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Using News To Form A Superior Watchlist
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jimb

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Subject : RE: Using News To Form A Superior Watchlist
Posted : 11/17/2010 7:58 AM
Post #5523 - In reply to #5513

Jeff,

Just FYI - Tomorrow I tentatively plan to take off. So most likely, the nest post will be on Friday morning. Perhaps you want to post pre market info to benefit others.

Below is pre market info for your use.

Wednesday, November 17, 2010, good morning
Economic Reports
7:00am USD US - MBA Purchase Applications
8:30am USD US - Housing Starts
8:30am USD US - Consumer Price Index
10:30am USD US - EIA Petroleum Status Report

Notes:
8:00am FOMC Member Rosengren Speaks
9:15am FOMC Member Bullard Speaks

Gap stks - AKAM BIDU CHS DGW DKS HGSI POT RIMM SINA SLW SYNT TGT TSL
SUB gap stks - AVNR JASO RINO STP STV
Solar energy appears under some degree of downward pressure - CSIQ FSLR LDK YGE (already listed above as gap stks - TSL JASO STP)

Foreign Markets
Asia - mostly down
Europe - slightly up

Domestic Markets - slightly up - up 0.03% to 0.14%

Good luck.

Regards,

Jim B.



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jmishlove

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Subject : RE: Using News To Form A Superior Watchlist
Posted : 11/17/2010 12:57 PM
Post #5524 - In reply to #5523

Jim,

Once again, thank you for your generosity in posting so much information to the forum. I'm sorry that I have been so slow to respond. There are a few reasons for this. For one, I have been preoccupied working out various technical glitches with Visual Trader. (I discovered, for example, that when I set a 3 ATR stop loss in the orders window of the trade plan, but did not make the change in the sidebar window on the right, I was not getting the expected result -- but rather the 2 ATR default.)

And, the new computer (a Toshiba laptop) that I recently purchased developed a faulty sound card -- it was constantly making a high-pitched noise that I could not stop. So, I returned it to the dealer and purchased a different one (Samsung laptop with an I5 processor). Much of my time was taken up reconfiguring the new system.

But, I have to say that probably the main reason I am not as responsive to your solicitation for feedback as I would like to be is that I am still, also, focusing on the emini trades -- particularly the TF contract.

Perhaps, it would be useful to share how, in my own mind, I am comparing these two strategies -- Earnings Map stocks vs. the TF contract. I know you have pointed out quite clearly that by trading 1000 shares of a stock that moves $1.00, you are able to earn a nice income of $1,000/trading day.

As for myself, I am still paper-trading -- so I am not earning anything yet. However, my philosophy is that if I can reliably gain a single point on the TF contract (x 10 contracts), I will also earn $1,000 for the day. And, that can be done by executing a single (15 min) trade. It's a trading style that requires me to wait patiently, like a sniper, until I see an excellent setup -- then pull the trigger.

The reason I am paper-trading, of course, is that I am still in the phase of trying to convince myself that I can do this reliably. In a robust market, it seems to work well (with about 80% accuracy). On a day like today, however, the market has been less than robust -- and I think it might be wiser to go for less than a full point on each trade. Or, perhaps, today would have been a better day to trade NQ rather than TF. Or, as you have suggested, this could have been a day for trading based on the Earnings Map -- with stocks that are "on their own page."

As I have previously mentioned, the added incentive for me in trading the eminis is that I can use my Roth IRA -- where the earnings are tax free, and where I can go long and short on futures contracts, but not stocks.

Another issue for me is that I think my reflexes are relatively slow. For that reason, I suspect, I am gravitating toward the idea of focusing on a single contract -- setting up a careful trade plan in VT and just waiting patiently to pull the trigger.

I find myself getting flustered, in the morning, looking at the Earnings Map, and trying to figure out which stocks to trade and how to get in when a number of them are showing volatile movements all at once. So far, it's only with hindsight that I am able to look back and see which stocks might have been good for me to have traded. However, I am sure that this is a skill that improves with practice. And, I am still just learning basic, day-trading habits.

