Pre-Market Newsletter Friday Nov 18 ($GOLD, $SILVER, $USD/JPY, $IWM, $RWM, $FAZ, $USOIL, $GDX… more.)

Curt MelonopolyTrading Plan, , , , , , , , , , , , , , ,

My Stock Trading Plan for Friday November 18, 2016 in Chatroom.

Welcome to the Friday Wall Street trading session!

Algo work – As of this Monday our new equipment will be up and running full steam so I’ve scheduled next week in the room (when market is quiet) for algo work – we’re running the algo updates now for $SPY, $USOIL $WTI, $VIX, $DXY, $GOLD, $SILVER – lots of updates coming for next week!

Market Outlook

The world markets in my opinion are at an inflection point. Sure the S&P 500 may go to all time highs and the US Dollar may really rocket and the various indices and international markets such as Japan will all fly high and even the metals will get curb-stomped. All of that I’ve been tweeting for months anyway in advance – so no surprise. The question is how to navigate it, trade the pull-backs and then really PROFIT on the other side of the inflection.

$GOLD and $SILVER are almost at our algorithm’s price targets – so I will be watching these closely. Japan’s stock market is in break-out mode with currency etc. S&P 500 $SPY is in mode to break new all time highs (I called prior to election), $VIX looks like it will be much lower (per our calls), $DXY US Dollar is in break-out mode (our algorithm nailed that with calls that extend back months ago) and $USOIL $WTI is sitting a new up range but not in break out (I am sure it is waiting for meetings to conclude).

I will say that our algorithm calls for Crude Oil, the US Dollar, S&P 500, Gold and Silver all took significant heat at the time they were made over the last few months. Interesting times – but our algorithms were right in every scenario – so that’s very positive, as such we’re releasing the initial charting of the algorithms over the next week.

On the small cap equity side…. shippers have run their course it seems and China low float issues got jiggy yesterday as I expected they would. This play book isn’t new. Low float oil could be next.

On the ETF / ETN side $UWTI $DWTI will be de-listed soon… so I will be looking to other instruments to trade crude oil. More to come on that soon.

So my plan in general is to watch for pull-backs and turns as the inflection points hit outside ranges. More detail below.

Momentum Stocks (Market Open and Intra-Day)

I do trade morning momo stocks (at times), but I do avoid risk. Just prior to open and shortly after open I post momentum stocks to the trade chat room (and Twitter if I have time).

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

Pre-market Decliners Watch-List:  $HIBB, $KTOS, $GOLD, $FSLR, $AMAT, $PAAS, $SSRI, $RYAAY, $MU, $UGLD – I Will Update Before Market Open or Refer to Chat Room

Pre-Market Gainers Watch-List: $SYUT 23%, $SMRT 16%, $DCIX 14%, $URRE 12%, $MRVL 11%, $DRYS $PIP $SHIP $FCEL $ESEA $SINO $GLBS $CRM $CBMX $UGAZ – I Will Update Before Market Open or Refer to Chat Room

Other Watch-List(s): Indices: $IWM $RWM $TZA S&P 500 $SPY ATH, International: Japan Stocks $DBJP, Currencies: $DXY $UUP Break-out $USD/$JPY $FXY, Financials: $FAZ Inflection Point?

Other Watch-List(s): 

Regular 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)

Stay tuned in Stock Chat Room for more pre-market stocks on watch.

Regular Trades:

S & P 500: $SPY ($SPXL, $SPXS)

My bias is still to all time highs, I will be looking for long positions on pull-backs. I see a run in Gold, miners and Silver soon then a pull back and then a big run.

Volatility: $VIX ($TVIX, $UVXY, $XIV)

I expect volatility at market inflection points and then continue to get crushed and I will likely follow that trend with $TVIX $UVXY $XIV buys at range pivots / pending price action, volume and other geo events.

Currencies Etc: $DXY US Dollar Index ($UUP US Dollar Bull, $UDN British Pound, $USD/JPY, $FXY Japanese Yen Trust, $CNY China, $TZA, $SMK / $EWW Mexico Capped ETF)

The US Dollar continues its rally so I’m looking at $UUP on pull-backs. Also looking at how the $USD/JPY relates to possible long in Japan with $DBJP.

I am also watching the Peso and Trump’s messaging… also watching $FXY and $USD/$JPY for clues with Gold and Miner’s.

Gold: $GLD ($UGLD, $DGLD). Miners: $GDX ($NUGT, $DUST, $JDST, $JNUG)

For me Gold and Silver is going to be the big story soon. It should start to get some lift if only for a short time and that process may go on for a while – so I will snipe as that occurs. I have started to chew around the edges with tight trades but nothing yet. The idea is to get on the winning side of the reverse when it occurs. Watching $USD/$JPY close and $DXY and $FXY for clues on Gold and miners movements.

$GOLD
$GOLD 530 AM EST Nov 18, 2016

Other equities I like for Gold Trade: $AUMN (penny stock)

Silver: $SLV ($USLV, $DSLV)

As with Gold I’m awaiting buy trigger on Silver – here again I will chew around the edges sniping until the reverse trend occurs.

$SILVER
$SILVER 548 AM November 18, 2016

Other equities I like for Silver trade: $AUMN (penny stock)

Crude Oil FX: $USOIL $WTI ($UWTI $GUSH $ERX, $DWTI, $DRIP, $ERY, $USO, $UCO, $UCO, $SCO, $CL_F)

First things first, $UWTI $DWTI are being de-listed (on Dec 9 I think?), anyway, that will cause me to choose a new instrument. I liked the idea of the 3x leveraged – I have a sneaking suspicion someone else will fill the void in short order anyway – but in meantime I’ll find other instruments. I really think the big story soon is going to be Gold and Silver anyway – so my bias is turning in that direction for daytrades anyway – but I’ll always trade oil.

https://twitter.com/Samir_Madani/status/799490803643150336

In the short term we do have to be ready for rumors or even real news out of the oil meetings so I’m ready for that.

https://twitter.com/EPICtheAlgo/status/799562968774115328

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)

Natural gas… I’m not comfortable with at this time… I want a trade with at least 4 to 1 probability.. at least thats the plan – and with natural gas it seems hard to get better than 50 50 – but we’ll see.

Other Sectors, Indices, International Etc:

Watching $RWM Russell 2000 Short

Watching $SPY Long to All Time Highs

Watching Japan Stocks $DPJP

Watching Aluminum Long $FOIL

Study:

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 super-nova type plays (you need a good momentum scanner for the first 30 mins of trade)… 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

 

 

 

Topics: Stockmarket, Pre-Market, Trading Plan, Wall Street, Stocks, Day-trading, Watchlist, Chatroom

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