Sold the Rest of GIG

I sold the remaining tranch of GIG shares yesterday. I made 8% on the GIG trade.

GIG High Flag Breakout

GigOptics GIG is a small cap tech stock. Specifically a chip tech company. The PE is super low and it's small cap. I am going to buy the breakout if it hits 2.81. I have a buy stop order out for that. Looks like a nice high flag at resistance here.

Wendy's WEN

Wendy's WEN is a trading range breakout that retested new support at the top of the old range and is holding. I bought some at 9.64 with a stop loss area of 9.20s. Decent risk stop loss with a lot of upside over 10 breakout.

Short Watch

Text book shooting star candle above the upper Bollinger band. These don't come around that often. They just reported earnings recently so its not perfect but the setup is still there for a quick trade.

New Video IMMU Flag

New video. Expand to full screen and HD for best image.

Daytrades CAT LSCC

New Video, Oil, TUES

Shorts and More Shorts

I'm short MEMP and looking to put on TUES, IMGN and IBB short.

VVUS More

Nailed VVUS!

I longed VVUS at 1.77 the other day. It printed a shooting star that day. It held up today and ran all the way to 1.95. I'm still holding it.

Crude Break

We finally got a breakout on crude oil. The triangle consolidation has been long. Crude is now a long bias on any fresh breakout over yesterday.

KTOS is New

SLP opened up very low so selling at the open got me out with a very small gain. I sold all of SLP, 75% of EXK to lock in over 10% gains and am still holding some LEE. I bought KTOS which hammered yesterday at support on volume. This was a good one and I'm up 7% on it. Still holding one contract of GDX puts which basically has served as a hedge against EXK.

EXK,LEE,GDX More

Took LEE Profits, In GDX Puts

enlarge to full screen

LEE EXK Others

Enlarge to full screen and use HD quality to see it the best

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.

Recap Of Trades

I stopped out of UA at 100 a share. STRP tanked nicely and I'm still short from 37.91 up about 9% now. I bought TRCH at 2.17 and it ran all the way to 2.44!It closed up about 8% so I'm up on that one to. Looking to lock in profit on both today. STRP and TRCH were two of my favorite setups. A spike run above the upper Bollinger band and a bull triangle.

TBT Still Good Idea

Long Watch TRCH

Uploading my latest video is taking longer than anticipated. I like TBT as a long-term position trade on a FED rate hike. TRCH is a good triangle that just broke out here. Good volume too. Long biased!

STRP Position Trades, Commentary

In this trading video I talk about my STRP short. I also analyze natural gas. I talk about my day trading ideas for the FED announcement and the next direction of the overall market.

Video Watchlist

My First Video Blog Post

Enlarge video to full screen and turn to HD quality to see it clearly.

Under Armour UA

UA looks like the next NFLX bear flag about to break. UA is just as rich on the valuations. UA has a 90 PE and trades at 6 times sales. I'm going to short it on a breakdown below 95. Technically it looks like a rounding top formation. I usually don't trade these big stocks but the 10 day average day range is 4%. So odds are it will move 4% or much more on a volatile day.

Two Shorts

BBG and CLNE are short biased watches. CLNE it looks the best for a short. Sweet bear flag

NFLX Short

I shorted NFLX at 116 and covered at 110. Crude oil looks good for a short now. ACI probably has a lot more downside too. I'm still watching nat gas after this triangle formation. It's really boring and doesn't seem to want to go anywhere. I cancelled my stop order to short nat gas.

Monday 31st

I looked through about 40 oil and gas stocks charts looking for ones bottoming out. I wasn't crazy about any setups. REXX looks like it could run this week. Others are either looking overbought already or not bottoming even with oil up 19% in 3 days. They're just messy. The exception is one or two below I will be watching. Oil itself looks like the better vehicle. Enough on that. This natural gas trust HGT probably had the best technicals. It has a 15% dividend yield to.

I usually don't pay much attention to large and mega-cap stocks but with the volatility and clean charts I'm watching NFLX and AMZN. They're both a trading range breakdown that is testing the bottom of the trading range. Technically they should go lower from here. I like these short biased. Here's Amazon AMZN below. Testing that red line of range support and not much buy volume below on this rebound. It's very weak at the moment. Overbought on RSI 2 is just a confirmation of the range test.

