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us stock market, trend trading stock
Begin part 2 of 3
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NOTE: PART 2 PRECEDES PART 1 THIS EVENING.
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CONTINUING PLAY LIST
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LEGEND FOR CONTINUING PLAY TABLE
DATE: date play first appeared on report.
PLAY: Denotes the type of pattern or play.
Upside play types: Asc Tri =Ascending triangle; BO=Breakout; Cup=Cup base; Cup hdl=Cup w/handle; DB hdl=Double bottom w/handle; Dbl btm=Double bottom; Flat=Flat base; FlyPlat=Flying Plateau; Pennant=Pennant; Rv H&S=Reverse head & shoulders; Saucer=Saucer base; Test 18=Testing 18 day MVA; Test 50=Testing 50 day MVA; Test BO=Testing the breakout (could be 10 day MVA test, etc.)
Downside play types: CCall=Covered Call; Dsc Tri=Descending triangle; Dbl Top=Double top; H&S=Head & shoulders; Put (generic downside);
PIVOT=Buy point
Tgt=Target stock price for the play. Applies to stock and options.
Vol=Volume for the most recent session.
TgtV=Target volume to enter the play.
Stop=Stop advisory point. This is advisory and we may or may not exit a play if it hits this level depending upon market conditions.
PLAY STATUS: Buy not hit (stock has not hit buy point); Buy not issued (stock has hit buy point but did not enter due to weak volume, poor intraday action, poor market action); Current (ongoing play already entered); Entered today (entered the play that session); Exited (closed the position); Target hit (play hit initial target; will note if took all or partial gain or let run further); Trailing stop (exited using a trailing stop loss).
Upside Plays
Stock Date Play Close +/- Pivot Tgt Vol TgtV Stop
AAPL 11/01 DB hdl 99.10 -4.20 108.74 124.75 47M 65M 107.44
Current. Gapped lower with the market, holding near the top of the mid-October range. Volume was up but still below average as it sold. Given the gap was half the days loss and the below average volume we did not close it.
AAPL 10/14 Trnd Rv 99.10 -4.20 95.12 119.95 47M 60M 107.44
Current.
AFAM 10/23 Cup hdl 51.16 +2.47 40.65 48.85 506K 475K 48.11
Bucked the market, rising to a new closing high on a solid shot of above average volume.
AGU 11/03 DB hdl 36.38 -2.85 40.41 49.95 9.2M 10M 37.58
Exited. It was not a slaughter but it failed to hold the 10 day EMA and its volume was still strongly above average so closed it.
AKS 10/20 Dbl btm 10.82 -1.67 13.04 19.68 8.1M 10M 12.13
Buy Not Issued. Sold off sharply and even though volume was lower we are going to drop it, watch to see if it sets back up.
ALK 10/18 Rev HS 25.29 -0.13 25.49 30.45 1.1M 1.6M 24.48
Current. Solid session, holding steady above the 10 day EMA and the breakout point at 24.
AMED 11/05 Dbl btm 53.61 -2.60 55.57 64.95 811K 1.5M 52.65
Buy Not Hit. Gapped lower to the 90 day SMA on the close. Volume remained below average. Leaving it on the report to see if it can reverse on strong volume. Adjusted the buy point.
APC 11/05 DB hdl 33.85 -1.28 35.66 41.72 9.5M 13M 33.32
Buy Not Hit. Holding up just fine on lower volume, holding the 10 day EMA on the close. That leaves APC well-positioned to make the move higher. One of those stocks we talked about that minded its own business.
CELG 10/23 Dbl btm 61.11 -2.07 59.34 66.95 5M 7M 61.88
Trailing Stop. May have got happy feet on this one as CELG undercut the 18 day EMA (60.83) during the day. It recovered to close just over that level. Volume was up but still below average. Will see if it can hold and make a new break over the 200 day SMA (63.16).
