Charts below update daily with the most recent market prices.
When introducing new terminology I will try and link the word to an Investopedia article about the term.
All posts are for informational purposes only.
Trading isn't easy and you could lose a lot of money, do so at your own risk.
VIEW LAST WEEK'S TRADE IDEAS HERE
UPDATES WEDNESDAY - 10/19/2016:
NUGT trade idea from last week was awesome. Hit $15 from my $11.50 mentions, that's 30%.
Working trades:
NEON +0% - same as yesterday
ONCS +2% - this one looks close
FRGI +1% - think it has another big green day in it. But, never got the buy I wanted so taking off of my list.
UPDATES TUESDAY - 10/18/2016:
First was SCTY. Coiling up and think it could have a nice move to $25 soon... am weary about negative press regarding TSLA affecting it though. Stop at $19.
Working trades:
NEON +3% - still waiting for break out confirmation
QSII -1% - taking this off of my watch list, may have more in it, but wasn't able to get the price I wanted
ONCS -1.5% - no follow through yet.. keep stops in place around 1.70 or a little below
FRGI +.5% - think a nice green day is in store soon as long as it hold over $27
UPDATES MONDAY - 10/17/2016:
Working trades:
NEON -8% - wasn't able to break and hold over 1.25, until it does I will not pay attention to it
QSII +8% - huge gap over night! Unfortunately it didn't give us any good buying opportunities... wouldn't buy it up here, although I do believe $13.30s could be in store still
ONCS -1.5% - not the day I was hoping. But could still be a good play. Make sure you keep your stops in place!
FRGI +1% - consolidating
PLAN FOR THIS WEEK
As predicted, last week we had a big ol' move in the indexes. Check out the S&P 500 breaking down out of that long-term triangle. There is still support a little bit lower at $2120, but if we are able to break below that I think we will see very accelerated selling, which will affect nearly every stock by pulling them down with it.
FH from a month ago is paying off now! Idea started at $2.67, now at $3.55. Big gainer. Here is what is on the watch list for this week.
Stock price when posted: $1.23
I only like this trade if NEON can break and hold over $1.25
Trade plan:
+ Buy close to $1.25-1.30 after a break and hold over $1.25, stop loss at $1.20
- Hopeful target of $1.70+, I would sell some at $1.50 and hold some for higher
Stock price when posted: $11.48
This looks like it has good potential. Breaking out of downtrend last Friday.
Trade plan:
+ Buy around $11.20-11.50, stop loss at $11
- Sell some at $12 and keep rest for target price of $13-13.50+
Stock price when posted: $1.81
With how well my other Bio plays went (SCYX, CRIS), I think this could go. Small float and bigger than normal volume Friday.
Trade plan:
+ Buy around $1.80, stop at 1.70ish
- Sell some at $2, hold some for $2.30, and sell rest up to $2.50+
Stock price when posted: $26.88
Trade plan:
+ Buy between $26-26.50, stop at $25
- First target is $29, then $32
Finished with TRXC?
ReplyDeleteWell, it did get up to $2.33, very close to the target of 2.40... and the plan was to sell on the way up to that target. So hopefully you did! It is back to nearly break-even from when I posted... I am personally done with it, but trade your plan! Good luck
DeleteWhat is the plan with DGLY? Should I hold onto that or sell?
ReplyDeleteAs I wrote to someone else asking about DGLY...
DeleteI 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.
It 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 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 trend line 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!
Hi wolf, i just had a question about where or how you learned about using triangles. I see you have quite a few different lines drawn around your chart and was hoping to learn a little more about what your looking for there
DeleteHi Vaughan, just google stock chart wedges and stock chart triangles and you will see everything I look for. Essentially, a stock/index/ETF trades in a range that gets smaller and smaller and smaller until it needs to break out one way or the other and when it does, there is typically a big move up or down on a lot of volume. Great for determining trend changes or continuations.
DeleteOkay thanks ill definitely half to read up on that! One other question, when you make these trade plans, are you watching through the days for it to do something special? like you've mentioned on some updates how they wouldn't move how you like even though it might reach a price around your wanted buy price. I was just wondering how that be like are you specifically waiting for it to start a jump before buying?
DeleteThat part comes with years of watching charts all day long. You can eventually get a feel for if a trade is going to go your way or not. I can't really give any specifics as to what I look for... maybe a combination of volume, price, intraday patterns, level 2 quotes.. but, like I said, experience. If you watch charts and level 2 action frequently it will eventually come to you.
DeleteWhat was your stop loss set at for ONCS? I still like the plan, but I was stopped out around 2:30est when it hit 1.67.
ReplyDeleteMan, that's the bad thing about hard stops... every once in a while you get stopped out and it turns right back around. I still like the idea.. however, at this point I would probably wait to see a confirmed break and hold higher, maybe over 1.80, until I would be comfortable buying again. Good luck
Deletewolf, I took your advice on $ONCS back on the 17th and finally paid off today! I didn't get greedy and sold it @ 1.92 (from 1.82) and made some decent profit today. Please continue posting on here and Twitter!
ReplyDeleteGreat job man!
Delete