Day traders are finding success with a smaller group of stocks this year.
The stock market is offering opportunity, but focus is the key this year. Scanning hundreds of stocks (that match your criteria) should always be a part of your daily routine. But the amount of those stocks you actually create a game plan for, should be targeted.
The two methods for a targeted game plan are: the same group of stocks every day or the same sectors. Sector rotation is the winner for me this year. The trends have not lasted that long, but when you dig them out, they were obvious and profitable.
Let’s have a great week before turkey day…
Stock Market Today: Map of the S&P 500
(click the map for a full view)
Each time the SPY gets closer to the $210-211 price range, the odds for follow-through diminish. This price action should be forcing you to get stock specific to set up trades with better reward potential.
(click the chart for a full view)
- Commodity stocks in play today.
- Retail and consumer related stocks finding buyers.
Charts in Focus
A dead-cat bounce in DKS sets up a short-sale. A higher opening into resistance sets the stage.
(click the chart for a full view)
Stocks to Trade 11-23-15 | Crude Oil Tumbles
Relative strength yesterday compared to the SPY negative change from the open: VIPS, VRX, ANF, NFLX, JD, SRPT, HZNP, HD, YELP, LOW, TJX, LULU, GPRO, KSS, AET, HCA, URBN, DKS, FEYE, AMBA, CTXS,
> 20sma | positive week | closed 2% higher from the open: VRX, ANF, NFLX, HD, LOW, LULU,
<20sma, negative last 5 days and closed 2% lower from the open: rrc, fit, cf, lvs, etp, paa, mos, wynn, cog, mur, mdvn
Bullish Ideas ATR/Volume/Price: SRPT, NKE, LOW, NFLX, HD, GOOGL, CTRP, VLO, AMZN, FB, AMT, ACE, NSC, CRM, MMM, COST, BA, ADBE, WTW
Bearish Ideas ATR/Volume/Price: cf, fit, akam, wynn, mdvn, lvs, apc, wba, cvs, celg, mbly, skx, wdc, m, stx, tgt, jwn, scty, dg, qcom, dks
Weak Stock Weak Close: sm, ar, cf, paa, fit, rrc, etp, wynn, mos, pot, mdvn, wmb, lvs,
Strong Stock Weak Close: WTW, INTU
Weak Stock Strong Close: dks, dsw, feye, gpro, urbn
Strong Stock Strong Close: NFLX, INFN, ANF, JBL, HD, LOW
20 day Breakdown: akam, paa, ctl, cf, adm, atw
20 Day Breakout: GE, INTC, ANF, CSX, SRPT, DIS, HD, YELP, LOW, PPL, CLDX, HOG, NSC, GTAFL, GOOGL
2x Normal Volume: GE, PFE, VIPS, VRX, ANF, SYF, CSX, GPS, SRPT, NKE, CDNS, ADM, FL, ROST, YELP, AKAM, INTU, CF, A, DKS
Watch List Longs: HD, BMY, GE, VLO, DIS, SBUX, JNJ, TRV, HON, COST, USB, WFC, INTC, EBAY, LOW, DOW, LUV, ADBE
Watch List Short: adm, cvs, bhi, tgt, hal, axp, m, akam, qcom, ntap, wynn, lvs,
Inside days: pfe, yhoo, schw, bby, myl, abbv, gild, v, kr, mdt, tsm, tsm, gmcr, ctrp, a, hca, dd, pypl, esrx, bidu, ual, acn, ntap, rax, eog, amgn, expe, cah, vyh, thc,
swks, wtw, csiq, amtd, biib,
Oil tumbles as strong dollar, oversupply weigh on investors
Oil prices fell on Monday, dented by the rise in the U.S. dollar to seven-month highs, and analysts see more losses triggered by the mismatch between global supply and demand.
The fall was part of a wider decline in commodities that has also been stoked by worries over faltering demand from China, with prices for base metals such as copper and nickel tumbling. However, speculators have turned increasingly negative on crude.
U.S. West Texas Intermediate (WTI) crude futures CLc1 fell $1.26 a barrel to $40.64 a barrel by 0418 ET. The contract broke below $40 on Friday for the first time since August.
Continue reading on reuters.com