CHK 11/01 DB hdl 22.53 -2.30 24.87 29.95 37M 40M 22.92
Current. Not a bad day for CHK in the bigger picture as it sold, but it did so on lower volume and held the 18 day EMA on the close. That is a good point for CHK to launch from as its pattern did not implode in this market.
CMC 10/29 Dbl btm 10.31 -1.22 11.87 16.95 2.7M 3.5M 11.12
Current. Decided to hold CMC as volume was low and the losses, while hefty, did not destroy the pattern.
DAL 11/01 Rev HS 9.52 -0.96 11.44 14.65 14M 20M 10.64
Current. Sold back but held above the 18 day EMA (9.33) on very low, below average volume. Looking for DAL to hold this level and rebound given the diving fuel costs. A break over 10 on rising trade is a good add-to point.
DDM 10/30 DB hdl 32.94 -3.36 37.39 46.25 18M 15M 37.22
Exited.
DDM 10/25 Dbl btm 32.94 -3.36 31.41 35.45 18M 10M 37.22
Trailing Stop. Took the rest of the gain off the table.
DIG 10/23 Rolling 30.31 -4.11 36.27 48.95 22M 15M 33.73
Current. Struggled, falling below the 10 day EMA (33.22) on some high volume, but given that many of the energy stocks performed well on the session we are going to see if DIG can dig in its heels and deliver some upside.
DO 11/04 Cup hdl 81.10 -5.61 91.55 105.00 2.3M 3.5M 87.33
Buy Not Hit. Dropping for now as it sold back, but not going to forget it. If DO can bounce on some strong trade it is back in play but that 50 day EMA looms (90.82) and we wanted to see it through that level before we committed to it.
EWBC 10/29 Trnd Rv 15.84 -0.67 16.25 19.89 900K 2M 16.28
Current. Faded with the financials for a second day but again on very light trade and holding near support. Light trade moving it with the market. Looking for it to hold and bounce again given the low volume, and that would be a good point to add some positions or move in for the first time.
GOOG 10/29 Dbl btm 331.22 -11.02 370.57 399.75 8.2M 9M 354.88
Current. GOOG is rather schizophrenic right now, looking great then selling off. It is, however, still banging around in its trading range from 325 to 370, and we are looking for it to turn back up off this level given the high volume as it hit 325 Thursday and bounced some off the lows. Ready to add to positions as it does bounce.
GXDX 10/11 Dbl btm 31.87 -0.88 34.48 39.95 182K 350K 33.78
Current. Crappy two days for GXDX but it was up to 34 and change after hours on a good earnings report.
HAL 10/20 Dbl btm 18.25 -0.97 18.71 25.95 23M 26M 18.48
Current. Gapped lower but left this one in play as it held the week-plus lateral range albeit at the bottom of it, but after this kind of market selling to still be in your consolidation range is significant.
HBAN 10/28 Rev HS 9.75 -0.29 10.32 13.94 6.4M 12M 9.21
Buy Not Issued. Sold down to the 10 day EMA, but this regional bank is still in its pattern and still setting up for a break higher as it remains in great shape.
JPM 09/29 Dbl btm 38.26 -0.96 44.55 51.88 56M 80M 45.91
Current. After breaking over the 200 day SMA Tuesday, JPM has turned back down yet again. It is at some support at 38 and perhaps this time it can make a higher low and retake the 200 day (41.31) in short order. That would show definite improvement in the pattern. Given the indices are diving toward their lows, despite its losses, JPM is showing relative strength. A few hundred billion federal dollars will do that.
MON 10/28 Dbl btm 85.06 -2.65 85.88 98.00 8.1M 12M 89.91
Current. Gapped lower but volume was still very light and it showed a doji just below the 10 and 18 day EMA (86.10, 85.89). In good shape and if it makes a higher low here we are looking to add to it, mon.
