Day Traders Seeking Volatility after SPY Inside Day 2-19-16

Holy_GrailMy search for the solution, the trading Holy Grail..

What I personally have gone through, I am confident is the same traders path you are experiencing now. Buy trading books and immediately go to the chapter about entry signals.  That was what I went through when I first started trading.  I wanted to just get involved.  I wanted to learn where the gas pedal is, just get me in the game.

Next, trade for a month, buy another book, look for the missing ingredient.  I have a huge affinity for trading education.  I have books everywhere, but I’m going to tell you this right now. Don’t book yourself to death. 

Get a solid idea of what you’re looking at, get involved a little bit with little risk, make revisions, keep making revisions until you start to see some consistency.  Okay?  I’d buy a book, try that, buy another book, try that.  You have to learn what works for you, but at some point you have to intuitively say, this one makes sense to me.

This is the one that I’m going to give some time with, this is the one that I’m going to give multiple market conditions with, and ultimately stick with this one, and maybe make tweaks here and there, but I’m not going to keep looking for a different watch.  I got the watch that I want to read.  Very, very important there.

Next, I kept thinking if I knew more I would earn more.  I’m going to tell you right now, the most successful traders that I know have the most simplistic trading screens, period. Volume, a couple of moving averages, and candlestick charts.

Then you have a couple of different versions of that, meaning multiple time frames.  You don’t need to know more.  You need to know what you’re looking at, and then take it a little deeper to what specifically you should be looking at.  That’s where the trading success comes from, that’s the trading Holy Grail, getting to that point.  All right?

Next, I did all of this for twelve months while I was looking for the Holy Grail.  At one point I had one year of experience, or at least that’s what I thought, until I finally realized what I was doing.  I had twelve one-month experiences.  In other words, what I was doing was not experiential.

Trading Podcast Downloads

Pete’s  Day Trading Notes:

  • The stock market played along with out game plan perfectly, sets up a nice inside day breakout.
  • Oil appears to have put in a double bottom.
  • $GS continues to be weak.

Stock Market Today: Map of the S&P 500

(click the map for a full view)

spy map 19

–> Top 25 Proprietary Trading Secrets

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Day Traders Seeking Volatility after SPY Inside Day 2-19-16

Stocks knocked back as oil rally falters

A faltering oil price rally pushed back European stocks and sent benchmark German Bund yields below 0.20 percent on Friday as worries about the global economic outlook returned to prominence.

The renewed aversion to risky assets pushed the Japanese yen to 2-1/2-year high against the euro. Sterling dipped as summit talks on changes in Britain’s European Union membership dragged on through the night.

Brent futures LCOc1 fell 57 cents to $33.71 a barrel after ending the previous day down 22 cents. A record buildup in U.S. crude stockpiles stoked concern about global oversupply, outweighing moves by oil producers, including Saudi Arabia and Russia, to cap output.

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Chart Reading the SPY ETF

SPY inside day will lead to an expansion in volatility. Look for a trend day, continuation patterns on the 5 minute chart will give clues to hold good trades longer.

(click the chart for a full view)

spy chart 19

Technical Analysis | Charts of Interest


#HON | Honeywell flirting with 52 week highs, again. My trading alert keeps triggering at $106 every month or so. It can be frustrating when these types of trading setups fail to follow through…but stop thinking that way.

It only take one successful breakout to get paid handsomely.

(click the chart for a full view)

Stocks to Trade 2-19-16

Short-Term Trading Momentum:

Positive the last 20 and 5 trading days | closed 2% higher from the open: RAX, TRGP, CF, WPZ, PAA, STX, AEM, WYNN, BBBY, NEE, ADSK, TGT

Negative last 20 and 5 trading days | closed 2% lower from the open: atvi, ea, tso, hfc, myl, incy, wnr, pbf, nfx

Quarterly Order Flow:


Bearish Stocks to Trade: nfx, panw, pbf, wnr, mpc, incy, nflx, rcl, nxpi, vlo, scty, trip, myl, hfc, cnc, crm, tso, ea, nclh, c, gs, wba, atvi, vrtx, pnc, amzn, esrx, aig, tsla, met, lnc, amt, lnkd, wdc


Inside days: csco, jd, gild, scty, bp, aal, csx, sbux, met, cern, crm, pm, lly, mo, dow, azn, vrx, nwl, esrx, teva, ccl, tmus, lnc, pru, dd, lgf, yum, skx, cpb, adi, car, mm, un, trv, kmb, lulu, tif, crus

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