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Another huge day for the watchlist. Congrats to those of you that are hitting them. I was going for the kill shot today on CRUS. CRUS was the same set up ast EXR which worked perfectly. Doesn’t matter if we miss, we have to focus on the highest probability/profitable set ups. Sometimes we all get on a little streak where we are just picking the wrong ones to focus on. CRUS did provide several ops to make money, in fact every call was up at one point, but trade calls were not managed properly. Mismanaged my trades on CRUS (we all get away from our disciplines sometimes)… back to the basics tomorrow. Easy to get caught up in the chop when we get these no range trading days. We will have some huge volatility in August. HUGE NEWS ALERT ON MGLN. Profitable short, loss long, profitable long, profitable short totals over $5,000 for me in the last hour. Looking for a big red day tomorrow.
$SPY Analysis 9:10-9:15 EST tomorrow morning in chat.
Tomorrow we have the FOMC minutes, ADP report and tons of other data to be released. Friday we have the employment situation report.
Last Nights Watchlist
VVUS Short – Entry 21.69 – Best Level – 21.02
ANF Short – Entry 34.65 – Best Level 33.59
BAS Long – Entry 11.01 – Best Level 11.22
PAAS Long – Entry 14.88 – Best Level 15.28
DECK Short – Entry 42.15 – Best Level 40.50
Tomorrow’s Watchlist
VVUS Short – Looking for more on this one. Tank and Bank. Trigger = 20.89
FSLR Long – Like to have a good mix of longs and shorts to watch just in case… what the heck was this doing up today??? Looks like a small insider buy had it up…. Trigger = 15.71. None the less it closed outside a channel on the daily. See if we get some follow through tomorrow. Resistance comes into play at 16.19
EXPE Long – Still like this one if we can take out last Friday’s high. Today was the first day we closed outside our upper expanding range line. This could go parabolic now. Trigger = 58.41
LOW Short/Long – This probably going to be a good short as volume got very heavy today. We are initially watching for a short if we get a volume spike on our 5 minute chart when we hit our Trigger = 25.10. Time the bottom off a doji and look to get long for the throwback.
WLP Short – See if this puppy is going to crack to new lows on the daily. Does not look like it is consolidating for a move higher after the big woosh down. Trigger = 52.51 (Looking for similar move to SBUX)
QCOR Short – This pos has to come in now….. Will need a look at the entry and this has a very wide ATR on the 5 minute chart so cost of entry is expensive. This needs room. 5 minute ATR averages .30 cents…. Trigger = 36.73
TEX Long – See if this little breakout move can continue. Obviously got thrownback a little bit today. Looking for entry .01 above gap fill from January and above the recent range. Trigger = 19.68
LULU Short – Stock is off the trend line on the daily and trading in a huge air pocket from Jan. Looking to get short below the trend line (Current price level is below) and at a new relative low. Trigger = 56.21
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