MOS 11/04 DB hdl 33.88 -4.48 42.11 58.88 12M 18M 39.16
Buy Not Issued. Gapped lower but closed below its recent range. Thus will drop it for now but are not giving up on it and if it sets up we will set it back up on the report.
MU 10/30 Trnd Rv 4.38 -0.42 4.57 7.94 16M 30M 4.25
Buy Not Issued. Thumped down but closed over the 50 day SMA (4.28) on very light volume. This may give us a great entry point on MU as it tests the break higher.
NDAQ 10/18 Dbl btm 28.56 -3.85 32.44 39.75 3.3M 4.2M 31.21
Exited. Barking all day as it fell below the 90 day SMA and showed no life despite low volume. Closed it, but if it makes a higher low it will be interesting again, but it will have to prove something.
PETS 09/18 Test 18 17.94 +0.91 16.08 19.68 1.3M 450K 16.71
Current. There is money in those dogs and cats prescriptions as people are going to take care of Fido and Fluffy and Sniffy the ferret regardless of the economy.
PLCE 11/04 DB hdl 27.23 -3.51 34.21 40.95 1.9M 1.8M 31.82
Buy Not Hit. This was not the place to be whether children (Children's Place) or investors. Dove lower on the same store sales or lack thereof.
POT 11/03 Trnd Rv 78.99 -7.89 89.02 114.95 22M 25M 85.78
Exited. Gapped lower on rising, above average volume so we closed the pot. Will see if it holds at 75 and makes a higher low. If it does we can look at it anew, but we did not want to ride it lower. Again, if it holds and shows some upside volume, that is a different story.
QCOR 10/16 Cup hdl 8.72 -0.22 7.59 9.21 1.8M 1.2M 8.31
Current. Modest loss after a solid prior week. No reason to get rid of it because it took a day off after this run.
QQQQ 10/15 Dbl btm 30.56 -1.43 32.11 35.55 220M 325M 31.65
Current. Two bad days and looking for another to start Friday after the jobs report, but looking for QQQQ to hold near 30 to 29.25 even on that bad report and to generate a bounce from there.
QQQQ 10/11 Trnd Rv 30.56 -1.43 32.88 39.31 220M 300M 34.31
Current.
QQQQ 10/08 Trnd Rv 30.56 -1.43 33.58 39.31 220M 300M 34.31
Current.
RIO 11/03 Trnd Rv 11.98 -0.80 13.58 17.15 43M 54M 12.63
Buy Not Issued. Dropping as RIO sold off further below the 10 day EMA though on low volume. Needs to reverse things and show a new trend break on strong volume this time.
SF 11/05 Dbl btm 44.51 -0.32 46.11 54.95 364K 575K 43.21
Buy Not Hit. Holding up very well, tapping at the 50 day SMA (42.71) on the low and rebounding to close. Forming a handle to its double bottom and anticipating a new breakout as this stock and other financials remain strong.
SPN 11/04 DB hdl 19.07 -1.39 22.21 26.95 1.4M 2.5M 20.45
Buy Not Hit. Fell back form its recent range on below average volume. Going to keep it on the report to see if it checks up and recovers as this move was not fatal to its handle.
SSO 10/25 Dbl btm 28.10 -2.96 26.81 32.74 109M 60M 32.64
Trailing Stop.
STE 11/01 DB hdl 33.30 -1.13 34.92 41.95 897K 1.2M 33.55
Current. Sold off but held the 18 day EMA on the low (33.13) as volume was lower but still above average on the test. If it holds and can rebound on strong trade we can add some positions.
STLD 10/29 Trnd Rv 9.38 -0.98 12.05 15.95 7.8M 9M 11.11
Current. Gapped lower and sold to the close but volume was the lowest of the past three days. Left it in play given the low trade but need to see it turn back up as it is in the mid-October range.
STLD 10/20 Dbl btm 9.38 -0.98 10.76 15.65 7.8M 10M 11.11
Current.
