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Worth watching
EME - setting up in a Cooper 1-2-3-4 pullback.
JTX - bottoming out just above the 20-day EMA.
EME - setting up in a Cooper 1-2-3-4 pullback.
JTX - bottoming out just above the 20-day EMA.
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Worth watching this morning
CTCI - symmetrical triangle and holding the 20-day EMA.
IWA - possible short. Gapped open lower yesterday and fell hard but bounced off the 50DMA.Comment
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Upside bowties for next week
AIXG
ATRS
AFG
AMSC
AMPX
HRT
BTRX
CCMP
CZN
CRED
GEHL
HSC
PTIE
PEC
RENT
RSYS
TLM
TOC
TAC
VTAL
1. The MAs shift from proper downtrend order (10-SMA < 20-EMA < 30-EMA) to proper uptrend order (10-SMA > 20-EMA > 30-EMA). What you're looking for is for the MAs to converge and then spread out again, giving the appearance of a bow tie.
2. Today's low must be less than yesterday's low.
3. Tomorrow, place a buy order 1 - 2 ticks above today's high good for tomorrow.
4. If not filled, continue to work the order above the prior day's high good for the next trading day until either filled or the stock trades below its 20-day EMA.
5. If filled, place a protective stop below the lowest bar in the setup.Comment
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HIgher oil?
With BP taking 8% of US production off-line, I'm expecting Sept. crude (CLU06) to break out to the upside. It has a very low ADX (12.84) and had a positive DMI crossover last week.Comment
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Let me AXE you a question....
AXE overbought and looks ripe to pull back a couple of points.Comment
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Rate hike odds
From Bloomberg:
"Futures prices show traders calculate about a 79 percent chance of a Fed pause today. The yield on the August fed fund futures contract is 5.29 percent, compared with 5.33 percent five days ago, when prices showed a 41 percent chance of a pause."Comment
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China breakout
FXI gapped open higher and is trading at a 30-day high. Very low ADX (12.44) and rising stochastic/RSI suggest the move will continue.Comment
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Bow tie candidates for next week
APN (also, a Cooper 1-2-3-4 candidate)
NOOF
AGII
AQNT
FSN
TPC
1. The MAs shift from proper downtrend order (10-SMA < 20-EMA < 30-EMA) to proper uptrend order (10-SMA > 20-EMA > 30-EMA). What you're looking for is for the MAs to converge and then spread out again, giving the appearance of a bow tie.
2. Today's low must be less than yesterday's low.
3. Tomorrow, place a buy order 1 - 2 ticks above today's high good for tomorrow.
4. If not filled, continue to work the order above the prior day's high good for the next trading day until either filled or the stock trades below its 20-day EMA.
5. If filled, place a protective stop below the lowest bar in the setup.Comment
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If You Know Options, You’re Likely to Know Stocks
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I have lots of learning to do. I have only begun to scratch the surface of even understanding options. I know the basics, but I have not been able to form a strategy. I find a lot of value in seeing what people think of a stock's future by looking at the option chain participation. I can't make any good stock picks from it, yet, but I'm trying to learn. If you know of anything I need to be reading to be able to form a stock picking strategy based on option chain participation, please put up some more links.Originally posted by DSteckler View Post
Do you know of anyone that has a subscription to SBOE database? If you did what this paper says, then at a bare minimum, you only need $6000 just to break even on your purchase of the subscription. But, If you are really good, those "double digit returns" may be much higher than just 10%, and this could be an easy way to invest. I am interested.Hide not your talents.
They for use were made.
What's a sundial in the shade?
- Benjamin FranklinComment
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Peanuts, you've posted that you're averaging a 240% annual return (20%/month). Why do you care about option strategies?Originally posted by peanuts View PostComment
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HA! I wish it was like that overall. No, see, I breakdown my entire financial portfolio into 3 groups: Long Term, Mid Term, and Short Term. The allocation of funds is approx 50%, 30%, 20%. Obviously, I have certain types of investments in each group- everything from an IRA that has stocks and one that has mutual funds, a small money market fund, a few bonds, lots of stocks, and ETF's, to actual gold and coins and to top it all off- my baseball card collection. However, I do not trade options or in FOREX. I do not get high double digit returns overall in my Mid Term group, so adding an option account to my MT and ST groups could help to increase my overall gain if I can follow this strategy.Originally posted by DSteckler View Post
My ST portfolio takes a lot of risk. I'm getting better at picking these stocks, and I have recorded all my trades here, so there should be no doubt. However, I don't get to see those 240% annual gains even in this group, because I do portfolio rebalancing along the way. I try to maintain my ST group to only be 20% of my total portfolio. I also vary the amount invested in each position. I do not have too much money in the low priced stocks.Hide not your talents.
They for use were made.
What's a sundial in the shade?
- Benjamin FranklinComment
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Worth watching
GI - very low ADX, indicating a very tight daily range. Volume Flow Indicator turned bullish yesterday.
NEU - C&H formation. Flat handle so far, which is less than ideal.
SHOO - bounced off the 20-day EMA a few days ago.Comment
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Dave, I like the set up on NEU.Comment
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Worth watching
MDRX - nice consolidation after the huge up day two weeks ago.
OKE - looking toppy; could pull back to the 50DMA.Comment
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