#DayTrading stocks for Tuesday’s open…

Following the green…

Had a smattering of new buy signals today on stocks in my Nifty-Fifty Stock list.  If the general market is firm tomorrow, likely these will perform well to the upside.

The five stocks are: WING, which has netted 17.3% on these day-trading signals year to date;  TASR, netting 12.6%; BID, up 46.7%; SLCA, up 36.9%; and Z, up 27.1%.

What I’m looking for now, of course, is follow through for today’s buys on tomorrow’s open.  I will use a five-minute stop (that is to say, each stock needs to be above it’s open five minutes into the day).

These are day trades intended to be closed at the end of the day and not held overnight but there is the option to hold longer if the general market shows signs of less chop and some rally (for instance, as a swing trade initiated on these signals, Z is up a splendid 60.7% year to date).

UPDATE:

As always, this discussion is only for entertainment purposes and should not be construed as trading or investment advice.

(right click on chart for a larger view of the buy signal on this sample chart)

DAYTRADE_2016-08-29_2313

 

$SPY – trending day in the works?

Following the green…

After coming into the day from Friday’s late-day weakness the market so far today has had a reversal and is trending up, giving buys on UPRO, TQQQ, TNA, XIV, the futures, call options.

(right click on chart for a larger view)

SPY_GREEN_2016-08-10_0615

$DUST – my prettiest charts

After the gold stocks’ long run, DUST, the 3x-Leverage Bear ETF, is finally having its swing to glitter.  Up 20% in the the past two days, 36% from a buy signal seven days ago.

Today’s blast looks climatic. So the prudent strategy, me thinks, would be to take some off or at least snug up the stops.

Almost needless to say, DUST and its direct bullish counterpart NUGT can be extremely volatile capable of double-digit advances or declines on any given day.

(right click on chart for a larger view)

DUST_2016-08-24_1028

$KC #Coffee – swing traders’ dream

Coffee has been swinging from oversold to overbought and back again on a consistent basis for more than a year.

Last year, January through December, was spectacular with more than a $30,000 gain on margin (current margin requirement is $3,100 per contract).  This year not as much but still great –$10k plus so far.

Should be noted that the commodity may be in transition.  It appears on a longer term basis coffee has moved from bearish to generally bullish with what appears to be no less than a rounding bottom on the daily chart.

The commodity’s active contract is overbought and can go higher but that trade is on so not worth chasing.  The next trade will be a short.

(for a closer look at the swings right click on the chart)

Coffee_2016-08-24_0852

#DayTrading – the super six stocks

Six stocks for tomorrow from my Nifty-Fifty stock list — BCOV, QUAD, TRMB, SSRI, HPQ, IBM. The “Super Six” if you will, or at least that is the hope…

These are on new daily buy signals for the open to be sold on the close for the day.  If the market is negative, which could drag these down, I will use a stop on five-minute bars  five minutes into the open.

Year-to-date, BCOV is up 53 percent on these signals, QUAD up 71%, TRMB up 25%, SSRI up 72%, HPQ up 31%, and IBM up 24%.

All posting here are for entertainment purposes only and not recommendations for any action, buy or sell, but this strategy — given it is in the morning, out in the afternoon, never staying overnight — is probably ideal for pattern day traders who want to get away flat for martini time.

 

This market could scream higher…

Call this a perspective on my Nifty-Fifty stock list.

Yesterday, there were 44 of the 50 stocks on sell signals.  That usually marks either the beginning of a bottom or the bottom itself.

On the up day today (however small) one has to lean to the idea this is the bottom itself.

Ask me, this is hard to believe since the market virtually has not gone down at all. So it seems this is a sideways move that will vault (scream) to new highs again soon. Maybe tomorrow.

Note on the chart below the past instances of 40 or more sells on the Nifty-Fifty.  Hard to believe but pretty plain to see.

(right click on the chart for a larger view)

NFTY50_2016-08-18_1435

$SPY – a choppy day…

Following the green…

Up from the open, back down to the open, back up to the highs at the close — so call it a choppy day with an upward bias. Ideal for scalpers but hard to play for everyone else.

Best move came midday into the close with the near week SPY 218 call up 27% on the intraday trend signal.  System took that off at the close in order to move to next week’s options but the market will open tomorrow with the up trend intact.

Not much more to say.  Will look to be long (at least initially) on tomorrow’s open.

(right click on the chart for a larger view)

SPY_GREEN_2016-08-10_0615

 

 

$SPY – the intraday uptrend…

Following the green…

The market reversed to an uptrend intraday apparently in anticipation (hope) there would be neutral to good news from the Fed minutes.

Near week SPY 217 calls up 25% at the moment.

UPDATE ON THE CLOSE:

(right click on the chart for a larger view)

SPY_GREEN_2016-08-10_0615

 

$SPY – updating the intraday trend…

Following the red…

The resumption of intraday downtrend from late Tuesday into the close continued on the open today.

At the moment, the near week in the money 219 put is up 64% on the signal, 39% from today’s open.

UPDATE: the 219 put is now up 87 percent on the signal, 57 percent from today’s open (percentages are shown on the lower right of the chart, green for the trend signal, yellow for the day trade).

UPDATE2:

Appears the midday chop may be beginning, so tightening stops.

(right click on UPDATED chart to view a larger image)

SPY_RED_2016-08-09_0957

 

$SPY – a note on market timing…

Following the red…

After a nice eight-day swing to the upside, SPY tripped a bit today into a red candle.

That goes along with a down trend in market breadth that has been going on now for 15 trading days, and goes along with a two-day uptick in the VIX, and 19 stocks on my nifty-fifty stock list gave sell signals today.

All of these indications (and a lot, lot more) are bearish but it’s been hard, thanks to the Fed, to get the market to go down so the obvious question once again remains: is this a Jan/Feb/Brexit drop coming, or just another one day dip?

Hard to tell, but red is red until it’s green again.  That simple.

Me thinks the downside has to be played (with tight stops of course) because one of these days the dip is going to become a drop before anyone can catch it. Needless to say if a drop becomes a plunge it will pretty much take everything with it.

(right click on the chart for a larger view – focus on the red candles at the moment)

SPY_RED_2016-08-09_0957