SYNA 11/01 Rev HS 29.46 -0.97 31.72 37.95 1.2M 2.4M 29.54
Buy Not Issued. Sold back to test near the 50 day EMA (29.12) on the low. Below average volume still, so just being patient to let SYNA make the breakout move. If it shows it, we have the buy.
TFSL 10/30 Test BO 13.28 -0.31 13.51 16.31 586K 1M 12.56
Current. Sold back modestly on very low, below average volume. It can test the 10 day EMA (13.08) and still give us the move and indeed we can look at more positions as it holds and rebounds.
THS 10/01 Asc Bse 27.21 -1.07 31.25 35.88 327K 475K 29.66
Exited. Gapped lower and could not recover the 90 day SMA, unable to rebound from an intraday test to this level as it has done the past few weeks so we closed it despite the low volume.
TJX 10/30 DB hdl 24.01 -1.98 27.48 31.87 11M 12M 25.78
Buy Not Hit. Dropping as TJX same store sales were not that impressive.
WBSN 11/01 DB hdl 18.02 -1.54 19.94 23.95 827K 1M 18.65
Buy Not Issued. Dropping. At this point it doesn't make any sense, web or otherwise, to stay with it.
WFC 09/23 Test BO 28.77 -2.91 36.94 41.85 115M 70M 32.11
Current. The $10B shelf offering of stock gapped WFC below the 200 day SMA (29.78) leaving our hands tied on the session. Stocks have recovered from these initial reactions to new offerings. Will see if Wells can do it as well.
WFC 09/06 Rev HS 28.77 -2.91 33.44 37.95 115M 55M 32.11
Current.
WFT 11/05 Cup hdl 14.21 -1.53 17.32 21.95 12M 20M 16.31
Buy Not Hit. Dropping as gapped lower and out of the recent lateral range. Will keep watching Weatherford, however, as energy remains one of the stronger sectors.
XTO 10/29 DB hdl 35.17 -1.21 34.70 40.95 9.4M 20M 35.45
Current. Sold but also held at the 10 and 18 day EMA on the close on very light volume. Holding its pattern nicely.
ZION 11/03 DB hdl 37.40 -1.97 41.32 49.95 3.5M 6.5M 38.43
Buy Not Issued. Getting a bit dicey here but can wait it out as ZION tests the 50 day EMA (36.15) and rebounds on low volume. Will see if it can deliver the breakout move.
Downside Plays
Stock Date Play Close +/- Pivot Tgt Vol TgtV Stop
AMX 11/03 Put 30.56 -0.95 30.91 25.05 9.9M 10M 32.11
Buy Not Issued. Gapped lower but didn't go anywhere do did not move in.
DIA 11/05 Put 87.13 -4.72 91.44 85.50 44M 35M 87.65
Buy Not Issued. Gapped lower and never came back for a rebound play. Going to let it go but if you are in it we put in the stop point as there can be a further gap down Friday after the jobs report, but then a likely reversal after testing the prior closing low after three sharp down days.
EEM 11/05 Put 22.79 -1.21 23.74 20.11 158M 120M 24.48
Entered today. Continued the selling on stronger volume. Looking for a sharp dip tomorrow on the open and then likely taking some gain if the indices try to firm and bounce.
SOX 11/01 Put 219.44 -16.81 235.87 211.00 0 0 241.49
Buy Not Issued. Gapped lower and sold.
SPY 11/05 Put 90.86 -5.33 95.44 89.50 474M 380M 91.31
Buy Not Issued. Same as DIA with the gap lower and no rebound.
YUM 11/05 Put 27.06 -1.27 27.96 25.44 4.8M 5M 27.65
Buy Not Issued. Looked at this one several times on the session after the gap lower and didn't move in when it rebounded as volume was still quite low. Turned out that would have been fine as YUM did not hang on and volume did move up. Will see what kind of test it gives after this leg fizzles and it bounces.
End part 2 of 3
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us stock market
trend trading stock
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