Although I have been trading for over 10 years, I regard myself as a novice as a day-trader. And, I know that I can learn a great deal by paying attention to the guidance you are offering to the entire Visual Trader community.

So my intention is to continue studying your approach, as best I can, and to continue to comment on the forum here as time allows. However, as I am continuing to emphasize futures trading, these comments may be somewhat intermittent.

Jeff


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jimb

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Subject : RE: Using News To Form A Superior Watchlist
Posted : 11/17/2010 10:33 PM
Post #5526 - In reply to #5524

Jeff,

Thank you for sharing your activities, and thoughts.

An old trading buddy who was a pro trading for a living had a theory that all trading is really information management. Let me share a couple of things that may help manage the information coming at you in the mornings. It is realized that you may already have systems devised that are better than these offered, and if so, I would appreciate learning from you.

How do you capture the information from taking the recommended look at 2 min after market open for stocks that are moving well? My approach is to capture in a chart layout the best four of stocks moving down, and ditto for stocks moving up, Do all eight stocks offer great plays? Heck no, but today four of them offered decent plays as shown in the attachments. I try to not select stocks that have already been identified, and are already in the VT watchlist. I also usually forego stocks less than $10.

How do you look at the watchlist stocks? If you do not yet have a bunch of monitors/displays where many charts are immediately available at a glance, it is suggested that chart layout again be employed to make this task simpler. You might have three such WL layouts, which are simply sequentially populated with stocks in the VT WL. See attachment titled WL 1. What happens if you have more than twelve WL stocks? Just look at the first four, or twelve if trying to keep track of all three WL layouts. Try focusing on only one WL layout for a while, perhaps with occasional glances at the other two WL layouts.

The day trading layout (see attachment) helps me quickly evaluate candidates in multiple timeframes. I believe Nirvana recommended such a layout in some of their training materials. I also used such a layout (pre use of VT) when using TradeStation as my primary trading platform. It is recommended that the layout be given a try.

The above is simple stuff. But it has often amazed me how much some simple, obvious stuff has helped me, once it was pointed out. So no offense is intended, and it is hoped that this helps prevent/reduce information overload at market open.

Also, good luck with your index futures trading. I was thinking of you yesterday when there was such a nice, easy to trade, decent move down.

Regards,

Jim B.

Attached file : 101117 2m Dn Look 5m chart for day.pdf (22KB - 306 downloads)
Attached file : 101117 2m Up Look 5m chart all day.pdf (23KB - 270 downloads)
Attached file : 101117 2m Up Look info capture.pdf (34KB - 275 downloads)
Attached file : 101117 5 min charts - AKAM & BIDU.pdf (33KB - 241 downloads)
Attached file : 101117 Market Overview.pdf (95KB - 330 downloads)
Attached file : 101117 Pt 1 earnings stks for week 1d 5m microcharts.pdf (47KB - 251 downloads)
Attached file : 101117 Pt 2 earnings stks for week 1d 5m microcharts.pdf (17KB - 251 downloads)
Attached file : 101117 SUB earnings stks for week 1d 5m microcharts.pdf (41KB - 254 downloads)
Attached file : 101117 WL 1.pdf (36KB - 268 downloads)
Attached file : 101117 2m Dn Look info capture.pdf (35KB - 270 downloads)

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jmishlove

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Subject : RE: Using News To Form A Superior Watchlist
Posted : 11/17/2010 11:56 PM
Post #5527 - In reply to #5526

Wow! Multiple monitors. Great idea.

I'm pretty sure I can attach a large HD screen to my new Samsung laptop computer. That might make a big difference. Thanks for the suggestion, Jim. It actually had not really occurred to me. And, I think it might be just what I need to really get comfortable with the Earnings Map approach. It seems rather obvious now that you explain it. But, it hadn't actually occurred to me before (other than noticing, in passing, that many traders do use multiple monitors).

