Charts below update daily with the most recent market prices.
"Scan" just means a stock idea. Comes from me 'scanning' through hundreds of charts to find opportunities.
When introducing new terminology I will try and link the word to an Investopedia article about the term.
VIEW LAST WEEK'S TRADE IDEAS HERE
UPDATES THURSDAY - 10/13/2016:
Markets are all over the place. Huge drops below support today followed by an insane rebound to close just a little below flat. With all of the selling it will be hard for a lot of the plays to have follow through, so if you're up a decent amount don't be afraid to sell.
Working trades:
TRXC -8% - rough day. Holding above $2, but make sure you have stops in place
NUGT +5.4% - Another big day. Hit $13.50 today, which is in my target range. Still like it but be careful.
DGLY -2% - breaking down it seems. Will keep this on my watchlist for a more long term play, but I don't think I would buy this now.
AKAO +0% - consolidating
UPDATES WEDNESDAY - 10/12/2016:
Working trades:
TRXC +11% - here is the breakout! Great play, hit 2.33 today from 1.84 alerts. That is pretty close to my target, I would say sell some shares on a pop and let the rest run if you want to
NUGT +6.5% - I know I said I took this off yesterday, but sweet rebound today as called. Still like it following initial trade plan. Be careful
DGLY -.8% - getting very close to support, make sure stops are in place if you took this idea
AKAO -2% - closed below $5, keep a close eye on this one as well... might be consolidating but might be turning on us
UPDATES TUESDAY - 10/11/2016:
Yikes. Today was the day. SPY down 1.3%. Broke down out of the triangle pretty hard, just as hoped and expected. Now one day does establish a trend, so we will have to keep an eye on what happens over the next few days to really see where we're going. This big down move in the markets killed some of my trade ideas, but as long as you had stops in place and sold when it was up, you should be fine!
Working trades:
TRXC +.3% - close, needs to break and hold over $2 before a real good move comes.
DGLY -.5% - waiting
AKAO -3.3% - still looks okay. Would have sold some at 5.20s yesterday and moved stop to maybe a little below $5 to be safe.
Done with:
NUGT -7% - shew... bad day for this. Chart is still in tact because it hasn't broken below the trend line.. I still definitely like it for a rebound, but this is an intra-day type play not a buy and hold. So unless you know what you're doing don't try this again.
VCEL -15% - killed. As long as you sold some shares around $3 and moved your stop up you should've been fine. This is off watch now.
UPDATES MONDAY - 10/10/2016:
SPY closed right at the top of the channel it has been trading in for months. No big break up or down yet. SOON.
Working trades:
TRXC +3.5% - move starting
NUGT +1.25% - same plan
VCEL +5.6% - breaking out of consolidation, like this for a move higher again!
DGLY +.5% - still waiting for the breakout to confirm my trade plan
AKAO +6.8% - awesome! On break out watch tomorrow. Idea last week at $4.79, now at $5.30 after hours trading today.
PLAN FOR THIS WEEK
I'd bet anything that this week, maybe as soon as tomorrow, the indexes (DOW, S&P, Russell, NASDAQ, NYSE) have a BIG move. Triangles like the one below are typically followed by a very big move (either up OR down), which ever way the indexes break out of this triangle will likely establish the trend we will have for the coming weeks/months. I thought the break might come last Friday, and it was close, but it looks like it will have to be this week. This is good! Whether the indexes shoot up or down it will create plenty of opportunities for us speculators.
Stock price when posted: $1.84
"TransEnterix, Inc., a medical device company, focuses on the development and commercialization of surgical robotic systems." - Yahoo Finance
This is really looking nice for a move. Great trend going.
Trade plan:
+ Buy around $1.80, stop loss at $1.75ish
- $2.40-2.50 is an ideal target, as always sell on the way up and keep moving up stop loss
Stock price when posted: $11.90
NUGT is an 3x ETF that follows the gold miners index. Leveraged ETFs like this one are quite complicated. They are built specifically for trading, not to invest in long-term. Learn more about it HERE. Gold and gold miners have been beaten down the last couple of weeks and if we see downside in the market, people will flock to gold again and I believe we could get a nice rebound on this one. Risky idea!
