I hope you are all having a great weekend………the weatherman here is calling for snow possible tonight, not sure if we will get it here at the house
but I would be willing to bet the mountains will be white in the morning.
I will be doing a webinar this Thursday 8pm est…..please send any questions you have my way firstname.lastname@example.org.
Momo Traders by Brady Dahl is out and should be available on Amazon this week, I was honored to have been included in the book……which
is a great collection of interviews with 10 top traders and how they started their trading careers.
Nice day Friday for the Thursday scan setups, all but one triggered Friday and acted very well……..BITA triggered 29.50 and closed at 32.73,
ATHM triggered 32.55 and closed 34.48, LABU triggered 18.35 and closed 18.91, JD triggered at 28.05 and closed 28.91, YINN triggered 18.45 and closed 19.99.
As always trade your plan, I will continue to give them some room to work higher on the ledger. PYPL and FCX were tweeted out Friday and both also
triggered and closed well.
Here are charts of both BITA and ATHM , 60 min charts, both have nice trend change in place here, resistance is marked off above, nothing goes
straight up ,ideally these will need to either pull some to work off the nearing o/b or consolidate some while working off o/b and the 50 per ema
catches up with the price……….so I will continue to give them some room and continue to evaluate the charts and price action .
We are moving into earnings season, I do not hold anything thru earnings and any active trades still on will be booked before
their earnings are released.
Weekend Scan Setups:
SPX 60 min chart, some very constructive action with higher lows in place . Friday we moved thru resistance in the
1925/1930 area to resistance at 1950……we are over bought here so some backing and filling should
not be unexpected.
BABA 60 min chart, has changed trend here , I would prefer a pullback to initiate a long here as in this timeframe it’s starting to get
o/b….so two options a. buy a pull off the reset 61/62ish or b. buy the break higher 63.30
BCEI 60 min chart, I was hoping this would hold off on the break thru 5 until Monday……nice trend change in
place in this timeframe , two options a. buy a pull to the 5 area b. buy a break higher 5.75