SPY Profit Taking Arrives | Stocks to Trade 11-10-15

Healthy day of selling in the stock market yesterday

Amazing how many traders have lost perspective. One day of selling has everyone running for the hills. Stocks need to fluctuate a little, this gives us better levels to read the tape. Straight up or straight down is tough. Let’s embrace some different price action.

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Stock Market Today: Map of the S&P 500

(click the map for a full view)

SPY Profit Taking Arrives

Day Trading Game Plan: The SPY ETF Outlook

SPY price action trade lower and below the open for most of the day. This is healthy. The SPY was near resistance and overbought. $206.45 is the 20 ema on the daily chart. This is the area to watch for new buying.

(click the chart for a full view)

SPY Profit Taking Arrives

Pete’s Notes:

  • Casino stocks broke down yesterday. I still like them long.
  • SKX and TWTR have room to go on the short side.

Charts in Focus

ATVI | Activision Blizzard Inc.

One of my go-to trades is a two day pullback closing on the lows both days. A lower open in ATVI is a buy on the first sign of support. (Be sure to read the news on this stock before you place a trade)

(click the chart for a full view)

SPY Profit Taking Arrives


Stocks to Trade 11-9-15


SPY Profit Taking Arrives | Stocks to Trade 11-10-15

Earnings in play today > 1M avg shares: DHI, CTRP, W, NAT, CSIQ, VOD, FOSL, ACM, AER, ROK, WUBA, JUNO, DRYS

Relative strength to yesterday’s SPY negative change from the open: VRX, NSC, GPRO, RDC, CF, CLDX, GRUB, SLCA, AEM, AMBA, MDVN, XON

> 20sma, positive week and closed 2% higher from the open: NSC, CLDX, SLCA, AMBA, XON

<20sma, negative last 5 days and closed 2% lower from the open: twtr, atvi, kmi, m, mnk, nrf, lvs, wynn, mpel, kss, wmb, endp, ete, yum, skx, hcn, joy, vtr, rost, car, atw, dyn, mbly, scty, tol, pcar, vfc

Bullish Ideas ATR/Volume/Price: FB, BABA, WTW, V, DIS, MCD, ABBV, VLO, AMZN, BIDU, ADSK>64, MA, PSX, GS, PNC, GOOGL, ADBE, TSO

Bearish Ideas ATR/Volume/Price: twtr, vrx, qcom, mnk, twx, ibm, wynn, gpro, feye, tgt, yum, skx, etp, hcn, cvs, car, cyh, wdc, scty, stx, oke, bhi, de, vfc, lulu, akam, bhi

Weak Stock Weak Close: mnk, wynn, kss, m, car, twtr, scty, hcn, yum, skx, wmb, hcp, vfc, vtr, kmi, tol

Strong Stock Weak Close: CTRP, BIDU, BABA, LNC, VLO, STI,

Weak Stock Strong Close: aem, cf, grub, vrx

Strong Stock Strong Close: RDC

20 day Breakdown: car, hc, htz, ibm, jnpr, m, mnk, nrf, twx

20 Day Breakout: APA, CFG, CLDX, DF, NSC

2x Normal Volume: SYF, WY, MNK, NSC, HTZ, HZNP, DF, JNPR, WTW, APA, M, GE, CSX, WMAV, RF, YOKU, VRX

Watch List Longs: GE, WFC, JPM, DIS, MCD, HD, VLO, PNC, C, EBAY, DD, ADBE

Watch List Short: wmt, bhi, kss, axp, cvs, tgt, akam, m, wynn, qcom,

Inside days: schw, qcom, nvda, dis, pg, abbv, dow, kr, yoku, mo, abt, brcm, symc, duk, dvn, pgr, txn, swks, bby, lly, oxy, bmy, eog, adsk, etfc, hca, ups, cyh, amgn, ip, lrcx, bhi, mdvn, sbh, klac, hog, lltc, adbe, vmw

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