12
Dec 14

Dr. Brett Steenbarger – Improving Trading Performance

An absolute MUST WATCH for any trader, old and new.

 

 


04
Dec 14

Chart Analysis – $CMG

$CMG (Chipotle Mexican Grill) is looking fairly bearish to me. Looking at the weekly, it is really struggling up here after trying on many different occasions to continue the uptrend, but each time it just makes a lower high.

CMG - Weekly - 3 December 2014

CMG – Weekly – 3 December 2014

On the chart above I only see demand at 508, making this a great risk-to-reward trade. On the daily though. there is some demand at 595 that the bears need to push through.

I am looking at the 30 minute chart for zones to sell the rallies and I like the supply on top of supply at 669, then at 673.

CMG - 30 Minute - 3 December 2014

CMG – 30 Minute – 3 December 2014

All in all a bearish looking chart, showing relative weakness to the market with some nice supply above. A good looking setup, with extra guacamole on the side.


02
Dec 14

Trade Idea – $YM_F Short

I don’t often trade the Dow, but there is a nice little rally-base-drop on the 60 minute chart that I like a lot. I’m basically looking to get short at 17,856, with a stop above 17,877 and four targets, as posted on the chart.

YM - 60 Minute - 1 December 2014

YM – 60 Minute – 1 December 2014

On the daily chart we have nice demand at 17,308 where I will look to reverse. If only trading were that simple…


29
Nov 14

Will Marshall: Tiny satellites show us the Earth as it changes in near-real-time


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.