My Stock Trading Plan for Friday Dec 30, 2016 in Trading Chat room. $MRNS $XLNX $IAG $AUY $GLD $GDX $NUGT $JNUG $USLV $SLV $UWT, $DWT, $USOIL, $WTI, $GOLD, $USD/JPY, $SPY, $SILVER, $SI_F, $VIX, $UVXY $TVIX $NG_F… more.
Welcome to the morning Wall Street trading day session!
Important Notices:
REVIEW: If you are not reviewing the post market trade reports along with this please do so. We assume our trading room subscribers do review it everyday and as such there will often be information in that report that is applicable to and not included in this premarket report. You will find the post market reports on our blog daily before this one is published.
Reporting Status: Another quickie guys and gals! Until all year-end algos are reset this week you can expect these premarket reports to be quick for now!
New Service Options: We now also offer a stand-alone trading room option now (vs. bundle w/ trading room, premarket newsletter and alerts) at 59.00.
New Service Options: EPIC the Oil Algo now has an Oil Report only option (vs. bundle w/ 24 hr trading room launching early 2017) at 199.00.
New Service Options: Entry-Level trader one-on-one trade coaching and entry-level trade academy options now available in addition to intermediate / advanced trading academy and coaching.
Feature Post: There is a new feature blog post at this link, “Why our Stock Algorithms are Different than Most“. If you are using our algorithms or charting it is a must read.
Room Settings: We are testing fault settings for multiple trading rooms in 2017 (main room, momentum, options, swing, commodities, etc). We can have groups in different rooms all seeing same screen and announcements / broadcast – if you’re moved don’t sweat it – it won’t affect your experience.
Current Holds:
$CBMX, $JUNO, $DUST(definitely looking for a way out on $DUST – was expecting one final significant spike in USDJPY before drop but I may not get it)
Market Outlook:
Per yesterday’s Premarket
Today for me is all about metal equities (building list now) and ETF’s confirming and possible entries, watching volatility and the oil report (off a day because of holiday).
As mentioned previous, all algos (Oil, SPY, Gold, Silver, Dollar, VIX) have hit their targets now (long term since July and short term) so we are running calculation targets for all six algos for all time charting time-frames and expect these reports to start rolling out before Jan 2017 trade.
Morning Momo / News Bits:
Momo: Early Publication (will update in room)
Per yesterday:
Time to watch the metals close and crude is on the move again! $UWT $GLD, $GDX, $NUGT, $JNUG, $SLV, $USLV, $AUMN, $ASM, $GRL, $VGZ, $NAK. $IAG, $AUY
Innocoll shares tumble 49% after FDA seeks further data on treatment for post-surgical pain
$INNL downgraded to Neutral from Buy at Janney.
$CEMP upgraded to Equal Weight from Underweight at Morgan Stanley. PT $3
Friday – U.S. bond market set to close at 2 p.m.
Nevada casinos report drop in Nov. revenue http://seekingalpha.com/news/3232866-nevada-casinos-report-drop-nov-revenue?source=twitter_sa_factset … #premarket $CZR $CACQ $BYD $FLL
$MRNS granted ODD for Ganaxolone for the treatment of Fragile X Syndrome
Xilinx $XLNX PT Raised to $70 at Argus http://streetinsider.com/r/12380126
Premarket: 5 things to know before the bell http://ift.tt/2hvF9Bm #money #market
EPIC the Oil Algo firing on all cylinders.
Algorithm target in site. Crude algo intra work sheet 154 AM Dec 29 FX $USOIL $WTIC #OIL $CL_F CL $USO $UCO $SCO $UWT $DWT #OOTT
If you are new to our trading service you should review recent blog posts and at minimum of our algorithm Twitter feeds because they do tell a story in terms of the market and how the inflections of the market determine our day to day trading. And you will notice quickly that the algos have been undeniably accurate on many time-frames (intra-day and months out) so I myself have learned to respect their math (they have taken me from a 60% hit rate to 80% in my trading – all publicly posted live trades). A quick hour of review at most will bring you up to date.
The algorithm Twitter feeds can be found here:$WTI (@EPICtheAlgo), $VIX (@VexatiousVIX), $SPY (@FREEDOMtheAlgo), $GLD (@ROSIEtheAlgo), $SLV (@SuperNovaAlgo), $DXY (@DXYUSD_Index). . Our lead trader Twitter feed is here @curtmelonopoly, lead developer @hundalSHS, and newest trader @quadzilla_jr.
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 and Stocktwits 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 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: Gainers: Early Publication 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: $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).
(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: 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 $ES_F ($SPXL, $SPXS)
NA
As I wrote last week:
I wrote about resistance the algo alerted at 227.80. This is still in play FYI. However, the Fed will determine now naturally whether we trend up or down from where we are. My bias is up until new year BUT I WOULD BE READY because money could get caught offside. Who knows?
