Tag Archives: $IBB $LABU $LABD $AXON

My Stock Trading Plan for Wednesday Nov 23, 2016 in Chatroom. $LLI, $JUNO, $IBB $LABU $LABD $AXON, $SKLN, $USOIL $WTI, $NATGAS … more.

Welcome to the Wednesday Wall Street trading session!

Algo work – As of right now our algorithms are calculating and we are commencing publication of algo charting for the following charting starting this morning for: $SPY, $USOIL $WTI, $VIX, $DXY, $GOLD, $SILVER – any not completed before market open will be available prior to market open Thursday! Sorry we’re running a little behind, but there’s been a massive to-do list getting room up and running properly and quite frankly these are not normal markets.

Get ready for a huge day!

Market Outlook

$JUNO – 30 and $LLI Eli Lilly and others are getting smoked this morning – so the obvious watch is this basket / sector. $IBB $LABU $LABD $AXON all on watch too.

EIA is at 10:30 EST

Gas as 12:00 EST

Urban outfitters down 10%

Durable goods higher than expected… treasury way up.

Weekly Jobless Claims as expected.

Generally speaking the markets obviously are in a Trump win rally (which we predicted and posted prior to the election – just keeping it real). BUT, now here’s the warning!

Our algorithms posted long time ago $DXY US Dollar price target of 100.50 (which it hit and continued to rally), $GOLD price target not far below where it is trading now, and a $SILVER price target not far below where it is trading now. Of course we published algo targets and various info for the others including $SPY, $VIX and FX: $USOIL $WTI – but for the purpose of this warning – this is about the dollar, gold, and silver.

The warning is that we fully expect a rip in Gold and Silver and for the $USD/JPY to back off. This will create a series of snap-back scenarios… too many to post right here right now. SO IN SHORT, I am saying that we don’t expect the broad global markets to continue on a bull train for much more than say about 10% ish at most more. NOW CAREFUL, I am not saying the S&P 500 for example only has 10% more to the upside – not at all (I posted long before the election we had targets for a face ripper rally in $SPY after the election). BUT WHAT I AM SAYING is that many sectors are going to have a snap-back.

So watch closely over the coming days and weeks for that in various areas of the market. We expect commodities like Gold and Silver to snap back, the $USD/JPY to back off, the price of oil to rally in to the spring and a number of other areas of markets.

SO THIS MEANS (for me) that I need to get on a complete exploratory of opportunities this will represent – I hope to have something consolidated this weekend.

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. 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: $REXX $DE $LABD $ZBIO $TXMD $AVXL $VEEV $JDST $CNHI $MRNS $GME $OPTT – I Will Update Before Market Open or Refer to Chat Room.

(2) Pre-market Decliners Watch-List:   – I Will Update Before Market Open or Refer to Chat Room.

(3) Other Watch-List: $ANF (watching for exit on my swing), $SKLN for wash-out and snap-back, Steel $X, $AKS, $NUE, $CLF, .

(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)

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 – but a pull-back will come – so watch close now.

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: 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: The real story here right now obviously is the $USD/JPY trade and various other currencies being pounded by the US Dollar. 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.

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)

On Friday I wrote and it still stands,

For me Gold and Silver is going to be the big story soon. It should start to get some lift if only for a short time and that process may go on for a while – so I will snipe as that occurs. I have started to chew around the edges with tight trades but nothing yet. The idea is to get on the winning side of the reverse when it occurs. Watching $USD/$JPY close and $DXY and $FXY for clues on Gold and miners movements.

Other equities I like for Gold Trade: $AUMN (penny stock)

Silver: $SLV ($USLV, $DSLV)

As I wrote on Friday,

As with Gold I’m awaiting buy trigger on Silver – here again I will chew around the edges sniping until the reverse trend occurs.

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)

Outlook: We are bullish oil and have been for some time (since it bottomed in its most recent trading range).

Trading Plan: We have been successfully trading the range with various instruments in the trading room.

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)

Other Sectors, Indices, International Etc:

Healthcare on watch. Treasuries on watch.

Study:

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

 

Topics: Stockmarket, Pre-Market, Trading Plan, Wall Street, Stocks, Day-trading, Watchlist, Chatroom, $LLI, $JUNO, $IBB $LABU $LABD $AXON, $USOIL $WTI, $NATGAS