First I will review all open holdings. Second I will post stocks ready for action. Third I will go thru all the requested stocks from friends & followers. Then I will post the markets, holdings & order screen. The last thing I will go over is the game plan for tomorrow! There was some churning out there today so caution is warranted. Don’t chase stocks let them set up again some will need pull backs & other need time corrections. Be patient! Click on the charts to enlarge them & to see the notes. Enjoy!
All charts are provided by www.marketsmith.com
Review Of Open Holdings:
Another new high out of this stock nothing to do but sit on it & let it do its thing. Leaving stop alone.
Didn’t close above 81.10 but that’s not a big deal as sell volume is much lighter than buy volume. leaving stop alone.
Closed below the 48.01 break out pivot. Sell volume picked up but still much lighter than buy volume. This stock needs to digest the big move it just had. Leaving stop alone.
Stock failed to stay above the high from 5-13. Looks like it wants to build a handle for this cup. Leaving stop alone.
Broke out to new highs on strong volume. Leaving stop alone.
Still breaking highs on good volume everyday. Leaving stop alone.
Broke an all time high today. Leaving stop alone.
This stock had follow thru w/ low volatility compared to other break out stocks. Volume was good. I’m leaving stop alone.
I bought on the open at 154.12 per yesterdays trade plan. I put my hard stop at 147.45.
Hit a new high & closed red on lighter volume stock is consolidating at the highs.(resting) Leaving stop alone.
Stock had a tough day big sell volume rolled in & almost gave back the entire move from yesterday. Still sitting above break out pivot. I sold 1/2 on the open per my rules & outlined in yesterdays trade plan. I moved the hard stop on the other 1/2 to 37.70 (my cost) to protect my cost. Never let a profit of 1.5(R) turn to a loss.
Bought on open per yesterdays trade plan I only got a partial fill so I canceled order & waited until stock traded a little to finish buy the position. I place my hard stop at 29.95
Held up very well today & had good buy volume. Leaving stop alone.
Stocks Ready For Action:
this bank stock looks great to buy on open w/ a hard stop at 48.45
Needs to break over 65.40 to trigger a long trade. If it does hard stop goes 59.95
This one broke out of a 121 day base. You know what they say the bigger the base the bigger the break out. Hard stops go in at 18.50
Broke over its first level of resistance w/ heavy volume next pivot to break over is 25.69 a new 52 week high. Its a buy on the open W/ hard stop at 23.75
There are so many stocks that triggered or close to triggering that I cant play them all or post them all! What I will tell you is that Bull Markets can make you greedy because you want action on all the good looking set ups. I mean who wants to miss a move! So you need a plan so you aren’t over loaded with to many names. You need discipline & you need to keep the emotions out of the game. Greed, Fear, Pride, Hope & EGO have no place here this is a business & a tough one at that. So follow your own plan If you don’t have one start building one it. It took me many years to develop my plan. If your testing some else’s plan test it small or simulated. The markets will always be here make sure you will be as well. Don’t blow yourself up & then blame other for your laziness to develop a plan. Would you start a Brick & mortar business with out a game plan. Winging it never works in any business.
Requested Charts From Friends & Followers:
over extended if long check my notes if not better look for another one imho
bull flag looks great if it breaks out of flag. always move stops up to protect cost on winners & protect capital
This looks like a great R/R and I am adding it to my ready for action list
read note on chart
I used a tradestation chart here to show you the move in the after hours over 92 a share after the mix shelf offering was announce. In the offering Elon Musk is buying 100 million worth of stock. If you follow me on Stocktwits you know Ive been warning people about going short! Its like stepping on the tracks with a fast moving train coming at you do you think it will stop just for you #ROADKILL. I’ve also said that in a bull market secondary’s have been rocket fuel for stocks!
Head & Shoulder Pattern forming bounce intra day from 420 area needs to hold 420 & then break the neckline at 470. Don’t try to be early here unless you are day trading or scalp trading. Its like going to a party 5 hrs before it starts. By the time the party gets good your beat & that’s if the party gets good. What if no one shows up? You just waste time money & energy! Like Jessie Livermore use to say it wasn’t the thinking that made me the money it was the waiting!
Going to 1000 IMHO but if you don’t have some w/ a cushion better to wait. this company has so many thing going for it right now
Not going any where yet
Going higher. If you look at my tweets from a few weeks ago I lost $$ trying to catch a top. The reason I was shorting the $ES_F was because we were at a multi year top. I traded what I Thought not what I saw, but when you see a break out to all time high in the markets & low volatility. you have to trade what is happening!
$COMPX Nasdaq 2013
Here is the current state of the market below I posted a chart of the Nasdaq in from 1998 to 2000 to show you what can happen when markets break all time highs & what it looks like when the personality of a market changes. It went from orderly to volatile. But before crashing it killed 90% of the bears
$COMPX Nasdaq 2000
Please comment I would love to hear thoughts on the comparison.
My Holdings & Orders:
If you go thru my orders you will se that I did 2 day trades
1. in the $ES_F a quick scalp trade it last 5 min for +1.75. I used a trialing stop which took me out fast causing me to miss 7 to 8 points of upside. The thing with day trading is you have to be ok with missing out otherwise it will eat at you soul.
2. I day traded $aapl calls that expire on Friday for a 30 min trade I made 30%. Now I risked every dollar I put in that’s how call options work for me so I kept trade / risk at a fraction of what I would risk on a swing trade. The reason I took that trade was it stopped going down at the 420 support area & the market depth was heavy on the buy side. Learning to read the tape is important for day trading (Im far from being a master at it but im getting better with practice)
The Game Plan
Tomorrow I am going to sit on my hands unless I shake lose a position even thou there are some nice set ups I have to follow my rules. I might swap one stock out for a better performer, but I will have to wait and see how the pre market is shaping up!
Please DO NOT follow these trades blindly this is my game plan & I know my risks. Do your own Due Diligence! Trading involves many risks. I post this for myself to get better & to learn from when I am wrong. I believe that mistakes are only made by not following your written trade plan. If you don’t have a written plan then every trade you make is a mistake IMHO. Losses are part of the game & a loss isn’t a mistake if you followed your plan. Please see my Legal Disclaimer http://yobronomics.com/disclaimer/
Contact me if you have any questions.
Michael J Zoitas
AKA YO BRO
Follow me for real time entry & exits with screen shots of charts, orders, & holdings at
Plan your trades & trade your plan! Failure to plan is planning to fail!
All charts are provided by http://www.marketsmith.com