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us stock market, trading system
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
AGU 03/14 DB hdl 37.15 -0.24 37.58 47.45 3.9M 6.5M 35.08
Buy Not Issued. Still working laterally in the tight range on very low, below average volume. It made that offer for CF and has not moved up after gapping higher over a week back. Like the pattern and the action and just waiting for a break higher on solid volume.
AMT 03/11 Asc Bse 31.00 +0.80 29.79 33.95 5.1M 6M 30.11
Current. Volume really jumped, moving well above average as AMT broke higher, clearing the late February peak. Solid move as AMT heads toward the 200 day SMA (33.84).
AMZN 03/16 Test BO 71.25 -0.10 68.79 74.95 10M 11M 69.11
Current. Flat all day and then surged after the FOMC reports but could not hold the move, quickly fading back to flat once more. Showing a doji on the session and that can indicate a pullback, but AMZN just broke higher again Tuesday on volume so not reading too much into that signal.
AMZN 02/23 FlyPlat 71.25 -0.10 65.45 74.95 10M 12M 69.11
Current.
APSG 03/04 Cup hdl 20.84 +0.25 20.35 23.45 166K 185K 19.77
Current. After testing the 18 day EMA the past week APSG is moving nicely off that level. The recent high is just over 21 so APSG needs to take that out cleanly to show it is ready to move after two tries failed to punch through over the past three weeks.
ASIA 02/21 Test BO 14.97 -0.03 12.40 15.75 1M 500K 13.97
Current. Held the gains in a somewhat volatile session on the heels of that huge break higher Tuesday. Like that it held the gains after moving to a new 52 week high as it cleared the June 2008 peak.
BEAT 02/24 Test BO 26.45 -0.21 26.88 31.95 470K 375K 26.97
Current. Was annoying as it sold back while the market bounced this week, but BEAT has shown a 1-2-3 pullback here, tapping the 18 day EMA on the low (25.67) and rebounding to close basically flat. Now it is in great position to run back up.
BIDU 03/03 Asc Bse 175.00 -0.40 159.12 176.75 2.3M 3M 172.77
Current. Held steady at 175 after a good reversal and surge Tuesday. It has stalled here over the past week but feel it is just biding its time before it makes the break higher.
BMC 03/14 Cup hdl 30.32 +0.57 30.12 34.95 3.1M 4.5M 28.57
Buy Not Issued. Broke over the 200 day SMA (29.81) but volume did not show the same kind of snap. If it can hold the 200 and start higher again it is a buy.
BR 02/17 Test BO 18.24 +0.24 16.88 20.65 1.9M 1.8M 17.48
Current. After a 2-day lateral move BR was up Wednesday to a new post November high. Still strong volume so just letting BR work higher. Would love to see it make a strong break higher once again.
BRCM 03/14 Test BO 19.92 +0.48 19.03 22.92 19M 16M 18.38
Current. Rallied on up into the 200 day SMA (20.12) and stalled some, but volume was strong and after a pause here to regroup we are looking for BRCM to make the break through this resistance.
BTU 03/17 Cup hdl 27.03 +0.56 27.00 32.85 9.9M 11M 25.11
Entered today. Solid above average volume once again as BTU made the breakout. It was holding the gains late in the day so we moved in.
BWLD 03/07 Test BO 36.47 +1.19 31.96 37.95 552K 650K 34.78
Current. Continuing higher on rising, average volume as BWLD continues its move up the 10 day EMA as it too puts in a new post-November high. Resistance at 40 so we are going to let it run as far as it will go toward there, moving up our stop as it makes its moves. Has likely another good day on this move that started anew Tuesday.
CHU 03/12 Cup hdl 10.17 -0.07 10.45 12.55 2.7M 2.5M 9.88
Current. After gapping lower Tuesday CHU went nowhere, trying to regain its feet and rebound. Want this to occur pretty quickly; don't want it hanging around too long here and risking breaking to the downside.
CLB 02/21 Flat 73.22 +0.90 71.91 82.91 439K 625K 73.24
Current. Volume moved up to average as CLB tested the 50 day EMA on the low and rebounding for a decent gain. Still in its three week lateral range but looking better and better for a new break higher.