At the moment, I have five computers in my trading office. But, I can only get OmniData on one computer. And, I believe I can only access my brokerage account on one computer. So, without different, real-time data feeds for each computer, multiple computers are not that useful.

So, I think I could do a lot more with an additional, large HD screen (and, I believe I have an extra one around here). That makes a lot more sense to me than trying to keep several different computers going at once.

Jeff
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Subject : RE: Using News To Form A Superior Watchlist
Posted : 11/19/2010 11:12 AM
Post #5528 - In reply to #5527

This morning, I have added a additional Samsung monitor to my Samsung laptop. It's about 30".

I've discovered that it allows me to clearly display a lot of data for TF trading that I couldn't see all at one time before: net ticks, net volume, and net issues (all for Russell 2000); pivot points; a large chart of the emini itself; plus cylinders for the largest 250 of the Russell 2000.

I really like this setup for emini trading.

Now, the trick will be to add the Earnings Map on to my current Profile -- so that I can keep an eye on those stocks. I guess I can either add yet another monitor -- or simply make everything smaller on my new, big monitor.

I'm just going to work through this slowly, as I realize that every little adjustment I make to the trading setup also requires something of a psychological adjustment on my part -- as I need to feel completely comfortable with the tools I am using. Today, for example, I am using the VT volatility breakout transform for the very first time -- as well as the volatility breakout strategy (recommended for eminis in the "Making Money with Visual Trader" DVD). So far, the paper-trading results are pleasing -- even on a relatively quiet morning like today.

It's possible that at the end of the day (so to speak) I may simply trade the emini and not stocks at all. However, I plan to continue studying the Earnings Map. And, I must say that the suggestions by Jim to pay greater attention to market internals, get an additional monitor (and many other trader tips) have been quite helpful to me.

As a novice day-trader, I can say that I'm really pleased with the level of help and support that I've found here on this forum -- and I trust that these discussions will also be valuable as a record for those who may view them in the future.

Jeff
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jimb

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Subject : RE: Using News To Form A Superior Watchlist
Posted : 11/19/2010 10:13 PM
Post #5529 - In reply to #5528

Jeff,

As it worked out, I took both yesterday and today off from trading.

Good to hear that you are progressing nicely in your day trading. Having more (and/or better) monitors actually reduces the mental workload. Another thing you may be interested in is to make paper mock-ups of the additional information you think might aid in your trading, add them to your current information displayed, and get a feel of how the additional info will complement what you are currently using. A second step might be to use one (or more) of your extra computers to actually display the new info, or some alternative close to it from a surrogate (and hopefully free) source.

I have been simplifying my trading configuration for more than four years, and like you indicated, it is a slow, evolving process. Even the long term improvements often reduce daily profits in the short run.

However despite the desire for simplicity, I am a big fan of having redundancy in one’s trading configuration. For example, two internet providers, multiple data services, at least some spare computers loaded with trading software, and etc... I probably have over-kill in my configuration, but it makes me feel better, and has allowed continued trading a number of times over the years during unexpected events. Also it is good to have some plans about how to use trade resources in different situations. No matter how smart a person is, pre-planned solutions are most always better than reacting by the SOTP (Seat-Of-The-Pants) methodology.

I did an incomplete job of posting Wednesday’s wrap up. One thing added in this post is that the solar energy move identified Wednesday in the pre market was first noticed by all three solar stocks in the earnings map moving down pretty much the same. The next step was to quickly check on solar stocks not in the map, and as you may know, they were found to also be moving pretty much as the three first looked at. The group correlated moves add a degree of safety, and is likely institutional money flowing out of, or into, the group stocks. Another thing added are quad charts of some of the other stocks identified in the pre market.

