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us stock market, trading system
Begin part 2 of 3
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NOTE: Part 2 precedes part 3 this evening.
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CONTINUING PLAY TABLE:
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LEGEND
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
APA 01/09 Test 50 106.04 -1.64 107.77 121.75 3.3M 3.5M 104.95
Buy Not Hit. Backed off from that Wednesday bounce off the 50 day EMA, fading on lower, below average volume. Needs to hold here and resume the move to show it can take out that early November high on some volume, showing it has the backing to take it higher in this market.
APC 12/18 PreAnn 63.04 +0.12 62.44 71.95 4.8M 4.5M 65.38
Current. Modest gain as APC tapped at the 50 day EMA (61) again and rebounded. Still trying to get some legs off of this important support point, and it is still in good position. The key move for it now is a solid move over 64 that holds above that level on the close.
BG 12/26 Test 18 127.10 -1.49 121.82 139.95 810K 1.4M 125.32
Current. Took a breather on very low volume, tapping at the 10 day EMA on the low and rebounding for a modest loss. Solid position but needs to hold this move and it did not extend its gains when the market was running to the upside.
BG 11/29 Cup 127.10 -1.49 116.55 133.85 810K 1.6M 125.32
BIDU 12/29 Asc Bse 339.54 -4.56 395.24 454.00 6.3M 10M 383.44
Current. Did not participate in the upside, testing the 90 day SMA (333) still, showing another doji over that level. It is set up to move, but it is not using the market rally to do so. Watching closely because we don't want it closing below that 90 day SMA.
BUCY 01/05 PreAnn 91.07 +0.77 92.11 112.45 1.6M 900K 88.74
Buy Not Issued. Nice tight doji at the 50 day EMA as volume surged. May just be ready to make a bounce off the 50 day EMA.
CAM 12/27 PreSplt 50.15 +0.14 49.90 56.75 3.5M 2.5M 50.39
Current. Good recovery off an intraday test of the 50 day EMA. Sold back but has held key support and in excellent position to continue higher but needs to show some volume to get it over that last peak at 52 as it makes the move.
CEO 01/09 Dbl btm 183.36 +2.73 180.92 209.95 626K 600K 175.11
Buy Not Issued. Gapped lower then posted a gain. Volume was lower though still above average, not bad after the strong Wednesday trade. The move was good enough to enter, and if it does hold this move and continue upside we will start some positions.
CF 01/03 Test BO 110.68 -1.84 115.66 129.95 2.9M 3M 109.78
Current. Still working laterally over the 18 day EMA, tapping at that level (108) on the lows and then rebounding to close. Very orderly test but it is another stock that did not take advantage of the overall market rally. A leader still setting up versus beaten up stocks rebounding; tells the story of the market as there is a definite bifurcation.
CF 12/19 Asc Bse 110.68 -1.84 100.66 119.95 2.9M 3M 113.32
Current.
CHA 01/09 Asc Bse 90.85 +5.65 85.95 98.95 1.1M 550K 81.11
Buy Not Issued. Gapped higher and never tested back so we let it go. Will look for a test that forms some sort of handle that we can use as an entry point.
CHL 01/03 Asc Bse 88.94 +0.10 88.55 102.95 4M 4.9M 85.09
Current. Gapped lower then rebounded to close flat. A bit disappointing given the action in other China stocks on Thursday.
CHTT 01/08 PreAnn 73.60 -0.84 75.68 86.95 346K 408K 73.65
Buy Not Hit. Still testing, holding near the 18 day EMA (73.78) as the market rebounds on short covering. When that is over money will move toward CHTT again as a defensive play.
CHU 12/27 DB hdl 22.97 +1.76 21.04 27.95 3.6M 2.6M 20.08
Buy Not Issued. Big gap higher on volume, not giving us any change to enter in on Thursday. Will see if it forms a handle somewhere in this general area and sets up a new buy point.
CMED 12/22 Rev HS 52.25 +2.08 44.28 54.95 858K 1M 49.55
Current. Excellent breakout rally continues. China, medical sector, winner.
CPHD 01/07 Cup hdl 29.50 +2.70 28.64 34.35 2.3M 1M 26.77
Entered today. Excellent breakout action as CPHD surges on strong volume.
CVX 12/22 Rev HS 91.90 -0.67 94.98 108.95 14M 10M 92.94
Current. Looked to be in trouble even into the afternoon but it then rebounded off a test of the 50 day SMA as the market recovered after the CFC news.
