Stock Trading Plan for Thursday Feb 16, 2017 in Compound Trading Chat room. $XTLB, $SCON, $MDGS, $TYHT, $UGAZ, $SLV, $NUGT, $JNUG – $UWT, $ONTX, $VRX, $ASM, $SSH, $LGCY, $TRCH, $ESEA, $CBMX, $JUNO – Gold $GLD, Gold Miners $GDX, Silver $SLV, Oil $USOIL $WTI, Natural Gas, US Dollar Index $USD/JPY $DXY, S&P 500 $SPY, Volatility $VIX… more.
Welcome to the morning Wall Street trading day session at Compound Trading!
Notices:
Trade Results: Click review trade results post market report from yesterday.
Weekend Webinar Videos: The webinars from weekend that explain how our algorithmic chart models work for each of six ($SPY, $DXY, $USOIL, $GOLD, $SILVER, $VIX), our Swing Trading and our Live Trading Room are now posted on our You Tube Channel.
Current Holds / Trading Plan:
All small size – $UWT, $ONTX, $VRX, $ASM, $SSH, $LGCY, $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:
Most of my outlook is similar to yesterday – it seems we are in a cycle of groundhog days, although we do expect a pullback in $SPY soon and the metals look like they’re going to get aggressive again – whether they’ll break-out or snap back after some action is yet to be seen.
$SPY has been active and continues break-out but we do think it will rest / have an interim pullback, $VIX is flat and we are watching for spikes, $OIL in multi-week range and has resistance coming, $GOLD and $SILVER are struggling with resistance (Rosie the Algo pointed out at the bottom turn weeks back) and have been struggling with that resistance going back ten calendar days ($SILVER more bull due to industrial tech use of material) HOWEVER on tighter time frames Gold has broken the Bull wedge and popped out of its coiling – so take that for what it is AND there is a lot of inflation chatter, $USDJPY $DXY are at support threatening break-outs or break-downs (intra it looks like a break-down in $USDJPY may be more possible) and natural gas looks like it is near an interim bottom.
Morning Momo / News and Social Bits From Around the Internet:
Momo Watch: $XTLB, $SCON, $MDGS, $TYHT
Kate Spade shares jump 4% in premarket after company is put on block #finance #news
Valeant stock gains 3% premarket after psoriasis drug gets FDA approval #finance #news
$KATE +6.76% at 21.00 premarket
UBS and Morgan Stanley dig in on Tesla http://seekingalpha.com/news/3243983-ubs-morgan-stanley-dig-tesla?source=feed_f … #premarket $TSLA
Retailer Cabela’s, which is buying Bass Pro Shops, missed on EPS. $CAB down 4% #premarket.
$BLDP +6.6% premarket after signing an agreement with strategic partner Zhongshan Broad-Ocean Moto
Time Warner shares are up more than 1% premarket http://dlvr.it/NP1prx MARKETWATCH
OnDeck posts big loss, plans job cuts http://seekingalpha.com/news/3243963-ondeck-posts-big-loss-plans-job-cuts?source=feed_f … #premarket $ONDK
#NetEase Q4 #earnings beat as mobile games revenue jumps 62.8% Y/Y. http://twitthat.com/ydXQM
$NTES +8.33% at 283.65 premarket #stocks
Applied Materials stock climbs 1.4% premarket after Q1 results late Wednesday http://ift.tt/1jZ0H4s
MGM Resorts shares up 1% premarket http://dlvr.it/NP1TZx
Shire Q4 top line up 122%; earnings up 63%; cash flow ops up 51%; shares up 3% premarket
If you are new to our trading service you should review recent blog posts, our YouTube Channel and at minimum our algorithm Twitter feeds because they do tell a story in terms of the market and how the inflections of the market determine our day to day trading. You will notice the algorithmic modelling has been undeniably accurate with many time-frames (intra-day, weeks and months out) so I myself have learned to respect their math (they have taken me from a 60% hit rate to 80% in my trading – all publicly posted live trades).
The algorithm Twitter feeds can be found here:$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: $XTLB 61%, $SCON 37%, $MDGS 34%, $TYHT 22%, $RUBI $WINT $CSLT $BNTC $NTES
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:
(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: $DVN $MDCA $MFS $CIGI $NGD $NTAP $CIM $EVR $RF $CAVM $ITT $SPWR $BAC $SSNC $DCP as time allows I will update before market open or refer to chat room notices.
(6) Downgrades: $SYT $CFMS $BMA $OZM $MOH $XXIA $ADI $HAWK $WFC $TCO $BXMT $GDDY $IDTI $TECK $TSRO $SONS $GRPN $KHC $WFC $IFF $SLF 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: $XTLB, $SCON, $MDGS, $TYHT, $UGAZ, $SLV, $NUGT, $JNUG – $UWT, $ONTX, $VRX, $SSH, $ASM, $CBMX, $JUNO, $DUST, $TRCH, $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, $NG_F, $SLV, $GLD, $DXY, $XAUUSD, $GC_F