Next is NFLX. Same thing.

Next is a great short setup with ACI. The picture says a thousand words. From $1 a share to $8 and going. Sure it was probably undervalued at $1 but it will fall at some point this week. Maybe Monday. Upper Bollinger band shows it is way above it in the second pick below.

MPO and EOX are momo watches to.

Watchlist Coming

We got the follow through in crude oil I talked about Thursday. Oil had another run day Friday. Just looking at the S&P 500, Dow and Nasdaq it looks like a bear flag.

I'm going to run through a lot of scans as always this weekend. I will have a watchlist up before the US market opens on Monday. If you check the site for watchlists check in 9am to 9:30am eastern US roughly. Same for any other day during the week. If you get emails I'm not sure if there is a lag or not. There is usually a slight lag for me. If I don't see anything good enough for a setup I don't post anything here or on Twitter. Sometimes the setups all come at once, I have to much going on or I notice things during market hours. In that case I always have posted them on my Twitter .

Oil, Nat Gas, THLD

I had a stop order out there to cover my THLD short. I assume it triggered as Tradeking is totally shut down currently because of some malfunction in a data center. Tradeking recently acquired MB Trading and they are merging everything to tradeking. If the order filled I will have a realized small profit on THLD.

There is a long setup on crude oil after this spike day. A wide ranging day like today up 10% should get some follow through. I'm not longing it until it breaks out again though. Looks real promising. Conversely natural gas is one of the weirdest commodities. It has been perfectly immune to everything going on the past week. It's still range-bound and just hovering around support. I put a buy stop order to short UNG with DGAZ the other day. It is pennies away from triggering. The chart says short still.

The major indices are doing a bullish engulf off the lows. The rebound is very strong and could continue for awhile.

Wild Monday Results

I sold YANG and SMN. My latest trade results are

YANG  28%
SMN    16%
THLD  still short up 6% right now

Shanghai basically crashed in the Chinese trading session so by early Monday morning my YANG was up over 20%. I was up about 7% at the end of Friday. While most investors and amateur traders were panicking over their long positions held over the weekend I was only worried about making sure I got a great exit on my short ETF's.

Seeing how volatile the US futures were pre-market and how Asia had traded I was about sure we would hit Circuit Breakers  on the exchanges. SPY was very very jiggy in premarket around support. The bid and ask were flipping and going nutz. So fast. I remember clearly trading back in 2008 and how just a 7% drop on the whole market triggers a stop on the exchange for 15 minutes. I really hate it and it just causes more fear and chaos going against its supposed purpose. I mean look at how stupid they have been in China the past month with theirs.

I traded both of these ETF's in my Fidelity account. I have never had any trouble with fills with them in the short time I've been using them. I also have a Tradeking account. Fidelity was horrible Monday morning with both my orders. They never showed up as processing or anything. They disappeared for atleast 15 to 20 minutes! I couldn't even get a second order in because there was a conflict with the ghost orders I had just placed. So I could do nothing but watch as everything rallied after the open!

 I actually had to pick up the phone and call Fidelity to try to liquidate these positions. After being on hold for 5 minutes all of a sudden the orders finally showed up on their site!! For their sake I really hope it had something to do with the circuit breakers stoppage that triggered after the open. I will just stick with Tradeking for trading for now while the VIX is so high.

Almost to Easy

I nailed those setups. I filled on SMN the ultrashort materials ETF and am long and green up 5% at the close. I also bought YANG and am up 7%. I want to hold these for a another day to two if the price action goes perfectly up. If they go 1% against me I'm just going to sell it all. If there is a big gap up on Monday I will probably sell half the shares. I like trading volatility and am glad it is back for now.

Short Setups

SMN is breaking out off of a triangular consolidation. I have a buy stop order out to buy the breakout. I also have a buy order for YANG the 3 x china short ETF. It's off of a flag too. AMZN looks like a good short on breakdown as well. It's in a tight trading range. Natural gas is forming a triangle consolidation now. Very good setup coming up whichever way It breaks out.

