My Stock Trading Plan for Thursday November 10, 2016.
Election is Over!
Sorry, no premarket yesterday – but we did bank in the room and the alerts have been dead on.
Futures were strong as were/are world markets.
Futures pic.twitter.com/dsnMeNVwqU
— Curtis Melonopoly (@curtmelonopoly) November 10, 2016
A few big things today… obvious lift in $SPY (and we’re banking on $XIV), my $THC swing I may exit soon, $HTZ should of held (it was a decent call), BASE METALS as I’ve posted on my feed will be strong mid term with infrastructure spending (Trump) and coal will be strong mid term likely.Copper is flying and shippers may take off here. Oh, and Natural Gas looks like it’s getting close to a buy zone. And as alerted tech and bio. Also, I missed the $NIKKEI snapback trade (which I wanted to catch just forgot – and yup it snapped back)
Many sectors are getting lift as we expected so it is important to stay in the zone – focus – nimble. Oil should be the story soon being it is bouncing under ceiling resistance on 200 on the 1 hr and bouncing up off 50 on the 1 hr.
#Nikkei 😂 Would have never guessed. pic.twitter.com/ykF3zKYzXI
— Curtis Melonopoly (@curtmelonopoly) November 10, 2016
Momentum Stocks (Market open and Intra)
I do trade them at times, but I avoid risk FYI. 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.
Pre Market Watchlist: $TRP, $THC, $TPL, $WFT, $JJC #Copper, $AUMN, and more in chat b4 open.
$AUMN on watch for #Silver to get over resistance and fly and #Gold to fly. Could be a double. #justsaying pic.twitter.com/IwoWySMjFF
— Curtis Melonopoly (@curtmelonopoly) November 10, 2016
If #Silver gets up over resistance and #Gold gets flight $AUMN can double fast.
$TRP On watch. pic.twitter.com/52ZOdlZj2m
— Curtis Melonopoly (@curtmelonopoly) November 10, 2016
$TRP – On watch @compoundtrading. Now that Trump has won, TransCanada wants to give Keystone XL pipeline another try https://t.co/4qMi89z860
— Curtis Melonopoly (@curtmelonopoly) November 10, 2016
$THC Bottom buy in room from yesterday going well… $HTZ bottom buy better… but this is good. @CompoundTrading pic.twitter.com/lRYuc9F6XN
— Curtis Melonopoly (@curtmelonopoly) November 10, 2016
$THX is up 6% or so in pre-market – so this swing is doing ok so far – I may exit this morning though.
$XIV Man this has been a good play – super clean. @compoundtrading pic.twitter.com/dbGw7lYNRQ
— Curtis Melonopoly (@curtmelonopoly) November 10, 2016
$WFT On Watch. pic.twitter.com/gcLnhLSY9j
— Curtis Melonopoly (@curtmelonopoly) November 10, 2016
$WFT I am watching for follow-thru.
Regular Watchlist: $GLD, $GDX, $SLV, FX: $USOIL $WTI ($UWTI, $DWTI), Natural Gas ($UGAZ, $DGAZ), $SPY, $DXY, $VIX ($TVIX, $UVXY, $XIV), more to come in trading room before market open.
$SPY ($ES_F, $SPX)
Well I nailed that call… what can I say. We’re going to new highs. Next eight calendar days are critical. Stay awake.
$SPY We were all over the move b4 the election in the room @compoundtrading New highs on deck. pic.twitter.com/hY6AuyppQu
— Curtis Melonopoly (@curtmelonopoly) November 10, 2016
Crude took a 200 on the 1 hr res dive and futures didn't care. There's your confirm Buckle up. $USOIL $WTI $SPY @CompoundTrading
— Curtis Melonopoly (@curtmelonopoly) November 10, 2016
Volatility $VIX ($XIV, $UVXY, $TVIX, $VXX etc)
From Tuesday….
Some obvious plays here… if Hillary gets last minute bad news I’l scalp $TVIX or $UVXY. If election goes well for her the obviously $XIV would be a decent scalp or swing. If THE Donald wins… watch out lol… volatilty. But either way I think the market gets a lift (if Donald wins market likely does a mini Brexit then lifts). I win every-time here (seriously almost). Brexit, last Jan, last Sept and Oil have been huge bonuses to my accts in addition to compound trading program – so I see the election as a bonus.
$VIX close to trend line – not that it really matters. #Volatility been our friend w $TVIX $XIV plays in the @CompoundTrading room lately. pic.twitter.com/Fc2EPmh60B
— Curtis Melonopoly (@curtmelonopoly) November 10, 2016
$XIV Nov 10 407 AM 40.00 Pre-Market. Been slaughtering this in the room since the dip. Nice action. @compoundtrading #wallstreet #stocks pic.twitter.com/PUWxe3gBvl
— Curtis Melonopoly (@curtmelonopoly) November 10, 2016
So the $VIX is right at that diagonal trendline support – but you have to be careful putting too much consideration in to diagonal supports to beging with – but even moreso with the $VIX (it isn’t like a diagonal trendline with most equities).
