My Stock Trading Plan for Tuesday Nov 29, 2016 in Chatroom. $SKLN, $JUNO, $ANF, $URBN, $GOLD, $SILVER, $USOIL $WTI, $USD/JPY $SPY $VIX $NATGAS … more.
Welcome to the Tuesday 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.
Market Outlook
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: $CYTR $CBMX $OCUL $MIME $DWTI $HTBX $P $JDST $TIF $DUST $SCO $ZTO $PZRX $FBR $DGAZ $AMD $BCS $DB 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: $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: 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: My bias is still to new highs – I warned Friday of a pull-back and it could be here and Monday morning and it came.
$SPY Intra Day Trading – White arrow was alert on blog of imminent pull back.
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 getting cheap and a pop was imminent and we got it.
$VIX White arrow was blog post warning of imminent elevation in price.
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: From yesterday blog
“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.”
It’s running again.
$USDJPY Blog at first arrow warned of pull-back and at second arrow that it could take off 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)
There is a full blog post this morning Nov 29 so I’ll ask you to refer to it – read it closely. Take a look at Rosie the Gold Algo Twitter feed and Gold blog post update from this morning (and if you haven’t seen the recent ones it’s best to review them too if you’re trading Gold).
My Trading Plan for 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: $SLV ($USLV, $DSLV)
As with Gold, there is a full blog post this morning Nov 29 so I will ask you to refer to it and you can also check out SuperNova algo Twitter feed if you like.
Read the post carefully before trading Silver please!
My Plan for Trading Silver: 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, $CL_F)
As with Gold and Silver, there is a complete blog this morning Nov 29 that I will ask you to refer to.
IMPORTANT: Watch out for OPEC! Decision to come at latest tomorrow Nov 30 they say!
Outlook: We are bullish oil and have been for some time (since it bottomed in its most recent trading range).
Trading Plan: Of course I am waiting for OPEC decision but am in long $UWTI on small position in swing account. I commented on this in trading review from last night.
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.
BUT there is the 200 day on the 1 week chart – omminous!
$NATGAS Looks like a possible short at 200 day on 1 week to me.
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, $CYTR, $CBMX, $SKLN, $ANF, $JUNO, $URBN, $GOLD, $SILVER, $USD/JPY, $USOIL $WTI, $VIX, $SPY, $NATGAS