Days of Stopping Out Question

BBB

KLAC was also a weak short at 44.30..............and has since rallied back!!!
Stops don't look in danger of being hit......yet

Need to enlarge my watchlist as EOD scans need to produce a few more results to choose from.

Yea - Ive ditched cbrl. Nothing happening today. It fell Thurs after falling short of earnings expectations. When this happens stocks often consolidate for a bit - TA bears selling to the fundamentals who see a bargain at the price.

My long is doing well (sina) but Im expecting a sell off towards the close.

How large is the watchlist? Ive narrowed mine down to around 70 - all with a beta > 1. I then look at the hourly charts for entry if trading the hourly bars, or the daily for 5 min entries (as I m doing today) Im only watching 5-10 a day though. I may make several entries though when doing a 5 min chart.

S0d it. Im going to close out sina now before the sell off

Hi BBB

My watchlist is work in progress with around 15 stocks. I intend to get it to between 30 - 50 in order to generate around 5 potential plays either side per day.
I use a similar strategy as the one for the DAX, but on a daily basis in relation with 50 and 200sma. Entry is above/below previous days high/low.

Both GENZ & KLAC didn't perform today, but their not in danger of stopping out. Holding time can be couple of days to couple of weeks.

I'll run the scan after 9 tonight and let you know what fruits it bares

Cheers

Results of Scan for Tuesday

AMZN buy above 42.30 with stop at 41.17 for possible $1.50 move
LNCR buy above 34.95 with stop at 34.36 for possible $1 move

ADI sell below 47.85 with stop at 48.76 for possible $1 - 1.50 move

Let's see how these make out tomorrow

Cheers

cd, this is how I see Dax. I agree in hindsight its fine but it might give you something to look at.

Initially on the daily chart below, we broke violently lower and have since retraced approx 50% and run out of steam with a number of similar length bars. I would be looking for the next move down and would be wary of a break to new (week - 2 week) lows.

On the 2 min chart I have tried to show how I see things. The rectangle is difficult to trade, I think you either sell new highs or buy new lows but its not easy. I have then included horizontal lines which I think are areas where I would either be selling the bounce (so sit on offer) or more likely hitting bids as we break lower. Today is an extreme day as there is a big violent move without much retracement (ie trendline). When this breaks I would look to see if its likely to go lower or not and sell each break of my red line.

Hope this helps and feel free to ask questions.