25
Nov 14

Trade Idea – Google

$GOOGL has been a laggard of late, and I don’t think the worst is over for the tech giant. It has been grinding up slowly, and I am looking to get short once it grinds it’s way to the $554.61 level.

GOOGL - 30 Minute - 25 November 2014

GOOGL – 30 Minute – 25 November 2014

My first target on the trade is $533, but I really like the 508 level as the final target, where I will look to reverse. My stop on the trade is above the zone at $555.87.


24
Nov 14

My Current Stock Scans Explained

I’ve got two scans that I use to look for potential trade setups everyday. With over 6,000 stocks to choose from, it’s important to get that down to a more manageable number, especially if you’re a one man show like me.

My first scan really just gets me the most liquid stocks that tend to move a bit. So my criteria is:

  • Last >= 20 (to get that huge 6,000 number down. Large institutions also don’t look at penny stocks, so neither will I)
  • Beta >= 1 (I want the stock to move a bit)
  • Volume average >= 2000000 (I want only the most liquid stocks)
  • Open interest calls-puts >= 10,000 (I usually trade options, so I want the tightest bid-ask spreads)
Scan 1

Scan 1

I use Tradestation for this (pictured above) but you could just as easily use a site like Finviz. This usually gets me down to a list of about 220 stocks. Once I have those, they form the input into my second scan, which is based off of my trading chart – the 60 minute chart.

My second scan, which runs hourly throughout the day, looks for stocks from the list above that have made an extended range candle on the 60 minute chart. In other words, they have just made a candle with a range that is 2.3 times larger than the average of the previous 23 candles. This tells me that there is some big player(s) involved, and helps me find where the action is at. Here is an example in $CAM where it made a big ERC out of the $58.27 level, so I will be looking to buy when it retests that zone.

CAM - 60 Minute - 24 November 2014

CAM – 60 Minute – 24 November 2014

 

To enhance your odds even more, take a look at the finviz groups page (I look at the three month performance), and cross check a stock you want to trade based on the above scans to see if it is in one of the top 2 or 3 sectors. Getting help from the market and sector on any trade is a huge odds enhancer.

I hope this helps. I know it can be a daunting task sifting through thousands of charts looking for a viable chart to trade.


23
Nov 14

Charts Of Interest – 23 November 2014

Aruba Networks ($ARUN)

This had a big gap down this week and looks bearish. I think we can get down to $14.60 before we see some real buyers come in. I am looking to sell any move that gets close to $20.

ARUN - 60 Minute - 23 November 2014

ARUN – 60 Minute – 23 November 2014

Citigroup ($C)

Citi has been rallying fairly nicely from $48, and I am looking to join. I like the two highlighted zones, namely $52.87 (slightly more aggressive) and $51.45.

C - 60 Minute - 23 November 2014

C – 60 Minute – 23 November 2014

Canadian Solar ($CSIQ)

The weekly chart is not all that great on this one, but the 60 minute zone is tight enough that I am willing to take a trade, considering that if it holds we are putting a large bottom here, in other words, if it holds, we have a lot of room to run.

CSIQ - 60 Minute - 23 November 2014

CSIQ – 60 Minute – 23 November 2014

Haliburton ($HAL)

It looks to me that last week we finally flushed the weak longs and this is ready to go. This is a good looking position trade to me.

HAL - Weekly - 23 November 2014

HAL – Weekly – 23 November 2014

Huntsman ($HUN)

Good looking zone here at 23.12, nothing fancy, just good zone, good RRR.

HUN - 60 Minute - 23 November 2014

HUN – 60 Minute – 23 November 2014

Juniper ($JNPR)

This has put in a base on the weekly chart and I really like the look of the 20.52 level for a long. Solid setup.

JNPR - 60 Minute - 23 November 2014

JNPR – 60 Minute – 23 November 2014

 

 

 


20
Nov 14

$ES_F Levels – 20 November 2014

Supply above with lovely demand at 2,006.25.

ES - 60 Minute - 20 November 2014

ES – 60 Minute – 20 November 2014


20
Nov 14

Charts Of Interest – 20 November 2014

Yahoo ($YHOO)

This has been on a tear and might be looking to pull back a bit. I’m looking at the 48.56 level to enter a long position.

YHOO - 60 Minute - 20 November 2014

YHOO – 60 Minute – 20 November 2014

 

Netflix ($NFLX)

Netflix got pounded after earnings and is still digesting. I like this one for a position trade, and I’ll be looking to trade it at the 354.17 level. It’s working off weekly demand and I see weekly supply at 475 which gives us a lot of room to go.

NFLX - 60 Minute - 20 November 2014

NFLX – 60 Minute – 20 November 2014

 

GoPro ($GPRO)

This one has been a high flyer but has failed a number of times at 85.50 so I am looking to get short. It made a lovely overnight level at 78.96 which is where I am looking to get short, targeting 60.

GPRO - 60 Minute - 20 November 2014

GPRO – 60 Minute – 20 November 2014


19
Nov 14

Day Trading Levels – 19 November 2014

The S&P futures made a nice rally-base-drop overnight that I will be looking to sell. The zone is from 2,052.25 – 2,054. Since making the zone it has just been chopping around in the pivot range. I have three targets on that zone, the first three points, the second at the demand level at 2,037.50 & the last at the daily chart demand at 2,030.50 (see image below). It is not uncommon for the futures to sell off first thing these days, only to catch a bid and rally for the rest of the day.

