My Stock Trading Plan for Tuesday Jan 24, 2017 in Trading Chat room. $MPSX, $IDXG, $NAK, $REXX, $TNXP – 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!
Notices:
Per previous;
https://twitter.com/CompoundTrading/status/823791504602710016
https://twitter.com/CompoundTrading/status/823807548528754689
Feature Post: “Why our Stock Algorithms are Different than Most“. If you are using our algorithmic model charting it is a must read.
Review: If you are not reviewing the post market trading results along with this please do so. We assume our trading room subscribers review it everyday. There is often information applicable to and not included in this premarket report. You will find the post market trading result reports on our blog daily.
New Service Options: We now also offer a stand-alone trading room option now vs. bundle incl. trading room, premarket newsletter, alerts). Plans from $1.22 per day w/ promo code.
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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.
Current Holds:
All very small positions – $ROKA, $TRCH, $ESEA, $CBMX, $JUNO, $DUST (looking for a way out on $DUST – was expecting one final significant spike in USDJPY before drop). $CBMX and $JUNO are holds till spring if necessary (you would have to do your own DD on the companies and make your own determination).
General Market Outlook:
This could be start of turn in many areas. Looks like some bio runner momos and Gold, Silver and other metals active and close to test. $SPY rangebound but with earnings we could go here. $DXY could be at interim support.
Per previous;
My general bias (as a trader – not algo math) is for the market to be somewhat flat or deflate prior to Jan 20 inauguration, Gold and Silver to get further lift but back off between Wednesday afternoon and Monday. After the inauguration my bias is toward Gold and Silver getting punished when the Trump train gets moving again (no telling if this will be days or weeks or even a few short months). But I do think Trump will crush Gold, Silver etc and the $VIX at some point. The $VIX I will be watching close. Oil I think has headwinds. Natural Gas I am continuing to watch. Smaller Gold / Silver / Oil companies and Shippers / Greece I am watching very close also. But of course with Brexit in the news, the OPEC situation and inauguration I am going to stay very nimble and likely trade volatility and Gold related most of the week.
Early in 2017 I will be watching very closely bonds, $USDJPY, markets in general for direction (of course there are hundreds of variables).
Metals, energy and financials are three areas I am looking to for 2017 for trading margin – with bio in fourth place on my list. And per previous we’re expecting some action in bonds to the upside a high probability.
As a trader, it is the margin / volatility I am focused toward and getting on the right side of a market / sector turn and scaling in to that.
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 first week of January 2017.
Morning Momo / News Bits:
Momo: Gainers: $MPSX, $IDXG, $NAK, $REXX, $TNXP
Redbook
8:55 am
PMI Manufacturing Index
9:45 am
Existing Home Sales
10:00 AM
Richmond Fed Manufacturing Index
10:00 AM
Janus misses lowest estimate: 4Q adj. EPS 20c, est. 24c, range 22c-27c
Barclays downgrades AAPL to Equal Weight, cuts PT from $119 to $117
$PLUG Plug Power Exceeds 2016 GenDrive Deployment Goals https://globenewswire.com/news-release/2017/01/24/910309/0/en/Plug-Power-Exceeds-2016-GenDrive-Deployment-Goals.html …
Du Pont Q4 Revenue $5.2Bn, Exp. $5.25Bn;
GAAP EPS $0.29; Non-GAAP EPS $0.51, Exp. $0.42
Tableau Software upgraded to Buy at Citi http://seekingalpha.com/news/3236966-tableau-software-upgraded-buy-citi?source=twitter_sa_factset … #premarket $DATA
KB Home downgraded to Underperform at Raymond James http://seekingalpha.com/news/3236965-kb-home-downgraded-underperform-raymond-james?source=feed_f … #premarket $KBH
TG Therapeutics’ TG-1101/TG-1202 combo an Orphan Drug for DLBCL http://seekingalpha.com/news/3236962-tg-therapeutics-tgminus-1101-tgminus-1202-combo-orphan-drug-dlbcl?source=feed_f … #premarket $TGTX
D.R. Horton +2.6% after pleasing FQ1 results http://seekingalpha.com/news/3236959-d-r-horton-plus-2_6-percent-pleasing-fq1-results?source=feed_f … #premarket $DHI
Baird likes Amicus, sees 87% upside http://seekingalpha.com/news/3236952-baird-likes-amicus-sees-87-percent-upside?source=feed_f … #premarket $FOLD
$BABA up more than 4% #premarket on solid #s. Booming cloud revenue.