CYBS 12/22 Cup 16.69 +0.59 18.03 21.65 635K 1.1M 17.77
Exited. Gapped lower then recovered on low, below average volume. It tapped at the October peak and faded back so we used this decent bounce to close it.
EDU 01/05 Asc Bse 83.50 +1.88 83.32 99.95 397K 750K 86.11
Tapped the 50 day EMA on the low for the second session and then bolted higher. Making a higher low and building for the breakout move. Looking good Mr. Kotter.
ESLR 01/03 Test BO 15.59 -0.91 17.71 21.75 6M 5M 16.88
Exited. Gapped lower and could not recover to even test the 18 day EMA so we closed it.
FTI 01/07 Cup hdl 61.66 +0.40 63.55 75.95 1.8M 1.9M 60.38
Buy Not Issued. Tapped all the way down to the 18 day EMA (59.66) on the low and then recovered for a modest gain. Still a great set up for the breakout move.
FWLT 01/02 Asc Bse 147.56 +4.66 165.06 188.89 2.7M 1.8M 162.32
Current. Gapped lower but a nice rebound in the afternoon to post a solid gain. Volume remained well above average. It tapped the 50 day EMA (150) on the high and backed off. That is resistance along w/highs from October at that level. If it cannot move through that level and starts to roll back over we will close it.
GILD 01/07 Asc Bse 48.22 -0.28 48.38 55.95 9.6M 10M 46.44
Current. Started higher again but could not hold the move, posting a modest loss. It has been up one day, down the next on this move, but the upside moves have out-sized the downside and it is trending higher up the 10 day EMA.
GMCR 12/18 Cup hdl 41.14 +0.81 41.50 49.95 373K 300K 39.69
Current. Waiting for this to get a caffeine high and get off of the 18 day EMA (39.61) and over 42 to really start putting on the moves. It looks great with a higher volume bounce Thursday; just has to show us the break higher.
GOOG 12/03 Cup hdl 646.73 -6.47 687.88 742.00 6.3M 8M 713.32
Current. Big rebound Wednesday, gapped lower to show a doji at the 90 day SMA on Thursday. Still set to show a better bounce up toward the 50 day EMA (668), but it has to show it.
GOOG 11/17 Test 50 646.73 -6.47 659.65 724.95 6.3M 8.6M 713.32
Current.
HAL 01/03 Dbl btm 36.19 -0.55 39.39 45.85 15M 15M 37.65
Current. Tested further, undercutting the 200 day SMA (36) but then rebounding to hold that level on the close. As noted last night, this is the lick log where it has to hold and make the bounce work.
HK 01/07 DB hdl 17.78 +0.08 18.48 22.32 2M 2.5M 17.32
Buy Not Hit. Still working on the handle, bouncing off the 50 day EMA on the low for the second session. Just have to be patient as it hawks around, and let it show us the breakout and that it is worthy of our money.
HOLX 12/29 Test BO 69.74 +1.41 70.36 80.95 1.8M 3.2M 69.02
Current. Held 67.50 on the low again and bounced. HOLX is testing its investors' resolve, but thus far it is holding up in its two week range as it holds the breakout and tries to extend the move.
HOLX 12/15 Asc Bse 69.74 +1.41 67.88 77.65 1.8M 3.6M 69.39
HUM 12/12 Cup hdl 85.07 -0.72 77.91 89.95 2.1M 2.4M 83.92
Current. After a strong rally where we took some gain on Wednesday, HUM showed a doji on Thursday, taking a breather on lower volume. No issues with this action as a rest is normal after such a move.
IMA 01/07 Dbl btm 62.35 +0.30 59.21 69.95 1.8M 1.2M 59.92
Current. Added a modest gain after an explosive move higher this week. Stalling some but no issues with this move at all.
IMO 12/22 Rev HS 53.00 +0.09 55.15 65.95 323K 325K 54.57
Current. Has faded for a week, but it is holding support at the 50 day EMA and this is where it has to show us a move or we close it for lack of interest.
MA 12/17 Test 18 195.99 -0.59 211.98 244.95 4.9M 4.8M 204.22
Exited. Bounced but when we saw it fade back to the 50 day EMA and heard some rumors of a FDX warning to come we issued a sell alert. After hours FDX did warn of slowing business and MA was down $6 after hrs. Will see how it handles this news and it may give us a new buy point, but the pattern has deteriorated, and a gap lower will only do more damage.
MO 01/05 Test 50 78.82 -0.39 76.65 85.95 13M 12M 77.15
Current. Taking a lower volume breather as the beaten up stocks rebound on short covering. When their day is done then stocks such as MO will get money thrown back their way as the defensive plays move higher again.
