Tuesday Before Thanksgiving

Monday 11/20/17

Short Trading Week

Overall Market-

Market closing modestly positive following a report that leading economic indicators surged 1.2% in October.

Broad market concerns weighed by political uncertainty from Germany, where negotiations among political parties broke down late Sunday. German President Frank-Walter Steinmeier had called for cooperation among the parties, urging them to go back to the negotiating table.

President Trump to announce further sanctions against North Korea tomorrow.

Tensions are high between political topics and Tax Reform. I would not be surprised to see some kind of dip on this short week.

 

 


VIX (Volitility) levels declined today. I will look to trade long VIX related. Should be a good trade opportunity given climate.

 

NVDA Price target upgraded ($250) long term buying opportunity. I would like to see this pull back some, a nice buying opportunity around $200 would be great here. Not looking to day trade as price is too high to leverage on this name.

FCX (Freeport) Grabbed some shares here $13.84, this is $0.20 higher than my ideal entry. Only 1k size on this position. Did not alert this trade for our service, feel a bit like I'm chasing here but I do believe in a move higher on this name.

CHK  (Chesapeake) Weakness in this name. Price rejecting $4.00. Stop still in at $3.80

XLE (SPDR Sector energy) Price recovery here, back in channel, will look for energy swing plays based on this pull back.

AMD  (Advanced Micro Devices) Alerted here at $10.90 (11/15/17), stop $10.50, removed 1/3 position at 20dEMA $11.70. Strong selling before a moderate recovery. Slightly down on the day. Will continue with swing thesis here.

SNAP (snapchat) Failing to break critical pivot resistance and selling off with volume all day. I did not short this, price not was not high enough to be attractive as a short candidate for me.

TWTR (Twitter) Update: Purchased 500 shares to swing at $21.00, This entry feels a bit high but chart is showing sign for continued move. Bullish price action here. Long setup forming. Will look to swing this. Long term target $25.80, stop $17.00

 

 

Trend Watch

  • $NGL (breaking down, no position for me, may be removing.)
  • $IMGN (Bears look to have won the key price level on this ticker. Will watch for a recovery and swing potential.)
  • QBAK (Trend is long, MACD and RSI both looking indifferent on this price action. Still believe in squeeze here just do not feel it is ready.)


HOT WATCH 11/19/17
 

  • $HMNY - Update I now own 500 shares at $13.40 here. Trend is strong, this may end up being a strong buy, time will tell. (Ticker is building some real strength and testing for new breakout. I will buy small size and hold for a swing here. Breakout level for scalp and momentum over $14.20. Support $10.00 for swing.) I will enter accepting the 3 points of risk for multi dollar potential swing.
  • $INFI (Holding 500 Shares $1.91, will look to trim size at $2.21. Stop here $1.75) No change, will continue to hold here.
  • $ONCS Update: like this play, would like to see consolidation above $2.00 to allow for technical to cool off a bit here. (potential reversal on daily. Levels are overbought still. Will look for price recovery above $2.20 level for entry.)

  11/19/17 low float plays

  • MARK Update: bulls in full control. I have no idea where this one can go. No position for me. (Price at all time highs, momentum could move this higher. Unsure as to price targets here, literally uncharted levels)
  • LBIX (Nice end of day move, on watch for tomorrow.)
  • TNDM  Update: price not able to break $3.00, price action remains some what bullish, some down grades released today weighing on price.(Breakout potential above $3.12 level. Technical indicators showing opportunity for longer term bullish move. gap fill play here is still very much possible.)
  • MBOT Update: Missed my entry here, to many positions open. Chart showing great strength. (potential double bottom, MACD crossover, RSI midline cross. volume and bullish move friday. Looking for swing entry.)
  • EKSO Update: another great play here, I did not trade. Hope someone has this. Bulls in full control of price action. (Massive volume and strong price action. Almost closing above 50dEMA, this is a potential for close of 200dEMA $7.13, squeeze play.)
  • MICT update: ER not strong enough here to start a squeeze, price closed just above critical $1.00 price tag. Will watch for curl/pop but no trade for me here. (similar set up to EKSO, Monday morning Earnings, if good will watch for $2.99 200dEMA test)
  • EGLT Update: support held nicely here, will watch to see any chance of a re-run on price action. (two huge volume days, price up and down, holding $1 level. will watch for some sort of move off the psychological level $1.00 hold)

 WPCS update: Sold this today in the Robinhood challenge. Price action still strong, expecting to see potential for more bullish action. Unfortunately given the nature of this challenge, I need to focus on gains and locking profits, so profits locked here moved on.

CLSN: Former runner up after hours, high alert here for tomorrow move. Disclosure: I purchased this today in the Robinhood account, entry price $2.16 (50) shares.

 

Low Float/Small Cap momentum-

Momentum is still very strong and concentrated again in a few tickers each day. Keep shippers on watch again. DCIX ran up way to much in premarket and unfortunately killed the run potential. It did however recover later in the day after some extended consolidation.

Momentum watch: ESKO, LBIX, CLSN, MBOT, APTO ($2.25 breakout level), SRAX (beautiful pivots to trade from for tomorrows session), RIOT (blockchain, bitcoin sympathy play.)


Momentum disclamer:
Use caution when trading these low float names, they can crash even faster then they rise. Lock profits and do not look back, never play the "what if" game on these names. You can be up or down several hundred or THOUSANDS of dollars in minutes and in the case of a T12 material halt, you could be in for massive pain or worse be trapped in a position for days or weeks until material evidence is sufficient to remove halt.
 

Closing Notes:

Keep in mind this is a shortened trading week. Typically these weeks will see reduced trading volumes with "smart" money. Retail traders however will run amuck when the smart money is away. Use these times to trade with strength in the names that are moving hard. 

I picked up several swings today as was my plan for December trading. I will only trade momentum in key plays that I am watching. In the past I have found my performance drops if I bounce around and try to chase all the homerun plays.

Base hits will always be my goal. It is easy to forget the importance of a trade plan in today's market but do your best to stick to your plans and trade them. When momentum does finally die, you will thank yourself for remaining diciplined and not gaining bad habbits during this easier trading period we arae expierncing.

Good luck team, Remain humble and hungry!

Disclaimer: We are not responsible for losses for any reason. We are just an investing club here, seek financial advise from a professional before acting on any of this information. This information is strictly my opinion and what i am seeing in the market. The information above is not a trade recommendation to buy or sell. I am not a licensed broker, dealer or finical adviser. Trading comes with considerable risk and my not be for everyone. Past performance is not indicative of future performance. Never trade with money you can not lose and paper trade to prove profitability before using real money.