Daily AM Prep - July, 01

** Preparation for Morning Session**

MARKET CONDITIONS

World Markets News: Asian markets finished broadly higher today with shares in Hong Kong leading the region. European markets are higher today with shares in London leading the region.

  • 10:00 - ISM Manufacturing Index - Bullish expected
  • Holidays: Canada and Hong Kong

Economic Calendar



SPY - World markets are on the green. Spy had a sideways consolidation during last session, closing the gap up of previous day. Notice the volume decreased in this up move.
1-) Neutral (33%) - Monday morning usually is a low session so the continuation of the sideways move is a possible movement for today. The range limitations are 161.50 and 160.00. If market start trading outside the range, move into the other scenarios. If volatility is very low, do not trade.
2-) Bullish (33%) - If start trading above 161.50 a gap fill is possible and the first resistance is the 163.00 level, followed by the long term down trend. Trade on the long side, but be careful when the resistances are reached.
3-) Bearish (33%) - The down move would come into play if start trading below 160.00, but a close support at 159.25 could cause prices to move back up. If not the down trend would continues and a new trend down line could come into play. Favor short trades.

Long Term Bias: Bearish
Short Term Bias: Neutral
Accuracy:

AM Stock Selection Sheet download
Updated at 7:40

Want more information about the Stock Selection Sheet?
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Read this before using the information provided in this page:
1.Educational purpose material only. Use this information at your own risk.2.Stocks may be added to the selection sheet at any time. They are used as a guide to select which stocks I will trade and set alerts . It does not mean that I follow all of them, that would be crazy.3.The Accuracy information is for my own use only. It is reviewed after I am done trading. This is just a way for me to measure how is my reading of the market and my confidence in it. I suggest you develop your own way to do this.4.The morning sheet will be updated between 8:00 and 9:00
No comments:

Daily PM Prep - June, 28

** Preparation for Closing Session **

MARKET CONDITIONS



SPY - Moved into expected scenario #2 from morning preparation, which favored short trades. Likely to stay inside the 160 / 161.50 range today.
1-) Neutral (50%) - since it´s Friday, the expectation is for market to trade between the 160.00 and 161.50 levels till the close.
2-) Bearish (30%) - If the low of the day is taken out, it could move to next support level at 159.50. Would be good to trade on the short side, but would not much room. Watch as it get´s close to the 159.25 level to see if can break below.
3-) Bullish (20%) - If it take the high of the previous day and hold above, then it would move into this scenario which would favor long trades.
Long Term Bias: Bearish
Short Term Bias: Neutral
Accuracy: 

PM Stock Selection Sheet download
Updated at 12:30

Want more information about the Stock Selection Sheet?
Legends - Click me
Read this before using the information provided in this page:
1.Educational purpose material only. Use this information at your own risk. 2.Stocks may be added to the selection sheet at any time. They are used as a guide to select which stocks I will trade and set alerts . It does not mean that I follow all of them, that would be crazy.3.The Accuracy information is for my own use only. It is reviewed after I am done trading. This is just a way for me to measure how is my reading of the market and my confidence in it. I suggest you develop your own way to do this.4.The afternoon sheet will be updated between 13:00 and 14:00
No comments:

Daily AM Prep - June, 28

** Preparation for Morning Session**

MARKET CONDITIONS

World Markets News: Asian markets closed sharply higher today with shares in Japan leading the region. European markets are lower today with shares in France off the most.

Economic Calendar



SPY - On the past 2 days it moves up pre-market and during the day moves with smaller amplitudes. Short term up trend was broken yesterday, putting market into sideways move.
1-) Neutral (35%) - Could test yesterday high / low but remain trading inside this range. This would be an inside day with low amplitude. Trading in days like this one is not good because stocks tend not no move much either. Be very selective to enter the trade.
2-) Bearish (33%) - Short term trend was broken. if the low is taken out, next supports are: 160.25 and 159.50. If sellers are really strong, and start holding the trading activity below the 160.25 level, things may get ugly. Favor short trades on lost supports.
3-) Bullish (32%) - up move is possible as well, but there is a gap at this level, so likely it will find some resistance at this level. If the gap is closed, buyers still have the down trend to win. Favor long trades and some possible short on resistance levels would be good trading.


Long Term Bias: Bearish
Short Term Bias: Neutral 

Accuracy:

AM Stock Selection Sheet download
Updated at 7:40

Want more information about the Stock Selection Sheet?
Legends - Click me
Read this before using the information provided in this page:
1.Educational purpose material only. Use this information at your own risk.2.Stocks may be added to the selection sheet at any time. They are used as a guide to select which stocks I will trade and set alerts . It does not mean that I follow all of them, that would be crazy.3.The Accuracy information is for my own use only. It is reviewed after I am done trading. This is just a way for me to measure how is my reading of the market and my confidence in it. I suggest you develop your own way to do this.4.The morning sheet will be updated between 8:00 and 9:00
No comments:

Trade Review - HDS - June, 27

Stock Selection Information

IPO today.
Price reference - 22.00 - 25.00
Shares - 53,191,489
Offer Amount - $1,529,255,300
**Daily picture not relevant

Watch List Reason - IPO
Pre-Market Volume - N/A
Trading Plan - To go long if price is above the reference levels.

