Free Scan Sunday: Stocks to Watch for Monday August 5, 2019

by | Aug 4, 2019

We keep signing up a bunch of fantastic speakers for Las Vegas Traders4ACause! Going to be a great time also make sure if you are planning to come it's not just Saturday and Sunday get out of town we actually do a lot Sunday morning including breakfast, smaller group break out sessions and a lot more 1:1 or small group discussions. So, make sure if you're leaving Sunday it's later on.

Here is the sign up link! Traders4ACause

Last week I probably traded way more than I needed to. There was a ton of opportunities mainly TWOU which I friggin' knew at $23 that $15-17 was coming but yet didn't go for it same with GLUU and WLL but typically I look for an edge to get involved and unfortunately they just pulled the bids right at open and that was that. So, tons of opportunity but really had to zone in on what was worthwhile and what wasn't.

RHE was a nice momentum trade both ways - off the news in the AM which was pretty meaningless -- sold assets and used it 100% to pay down loans so zzzz why is it gapping that much? got borrows early but wasn't aggressive enough.

My goal this week will be to focus on a bit less

There were a lot of fantastic moves but trade was VERY thin. With that said - we need to be prepared if trading on the front side of a move to have ZERO bias and just lock around a core on any flushes/break outs.

Video Scan and Game Plan

Stocks to Watch

APHA really nice volume and big change on the daily - we could be going straight into chart resistance into the $7.50s + if so I'd expect it to have to consolidate around that level for a bit before going any higher so any shorts I take I will be using that as a guide. Higher better and look for failed follow through. If we open .20-.30 lower and consolidate & perk towards r/g I'd use $7 as a guide and anticipate $7.50 rush for sell.

TWOU so far that $14.20 levels we've discussed all week is the big area that has failed many times. This can easily turn into a HOME situation where it just keeps unwinding lower and lower. For now assuming it fails until $14.20s +/- firms up and holds a few times.

ACOR relatively aggressive trend join based off market conditions at the moment - on a regular day I likely wouldn't have taken the trade that I spelled out Friday shorting strength vs. VWAP given the range it had already come in but lately WLL GLUU etc - we area just in the market of some serious unwinds so if they haven't flushed out but are remaining heavy I will join until they flush into anticipated range (in this case it was $2.80s goal which ended up being low before the big rally) I'd be looking to fade any large strength off open

NWL right into chart resistance looking to join 945-10AM + trend - gap over $15.50s likely meet some resistance if we get over the $16s level short term I'd expect next leg on chart given breaking resistance but for now I'd treat it like the OSTK trade we've been discussing or TWOU etc. Assume it'll have issues there until confirms otherwise.

SE monster breakout Thursday and then came in hard with the market but despite market coming in Friday this thing didn't care and pushed on 52 week highs. Higher better - earnings later in month. Has plenty of time to hang around but few fails in this range, just waiting for see that failed follow through momentum to join trend until then assume break out.

SLDB current swing waiting for a break out over May resistance to scale any

SMSI still swinging as well low $5s ideally get some spots to scale a bit more over the next few weeks but not looking to over load yet given goal is a quarter long trade.

GLUU reactive trade off open - trend join 945-10AM +

NTNX nice unwind happening I could see this thing flushing out and then closing relatively flat same day

SGMS big save - may have been Greenlight Capital in there again along with CC scooping the dip but watching weak open and break out over $21s + if it would go it's going to be a $22-23 + move and I'd love to be part. I was long on Friday but was a tough trade given the dips. It's possible we had a big intraday squeeze ONLY and if that's the chase watch vs. $20.50s resistance

PINS I think we have a $1-2 move coming just need to wait for the set up - nice range Friday but difficult if not covering on flushes.

0 Comments

Submit a Comment

Your email address will not be published.

Related Content

15 Trade Management Tips to Improve Your Trading

15 Trade Management Tips to Improve Your Trading

Trade management is an important part of the trading process. It's not enough to have an effective strategy - you also need to execute that strategy properly. Think of this distinction as the difference between creating a well-rounded business plan and actually...

Adapting to the Market - 8 Practical Tips for Traders

Adapting to the Market - 8 Practical Tips for Traders

The stock market is constantly changing. If you are fortunate enough to find success as a trader, you shouldn't get too comfortable. A strategy that works for days, weeks, or months is not guaranteed to work forever. Career traders who achieve long-term success...

14 Tips to Improve Your Trading Mindset

14 Tips to Improve Your Trading Mindset

Your mindset is an important part of your trading. How you think will impact how you trade. Your mindset will ultimately determine what you focus on, how well you learn, how you react to trades, and so on. Today, we are going to discuss some quick tips to help you...

The Process Behind Trading Success - Nate Michaud on SimCast

The Process Behind Trading Success - Nate Michaud on SimCast

https://www.youtube.com/watch?v=yaHEIFvHh5g Topics Discussed Long Trading vs. Short Trading (and Where Nate Makes More Money) Using a "Macro Mentality" in Trading Scaling in and Out Around a Core Being Early vs. Being Right Why Day Trade vs. Invest? Finding The Best...

Trading Insights from Career Traders - Interview With Nate and Cody

Trading Insights from Career Traders - Interview With Nate and Cody

Topics Discussed How Veteran Traders Manage and Deal With Losses The Role of Discipline in Trading and Life When to Trade & When to Take Breaks Adapting to Changing Market Trends (Figuring Out What Works) Recognizing Your Strengths and Weaknesses What Contributes...

13 Tips to Minimize and Prevent Trading Losses

13 Tips to Minimize and Prevent Trading Losses

How much higher would your trading profits be if your losses were cut in half? How much higher would they be if you only lost half as frequently? Most traders focus on chasing profits and forget that minimizing losses can have the same net impact on your bottom line....