Compound Trading Chat Room Stock Trading Plan and Watch list for Wednesday May 3, 2017; $PIRS, $PHMD, $ESES, $BLDV, $BVTK, $VRX, $TAN, $GSIT – $UWT, $SSH, $LGCY, $TRCH, $ESEA, $MGTI, $LIGA – Gold $GLD, Gold Miners $GDX, Silver $SLV, Oil $USOIL $WTI, Natural Gas, US Dollar Index $USD/JPY $DXY, S&P 500 $SPY, Volatility $VIX… more.
Welcome to the morning Wall Street trading day session at Compound Trading!
Notes in red text below are new comments entered specifically today.
Notices:
Last week Thursday, Friday and Monday post market reports will be out soon (we’re a little behind with processing reports).
Today’s Live Trading Room Link: http://compoundtrading1.clickmeeting.com/livetrading
Most recent lead trader blog posts:
https://twitter.com/CompoundTrading/status/858581529727049730
https://twitter.com/CompoundTrading/status/846494014635429888
The Quarterly Swing Trading Performance Review P/L. The Algorithms Quarterly Performance Reports are being compiled as I write and will be posted soon.
https://twitter.com/CompoundTrading/status/841078264537993218
Most recent Keep it Simple Swing trade Charting (MACD, MA, Stoch RSI, SQZMOM focus):
https://twitter.com/CompoundTrading/status/853551912599400448
Trading Plan (Buy, Hold, Sell) and Watchlists:
Morning momentum stocks on watch so far: $PIRS $PHMD $ESES
Markets: $SPY $ES_F $SPX mid range floating, $GLD Gold on its second day sitting right at that magic support area, $GDX, $SLV are in no man’s land lost still. $USOIL, $WTIC hit that resistance I talked about yesterday and kaboom and landed on support and bounced a tad and I’m long for a quick trade. $DXY has been flat just under 200 MA for seven days as is $VIX trading near 10 year low (as of Monday)
Active OTC on watch: $ELED, $PVCT and $LIGA (I hold),$AMLH and $BLDV $UPZS $OPMZ $MMEX $ACOL $BVTK $USRM $ORRV $JAMN $PFSD
Gaps to Watch:
Stocks with News: $PIRS, $OPHT, $SNGX
SEC Filings to Watch:
Short Term Trader’s Edge:
Holds: Most holds are small to mid size (less than 5% of daytrading account) holds in this order according to sizing: $UWT, $ONTX, $SSH, $LGCY, $TRCH, $ESEA, $MGTI, $LIGA, $PVCT
Various Chart Set-ups on Watch: $GSIT, $TAN $IBB, $UNP, $LL, $MACK, $AGN, $CRM, $BRE, $RARE
Break-out Chart Set-Ups: $ALNY, $YNDX Buy on dips, $SSW has a resistance break-out, $HF, $CRY, $NOK.
Moving Averages Chart Set-Ups: $RTIX, $BLMN, $SNAP, $JUNO, $GREK, $UAA (20 MA about to cross up 50 MA)
$GSIT MACD pinch. Enter long when MACD turns be sure price above MAs and 20 MA over 50 MA SQZMOM turned up and Kapow. #swingtrading pic.twitter.com/Hp2UhND4sN
— Melonopoly (@curtmelonopoly) May 3, 2017
$TAN Watching MACD turned up price over 20 MA SQZMOM green. Need price over 50 MA with 20 MA breach 50 MA. This is one of those where .. pic.twitter.com/ToM0sG9W1b
— Melonopoly (@curtmelonopoly) May 3, 2017
Market Outlook :
Looks like clear skies on deck .Watch those large and mega caps – when they stall things could change. Apple earnings today.
Per recent reports:
There are significant resistance clusters above recent highs in oil and the S&P so I will be very cautious to upside going forward until recent highs are taken out and confirmed. I see significant upside challenges in Oil and SPY with most recent highs being taken out.
Market News and Social Bits From Around the Internet:
S&P -0.14%.
10-yr -0.05%.
Euro -0.15% vs. dollar.
Crude +0.38% to $47.84.
Gold -0.14% to $1,255.23.