WestRock acquires Multi Packaging Solutions http://seekingalpha.com/news/3236948-westrock-acquires-multi-packaging-solutions?source=feed_f … #premarket $WRK $MPSX
Johnson & Johnson revenues up 2%; earnings up 20%, non-GAAP EPS up 10% in Q4 http://seekingalpha.com/news/3236945-johnson-and-johnson-revenues-2-percent-earnings-20-percent-non-gaap-eps-10-percent-q4?source=feed_f … #premarket $JNJ
Lockheed Martin beat on earnings and revenue. Solid sales for F-35, Trump’s favorite plane. But lowered outlook. $LMT down 1.5% #premarket.
Verizon down 2.5%; earnings and postpaid net adds disappoint http://seekingalpha.com/news/3236940-verizon-2_5-percent-earnings-postpaid-net-adds-disappoint?source=feed_f … #premarket $VZ
Ford to launch auto parts brand for all cars http://seekingalpha.com/news/3236969-ford-launch-auto-parts-brand-cars?source=twitter_sa_factset … #premarket $F
If you are new to our trading service you should review recent blog posts, our YouTube Channel and at minimum our algorithm Twitter feeds because they do tell a story in terms of the market and how the inflections of the market determine our day to day trading. You will notice the algorithmic modelling has been undeniably accurate with many time-frames (intra-day, weeks and months out) so I myself have learned to respect their math (they have taken me from a 60% hit rate to 80% in my trading – all publicly posted live trades).
The algorithm Twitter feeds can be found here:$WTI (@EPICtheAlgo), $VIX (@VexatiousVIX), $SPY (@FREEDOMtheAlgo), $GLD (@ROSIEtheAlgo), $SLV (@SuperNovaAlgo), $DXY (@DXYUSD_Index). . Our 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, 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: Gainers: Gainers: $MPSX 24%, $IDXG 18%, $NAK 11%, $REXX 11%, $TNXP 10%, $RMD 7%, $GPRO 5%, $PLX $PLUG $CTIC $FCAU $UGAZ $BABA $GLBS
I will update before market open or refer to chat room notices.
(2) Pre-market Decliners Watch-List: Losers: I will update before market open or refer to chat room notices.
(3) Other Watch-List: Novagold $NG, $URRE, $GREK are on my watchlist.
(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, $XIV)
(5) Upgrades:$CXP $DATA $ALSN $FOLD $CALA $OMAB $TV $MKSI $CF $MOS $POT $AGU $SLGN as time allows I will update before market open or refer to chat room notices.
(6) Downgrades:$WATT $MSTR $CCRN $AMN $ESS $PFGC $KBH $DIN $AAPL $NK $HUM $LNT $SCG 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: $MPSX, $IDXG, $NAK, $REXX, $TNXP, $UGAZ, $DGAZ, $NUGT, $DUST, $USLV, $DSLV, $UWT, $DWT, $JNUG, $JDST, Stockmarket, Pre-Market, Trading Plan, Wall Street, Stocks, Day-trading, Watchlist, Chatroom, $CBMX, $JUNO, $GLD, $GOLD, $SILVER, $USD/JPY, $USOIL, $WTI, $VIX, $SPY, $NATGASUSD, $NG_F, $SLV, $GLD, $DXY, $XAUUSD, $GC_F