CPRT 03/10 Cup hdl 29.37 +0.87 28.21 33.75 1.1M 1.3M 28.21
Trailing Stop. Maybe got too anxious on this one but it bounced Wednesday toward the recent high and with volume coming in lower we went ahead and used the bounce to exit with a modest gain. Will see how it sets up from here and whether we want to get back in.
DRIV 03/16 Test BO 29.22 -0.18 27.68 30.95 645K 750K 26.88
Buy Not Hit. Never has made the test lower, instead moving laterally in a narrow range on lower, average volume. Would prefer a pullback first, but if DRIV continues higher it will be hard to lay off adding some positions.
DRIV 03/09 Asc Tri 29.22 -0.18 26.55 30.95 645K 800K 28.31
Current.
EEM 03/12 Dbl btm 24.39 +0.50 23.32 26.95 81M 85M 21.88
Buy Not Issued. Waited too long on this one today, watching to see if it held its gains but it kept moving up and in the last hour was up significantly. Will see if we get a test of 24 and a bit better entry point.
ESI 03/14 Test BO 107.49 +1.43 109.87 128.95 1.1M 2.3M 106.21
Buy Not Hit. Still developing a good pattern, a short double bottom at the 90 day SMA. Like how it is setting up because when this goes, it will likely go big.
FCX 03/05 Asc Bse 37.87 +0.94 33.58 38.95 34M 28M 35.21
Current. After a nice low volume test this week FCX reached lower and then reversed for a nice gain on big volume.
FCX 12/10 Trnd Rv 37.87 +0.94 24.41 29.85 34M 26M 34.91
Current.
FXI 03/10 Trnd Rv 27.70 +0.21 26.02 30.95 44M 50M 26.39
Current. Solid volume as FXI continues with a new closing high on this move.
GLD 03/04 Test BO 93.09 +3.05 91.88 97.45 59M 25M 89.91
Current. Was in the selling doghouse, gapping lower, but then the FOMC with its money printing machine made its announcement and gold reversed dramatically as the inflation hedgers moved in.
GOOG 02/14 Test BO 333.10 -2.24 363.35 394.45 5M 7M 349.77
Buy Not Hit.
GOOG 02/02 Test BO 333.10 -2.24 352.22 394.45 5M 7.6M 371.44
Current. Took a day off after a good renewal of the bounce Tuesday. A bounce up to 350 is where the next resistance lies.
GS 03/16 Test BO 105.25 +6.26 91.65 109.85 34M 32M 88.32
Buy Not Issued. Bounced further given the FOMC decision, making it up to the upper channel line in its 4 month rising channel. Even if it breaks through here it is not to be chased. Let it come back to a better risk/reward position. Those with rather steel cajones can try to short this one.
HANS 03/07 Rev HS 35.99 -0.79 36.24 41.95 2.2M 2.2M 33.84
Buy Not Issued. Still unable to get moving as its post rush energy crash keeps it form making the breakaway move. The inability to provide a breakout is a bit concerning, but if it happens on some volume it is still a buy.
HES 01/27 Rev HS 60.23 -1.74 60.45 69.00 7.2M 7M 57.77
Current. Gave back some of the Tuesday move on stronger volume, but it was stronger with a bounce up off an intraday 10 day EMA test so we are leaving it alone.
ICE 03/11 Dbl btm 77.76 +5.56 64.79 72.85 4M 3M 74.77
Target Hit. Exploded higher on strong volume, moving through the September/Novembe/January down trendline. Took some of the 60% option gain on our June options (took some of the April gain yesterday, and let it run today given the strength of the stock.)
ILMN 03/17 Rev HS 36.35 +0.28 36.51 42.45 1.3M 2.5M 33.95
Buy Not Issued. No volume so its toying with the buy point was a waste of the day. Still in good position but needs to show more of course.
ISIL 03/05 Asc Bse 12.07 +0.38 10.48 12.45 3.7M 5M 11.37
Current. Gapped higher Wednesday though volume fell to below average for the first time in a week. On top of the uptrend channel line (11.80). Needs to get some volume to continue its break over this trading range.