Trade plan:
+ Buy around $11.50-12, stop loss at $11
- Sell on any big move up because it could reverse back down just as quick as it pops up, target is $17... realistically though I would be happy to sell from $13-15
How do you calculate your stop losses? The $11 stop loss on NUGT was a good pick, got pretty close to $11 today.
ReplyDeleteDo you see that blue trend-line on the chart above? That's there for a reason. $11 is where NUGT has "support". If it breaks below $11 there is a good chance it will continue lower and if it is able to stay above there is a good chance of a solid rebound.
DeleteThanks for the speedy reply! Have you ever used ATR to calculate your stop loss?
DeleteI have not, although I know some people who do.
DeleteI only use volume, price, support, resistance, trend-lines, VWAP, and every once in a while "volume at price", as indicators.
Just curious about your thoughts on pot penny stocks ...heard of some pretty incredible gains happening to some and be interested in hearing any ideas you might have
ReplyDeleteLook at my prior weeks posts. Think it was maybe two weeks ago I talked about it.
DeleteBought into TRXC this morning at 2 even, thanks for the idea looks like a nice moving stock
ReplyDeleteYes, awesome break out today. Can still have more in it but make sure to take profits along the way. Congrats!!
DeleteYes i've sold half thank you again, how would u feel about holding this for a longer term? Think it will keep this up trend?
DeleteIf it can get over 2.25 and hold above that level then sure I think it is a decent mid-term hold. Hold it 'til it stops working. If it can't I'd be careful.
DeleteTRXC thank you sir.
ReplyDeleteWhat do you think about ACPW. What's the target price you're expecting it to reach? I got in at 0.24
ReplyDeleteI sold ACPW for break-even yesterday. However, it is still on my watchlist. If it can break over .26 with some volume I think .35-.40 isn't out of the question.
Deleteso I bought DGLY today at 5.89, is this too dumb of a move? Should I hold? I did put stop at 5.46. What do you think? Or is my money better somewhere else? I am really not sure about this one. Today the news came out but stock didn't surge as I had hoped or maybe the big move already happened and it's downhill now. Resistance is at 6.07 according to my stats. My gut tells me to hold but sad to see red. I am just starting out and around the same age as you. But no finance degree. If you can advise me on this i would be super grateful. I will keep checking for more updates from you. This is great blog as I begin my investing journey.
ReplyDeletebecca
I can't tell you what you should do with your current position, because 1) I do not want to be so involved with another person's trades and 2) because it is so important that everyone learns to make hard decisions on their own.
DeleteIt is so important that you have a plan before you make your trade. This allows you to take emotional decision-making out of the picture and allows you to trade solely off of logic. While this is not always the case, even for me (I do stupid emotional stuff more than you'd think), it gives you a better chance at success.
So, now that is said, create a new plan of attack and stick to it. If 5.46 is your stop, which is not a bad idea, then keep that plan. If you were watching the daily chart of DGLY, you should not necessarily be surprised by what happened on Friday. Take a look > http://imgur.com/a/C3bpa
See how it was able to pop above the downtrend line, but couldn't hold above it at around $6? When it fell below the trendline I knew the next support was $5.55ish. And that is exactly where it went... it filled the whole triangle from top to bottom. So, good news is we still have that support at 5.50 something, bad news is we still haven't broken out of the triangle. Until we do either, it could trade in that range for a while. Hope this helps.. I'm not sure your understanding of charting and technical analysis so if you have more questions go ahead and ask away!
Thank you so much for your reply. I agree about making decisions on my own as I progress on my investing journey. I think I will get better with experience. I am getting better at planning. Stop loss have been huge help in this since it takes that emotional part out if things go downhill and i start being all optimistic about ever bringing the lost cause back. At the moment I am learning as much as I can about both technical and fundemental analysis. I would say I need more learning and experience in working with trendlines especially in short term trades. I have been working mostly off of support and resistance to predict breakouts. So in this case if dgly passes $6 then the resistance becomes support and new breakout will be initiated. Of course there are exception to this. This is what I am doing now but I continue to study more and more about the analysis part. I have always being keeping up with news and other details about the company too. I so greatly appreciate your willingness to teach because at the moment second bachelors in finance is too much costly for me. Thanks Wolf.
DeleteI will come at you with questions if I have them. :) I do have to say now I wish I had majored in finance, I really love this stuff. :)