Review of my Chat Room Stock Day Trades and Alerts for Wednesday Nov 30, 2016. OPEC, OIL, $USOIL, $UWTI, $GENE, $SCON, $SGY $CRC, $SDRL $NE $RIG and more.
Time stamped entries (in permanent archive) copied to this blog in italics (below) are direct live log chat from chat trade room as they occurred (random chat from myself not applicable or other misc chat deleted). Chat trade room is also video recorded daily for trade archive.
In addition to chat, this trade-room has live voice broadcast (that covers in detail what indicators I am looking for in and out off each trade) and has live chart screen sharing right from my monitor to the room with all indicators I am looking at.
Overview Perspective & Review of Chart Room, Trades and Alerts:
Today was a day of review of inflecton point charts in $USD/JPY, $SILVER, $GOLD, $DXY, $SPY, $NATGAS etc. Spent some time in the afternoon going over levels to watch.
Trader’s were obviously aware of levels Wednesday when morning run-up occurred and OPEC deal came being that we reviewed oil algo targets / charting etc day befo
Nobody nowhere ever has EPIC hit rate – none.
And @RosietheAlgo and @SuperNovaAlgo won’t be far behind. The other three are likely a few months yet. Existing subs will be grandfathered (which is how it will work with all our algos as they roll out).
Why am I on about all this? Cause we get a lot of “special” people on social media etc… gets a little long in the tooth sometimes.
Also, we are waiting for OPEC decision. I am long $UWTI from late Friday.
Wednesday was in fact about oil. Epic nailed the target at 10:30 predicted last week on his feed and we reviewed in detail the new algo targets. It was also about oil companies and shippers got a bit jiggy and yes $GENE and $SCON got ramp room.
I see $GOLD and $SILVER are once again testing Rosie and SuperNova’s price targets in overnight.
Primary Lessons That May Help Your Trades:
My $UWTI long…I sold too early – I can do the math on the algo but I can’t trade it like I know math. Pure and simple.
$GOLD and $SILVER per previous comments;
So far we’ve play $GOLD and $SILVER right waiting for the inflection trend reverse.
$SPY per previous comments;
I haven’t taken a trade on recently, perhaps should have entered on this most recent pull-back, looking for position soon again.
The $SPY play I had set properly prior to election has played out exactly as predicted and didn’t really capitalize like I could have so far – but it hasn’t exactly been a face ripper like Brexit or last Jan or last Sept (all of which I caught) – it’s been much more orderly so I’ve spent my energy preparing for the trend reverse.
I AM GOING LONG $SPY SOON. And then it should tank sometime between Christmas and May – we’ll see. Should.
I should also say I will be hammering down on some longer term swing plays soon. Time-frame likely 2 weeks to 4 months type of plays. Market is improving. Looking for other side of inflection of course. Why do I emphasize that soooo much??? Because if you’ve been following me at all you will know I’ve been scalping only for months. There’s a time to scalp a time to swing and a time to hammer down. SO YOU WILL SEE A DIFFERENT TRADER WHEN IT COMES TO SWINGS ETC. MUCH bigger entries and LONGER HOLDS and ESCALATED ENTRIES. I scalp to stay in the market when its f’d and I like to keep in the heartbeat and I like to reset my basics and discipline etc etc. Anyway, I believe I can see the directions in general terms fairly clear now whereas the last 18 months has been off for me – I didn’t like Obama at all. Zero. None. Ugh. Terrible. I’m not a left or right I’m a capitalist I guess so more right but a lot of me is left so I’m me. I just didn’t like his ways.Trump will be much more predictable and capitalist predictable I guess is what I’m saying. Just want to make it clear so any that aren’t clear have it clear clear clear cause I can’t stand “you didn’t tell me or you told me this” comments. Hate them. Hate. 🙂 I go out of my way to be clear. 🙂 🙂
Announcements in Trading Room:
09:54 am Curtis M : Review of upper algo targets for possible OPEC deal at 10:05 AM
11:02 am Curtis M : Gonna do some scanning and back for 12 EST
01:23 pm Curtis M : Set my stop on $JONE at my buy and gonna have coffee w wife and come back in 20 min
Stock Chat-room Trading Transcript:
08:45 am Sartaj Hundal : Good morning, traders. This is a reminder that our inaugural opening offer for the live trading room ends on Friday. Use coupon code fomo50 at checkout. https://compoundtrading.com/shop
09:09 am Curtis M : Running scans – back before open.