Management

Entry Setup used: Momentum play with tape reading.


Trading Comments

The stock had opened below the reference prices and I was looking it trade around the 18.00. It should´ve drop this level, but did not. I could see the buying pressure on the way up. It tested the 18.25 once and failed it. On the second test, it broke above with good volume and I got in at 18.26. Tape reading skills helped me to take the trade on a momentum setup.
When momentum was over I closed the position.

Evaluation

The entry and execution of the trade was fine. This is how I like to trade, stocks with fast prints and momentum. Lately the market is not showing this movements pre-market, so I´ll need to adjust my opening strategies.
Also I could´ve stick to the stock and find other entry points in the stock.
No comments:

Daily PM Prep - June, 27

** Preparation for Closing Session **

MARKET CONDITIONS



SPY - It moved to the expected resistance area at 161.21 and now is consolidating at this level. Also respecting a short term up trend line.
1-) Neutral (60%) - It is the most expected scenario. Do not believe it will move too much in the afternoon. High and low of the day are the key levels to watch for the afternoon.

Long Term Bias: Bearish
Short Term Bias: Neutral
Accuracy: 80%

Updated at 12:50

Want more information about the Stock Selection Sheet?
Legends - Click me
Read this before using the information provided in this page:
1.Educational purpose material only. Use this information at your own risk. 2.Stocks may be added to the selection sheet at any time. They are used as a guide to select which stocks I will trade and set alerts . It does not mean that I follow all of them, that would be crazy.3.The Accuracy information is for my own use only. It is reviewed after I am done trading. This is just a way for me to measure how is my reading of the market and my confidence in it. I suggest you develop your own way to do this.4.The afternoon sheet will be updated between 13:00 and 14:00
No comments:

Daily AM Prep - June, 27

** Preparation for Morning Session**

MARKET CONDITIONS

World Markets News: Asian markets finished mixed as of the most recent closing prices.European markets are mixed. 

  • 08:30 - Initial Jobless Claims - Bullish expectation


Economic Calendar



SPY - Yesterday we had the level of the previous range tested at 160.25.
1-) Neutral (40%) - I don´t see the market gaping (up or down) today. The references for this scenario are the 159.50 and 161.25 level. Before moving to scenario #2 or #3 it has to start inside this range. If I am wrong and it gaps up, look for a gap fill to the down side. If it gaps down, then due to the bearish long term bias, go with the move. On low volatile scenario around the 160.25 level, stay away.
2-) Bearish (35%) - The long term bearish bias and the fact that we are testing the brake down zone, suggests buyers will not hold this level. If we start trading below 159.50 favor short trades.
3-) Bullish (25%) - If the bulls are stronger and decide to move prices higher, we have to possible resistances: the gap area and the down trend. Favor long trades, but don´t be too greed on the profits.

Long Term Bias: Bearish
Short Term Bias: Neutral
Accuracy: 75%

AM Stock Selection Sheet download
Updated at 7:50

Want more information about the Stock Selection Sheet?
Legends - Click me
Read this before using the information provided in this page:
1.Educational purpose material only. Use this information at your own risk.2.Stocks may be added to the selection sheet at any time. They are used as a guide to select which stocks I will trade and set alerts . It does not mean that I follow all of them, that would be crazy.3.The Accuracy information is for my own use only. It is reviewed after I am done trading. This is just a way for me to measure how is my reading of the market and my confidence in it. I suggest you develop your own way to do this.4.The morning sheet will be updated between 8:00 and 9:00
No comments:

Daily AM Prep - June, 26

** Preparation for Morning Session**

MARKET CONDITIONS

World Markets News: Asian markets finished mixed as of the most recent closing prices. European markets are sharply higher today with shares in France leading the region. 

  • 08:30 - GDP (QoQ) - 2.4% - No change expected


Economic Calendar



SPY - Market slowly move it´s way up yesterday, but is it still in a potential range zone. Did not see much strength in it yesterday, but Europe is all on the green and this could help an up move today.
1-) Neutral (50%) - To me this is the mostly likely scenario. For it to develop the range between the blue lines. It could test the 160.00 zone, but if goes back below this scenario is still in play.
2-) Bullish (30%) - The only reason this scenario is in front of the Bearish is because Europe is on the green. Otherwise this would be my least possible one. For this scenario to come into play must trade and hold above 160.00.
3-) Bearish (20%) - If the low of this down move is taken out, it is likely that we will test the next support at 154.00. Market could need a rest from falling, so it would have to come from a Neutral state to a Bearish one to make it true.

Long Term Bias: Bearish
Short Term Bias: Neutral

Accuracy: 95%

AM Stock Selection Sheet download
Updated at 8:45

Want more information about the Stock Selection Sheet?
Legends - Click me
Read this before using the information provided in this page:
1.Educational purpose material only. Use this information at your own risk.2.Stocks may be added to the selection sheet at any time. They are used as a guide to select which stocks I will trade and set alerts . It does not mean that I follow all of them, that would be crazy.3.The Accuracy information is for my own use only. It is reviewed after I am done trading. This is just a way for me to measure how is my reading of the market and my confidence in it. I suggest you develop your own way to do this.4.The morning sheet will be updated between 8:00 and 9:00
No comments:
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