Breakout Trading using Time and Sales

This is a discussion on Breakout Trading using Time and Sales within the Trading Journals forums, part of the Reception category; There have been a few breakouts, but Time and Sales never confirmed an entry on most of them. WMT did ...

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Old Nov 12, 2009, 4:43pm   #76
 
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amit1986 started this thread There have been a few breakouts, but Time and Sales never confirmed an entry on most of them. WMT did break to new highs prior to 10am, but Time and Sales never showed enough momentum to confirm the entry. Did take two trades, but momentum suddenly turned around and I was quick to get out and breakeven on those two trades.
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Old Nov 13, 2009, 3:17pm   #77
 
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amit1986 started this thread RINO trading up from yesterdays close in pre-market significantly. Now up by more than $4 @ $27.90 from yesterdays close of $23.38. This is due to better than expected earnings it posted this morning.

Lots of other stocks on the watch list for today, will post some a little later.
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Old Nov 13, 2009, 3:50pm   #78
 
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amit1986 started this thread Some other stocks to watch today: DIS, ANF, COST, JCP, LVS, and SUN.

Also, I've put an alert on URBN to remind me when it reaches 34.25, which is the 52-week high for the stock. A break out of 34.25 could spark some buying pressure.
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Old Nov 13, 2009, 4:34pm   #79
 
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amit1986 started this thread Watching MOS with a view of taking a short. Previous days low, which was support, has now become resistance. Low of day = 48.75. There is also the formation of a slight descending triangle.
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Old Nov 17, 2009, 3:03am   #80
 
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amit1986 started this thread Although the markets are closed right now, I will be keeping an eye on SPWRA during tomorrow's trading session. The company reported that its internal review identified "unsubstantiated accounting entries". As a result of these news, the stock is trading down post-market -6%.
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Old Nov 18, 2009, 3:45pm   #81
 
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amit1986 started this thread Markets slightly flat the moment. Latest 5-minute candle has penetrated yesterday's high. Markets look to be heading up, but that could change. As for now though, if things continue as they are, I'll be favoring long positions as opposed to short positions. We'll see what happens around 10am. Got crude inventories data coming out at 10:30am EST which may provoke some market movement.
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Old Nov 18, 2009, 3:51pm   #82
 
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amit1986 started this thread Really fast turn around in the markets. S&P 500 futures and Nasdaq 100 futures have now made new lows. Shorts are now more favorable at this point in time.
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Old Nov 19, 2009, 3:59pm   #83
 
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amit1986 started this thread Got a few stocks to watch today. Markets are currently down a significant amount, but that could all change with the data we have coming out in about 4 minutes. If this trend continues, I will be favoring short positions.

Massive gap down on ASML. There was resistance at the $30 whole number (which is expected), and the current 5-minute candle is showing that support has now become resistance. Time and Sales not displaying enough momentum at the moment to confirm any entries, but will keep an eye on it in the event momentum changes and goes in my favor.

Semi-conductor stocks may also present good moves, along with ABX, MRVL, HD, GYMB, and STP. There are many others as well.
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Old Nov 19, 2009, 4:06pm   #84
 
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amit1986 started this thread No entry on ASML at the moment. Momentum was not there on the breakout. If you look at the chart, you can see it's now turned around and heading back up above the $30 whole number. Furthermore, data released on 10am EST showed positive news, which has resulted in a slight turnaround in the markets.
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Old Nov 19, 2009, 4:28pm   #85
 
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amit1986 started this thread CVS looking good for a break to the upside. Price currently hovering around the $31 whole number. Want to see the current 5-minute candle close above the whole number. A subsequent break of the high of the candle will trigger an entry, if Time and Sales confirm momentum.
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Old Nov 19, 2009, 4:39pm   #86
 
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amit1986 started this thread CVS did break out with some strong buying pressure, but T&S did not yet confirm an entry as there quite some selling pressure subsequent to each breakout. High of day now at 31.15. Still keep an eye on it.
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Old Nov 19, 2009, 6:04pm   #87
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CVS is a definate yes
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Old Nov 19, 2009, 6:07pm   #88
 
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amit1986 started this thread I tried a couple of entries on CVS but constantly closed them out for breakeven as time and sales reversed momentum. It went up a good 20 cents on the break of 31.20, now it's reversed...
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Old Nov 25, 2009, 3:48pm   #89
 
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Re: Breakout Trading using Time and Sales

amit1986 started this thread Not many stocks to watch today - approximately 20. Markets fairly flat at the moment with no clear direction. Got some news coming out at 9:55am EST (Mich Sentiment-Rev), 10:00am EST (New Home Sales), and 10:30am EST (Crude Inventories) which may induce some market movement.
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Old Nov 27, 2009, 3:18pm   #90
 
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Re: Breakout Trading using Time and Sales

amit1986 started this thread It's going to be an interesting trading day today. Due to Dubai's debt re-payment status, the U.S. equity futures are trading down sharply.

I'm going to be keeping an eye on financial stocks (because they have exposure to Dubai's debt), Gold stocks (ABX), Energy stocks (CVX, XOM), DE, NEM, and a few more.

U.S. equity markets close early today, at 1:00pm EST.
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