09:15 am Curtis M : $SCON up 70% premarket http://www.marketwatch.com/investing/stock/SCON?siteid=rss
09:17 am Curtis M : 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
09:23 am Curtis M : Some gainers $SCON $CRC $BAS $REXX $VNR $FMCC $HOS $GASL $OAS $FNMA $LEI $NOG $GST $ORIG $BCEI $DNR $AREX $SM
09:37 am Curtis M : Energy squeeze $CRC $OAS $SDRL $WPX $LPI $SM $CPE $NE $MOG $SYRG $ERF $ORIG $DNR $REN $GBR $GST $ CLR $WPXP $EGN $PE
09:41 am Curtis M : $GLBS squeeze
09:42 am Curtis M : Leaders $SCON $GENE $CSBR $CRC $GLBS and energy
09:44 am Curtis M : Resistance test on crude here.
09:52 am Curtis M : Will Wun through Upper Targets for potential OPEC deal in 10 mins or so
10:03 am mathew w : REN fighting the squeeze here
10:06 am Curtis M : Primary target direct hit https://twitter.com/EPICtheAlgo/status/803978309650395136
10:06 am Curtis M : Starting in 3 mins algo work on oil
10:15 am Curtis M : Out $UWTI 21.79 $UWTI 1200 shares from last Friday looking for re-enter later
10:19 am GSCT . : Very difficult to read to be honest
10:20 am GSCT . : Yes! Hahaha.
10:21 am susan woo : Its like a Kandinsky painting!
10:21 am GSCT . : Lol.
10:30 am GSCT . : And you’ll have educational videos as well
10:31 am GSCT . : or live edu on it I assume
10:42 am GSCT . : I don’t doubt the algo I’m just not clear how to trade using them exactly. And the chart as is is very cluttered to my eye.
10:49 am GSCT . : It would be easier to see without theall the horizontal purple lines.
11:01 am Curtis M : Email any questions you have plz thanks!
11:02 am Curtis M : Gonna do some scanning and back for 12 EST
11:07 am GSCT . : Can the screen in screensharing be enlarged so there aren’t fat white borders around it?
11:13 am Curtis M : OPEC press conference
11:23 am Curtis M : We have split rooms FYI
11:48 am Mathew Waterfall : Out the rest of my WLL calls. Hit the fib I was looking for. Almost a tripple bagger on those
11:48 am Curtis M : $MRO squeeze
11:50 am Curtis M : $MRO squeeze
11:57 am Curtis M : Nice Mathew
12:02 pm Mathew Waterfall : SN up over 22% and my calls barely moved. Love that…not
12:02 pm Mathew Waterfall : Part of the fun I guess lol
12:06 pm Curtis M : ugh
12:07 pm Mathew Waterfall : At least I had the move right so that makes me warm and fussy while my account is smaller than it should be. If this move confirms for a day or two the small cap oil squeeze will be on like donkey kong and it;ll straighten out
12:25 pm Curtis M : $JONE tape strong
12:36 pm Curtis M : Long $JONE average 4.81 2500
12:36 pm Curtis M : Will add if t squeezes
12:36 pm Mathew Waterfall : Good call. Picked up a bit earlier myself with the plan to add over 5 if it gets mving
12:37 pm Mathew Waterfall : *moving
12:51 pm Mathew Waterfall : Im out of JONE. 4.66-4.86. Will reenter if get sover HOD on volume
01:08 pm Curtis M : $HOS tape strong
01:10 pm Charles S : I think JONE will be good going forward no matter what occurs today
01:11 pm Elroy O : cleaner chart lol
01:11 pm Curtis M : funny
01:12 pm Curtis M : Hey if you guys figure out a cleaner way to get algo stuff in a chart let me know! 🙂