Bonds, Dollar and PLNT

ADHD and GRBK from the previous post did exactly as I expected and fell the next day. That indicator is one of the best. Treasury Bonds TLT may test the highs as the current market environment doesn't seem concerned about a rate increase from the FED. They very well may not raise rates. The market reaction to the decision will be important. I think it's to early to commit to a long-term position shorting TLT until there is a setup around TLT resistance or a market reaction to the news. The dollar looks very weak here technically too. They'll get their inflation if that is what the FED is looking for. They will get it sooner or later. Hopefully, they will not let it get out of control when it comes.

I'm still holding a very long-term investment in PLNT Planet Fitness. They charge $10 to $20 a month for a membership while the national average is close to $40. Even in a recession they will have customers. They could even take market share. The stock is down to $16 now. I don't care. Below $12 it is a steal.

I'm still holding THLD short as well. This one is looking good now as it is breaking down finally. I shorted at 4.26 roughly and it is 4.03 now.

Two Short Setups

These two are red candles above the upper Bollinger band. ADHD is my favorite. It doesn't have that much volume. So I don't know if there are shares out there. Classic doji above upper bollie. Doji candles are reversal candles. A shooting star is too. Those are the best to see above the upper bollie. Shooting stars are the best. The second GRBK is higher volume. Same chart. They need to break below the previous days close at the least first. Sprint S is actually looking good for a short scalp too.

 

 

 

Oil Breakdown Again

Oil is testing long-term support from the previous low in March. It looks like right now it could take it out and dive even more. There should be a lot of room for shorting if it does breakdown that support. It would be a major breakdown. Today it failed miserably on the bullish engulf formation it was trying. It's a bearish engulf now. An engulf is when the days candle is just as long as the previous days but is opposite positive or negative day. Green or red rather. I drew up support and the engulfs.

Breakdown level is clear in March below. All of this came from that tight trading range breakdown from April to July. Straight out of a textbook. Jack Schwagers for sure.

I had a lot of success shorting the technical breakdown on oil with CHK and SCO. CHK is lagging a little again and appears to be bear flagging again. I might trade these two again. On another note, oil at 20 or 30s is a gift for a long term investment. We know from history that oil only appreciates over the long-term. There will always be significant dollar inflation especially with our current debt levels.

Lomg-Term US T-Bonds TLT Technicals

Long-term US bonds or ticker TLT is a spike top as I pointed out awhile ago on StockPursuit.com. A spike top is a strong bearish reversal signal. Clearly you can see the downtrend TLT has been in since the top with this chart. The red lines encompass the channel it's in. It's testing resistance here. It is actually a little above the trend line. We will have to see how it does the next few days. I'm still bearish on TLT.  Hopefully it runs up some more to give a good shorting opportunity with TBT.

Short Setup and Trades Journal

I covered all of my CHK short after that big crash day off the breakdown. It was looking like it was going to go red on the day then in about 2 minutes shot all the way to 7.20. It held the 7 area well. I immediately covered from a 8.30 short entry. I made about 12% on CHK. I also sold the short oil ETF SCO in the morning for a 4% gain.  SNMX below is up around the upper Bollinger band and is up a significant percentage in a short time. It was a good short today and could continue tomorrow.

Trades Journal

I'd like to find a good desktop recording software so I can run through charts and talk about them on the screen at the same time. I looked around not long ago and couldn't find one that didn't look like a pure virus download.  I knew of one a long time ago but forgot the name. Anyway, I had a lot of positions on lately. Some of them did what I expected the execution was just off. Briefly, ANTH -6%, LOCK -7%, QID -2%, DGAZ -9%,OHRP -6%. Still holding that THLD short.

Before that flurry I was up for the year and had more winners than losers. Those put me down a little. I knew they were going to all end up swing trades so I went a little undersized which helped. Based on my previous performance I knew the losers wouldn't continue and the gift that the oil breakdown gave just pushed me up some. I just put on oil short with SCO and CHK short. I'm up on SCO here and up very nicely on CHK short. I shorted CHK at $8.31 and it's at $7.03 now. I longed SCO at 92.84 and it's 95 now.

