If you looked at the big picture (Dow, Nas, and SPX500 all very slightly down), then you probably assumed not much happened. Well, that wasn’t the case. Kunal and those of you that played in the Boom Factory today saw some amazing runners and profitable intraday trades.
Here is an update from my Swing Watch List and a little bit more on how to follow it:
The Watch List is geared towards traders that may not be able to sit in front of their computers all day and trade intraday momo. There are 5 phases of the trade as indicated by the color of the cells.
Green – means that the swing setup has trigger and this is an active trade. At the end of the day, I set a new stop based on the close price. So, the next day it will continue to swing unless the stop is taken out.
White – Watching for setup to be triggered
Yellow – Watching for setup to be triggered, but I’m cautious… maybe losing interest in this trade as it drifts away from the setup entry.
Red – the trade failed – the entry was never triggered and the chart is not setup – time to move on. Every few days I will remove the ‘reds’ from the list.
Blue – Blue stocks are positions that triggered the swing (green), but have pulled back to the stop. So, blue stocks are closed positions at the stop price (price indicated). Over the weekend, I will remove the ‘blues’.
I hope that helps. I have the list sorted by profit, but you can sort columns by date, etc.
Review from this morning’s Video watch list:
The winners:
LLEN, CRME and a late strong finish from HIMX.
LLEN, CRME and a late strong finish from HIMX.
Others looking good:
EBR broke through trendline resistance. Might be swingable from here, but needs volume.
EBR broke through trendline resistance. Might be swingable from here, but needs volume.
STEC still on triangle breakout watch. Over 18 and this could go.
HAL has very tight bollinger bands and could drift up.
FTI looks ok, but really needs volume.
Stocks down from video:
NVLS is still consolidating on SMA20.. needs to hold it and bounce or I’m not interested.
RAX basically the same story
CAM – really not too interested until it gets above 51.50
GKK failed today, but might be an SMA20 rebound play… has offered strong support in the past.
PWRD failed breakout.. Needs to get over 24.30 before longs come in.
PEIX – losing interest here. Not liking the risk/reward.. but, will stay on the radar for now.
NE – failed breakout. Over 35.80 has me interested.
