Some For Wedn 30th Sept

I went through my usual scans and looked at probably 150 to 200 charts. The two sectors that flooded the day rangers scan were biotech and energy. All these bios are looking about as oversold as IBB itself. Didn't see anything worth it over IBB outright. All the biotechs in play have had their beating. There are some interesting setups forming in energy and silver with crude oil still in its triangle consolidation. Let's start with long biases.

So first is EGY an energy right on trend support. Doji even.

Next is an interesting one. LEE which is a former runner. This thing goes when it goes. Bull triangle trying to put in a bottom. Sure thing on $2.00 a share hold.

Lastly a short bias. NJR a red candle above upper Bollinger band plus overbought.

Working on Tutorial Projects

I'm working on some posts that explain how I trade in detail. The first one is going to be an overview of my trading style and an introduction to momentum trading. I'd love to go into all of these. Some of the concepts and topics just off the top of my head. Chart patterns I look for, how to trade each chart pattern, how to read volume, risk management and position sizing, technical indicators, how I find stocks in scans.

CLNE Daytrade Recap And More

Today I trade CLNE short for a 5% gain intraday. In the video I look at oil setting up, miners. I talk about internal trend lines and how to trade them. Enlarge to full screen to see details.

More Setups For Week 0/28

Crude oil is in a triangle right now. It's a very clean triangle. The push out of it will determine the next direction. GDX is a bearish looking triangle too.

Good Setups

I found a couple good setups. One long and one short. CLNE is a short setup off of resistance. Any new low from Friday is good to take it short.

TRCH is looking to test the highs it just put in. It printed a hammer candle on volume.Good long on a break over Fridays high.

No Trades Friday

I didn't make any trades Friday. NYMX printed a red candle above the upper Bollinger band. It's a short watch now especially considering it doesn't hold big runs well.

Clear Trading Range on Crude Oil

I talked about how I thought crude was near support in the previous video. Well the print it made today on support is bullish here. It's a hammer candle right off support of the trading range. It's good for a long setup on a high of day. Ticker USO looks good as a long or I might do call options. The 15.00 October calls look good. Of course if it doesn't go green on the day and just tanks there is no long setup.

Covered Everything

I covered the other half of NOG in the 4.50s. That was my planned area to cover everything. It is right at trading range support here. I made 6.5% overall on NOG. I covered all of ATW for a 5.8% gain. I made 2.6% on STRP.

SMED Ascending Triangle

This is text book ascending triangle. Perfect bull ascending triangle followed by strong breakout on high volume. I think this one SMED has some more runs coming. It's a good buy if it holds above yesterdays close. It's a medical waste disposal company only 146 million market cap. Good earnings growth.

Short ATW

I shorted ATW on the breakdown of this bear flag it is in. I filled around 16.19. I sold half of NOG to lock in gains. still short remaining half of STRP.

NOG Drop!

NOG was a great trade for me short from 5.05. STRP continues lower.

Kick The Can Again

I'm disappointed they didn't raise rates. I'm not surprised though. I should remember that you can't expect the FED to ever do the right thing. Or even know what is really going on. I remember Bernanke would hold press conferences and be adamant about the bottom in housing and the strength of the economy. That was in early 2008! I sold a little over half of STRP and all of TRCH. I got a bad exit on TRCH at 2.22 but still made +.05 a share gain and ok partial sell of STRP at 35.47. I almost bought some calls on GDX. Seems to be the only thing strong along with TLT. Forgot in the video the USD looks very bearish here.