting next week – IT ALL HAPPENS intra-day. I know the GURUS are all about the plan… but that’s most useful with company equities and all the DD they have to do in that momo game… I’ll play for fun but my 1% compound daily (10k to 1.14MM in 26 mos) comes from plays like above and more importantly from intra-day movements providing opportunity for the 1%.
Stay blessed and bring home some bacon today! And remember… Coffee is for closers!
Curt