Evening trading US shares

[PitBull]

Sector Moves

I always like to study the sectors as this gives clues as to where institutional money is flowing. Now the 1st quarter window dressing is done, fund managers will be looking to make use of assets or not for the coming quarters. Even though the old maxim "sell in may and go away" applies there are two sectors that could be setting up.

First is the $SOX. As I said earlier on the board it broke a critical level a week back and tested the breakout level yesterday, running the stops and then closing right on the breakout level, making a nice hammer.

Stocks in the SMH ETF are:
ADI, ALTR, AMAT, AMD,AMKR,ATML,BRCM,INTC,KLAC,LLTC,LSI,MU,MXIM,NSM,NVLS,SNDK,TER,TXN,XLNX


Second is the BBH (Biotech's): Just breaking out of consolidation.
Notable stocks in the BBH ETF are:
AFFX, ALKS, AMGN,AMLN, BIIB, CEGE, CELG, CEPH, CVTX, DNDN, GENZ, GILD, ILMN, IMCL, ISPH, IVGN, MEDI, NUVO,TEVA, VRTX, XNPT

So it could be worthwhile tracking some of the bigger names to day trade or swing trade.

Good trading

 

[PitBull]

Pre market

Just looking at pre market movers and it looks like the biotechs are moving, TEVA up $1.20 with 1.3m shares, BIIB up 0.69, AMGN up 0.40, DNDN up 0.23 with 350k shares.

Other notable pre-market movers:
GRMN down $2.37, NVTL up 0.78, FSLR up $1.70 NTRI up $1.62 but volume low

Good luck

 

[yacarob1]

PitBull

I like your posts. Very informative.

Much better than all the sniping and back-biting.

Thank you and keep them coming.

 

[dvdh]

Some interesting NYSE stocks so far:
ma
nt
dj
rig
ice

 

[Indi]

Hi
I have been trading futures for some time but felt i was missing out on those trending stocks which it seems premarket scans particularly help to find however noting your lists it seems esignal scanners seem to be missing stocks everyday.I was curious to see what Scanners you all use out there and what parameters you are using throughout the day.


cheers for any help

Indi
ps An example of my frustration with my esignal scanner,is the fact that MA was missed out on my premarket scan.

 

[dvdh]

Hi
I have been trading futures for some time but felt i was missing out on those trending stocks which it seems premarket scans particularly help to find however noting your lists it seems esignal scanners seem to be missing stocks everyday.I was curious to see what Scanners you all use out there and what parameters you are using throughout the day.


cheers for any help

Indi
ps An example of my frustration with my esignal scanner,is the fact that MA was missed out on my premarket scan.

Hi Indi,

I find all the premarket gappers in the IB most active scanner page. This page updates premarket and finds the best gappers. I also go through briefing.com for news stories. Many of the big NYSE movers have no premarket trade, but open and move from the get go. That's why you want briefing.com to find them. MA was nr. 3 in the IB most active list premarket!

-Dave

 

[yacarob1]

I didn't know that page existed in IB Dave.

Where exactly is it in IB ?

 

[dvdh]

I didn't know that page existed in IB Dave.

Where exactly is it in IB ?

You have to enable the market scanner feature in interactive brokers. Then if you click on the market scanner icon, a new quote page tab will open, you just select the instrument (stocks) exchanges (nyse, nasdaq (make sure you uncheck, the penny stocks)), filters (min price 5), and the scan function (where you choose most active!)

During market hours, you just see the biggest volume stocks. Premarket, you see the volume gappers.

Hope this helps,

-Dave

 

[Grey1]

EASY PEASY LEMON SQUEESY
Those of you who want to know about the AKAM trade they should look at my post on BIRTH of trend,

We are technicalTraders hence we should be trading technically based on the technical merit of a stock ,,,

I also had a short SNDK postion which was closed with only 99$ profit,, had i stayed longer I would have ,ade extra few $$. SNDK was the ONLY weak stock in my list...

up over $2000. I am not sure if I be trading more as FIBBO ( one of he guys fro the BB ) are sorting out few problems with the engine ,,,

 

[mr.marcus]

Dave,
Many Thanks for reply.just having a look at it .looks like a good little scanner.Hope its ok with you if I got any further questions.

cheers

Indi

....manoj you mong......your logged on as me at the office...cheers for helping one of the guys though dave...........mark j

 

[Grey1]

opps forgot the trade.

 

[yacarob1]

Cheers Dave

 

[dvdh]

....manoj you mong......your logged on as me at the office...cheers for helping one of the guys though dave...........mark j

No problem.

 

[dvdh]

Cheers Dave

No Problem

 

[dvdh]

Cbg

CBG is a news stock that didn't trade premarket. So I expected a good move within the first few minutes after this stock opens on the NYSE. Because there will be a lot of institutional volume since there was no premarket trade!

I bought CBG at 37.23 at 9:40 when I saw momentum coming in with market orders. This stock kept ticking higher until there was a big offer at 38 even. I transmitted my market sell order when I saw this order, got filled around the 37.90 level at 9:41.
My stop was at 37.10.

-Dave

 

[Grey1]

I always like to study the sectors as this gives clues as to where institutional money is flowing. Now the 1st quarter window dressing is done, fund managers will be looking to make use of assets or not for the coming quarters. Even though the old maxim "sell in may and go away" applies there are two sectors that could be setting up.

Keep your eyes on Bio tech sector,. they are best of the bunch .. Also there is a software ( OMNI TRADER ) which allows you to choose the best of the any particular sector.

Grey1

 

[dvdh]

ICE also reported earnings today. Had it on my watchlist this morning. Found this stock on briefing.com.

Ice also made a nice setup. I bought it at 9:59 at 128.75. Sold it when It broke my 5 moving average at around 130 at 10:06. Should have sold it earlier, but was distracted by other positions. should woulda coulda!

 

[dvdh]

MA has also reported today. Found that one in my most active list in interactive brokers!

MA was a little choppy off the open, but made a nice setup around 10:10.
Bought it around 126.60, when the momentum came in and sold it when it squeezed through the high of the day at that moment, because it was a big move from the breakout point (triangle) and when they break the high they tend to retrace pretty quickly. So exit was at 10:13 over 128 even.
Another setup in MA was at 10:22 when I bought the 128 even to sell'em when the move stopped at around 129.50 at 10:24.

As you can see the exits are pretty quick as soon as the move stops, when the short term momentum evaporates. MA is a hybrid NYSE stock. And as you can see it makes bigger setups and they break out aggressively and then retrace again. So that's why the exits are soo quick.

 

[dvdh]

GRMN was also a gapper that I found in the IB active list.

This trade failed. I was looking at the 3 minute chart and expecting a move lower and break the low of the day.
I shorted it at 55.48 at 10:26. It tried to make new lows. But failed. My stop was at 55.60. It got close to my stop and then started ticking down again, when it then moved higher again, I closed it, because no momentum came in and i was filled at 55.50 at 10:29. It then moved right through the 60s.

When a trade doesn't work, I just exit. Not worth focusing on something that ain't gonna move your way!

 

[dvdh]

WHR came through the $ gainers list. Missed out on most part of the move but based a little around 112 at 11:15 on the 1 minute chart. I bought 112 at 11:16 and sold it around 113.50 at 11:21 when it all got choppy.

I know my entry and exit points aren't really clear on the charts I posted, but I'm working on how I can draw on them! If you want to see them clearer just open a chart on your computer and scroll to the times of my entry and exit.

-Dave