01:13 pm Curtis M : Pt close should be real good or real bad likely good
01:14 pm Mathew Waterfall : Can play HOS against 5.15. That’s been some key resistance and support
01:14 pm Mathew Waterfall : up over hi likely pops
01:15 pm Mathew Waterfall : Longer term support at 4.75 if you want to go on a swing
01:23 pm Curtis M : Set my stop on $JONE at my buy and gonna have coffee w wife and come back in 20 min (stopped flat)
01:30 pm Curtis M : Theres a recent Gold blog post about a possible bottom at that quadrant fyi possible
01:30 pm Curtis M : Back in 20
01:52 pm Curtis M : 49.84 fib ext oil
01:54 pm Curtis M : Long $UWTI 2000 22.98 looking for 49.80 oil fib ext
01:58 pm Curtis M : Sartaj stole the others lol
02:01 pm Curtis M : OUt 23.21 $UWTI
02:04 pm Curtis M : Long $UWTI 23.10
02:08 pm Mathew Waterfall : Back looking at silver and gold. Already sitting on small USLV position. Market weakness tells me it may be time mixed with gold double bottom here
02:09 pm Curtis M : Sorry yes 4000 shares
02:09 pm Curtis M : Ill go 12000 if fib 49.87 blows thru
02:13 pm Curtis M : Out 23.09 cut look for reenter for that fib break at top ($UWTI)
02:15 pm Curtis M : Looking fr squeeze above 49.87
02:16 pm Mathew Waterfall : DRYS getting after it again here
02:26 pm Curtis M : Sorry I was long $UWTI 3 mins ago (out flat)
02:28 pm Curtis M : cut flat
02:28 pm Curtis M : wanted that break and didnt get it
02:29 pm Curtis M : oh well trend change is in play now so should be decent trading now going forward
02:35 pm Mathew Waterfall : Large MOC to the sell side. This would be 3 in a row IIRC if it sticks
02:36 pm Mathew Waterfall : .-1.4b currently
02:44 pm Curtis M : Huge order flow $DRYS
02:45 pm Mathew Waterfall : Yepp. Picked up some SHIP as a sympathy pla. Like the lower entry point and solid support just south of current levels
02:46 pm Curtis M : Likely see $RIG $SDRL $NE etc run over next few weeks
02:50 pm Mathew Waterfall : Large sweeps in RIG and WLL today
03:30 pm GSCT . : DWTI 56.43 – 57.45
03:31 pm Curtis M : $SGY $CRC strong close… may run if oil continues…. $SDRL $NE $RIG I and others in that clan I think will run hard between now and Christmas
03:31 pm Elroy O : no doubt about offshore – setting up
03:32 pm GSCT . : Crude could fall here
03:32 pm GSCT . : 48.85
03:36 pm Kline P : Does look like last year
03:42 pm Mathew Waterfall : Like GST here as well if it can clear recent highs
03:50 pm Curtis M : Well I’m calling it a day – now that OPEC is behind us maybe we get a direction in market over next few days. Room open till 4 ish. Best!
03:50 pm StockMaven S : Thanks!
03:55 pm GSCT . : Going to miss these leveraged Oil ETFs
03:55 pm GSCT . : UWTI DWTI delisted Dec 8
03:56 pm Curtis M : yup
03:57 pm GSCT . : DO you like GUSH and DRIP >
03:57 pm GSCT . : ?
03:58 pm GSCT . : Exp and prod.
03:59 pm Curtis M : we’re backtesting them in the works
04:00 pm Curtis M : Night guys
— Curtis Melonopoly (@curtmelonopoly) November 30, 2016
Topics: Compound Trading, Trading Lessons, Results, Wall Street, Stocks, Stock Market, Day Trading, Chat Room, Trading Results, OPEC, OIL, $USOIL, $UWTI, $GENE, $SCON, $SGY $CRC, $SDRL $NE $RIG