XHB Chart Analysis: Homebuilders ETF Rounding Top

I drew a long-term internal trend line on ETF XHB and it shows that there is room to fall on the downside. It is still in an uptrend but got short-term overbought. The housing industry was down today even as large gains in tech and semi's came.

When we zoom in on the chart there are clear support levels that have been broken. This breakdown has confirmed a "rounded top pattern". I see a short setup on homebuilders and a move down to trend support as the target. The major names like DRH, BZH, LEN are tracking pretty closely. I'm going to watch Lumber Liquidators Flooring ticker LL to see if it can actually hold this bull flag. If not and a breakdown below $3.75 occurs I think it is a good short as they have struggled with the fundamentals.

Tasman Metals, Tasman Resources Stock TAS

I covered the technical analysis on a mining stock Tasman Metals way back in 2013. I noticed a lot of search traffic increasing for the stock in Google today. It appears it has traded on the OTC market under the ticker symbol (TASIF) for a long time. I now see it printed a trading day under ticker TAS.

I'm seeing conflicting info that has another company with that ticker Tasman Resources in Australia. Tasman Metals explores for rare earth metals in Sweden, Finland and Norway. Regardless, I looked at the Morningstar data for Tasman Resources TAS that shows robust revenue growth since 2020 and a good balance sheet. I added TAS to my watchlist based on the fundamentals and will watch the technicals as they develop.

Trading Watchlist and Market Commentary For 8-3-23

I made a new video with some thoughts and a watchlist for Tomorrow.

Subscribe to my Youtube to get new vids.

Here is the video

Stock Trading Watchlist and Market Update

I made another video on some stocks I am long and watching like quantum computer stocks. The quantum computer ETF made a new high today. I touch on some long and short ideas. Some ticker I talk about include CAVA QTUM RGTI QCI NRDY PLTR YALA ARAY QSI

New Trading Video

Subscribe to my Youtube channel so you don't miss a video. I talked about setups in various stocks and some sector and macro economic thoughts.

New Video On My Favorite Trading Software and Watchlist Run-down

I talk about my favorite platform and broker. I go through my watchlist process for certain shorts. I talk about some new tickers.

Watchlist Adds

Watching XLI for a long as it comes up to a trend support.

Short biased LUMN has earnings Aug 1. Shorts are in control.

The daily volume prints are making me believe this is a bear flag on COOK. The selling volume has increased and buying has weakened since that drop day on the 5th.

Watchlist For Monday 17th

I'm working on some code for an email form so you all can subscribe and I'll send an email for every watchlist I post here. I might just end up using a popular email subscription like Constant Contact or Mailchimp. I'll keep posting them on my Twitter here too.

I shorted crude oil by longing UCO puts Friday. The premiums are lower than USO which I usually trade. The more contracts the more fine tuning on the scaling out you can do. I like using spreads nowadays. The trend reversal setup is on a break of support. I jumped the gun with a pre-emptive entry. Looks good on any continued weakness(red on session).

I had an epiphany on an industry that is going to see AI and robotics disruption. Old fashioned perimeter security systems. The perimeter monitoring will maybe stay but if these companies don't start using these new robots they will be losers. I had already seen this bulky robots on wheels but there is another company called Knightscope, Inc. (KSCP) that makes security robots. The stock is pretty short-term overbought here but I imagine it will do fine in the long-term.

So this made me think of ADT the old security company. They don't have much cash to invest in R&D to build robots or buy the tech. I don't think this one is going to make it in the long-term. They've been struggling already. Looking at this bear flag setup for puts.

FREE is a health food brand. Nice long setup on any breakout.

I traded REMX well off this range to the long side. Now it is a short with the same channel setup.

CBIO Long setup on any move over Friday high of day. I'm not super optimistic of this because it's a bio and my glance at the fundamentals didn't get me excited. It is a perfect triangle though which has positive expectancy for me. Just a technical setup for a micro sized position.

Last one is 1.5x Long COIN Daily ETF (CONL) I like short biased. A shooting star red candle above upper bollinger band (20,2) is the "kiss of death". It's also way ahead of bitcoin on a comparison chart. It's basically a stat arb trade. COIN is short-term overbought and the leveraged ETFs unwind more when they go opposite direction of the underlying. Might do weekly puts for just a one or two day move.

Stocks I Added To My Watchlists

Good morning everyone! I ran some StockFetcher.com scans last night as I usually do and found some really really good chart setups. With so many sectors in uptrends I plan on doing more blog posts on here. I bought a webcam too that is on the way and will work on doing video watchlists in the future too.

I added Peloton PTON back to my short bias watchlist. It needs a red day first or some technical support taken out to be a setup short.

I added this China cloud computing Kingsoft Cloud (KC) Coming off a nice long flag with volume

I added a financial Banco Bilbao Vizcaya Argentaria, S.A. (BBVA) Breaking out off a triangular consolidation.

Grayscale Litecoin Trust (LTCN) This might be my favorite chart setup right now. It's in the hot industry too. This is the kind of clean long bull flag I really like and don't see too often. It even printed a hammer candle on the day. The setup is a breakout over yesterdays high $6.02. So it needs 6.03 to be a long. Really good setup. The stats I have in Tradersync for this setup has it with over 50% win rate and good expectancy.

I've been following a ton of tech news but I've never heard of this quantum computer company Rigetti Computing, Inc. (RGTI). It's in Berkeley CA so it looks totally legit. I thought only IBM and a handful of research institions were working on quatum computing. Maybe Elon Musk is not as far off on AGI predictions as I thought.