LIFE 02/11 Test BO 30.33 -0.26 30.35 34.95 4M 4.2M 28.94
Current. Volume moved up above average but could not push LIFE higher. It is struggling at the mid-February peak at 31.25ish. Technically solid but needs to show us a break higher over that level. May work laterally, however, to form a handle consolidation.
MA 02/24 FlyPlat 159.75 -2.63 162.66 194.65 2.8M 4M 159.64
Current. Gapped lower and held its position, unable to build upon the Tuesday break higher. This is likely just a pause before it surges on toward 175.
MBT 03/11 Cup 31.12 +1.07 27.04 31.95 2.7M 3M 29.45
Current. Nice volume as MBT broke to a new high on this run. Nice.
MCHP 03/17 Asc Bse 21.06 +0.55 21.06 24.97 6.4M 5M 19.86
Entered today. Good volume as MCHP broke over the December and February peaks. Very solid.
MON 03/16 Trnd Rv 84.03 +0.96 83.04 94.65 6.5M 10M 78.81
Buy Not Issued. MON edged higher again but volume was well below average again. MON is doing that old edging higher on lower trade and you cannot move in on that type of action as it can come right back on you.
MOS 03/17 Test 50 42.54 +0.28 43.71 50.94 6.6M 12M 40.65
Buy Not Issued. Low volume as MOS holds just over the 50 day EMA in a tight lateral move, setting up a good looking pattern to break higher from.
MRVL 02/02 DB hdl 9.46 +0.58 7.82 9.95 27M 16M 8.81
Current. Strong volume, excellent break higher as MRVL moved through the top of its 4 month channel. Looks like a run at the 200 day SMA (10.23) is underway.
MS 01/31 Cup hdl 24.19 +0.38 22.48 26.75 66M 50M 23.32
Current. Started lower but got the reversal after the FOMC statement. Key resistance at the 200 day SMA (25.80) where it hit Monday and rolled over. Holding where it has to and now we see if it can make a break through that level.
MYGN 03/07 Test 50 81.86 -0.58 83.33 94.94 608K 1.2M 80.38
Buy Not Issued. Making a higher low here at the 10 day EMA on low volume. Moved the buy point to account for this and looking for a strong break higher to give us the buy.
NCMI 03/09 Trnd Rv 13.52 +0.10 13.51 17.45 438K 500K 12.35
Working up back to last week's high on lower trade though still above average. Needs to break on through this time.
NETL 03/12 Cup hdl 27.41 +0.34 27.23 32.35 387K 1.2M 25.32
Buy Not Issued. Broke over the 200 day SMA (26.78) but the lowest volume in two months kept us from moving into any positions.
NFLX 03/03 Test 50 41.62 +0.83 37.50 42.95 2.3M 2.2M 38.77
Current. Volume surged to the best level in three weeks as NFLX moved to a new all-time high. Hard to complain.
NTES 03/07 Asc Bse 23.43 +0.09 21.41 24.95 1M 1.5M 21.77
Target Hit. Volatile and came back late but no volume. Decided to bank some of the 46% option gain and 9.5% stock gain, letting the remaining half there to work for us.
NVLS 03/12 Dbl btm 14.69 +0.72 13.93 16.00 4.5M 3.8M 13.64
Current. Big volume as NVLS made the breakout from its handle that formed this week. Excellent action on the breakout.
ORLY 03/09 Test BO 35.00 0.00 33.82 38.45 2.5M 4M 33.88
Current. Could not push higher after the decent Tuesday rebound. Holding its gains is nice, but want to see it get a move on soon.
PCU 03/10 Dbl btm 16.69 +0.60 16.82 19.95 6.2M 6.5M 15.64
Buy Not Issued. Solid jump in volume up to average as PCU reached lower and rebounded. Nice little handle has formed to the double bottom and ready to move in as PCU continues the rebound move.
QCOM 03/05 Flat 37.95 +0.64 35.38 41.45 26M 30M 36.48
Target Hit. Jumped up for the second day and on some really nice volume. Got an extra boost after the Fed announcement and took part of the option gain on that move (39%). Still looks very solid.
