My Stock Trading Plan for Wednesday Dec 7, 2016 in Chatroom. $ECR, $NVCN, $NVAX, $VKTX, $DRYS, $SHIP, $CBMX, $JUNO, $GOLD, $SILVER, $USOIL, $WTI, $USD/JPY, $SPY, $VIX, $NATGAS … more.

Welcome to the Wednesday Wall Street trading short day session!

Market Outlook:

Dips on $GOLD are being bought vs.selling the rips (so this by default plays in to $SILVER) $NATGAS is playing wth important resistance. $USOIL $WTI is dialed in with EPIC the Oil Algo perfect so machines have been on since Nov 30 break-out (so this makes trading oil related easier for me) and I’m not sure what $SPY has continued its upward trend as we posted predicts on since before election. Watching markets for a pull back (as noted previous) sometime near or just after Christmas (it seems we have a Santa Claus rally). And that brings me to momo stocks and rotation therein, looks like a fun two weeks setting up here.

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).

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: $ECR, $ANTH, $IMNP, $PLAY, $NVCN, $UGAZ, $VKTX, $ENPH, $SQ, $WDC, $NCAX, $TXMD, $RIO, $VALE, $FCN, $MU, $PLX 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: $XGTI $NVAX (momo potential), $AGIO (recent wash-out), $SGY (recent swing), $CBMX (current swing), $JUNO (current swing), $ANF (previous wash-out on news), $SKLN (previous wash-out on news), $URBN (previous wash-out on news).

From last night’s post market:

There are a tonne of set-ups in the market right now. Still on my watch are; emerging markets, $EEM, $LPCN, $DVAX, $DNAI and my buddy’s $SRPT.

(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:$AV $RIO $BMO $EC $AZO $AVY $GPK $JNPR $MMM $PTEN $OIS $DFS $EVHC $MPC $CVRR $BWS $UNH $CAL $VALE I will update before market open of refer to chat room notices.

(6) Downgrades:$MGP $BHP $IEX $STFC $SIGM $OXM $HELE $MIK $K $VA $MPSX $LPX $BMS $ATR $NTAP $JBL $SYF $HUM $GLT $ALOG $AMCX 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: As pre previous…. My bias is still to new highs but I am looking at a pull-back Christmas / Early 2017.

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.

$SPY The Christmas Fibonacci Express. Keep Christmas Merry and don’t stand on the tracks

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

Outlook: Was looking for an entry a full levels down 12.2 long 🙂 Watching very close now.

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.

$VIX Early Christmas present perhaps?

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)

US Dollar may come off in to downtrend soon – seeing some areas of global markets that are becoming interesting here. Watch emerging markets close too!

Pre previous: Inflection point. No clear direction. $USD/JPY not backing off yet. Our $DXY algo had 100.50 as a PT so I’m watching. Lots of fundamentals at work here and geo.

My Trading Plan for Currencies / Global Markets: Waiting, waiting, waiting.

$DXY Here it is at the price target our algorithm posted last July. 100.50. Interesting.

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

$USD/JPY Caution Gold bulls. Not broken yet. Gold: $GLD ($UGLD, $DGLD). Miners: $GDX ($NUGT, $DUST, $JDST, $JNUG)

 

My Trading Plan for Gold:

Waiting for a long trade confirmation in Gold.

Price has hit the price target predict @RosietheAlgo published from last July and now waiting for bottom of algo quad confirmation to take a long position Gold: $GLD ($UGLD, $DGLD). Miners: $GDX ($NUGT, $DUST, $JDST, $JNUG).

Per previous;

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 $SL_F: $SLV ($USLV, $DSLV)

Same as Gold – we’re waiting for a decision from market so we can get algo targets.

My Plan for Trading Silver:

Per previous;

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).

$Silver Hit our algorithm PT from July and bounced. $SL_F $SLV $USLV, $DSLV @SuperNovaAlgo

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

Crude is trading within its range. Until it breaks its recent highs it isn’t bullish and until it breaks its recent lows – same thing. So I will trade the range if at all.

Outlook: Per previous – trading range.

Trading Plan: Oil equities.

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 $NG_F : $NATGAS (, $UGAZ, $DGAZ):

Resistance? $NG_F In Sept 09 it ran from this price base for seven weeks tho – 4 weeks now here. $UGAZ $DGAZ

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, $CBMX, $JUNO, $GOLD, $SILVER, $USD/JPY, $USOIL $WTI, $VIX, $SPY, $NATGAS