New all time Highs

Tuesday 11/21/17

Short Trading Week

Overall Market-

Dow, S&P 500 and Nasdaq all reaching record highs on the back of upbeat corporate earnings, bullish economic data and measured gains across Asia and Europe.

Adding to the positive sentiment was a note from Goldman Sachs (GS), with analysts saying they see the bull market continuing into 2018. That's even as it sees tax reform headwinds facing the tech sector. Industrials are set to benefit from tax changes while financials are likely to gain amid higher interest rates, Goldman said.

Swing trading will remain my focus through the what I am hoping will be a fantastic Santa rally this year.


VIX (Volitility) Massive decline today. Volatility squeeze will come, but not this day.

NVDA Price target upgraded ($250) long term buying opportunity. Running with market, I will likely not get my add here. Great grind on this name.

FCX (Freeport) (no change) 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) stopped out here, the long term down trend is at a boiling point here. Will continue to wach for break of down trend.

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. Price needs to move and close above $11.50 before we can move higher.

SNAP (snapchat) $12.30 support still hanging on here. Expecting this to breakdown and test all time lows.

TWTR (Twitter) Update: Purchased 500 shares to swing at $21.00. Breakout potential for tomorrow. Great volume at close and price action is very bullish here.

 

 

Trend Watch

  • $IMGN (a Bit of price recovery here after holding and testing $5.63 support.)
  • QBAK (possible removing this play, volume is too weak to properly trade any real size here.)


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. Price action remains very strong here. Bulls are grinding this one. Waiting for breakout.
  • $INFI (Holding 500 Shares $1.91, will look to trim size at $2.21. Stop here $1.75) Pendant formed on daily chart. Price target $2.85-$3.00, will continue to hold. Make note here that if price breaks below 200dEMA with conviction triangle pattern is showing short to $1.25 use caution.
  • $ONCS Update: like this play, would like to see consolidation above $2.00 to allow for technical to cool off a bit here. Support held at $1.95, by a thread.

  11/19/17 low float plays

  • MARK Update: daily looking weak , RSI way overbought here. needs to cool off.)
  • LBIX (still on watch here, grinding and curling. chart is ugly but has potential.)
  • 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:, will continue to watch may buy for swing. 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: crazy strong move here, may continue. Technicals are well overbought but irrational can remain for a while
  • 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: spiked here and could not break $2.00, major rejection of price. May look for a re-run but most likely this one is over for now.

CLSN: Pre-market move here ruined any chance of breakout over $4.00. I will look to re-enter here at $2.50 after gap is filled. Strong potential here for long trade.

GROW: Bought this today at $3.07, this is a crypto/bitcoin play, huge spike on 5 min of half a million volume. Rumor of blockchain play. Holding for swing, may breakdown quickly but a move to $4 is possible here.

 

Low Float/Small Cap momentum-

Momentum is still alive however, I am expecting a slowish day tomorrow before the holiday. I will not force any trades. If there is a runner there is potential for it to be one huge focused play that all retail will be jumping in.


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:

I have no intention of running my holiday and family time because I lost a small fortune just before Thanksgiving. With that in mind, I may not trade at all, as my swing trades are well in place and underway.

Enjoy this extended period of incredible gains, we are in a time that I truly can not recall such prolonged price action and strength.

If I do not see or talk to anyone, I just want to say THANK YOU! I am grateful for everyone in our community. Enjoy your family and friends during Thanksgiving. Eat, drink and enjoy life my friends! 

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.