RIO 03/04 Dbl btm 13.85 +0.06 14.29 16.95 58M 40M 13.12
Buy Not Hit. Big volume spike as RIO reached down to the 90 day SMA on the low (12.94) and then reversed to close flat. This looks like a 'get ready' spike (get ready for a move) as the commodities are coming to life.
SGR 03/14 Asc Bse 28.72 0.00 28.15 34.39 2M 4M 26.18
Current. Took a pause on the session after a good Tuesday move. May work a bit more sideways before breaking higher again, and if it does that we will move in with some more positions.
SIGM 03/03 Cup hdl 13.61 -0.99 14.69 17.88 1.2M 900K 13.66
Current. Tough session, falling to the 200 day SMA (13.26) on the low but then managing to recoup some of the gains. Held the 200 day so we left it for another session to see if it can snap back.
SNDA 02/21 Cup hdl 35.69 -0.85 32.26 36.95 935K 1.2M 34.48
Current. Sold back Wednesday but bounced off the lows that held well above the 10 day EMA and cut its losses. Still in excellent shape and consolidating laterally as it sets up for a new move higher.
SOHU 03/12 Dbl btm 44.53 -3.84 49.82 57.95 4.2M 1.6M 46.55
Current. Struggling here with some more huge volume Wednesday as SOHU fell back to the 50 day SMA on the close after a big volume bounce off that level Tuesday. This is the bottom of its base and we still really like the pattern outside of this extreme volatility of late.
SOHU 02/10 Cup 44.53 -3.84 46.88 57.95 4.2M 1.8M 47.77
Current.
STAR 02/28 Test BO 17.10 -0.19 15.71 19.25 1.6M 1.1M 16.48
Current. Stalling out the past few sessions after an excellent run, but it is just taking a pause in place, holding its gains. The volume spike Wednesday was interesting and without any pullback that tells us to look for a renewed upside move.
TTEC 03/03 Cup hdl 10.14 +0.04 9.08 11.77 621K 465K 8.44
Buy Not Issued. Gave us that low volume drift higher and then started to get some volume the past two sessions. Could not make any headway Wednesday and we will likely get a bit of a pullback before it makes a new upside run and that will give us an entry.
Downside Plays
Stock Date Play Close +/- Pivot Tgt Vol TgtV Stop
AOC 03/16 Put 39.92 +1.18 36.98 34.91 4.6M 4.4M 38.31
Buy Not Hit. Dropping.
CPNO 02/28 Put 13.81 +0.24 13.25 11.26 195K 415K 11.88
Current. Showing a doji at the 50 day EMA on low, low volume. This is where it is going to roll down if it is going to roll back down.
DTV 03/11 Put 22.16 +0.43 20.44 18.35 8.7M 14M 21.32
Buy Not Issued. Low volume on the move higher and will keep watching it but dropping it for now.
GME 03/11 Put 24.83 -0.12 24.94 22.05 4.7M 4.8M 25.77
Buy Not Issued. Higher volume as it shows a doji on the session, tapping the 50 day EMA on the high. A total lack of participation in the move and if things soften we anticipate GME will do the same.
ICUI 03/17 Put 30.84 +0.98 30.44 26.72 115K 185K 31.22
Buy Not Hit. Rallied but on no volume so still looking for a downside play when this rally ebbs. Moved the buy point to account for the Wednesday rise.
OCR 03/14 Put 24.10 -0.14 24.29 22.11 2M 2M 25.04
Current. Another play showing a total lack of participation and primed to fall as this market bounce tests.
SDS 03/14 Test 50 81.34 -3.80 83.42 92.85 59M 50M 79.12
Buy Not Issued. Sold off as the SP500 rallied again, but now SP500 is in the resistance range and this is where it consolidated in January and February. This shows the market is getting to a point it will take a breather. Moved the buy point to take advantage of a fall in the market. May just be a market test so a bit nimble if volume doesn't spike.
End part 2 of 3
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us stock market
trading system
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