$DXY US Dollar Index ($UUP US Dollar Bull, $UDN British Pound, $FXY Japanese Yen Trust, $CNY China, $TZA, $SMK / $EWW Mexico Capped ETF)
I missed the move in the Peso… had it lined up but you can’t get every play… WE SHOULD WATCH IT THOUGH for a bit of a snapback next week perhaps.
The US Dollar index is the only one I’m really watching – if it gets flight there’s a good play in $TZA. But other than that I’m not interested in playing China or Britain or any other currency related trades.
$TZA – 3x Small Cap Bear. Watch $DXY US Dollar Index – when it gets flight so does the small cap bear $TZA typically.
$DXY US Dollar Index. Nothing Broken Yet. Algorithmic symmetry intact still. pic.twitter.com/E6KYZG3XaZ
— Curtis Melonopoly (@curtmelonopoly) November 10, 2016
The actual charting with the $DXY US Dollar isn’t broken at all… if you chekc my Twitter feed long before it got lift here I was telling folks what the algorithmic symmetry was saying… but many didn’t listen. This was an easy set-up IMO.
FX: $USOIL $WTI ($CL_F, $USO, $DWTI, $UWTI $XOP #OOTT #Algo)
Get your charting up and watch this close for a break-out. They have meetings coming up too.
Watch your 200 day on the 1 hour for resistance and 50 day on the 1 hour for support (and more recently this morning off the 100 for support) – either breach and that’s a tell. If I miss it in the room send me a DM on twitter or an email to [email protected]. Also watch the blue diagonal trendlines on the chart for resistance and support. And the purple horizontal supports and resistance. If crude gets above the 200 Day on the 1 hour and above the blue trendline above it and the purple resistance in that same area then it’s in break-out mode. DONT MISS IT AND DONT LET ME MISS IT LOL.
It gets up over 200 on 1 hr with back test you can kiss its rocket blasters bye. #justsaying $USOIL $WTI | $USO $UCO $DWTI $UWTI $CL_F #oil https://t.co/JUlHKvNsX2
— Curtis Melonopoly (@curtmelonopoly) November 10, 2016
Gold / Gold Miners – $DUST $JDST (Bear) / $NUGT $JNUG $GDX $GDXJ (Bull) / #Gold $GLD
$GLD #Gold Into to turbulence soon. pic.twitter.com/3vjZjd95vn
— Curtis Melonopoly (@curtmelonopoly) November 10, 2016
Obviously all base metals will be bullish, however, $GOLD is running in to some chart resistance that is wise to consider.
$GDX Gold Miner's – into turbulence soon. pic.twitter.com/gY1Wpsl9mS
— Curtis Melonopoly (@curtmelonopoly) November 10, 2016
Silver – $SLV, $USLV, $DSLV
$SLV under 17.92 Resistance. #Silver pic.twitter.com/3bku8OxicI
— Curtis Melonopoly (@curtmelonopoly) November 10, 2016
Pay attention to that 17.92 resistance – if #Silver can get up and over that on back-test it could fly. This would be my preferred play in the metals category. Also watch $AUMN if #SILVER gets up over 17.92. LETS NOT MISS THAT ONE EITHER.
Copper $JJC
#Copper pic.twitter.com/SaiEwierJL
— Curtis Melonopoly (@curtmelonopoly) November 10, 2016
Copper should cool soon here IMO and get some downdraft and then run again IMO.
Natural Gas – $NATGASUSD, $UGAZ, $DGAZ
Natural Gas. Getting close to buy zone IMO. pic.twitter.com/orzbXZ2R2r
— Curtis Melonopoly (@curtmelonopoly) November 10, 2016
Per previous…
I continue to watch per previous. I was expecting a floor down here (as with Gold and Silver not so much) and the downdraft this morning is significant (enough? not sure yet – ask me after election lol).
#NaturalGas IMO is almost at a floor, watch close!!! LETS CATCH THE TRAIN HERE TOO!
Good luck! And remember, we get in to nice predictable algorithmic trading / traditional charting trading with compound predictability starts Monday (we will just need to let trading settle in to its “natural mathematical state” for each intrument).
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).
https://finance.yahoo.com/screener/predefined/ec5bebb9-b7b2-4474-9e5c-3e258b61cbe6
http://www.highshortinterest.com/
GL GL!
Curtis
Topics: Stockmarket, Pre Market, Trading Plan, Wallstreet, Stocks, Daytrading