As pre previous and our algorithm call before election…. My bias is still to new highs but I am looking at a pull-back Christmas / Early 2017.
As above in my intro and previous, the chart ain’t broke till its broke. When its broke we’ll let you know.
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)
NA
Outlook:
As I wrote this and last week:
As above, I am thinking opportunity comes between Christmas and Trump, and by the way, when $VIX spikes the easiest play is short short short. FYI.
CNN Fear and Greed Index: http://money.cnn.com/data/fear-and-greed/
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. SHORT $VIX SPIKES!
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)
USDJPY Ignore Fib Calcs – Green arrows significant support and resistance.
Per previous:
Watching $USDJPY now close for a top. Symmetry is in play on the chart, there is some divergence (although not broke) and metals are starting to front-run.
USDJPY is getting close to symmetry on the chart from the last run up about two years ago – charting on deck in coming reports!!!
Per previous:
BE VERY CAREFUL LISTENING TO THE $USD/JPY bears – they have been feeding misery to followers for many weeks – the chart is not broke – price is currently at support and there could easily be another leg up – nobody knows but the trend is your friend!
My Trading Plan for Currencies / Global Markets: Waiting, waiting, waiting. $USDJPY CHART IS NOT BROKEN! IT IS A BULL UNTIL IT IS NOT…
Gold: $GLD ($UGLD, $DGLD). Miners: $GDX ($NUGT, $DUST, $JDST, $JNUG)
Try and ignore the fib marker’s / mad science calcs we are in the middle of and focus on the green arrows – we see those as significant support and resistance.
Major support and resistance (green arrows) – Gold Algorithmic Model Chart Observation Work Sheet $GLD $UGLD, $DGLD Miners $GDX $NUGT $DUST $JDST $JNUG
Major support and resistance (green arrows) – Gold Algorithmic Model Chart Observation Work Sheet $GLD $UGLD, $DGLD Miners $GDX $NUGT $DUST $JDST $JNUG
Per recent posts:
So we have started to see some action in Gold and Miners so it these are on high watch with me right now.
I am waiting for the trend reversal. We are very close to the price target at the bottom of that quadrant at 1133.00 ish. The initial wide frame target Rosie the algo nailed but there has been a wait and see for a reversal because of one more possible leg down. Getting very close IMO.
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. The idea is to get on the right side of the trade and trend.
WE SHOULD BE ALMOST THERE! GET READY! LIKELY BETWEEN CHRISTMAS AND TRUMP POWER TRANSFER! CHARTS COMING!
Other equities I like for Gold, Miners, Silver Trade: $IAG, $AUY, $AUMN, $ASM, $GRL, $VGZ, $NAK – building more complete list now.
Silver $SI_F: $SLV ($USLV, $DSLV, $SILJ $SLX $EPU $EWZ)
Per previous;
Same with Gold and miners – on high watch.
Same as Gold – we’re waiting for a decision from market so we can get algo targets.
My Plan for Trading Silver: same
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 Gold, Miners, Silver Trade: $IAG, $AUY, $AUMN, $ASM, $GRL, $VGZ, $NAK – building more complete list now.
Crude Oil FX : $USOIL $WTI ($UWTI, $DWTI, $GUSH, $ERX, $DRIP, $ERY, $USO, $UCO, $SCO, $UWT, $DWT, $CL_F)
Outlook:
Crude overnight is trading right below a major resistance and right near a MAJOR time/price cycle termination decision.
Per Previous:
Last week Tuesday algo target at 4:30 hit and Wednesday 10:30 AM both targets hit to the cent and second and Friday Algo target was a near miss and this week Tuesday 4:30 hit and Wednesday just in to target but not a perfect hit (very tradeable though). Friday targets on charting BUT BE CAUTIOUS WITH FRIDAY TARGETS.
Trading Plan: Watching.
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):
Per Previous:
NA – I nailed the alerts in recent weeks with lift but didn’t trade t and don’t expect to anytime soon. Watching.
Study:
Now that a number of blog posts are being unlocked, it wouldn’t be a bad idea for traders to review them (especially new traders).
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: $MRNS, $XLNX, $IAG, $AUY, $GLD, $GDX, $NUGT, $JNUG, $SLV, $USLV, $UWT, $USDJPY, Stockmarket, Pre-Market, Trading Plan, Wall Street, Stocks, Day-trading, Watchlist, Chatroom, $CBMX, $JUNO, $DUST, $UWT, $GOLD, $SILVER, $USD/JPY, $USOIL, $WTI, $VIX, $SPY, $NATGAS, $DWT, $SLV, $GLD, $DXY