OII 01/03 PreAnn 73.24 -1.59 75.55 90.95 873K 785K 71.35
Buy Not Issued. Still forming the handle, reaching down toward the 50 day EMA (70) on the low and rebounding. Good shakeout action. Just have to be patient and see if this nice pattern yields a breakout move.
ONXX 12/26 Asc Bse 54.42 +0.41 59.15 70.95 721K 1.8M 56.45
Buy Not Issued. Holding the 50 day EMA still as it works in its 9 week trading range. It is enticing, but it has to show us something that it has not yet.
SDS 12/12 Rolling 57.81 -1.09 53.96 60.75 27M 21M 58.89
Trailing Stop. Took the rest off the table as it sold back as the relief bounce continued. It tapped the 10 day EMA on the low and bounced some. We will see how it tests and then look at moving back in as the relief bounce runs out of gas or ethanol or whatever it is moving on.
SLB 12/29 Dbl btm 97.09 -1.52 100.93 114.95 10M 12M 99.78
Current. Was looking pretty heavy on the downside early as it tested down to the 50 day SMA on the low, but it came back and held up rather nicely. Still really like the pattern, but this is where it needs to show us something over the next few sessions.
SLT 01/05 Asc Bse 25.61 -1.28 26.68 32.95 1.3M 2.4M 25.45
Current. After a good move on rising volume Wednesday, SLT gapped lower. It held the 50 day SMA and bounced some. Still a solid pattern, it just did not extend the Wednesday move as anticipated Thursday.
SOHU 12/15 Cup hdl 49.50 +0.60 56.68 69.95 851K 2.6M 54.69
Current. Bounced off the 90 day SMA (48) after falling to that level Tuesday. Sure wish it had some volume on this move versus the declining volume Thursday. Really needs to gin up the strength as it bounces here to improve this technical action.
STE 01/08 DB hdl 30.70 +0.56 30.45 35.00 727K 700K 29.48
Entered today. Nice strong rising volume on a nice strong price gain as STE broke through resistance. Too good a move in a good stock in a good sector for this market to pass it up. So, we didn't.
TRA 01/09 Test 18 46.44 -0.40 47.88 57.65 3.4M 4.5M 44.95
Buy Not Hit. Still an excellent pullback to near support at the 18 day EMA, biding its time until this short covering bounce is over and it can get some new long side money thrown its way.
VIP 01/03 Test 18 42.00 +0.75 41.88 52.95 2.8M 3.4M 39.95
Buy Not Issued. Promising . . . again . . . as it bounces off near support at the 18 day EMA, trying to get that third leg off the breakout underway. Sure looks nice and a $4 or so move here would get our options revved up again and a strong break higher would give us a new buy to make more money as well.
VIP 12/03 Test BO 42.00 +0.75 36.78 42.85 2.8M 5M 42.38
Current.
VIP 11/08 Test 18 42.00 +0.75 32.52 40.45 2.8M 3.2M 42.38
Current.
WFT 12/05 Trnd Rv 67.93 +0.25 67.58 77.95 4.2M 6.1M 69.95
Current. Tested the 50 day EMA on the low (65.50) and looked weary, but then rebounded for a modest gain but a great recovery. Suddenly perking up and looking ready to resume the upside.
XTO 12/12 DB hdl 55.41 -0.33 54.13 61.45 5.9M 5M 53.94
Current. Took a breather after that strong Wednesday move. Like how it recovered after testing the 10 day EMA on the low, refusing to give up its gains.
Downside Plays
Stock Date Play Close +/- Pivot Tgt Vol TgtV Stop
AG 01/08 Put 64.71 +2.61 63.31 58.55 2.5M 2M 64.65
Buy Not Issued. Bounced up off of that Wednesday doji but stalled at the 10 day EMA on the high and slid back. Watching to see if it stalls out and resumes the double top selling. Moved the buy point to accommodate this move higher.
GME 01/08 Put 52.27 -2.84 55.03 52.44 10M 3.4M 52.88
Target Hit. Same store sales hit GME and it gapped lower and sold to the target. Took some nice quick 1-day gain.
SBUX 01/08 Put 20.31 +0.85 19.45 18.00 23M 21M 20.33
Current. Didn't give us the 1-day turnaround that GME did, moving higher through the 18 day EMA on the close. Still looking for it to fill that gap, but it needs to stall out in this area.
End part 2 of 3
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us stock market
trading system
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