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.