Final hours! Save up to 55% OFF InvestingProCLAIM SALE

Tight Set-Ups For This Week: May 27, 2014

Published 05/27/2014, 08:08 AM
Updated 07/09/2023, 06:31 AM
EBAY
-
ISRG
-
BLDP
-
IBM
-
NSHK
-
MTLR
-
FIO
-
DNKN
-
EGLE
-
FCEL
-
H6XA
-
SIMPQ
-
MTRX
-
PLUG
-
SBLK
-
PKT
-
DANG
-
SFUN
-
GIL
-
TRQ
-
GOL
-
LULU
-
BEAV
-
TRNX
-
XONE
-
YY
-
MKTO
-
LITB
-
ECOM
-
RALY
-
BBH
-
ICLD
-
TXMD
-

I’m still excited about my daily long only watch-list, the excitement started 2 trading days ago after a long hiatus.  Some of the standouts from last weeks watch-list; Intercloud (NASDAQ:ICLD) +16%, YY Inc (NASDAQ:YY) +13%, SouFun Holdings Limited (NYSE:SFUN) +9%, The ExOne Company (NASDAQ:XONE) +7%, LightInTheBox Holding Ltd. (NYSE:LITB) +7%.

I have a lot of names that could possible trigger today.  I don’t look at charts in your conventional cookie cutter manner, or have rules as to where the stock should be whether its 15% off its 52 week highs or above or below certain moving averages etc…

Every morning I go through a few of my scans to find buy candidates for the day.  Depending on the current state of the market the size of the list will vary, usually its no more than 50 names.  My process is based on market structure not on beliefs or myths of what works– or what doesn’t work.  They are certain behavioral patterns that have been around for 100 years that are based on market structure, these behavioral patterns are recognizable, observable, and quantifiable.  On daily basis we have 5,000 liquid stocks that we filter based on certain market structures that gives us an edge of a higher probability than a random outcome.  Once the list is narrowed to a handful of names the market will further narrow down the list by getting us in or keeping us out of these names with a range expansion move.

These are what I consider very “tight set ups” that will trigger if  and only they break yesterday’s high.  On a regular trading day I would indiscriminately take every trigger because you just don’t know which one will be the big winner, you might have an idea but in the end you don’t know.

Put these names on your trading platform, set the alerts at yesterday’s high for each name, once the alert goes off take a look at the chart, decided within 3 seconds whether or not you are going to buy it, decide how much you want to risk on the trade and your stop loss, hit the buy button, and leave the rest up to the market, wash, rinse, repeat.

Gol Linhas Aereas Inteligentes SA (NYSE:GOL), B/E Aerospace Inc (NASDAQ:BEAV), SG mechel (NYSE:MTL), Gildan Activewear Inc. (NYSE:GIL), National Slaughter House Co. KSCC (KW:NSHK), Matrix Service Company (NASDAQ:MTRX), MagneGas Corporation (NASDAQ:MNGA),International Business Machines (NYSE:IBM), eBay Inc (NASDAQ:EBAY), E-Commerce China Dangdang Inc (NYSE:DANG), lululemon athletica inc (NASDAQ:LULU), Ballard Power Systems Inc (NASDAQ:BLDP), Turquoise Hill Resources Ltd. (NYSE:TRQ), InfoSonics Corp (NASDAQ:IFON), Plug Power Inc (NASDAQ:PLUG), Eagle Bulk Shipping Inc (NASDAQ:EGLE), Hercules Offshore Inc (NASDAQ:HERO), FuelCell Energy Inc (NASDAQ:FCEL), Fusion-io Inc (NYSE:FIO), Rally Softwr Dev (NYSE:RALY), Marketo Inc (NASDAQ:MKTO), Channeladvsr Co (NYSE:ECOM), Therapeutic (AMEX:TXMD), Market Vectors Biotech (NYSE:BBH), Intuitive Surgical Inc (NASDAQ:ISRG), Star Bulk Carriers Corp (NASDAQ:SBLK), Procera Networks Inc (NASDAQ:PKT), Dunkin Brands Group Inc (NASDAQ:DNKN).

Disclosure: The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.

Latest comments

Loading next article…
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.