CHK Bear Flag

More lows look imminent off of this bear flag.

Chevron CVX Short

These major integrated oils are really getting dumped. There was strong selling volume on this new 52 week low for Chevron CVX. I expect more lows to continue so this is a good short setup on a new low below 88.01.

I did a post on the other blog Stock Pursuit about shorting long-term Treasuries awhile ago. There is a good setup to get short via the ETF TBT now. It hit some resistance in this little range it started. The stop out is about 23 on TLT.

 
 
 
 

Monday, July 27, 2015

Positions

My current positions are DGAZ long. THLD,ANTH,LOCK,OHRP short. I'm up slightly or near breakeven on all of these except ANTH. I didn't set a stop loss and have about a 3% loss currently on it. If it moves one tick above 11.25 a share which is the high yesterday I'm going to cover it all and flip it to a long. It could breakout again and it is a failed signal setup via the shooting stars failing. I'm at a turning point for this years trading. I've had more winners than losers in my trading and my account is up. It's all been coming together this year. I cut losers very well and lock in profits when they appear. My risk management has been on point this year overall.  I have stuck to clear setups too. My success on these positions will cement the rest of the year I feel.

NYMX Ran Over 100%!!!

I Traded NYMX a couple times back in April and posted it a ton on the blog. It hit a high today of 3.25! Todays trading watchlist did incredible. ANTH tanked at the open and I got filled short. I filled on OHRP and LOCK too. I never longed VLTC unfortunately. It ran as expected. I just got home and haven't checked anything since the open so I'm going to see how the positions are doing.

Update

I just posted up a couple posts below. The VLTC post. The shorts post to. I put up some indicators on ANTH and it is closing around the upper Bollinger band. With a shooting star to boot this is a great short setup on a break of Fridays low. I looked at RSI 2 as well and it is oversold. I am a bigger fan of Bollinger bands to detect overbought as is the case here. Click on the pic.

Short Bias OHRP ANTH LOCK

There are a lot of cool setups out there. These are shorts on a technical breakdown and red on the day. OHRP LOCK ANTH

OHRP is a short off this failed bull flag.

LOCK is a short on breakdown

 

 

ANTH has shooting stared TWICE here.

 

 

VLTC

Looks like a bull flag.

Natural Gas Short

It looks like natural gas is the only major commodity not breaking down. I compared natural gas to oil over the past year and they are correlated. It isn't a perfect correlation but when oil began tanking in the past nat gas followed. I remember last time there was just a lag but they will track each other in these crashes. I have an order in to buy the 3 X inverse ETF DGAZ this morning as pre-market is indicating UNG down again about 1%. After such a big candle that we had yesterday in UNG more weakness is imminent. Dive gas dive!

Dollar Breakout, Weak Commodities

I took off my QID to short the Nasdaq with a small loss. Roughly a 2% loss. I was happy to take a scratch when the price action was going against the position. All morning Nasdaq ripped higher and higher. I nailed the setup just waited to long to get short. Didn't expect such a huge gap down. I'm still short THLD and so far the price action is good.

I've been watching the USD and I see the long setup on the dollar breakout. This looks like a steady uptrend is going on. The crashing of gold and copper point to dollar strength as well. Gold is basically synergistic with the dollar as an inverse. It's not a multi timeframe breakout on the dollar IF it happens here but the upside is good. I will probably look at ETF UUP long.

THLD QQQ

I'm short THLD from the $4.25 breakdown continuation. There was a ton of support 4.60 to 4.70 area. There was a shooting star candle the day before too. So I want to short the trend resistance down to trend support. Trend support is 4.00 to 4.05ish so I will ideally cover there.

I did a post on Stock Pursuit about how overbought the Nasdaq is after these tech giants runs. The Nasdaq was flat yesterday and it looks like the futures this morning are pointing to big weakness off of Apple AAPL bad news. I will short the Nasdaq with the ultra short ETF QID here this morning on any Nasdaq weakness. Should be good for a swing trade.