ES - 15 Minute - 19 November 2014

ES – 15 Minute – 19 November 2014

 

Looking at the daily chart, there is a lovely looking demand level at 2,026.75 – 2,030.50 that I will be looking to buy. It is fresh, and also a bear trap as I think there are some stops under 2,031.25.

ES.D - 15 Minute - 19 November 2014

ES.D – 15 Minute – 19 November 2014

Keep warm and have a good day’s trading.


18
Nov 14

Charts Of Interest – 18 November 2014

Amazon.com ($AMZN)

This is an interesting one. It go whacked after earnings and has rallied ever since. Last Friday it had very strong move from the 314-316 level, and I am looking to buy should we get there again. I think there will be weak longs with stops below 318.03, which makes it an interesting trap trade too.

AMZN - 60 Minute - 18 November 2014

AMZN – 60 Minute – 18 November 2014

 

Alibaba Group ($BABA)

BABA has been on a tear lately and is pulling back. There are three zones where I am looking to trade – in the 108, 104 & 98 areas.

BABA - 60 Minute - 18 November 2014

BABA – 60 Minute – 18 November 2014

 

Salesforce.com ($CRM)

Another strong tech stock that looks good on the higher timeframes. I like the look of the gap fill area at 59.13.

CRM - 60 Minute - 18 November 2014

CRM – 60 Minute – 18 November 2014

 

Google ($GOOGL)

I love Google as a company and I use many of their products, but the stock has lost it’s mojo of late. Having said that, I am looking at a sneaky little area at 533 for a swing long. I believe $GOOGL under 600 is a bargain, so I’ll be swinging and adding to a long term position trade there.

GOOGL - 60 Minute - 18 November 2014

GOOGL – 60 Minute – 18 November 2014

Lululemon Athletica ($LULU)

The LULU weekly looks like it has put in a bottom so I am looking to get long on a pullback. I like the look of the 41.50 area as a nice clean entry point.

LULU - 240 Minute - 18 November 2014

LULU – 240 Minute – 18 November 2014


17
Nov 14

Installing Plex Media Server on Centos 7

I’ve been running Plex Media Server on an old desktop machine that runs in my closet for a few years now. It was running on Centos 5 and has performed beautifully, with the family using it constantly. Unfortunately, as it goes, hardware fails, and I lost two hard drives and the optical drive at the same time. With the new hardware in place, these are the steps I took to get the family fun center up and running.

  1. Download and install Centos 7. This is the latest version of the OS. I have done a minimal install. The install goes great, but Red Hat have removed support for 100mbps NIC’s in this latest version, so be sure your hardware is running a gigabit network card, or else Centos will not pick it up. I bought a Trendnet card from Amazon for $10, and Centos picked it up perfectly during the install.
  2. Once installed, log in and install a few packages that I find useful, namely
    1. net-tools
    2. nano
    3. wget
  3. Perform a system update – yum update
  4. Secure your server. Linode has got some great articles & tutorials, and their one on securing your server is a must. Follow their instructions for a secure Linux server. Just remember to check your permissions and ensure 0700 for ~/.ssh and 0644 for the authorized_key file in that folder.
  5. Disable SELinux by editing the file /etc/sysconfig/selinux I have found that SELinux messes with the media server, and in all honesty is not necessary for a media server.
  6. My media is on a NAS that I will be accessing via NFS, so I will install the NFS client – yum install nfs-utils nfs-utils-lib
  7. Connect to my NAS. I created a folder called /mnt/NAS and have added the following line to the /etc/fstab file: “192.168.1.110:/mnt/HD/HD_a2/media /mnt/NAS nfs defaults 0 0″. To test it run mount -a
  8. Download Plex using wget
  9. Install Plex by running yum localinstall
  10. Open the appropriate firewall ports for PMS. See the following article for the list of ports. The command to open a port in Centos 7 looks like this: “firewall-cmd –add-port=32400/tcp –permanent”. You can use nmap to check the open ports (sudo nmap -sT -O localhost) or “firewall-cmd –query-port 32400/tcp”
  11. Make sure Plex starts on system boot. You can check this with “systemctl is-enabled plexmediaserver.service”. If it returns “disabled” then turn it on with “sudo systemctl enable plexmediaserver.service”
  12. Now go to your Plex media server via a web browser on another machine and start adding libraries – http://192.168.1.231:32400/web/index.html

Troubleshooting

If you are having trouble, there are a few resources that may help.

  • DigitalOcean also have great articles on setting up a Centos 7 server.
    • https://www.digitalocean.com/community/tutorials/initial-server-setup-with-centos-7
    • https://www.digitalocean.com/community/tutorials/additional-recommended-steps-for-new-centos-7-servers
  • If you’re having permission issues – check out this page: https://support.plex.tv/hc/en-us/articles/200288596-Linux-Permissions-Guide

 


13
Oct 14

Richard St. John: Success is a continuous journey


08
Oct 14

Why I believe the correction is over

What in interesting two days in the market. Yesterday a huge selloff and then today the huge fed-induced rally. I thought we still had a fair amount of room to go to the downside up until a couple of hours ago, but now I believe it is time to be long hunting again. My reason: all four of the indexes put in pink extended range candles today, many of them engulfing too.

$COMPX - Daily - 8 October 2014

$COMPX – Daily – 8 October 2014

$DJI - Daily - 8 October 2014

$DJI – Daily – 8 October 2014

$INX - Daily - 8 October 2014

$INX – Daily – 8 October 2014

$RUT - Daily - 8 October 2014

$RUT – Daily – 8 October 2014

I’ve noticed that all too often trends start and end with a big blow-off pink extended range candle. The lows of today are important – above and I am long hunting, below and it is all bets off again.