RGTI "builds quantum computers and the superconducting quantum processors. Its quantum computing as a Service platform can be integrated into any public, private, or hybrid cloud. The company offers product types of platform, research, and software tools, which are used in application areas of benchmarking, chemical simulation, education/entertainment, machine learning, and optimization."

It's trying to form a rounding bottom base on the long-term chart. It's got trend momentum.

KIND I'm hesitant to go big into this one because it's on it's third bull flag already. The higher in the trend the less likely the clean flags work out as smooth as the early ones. It's a good long bull flag though. One that got given up on like so many that are running now. Even Angi's List ANGI has a strong chart now. It's wild.

My favorite Bitcoin ETF BITO because it has very liquid options. Bitcoin is actually closer to breakout level as the ETF has some decay. Good bull flag here on Bitcoin.

Join Robinhood with my link and pick your own free stock 🤝 24 hour Trading

Long and Short Bias Trading Watchlist For 7-11

I saw a lot of short and long setups tonight in my scans so I thought I'd do a watchlist. Years back I used to do regular watchlists. I am thinking of doing some regularly. I'm planning on getting a webcam to do some video watchlists also. Long Bias ACIU. Never heard of this one but they have an alzheimers drug in phase II. Bull flag breaking out. The big spike is promising to see more high day range if it keeps pushing.

RWLK big momo came into the stock. It has a history as a runner years back. In 2021 it had two big runs.

VTRS is a drug company. It is testing trading range resistance with a triangle here. Looks bullish. It needs to hit 10.03 to be a buy.

JetBlue JBLU testing major resistance. Could be explosive it it holds it.

Short Bias Watches On Supernova pattern.

Supernova on normal companies is essentially a mean reversion play. On garbage pumps it's less mean reversion and more just finding true price discovery which is worth what it was before the move up haha.

I'm only planning on doing puts on these if I catch the setup. They may start to reverse today or many days. But the top is getting closer. The short setup on Supernovas is it has to be RED on the day and taking out support levels. It MUST show weak technicals to be a short setup. The ideal way to trade them is to wait for the first red day to finish and short breakdown the next day. Sometimes they drop so much the first red day though.

AAOI is a big supernova above the upper bollinger band.

FNGR has a history of run and dump. Above upper bollie too.

I'm super cautious here on RIVN. This is one that it's safer to wait for the first red day.

Join Robinhood with my link here for 24 hour trading 🤝

Watchlist 12-7

Long Bias

DS DOW GRIL CFMS

Short Bias

OPEN W CAT PTON KALA BMTX CONN TSLA TME ABEO CVNA DISH EXFY TRVN FAZE ANGO AMPX

Big Week! Watchlist for 12-5

Long Bias

CLF DOW ZEUS STLD IYM DS IRBT BLI WRN AMRS NWTN CFMS XLY

Short Bias

NEON ZH VAPO ANGO PVBC BMTX DCFC OPEN VCSA UVXY TTCF LE PTON CLOW XOM XLE FDMT

Watching this triangle neutral on ABEO

Watchlist 11-16.22

Long bias

TLT NCMI AFMD PRTS TBLT NVTA HOOD

Short bias

PTVB GLYC EVER MDRX CLOW CVGI PCG NNDM KNDI BYND CHWY DISH MPLN DS

Watchlist 11-15-22

Long Bias

NCMI DMTK NVTA IRN DWAC OTRK SATX COSM HOOD

Short bias

JBHT GRWG CVGI GLYC SLS MDRX PCG CABALGHL KNDI LASE APLD BITO

Near 52 W Short Bias

UP ANGI AIRS TIL OPEN NRBO QTNT

Trading Watchlist 11-14-22

Long Bias

NCMI needs a break of .59

GLT needs 3.60 break

DWAC needs 26.50

COSM

SATX needs 12.54

BABA

APTO

Short Bias

PCG needs 14.64

MDRX needs 18.01

LASE needs 2.71

CLOW needs 1.64

VERU

APLD multi-day

Watches for 9/16/2022

IRNT is still short bias. Management canceled the conference call, refused to provide earnings guidance and the CEO quit all just now.

Some Short bias

XLE NERV MPLN STAR WISH NAIL JWN EXPR

Some long bias

PXMD FREY JWEL JDST

Day Trading Watchlist Gold Stock for Monday September 23 2019

Day trading alert on AKG a gold miner if it hits 1.03 area or green on the day. Great long triangular flag. This is one of the best looking charts I have seen in awhile. They are bordering on profitability too. Gold is acting well overnight to boot.

Trading Setups for Thursday

As I posted on Twitter I'm bullish on the Nasdaq index and ETF QQQ especially with Apple AAPL breaking out of a bullish ascending triangle pattern. QQQ being above the trading range it has been in is bullish on a breakout. Futures are up so it looks like off to the races.

Day Trading Alerts Watchlist For Tuesday 10th 2019

Here are my day trading watchlist alerts. These are long biased and signals if the price goes green on the day(positive).

  NTEC TXMD FCEL NTEC needs to hold $1.00 a share first.

These are momentum plays. Follow me on Twitter

Still Going

The bull market is still in full force as I was talking about on StockPursuit.com. I'm long ATI from the 18.50s. It's still good here. It's a steel stock that hasn't really run yet. CMLS is one I'm keeping an eye on and my watchlist for Monday is LEI AMPE APTO FAS.