7am
Mortgage Apps
8:15am
Employment Report
8:30am
U.S. Job Creation Index
10am
Non-Mfg Index
10:30am
CRUDE Report
2pm
FOMC
Futures dip ahead of Fed decision https://seekingalpha.com/news/3262681-futures-dip-ahead-fed-decision?source=feed_f … #premarket $SPY $QQQ $DIA $SH
$OPHT Ophthotech Reports First Quarter 2017 Financial and Operating Results http://files.shareholder.com/downloads/AMDA-25HR8L/4405728326x0x940569/cfd3cab0-fd71-4202-a57c-60c7e9d565ad/OPHT_News_2017_5_3_General_Releases.pdf … Cash Position 227M market cap 102M
$PIRS +52% here is the news http://www.pieris.com/news-and-events/press-releases/detail/562/pieris-pharmaceuticals-and-astrazeneca-collaborate-to …
$SNGX Soligenix receives FDA protocol clearance of SGX942 Phase 3 clinical trial
Sprint shares gain 4% premarket after Q4 revenue beats expectations #stocknews
The Oprah effect is paying off big for Weight Watchers. $WTW posts surprise profit & jump in subscribers. $WTW up nearly 15% #premarket.
If you are new to our trading service you should review recent blog posts, the Compound Trading YouTube Channel and at minimum our algorithm Twitter feeds because they do tell a story in terms of the market and how the inflections of the market determine our day to day trading. You will notice the algorithmic modelling has been undeniably accurate with many time-frames (intra-day, weeks and months out) so I myself have learned to respect their math (they have taken me from a 60% hit rate to 80% in my trading – all publicly posted live trades).
The algorithm Twitter feeds can be found here:$WTI (@EPICtheAlgo), $VIX (@VexatiousVIX), $SPY (@FREEDOMtheAlgo), $GLD (@ROSIEtheAlgo), $SLV (@SuperNovaAlgo), $DXY (@DXYUSD_Index). Our Swing Trading Twitter feed is found here: https://twitter.com/swingtrading_ct. Our lead trader Twitter feed is here @curtmelonopoly and lead tech developer @hundalSHS.
Momentum Stocks (Market Open and Intra-Day):
I do trade morning momo stocks, 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 and Stocktwits if I have time).
Some of my Favorite Intra-day Trading 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 scaling in my position 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 : $PIRS $PHMD $ESES $STRP $FEYE $OB $WTW $APOP $PSTI $LLNW $FSLR $DLPH $NVO $CTXS $VRX $OCN $MDLZ $TVIX I will update before market open or refer to chat room notices.
(2) Pre-market Decliners Watch-List :$TWLO $ETSY $AKAM $CRAY $FTR $OCLR $FCX $RIO $AAOI $ACIA $GILD $DXCM $XIV $SPY $QCOM $SHOP $APC $PRGO $SYF $STM $ERIC $BDSI $AAPL $USLV $GLD I will update before market open or refer to chat room notices.
(3) Other Watch-List:
(4) Regular Algo Charting Watch-List: Gold $GC_F $GLD, Miners $GDX ($NUGT, $DUST, $JDST, $JNUG), Silver $SLV $SI_F ($USLV, $DSLV), Crude Oil FX: $USOIL $WTI ($UWTI, $DWTI, $USO, $UCO, $CL_F, $UWT, $DWT), Natural Gas $NG_F ($UGAZ, $DGAZ), S & P 500 $SPY $ES_F ($SPXL, $SPXS), US Dollar Index $DXY ($UUP), Volatility $VIX ($TVIX, $UVXY, $XIV)
(5) Upgrades: $FEYE $ARRY $FSLR $HP $MCD $KGC $STE $KAI $MDLZ $OAS $BMY as time allows I will update before market open or refer to chat room notices.
(6) Downgrades: $PBPB $AKAM $QTS $VRSK $XOG $SRCI $APC $CHTR $TWLO $COR $BLKB $GHDX $FIS $APC $BMY $SYF $SHOP $DXCM as time allows 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.
Study:
For new readers, a review of our unlocked posts on our blog would help you get in to the story we are following with the securities listed in this newsletter.
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 and swing trading (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: $PIRS, $PHMD, $ESES, $BLDV, $BVTK, $VRX, $TAN, $GSIT – $PVCT, $LIGA, $MGTI, $ONTX, $SSH, $LGCY, $TRCH, $ESEA – $UGAZ, $DGAZ, $NUGT, $DUST, $USLV, $DSLV, $UWT, $DWT, $JNUG, $JDST, Stockmarket, Pre-Market, Trading Plan, Wall Street, Stocks, Day-trading, Watchlist, Chatroom, $GLD, $GOLD, $SILVER, $USD/JPY, $USOIL, $WTI, $VIX, $SPY, $NATGASUSD