Watchlist Adds

I have ANY OCLS long bias. Short bias I found some really good ones. NQ HILL CLF. These look like the breakdown is imminent.

OCLS Oil

Biotech stock OCLS looks like a big bull flag here. Shorting oil looks good on the breakdown. SCO

New Watchlist Adds

Added LBIO as a short. Big selling volume on the move down Friday. Should see more lows.

GREK the Greece ETF overnight here at 5:30 am Eastern is already down 13% from Friday. Almost a new technical breakdown below 9.76 already. Should be very volatile this week.

Couple Charts AOI GALE

I circled the hammer candle on AOI at the end of the flag. That's just a cool chart. The coolest thing is the value mutual fund managers who were buying because of the expected turnaround of this tobacco company have no idea what the chart looked like. Or the clean flag and hammer they were all creating. I peeked at Yahoo Finance last night and AOI put up some good numbers last quarter and expect a really good 2016. SEED has had some very positive press releases lately. Any of these could continue to follow through.

Recap of 6/23

Todays watchlist was very good. I meant to put neutral only for XNET because it was up so much already and a triangle. Actually batted 1000. No surprises. AOI was up 5.6%, SEED up 5%, GALE up 6.6%, XNET up 3.6%, WYY at its high up about 1%, POZN the short down 3.3%. I always like to catch the bull flags very early. The first 4 were early bull flags. If you wait instead for the breakout from the flag the breakout is way trickier to trade because breakouts fail and your risk is greater. It's just harder to find a good stop loss area. All of those above had very low selling volume on the down flag days.

Trading Watches 6/23

Long and Neutral bias we have in order of quality AOI SEED GALE XNET WYY Short POZN

Thursday 11th

CTIC has phase III results coming on Friday. Bull flag going here.

OHGI same as before long biased. Long bias on breakout this time over 5.04.

NUGN Short Bias

I posted up NUGN awhile ago as a short candidate. It looks like the downturn is in the works now. Currently at 4.30 a share.

Twitter watchlist

I posted 8 stocks here on my twitter for Monday. I'm usually more active on my twitter than here on this blog. I love Twitter as a stock alerts platform. I follow some good and great traders on there. Let's see how my watchlist performed. From my watchlist for Monday IMMU was a Nasdaq top gainer up 15%. OHGI was up 17%! NNVC finished up 5%. MELA up 3% and I think it wants more.

5 Year Highs

Looking at a quick screen of stocks hitting five year highs it's mostly medical and financial stocks. Most of the major brokerage firms like Schwab are at fresh 5 years. Most of the breakouts and momentum has been in biotech lately. I'm going to go on a limb here and say the biotech index hits a new high soon. IBB isn't saying new high in the chart, rather it is stalled. IBB seems pretty happy up here though.

What I'm Looking At

I haven't made any trades in atleast a few trading days. I'm still running screens every night. I've had a couple stop orders out there where the stock never moved and subsequently I canceled them. The last one was on SPXL the 3 X leverage bull S&P 500 index. The Russell 2000 looked particularly bullish as well. The setup is still there long on the S&P here. It's on trend support. If I trade any indices like SPXL I'm going undersized in the position. MTNB looks good long. It is OTC though so make sure to protect profits and sell all of position into highs.

For Wedn 27th

Strolling down my watchlists. LAYN is my first priority. MNKD is a long bias. It's in a bull flag. You can always confirm a bull flag by declining sell volume day after day in the flag consolidation. Most people will just look at price. Volume is equally important though. If it hits over 4.91 tomorrow it should run. I have three watchlists. Long biased watches, short watches, and position trades. Position trades are mostly indices, us dollar and maybe a couple stocks. All the lists are pretty small watchlists. The most I'll have on one list is 15 max. I have 10 long/neutral, 6 short and maybe ten position.

NYMX back on radar. Trend support widened out some. Trend support does that over time. It looks to be hugging new trend support. Still not many sellers on the daily volume. If it clears 1.60 it could pop.

Next one is going to drop like a rock any day now. This is a gift. Short short short. Hopefully there are shares out there.

Last short watch is VBLT. It has never held big gains well. Looking at the chart history it sells off after a big run.