Micro charts for the week are attached for the earnings stocks,

With the holiday next week, the attached earnings map is smaller. Plus earnings season is getting a little long-in-the-tooth. However, there is usually good money to be made around the holidays. The lower overall volume, attributed to the institutional investors taking the week off, often contributes to price action volatility, which is easily traded in many cases.

Regards,

Jim B.


[Edited by jimb on 11/19/2010 10:27 PM]

Attached file : 101122 Earnings Map For Week.vtp (388KB - 222 downloads)
Attached file : 101119 Pt 1 earnings stocks for week 5d 15m microcharts.pdf (47KB - 279 downloads)
Attached file : 101119 Pt 2 earnings stocks for week 5d 15m microcharts.pdf (17KB - 263 downloads)
Attached file : 101119 SUB earnings stocks for week 5d 15m microcharts.pdf (41KB - 237 downloads)
Attached file : 101117 Solar 1 Quad Charts - 1d 5m charts.pdf (30KB - 263 downloads)
Attached file : 101117 Solar 2 - 3 1d 5m charts.pdf (36KB - 244 downloads)
Attached file : 101117 Quad 1d 5m charts - DKS HGSI POT RIMM.pdf (43KB - 231 downloads)
Attached file : 101117 Quad 1d 5m charts - SINA SLW SYNT TGT.pdf (41KB - 252 downloads)

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jmishlove

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Subject : RE: Using News To Form A Superior Watchlist
Posted : 11/21/2010 12:12 PM
Post #5534 - In reply to #5529

Jim,

I have never seen these micro charts before. They are fascinating. A lot of information all there at a glance. I did a Google search on "micro charts," but was unable to locate the particular system that you used. Can you provide a link or a reference?

Thanks,
Jeff
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jimb

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Subject : RE: Using News To Form A Superior Watchlist
Posted : 11/22/2010 7:51 AM
Post #5535 - In reply to #5534

Jeff,

The microcharts are from one of my brokers, TDAmeritrade.

Glad you like them.

Regards,

Jim B.
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jimb

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Subject : RE: Using News To Form A Superior Watchlist
Posted : 11/22/2010 7:55 AM
Post #5536 - In reply to #5528

Jeff,

Today's pre market info follows:

Monday, November 22, 2010
Economic Reports - none

Gap stks - ARBA ASML BHP CRUS FRO GMCR HGSI MEE RIO SNDK TSN
SUB gap stks - BRCD CLDX CTRN EDAP

Foreign Markets
Asia - up
Europe - mixed

Domestic Markets - down -0.17% to -0.29%

Regards,

Jim B.
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jmishlove

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Subject : RE: Using News To Form A Superior Watchlist
Posted : 11/22/2010 11:06 AM
Post #5538 - In reply to #5536

Thanks, once again, for this information, Jim.

I'm glad to learn about the microcharts. I have accounts both with TDAmeritrade and Think or Swim. So, I hope to locate them for future use.

Incidentally, this morning, I decided to listen and watch the ShadowTrader.net "squawk box" market commentary. You are the one who introduced me to ShadowTrader.net, so thank you for that. The focus on market internals is particularly interesting.

Jeff
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Subject : RE: Using News To Form A Superior Watchlist
Posted : 11/22/2010 1:37 PM
Post #5541 - In reply to #5526

With regard to the previous discussion in this thread concerning the relative merits of trading the index emini (or ETFs) vs. stocks, I came upon a decisive comment from Ed Downs over the weekend. I was reviewing an old Trader's Library audiotape of Ed called "Trading the Moves" (with PowerPoint slides that were downloaded from the Trader's Library website). The following slide expresses Ed's opinion clearly:



I must say, however, that so far my paper-trading of the TF contract seems very encouraging, and I feel quite positive about the eminis. But, I am aware of the potential for self-deception here. For example, one of the reasons I feel so encouraged is that in almost every case when a paper-trade goes bad, I am able to go back and analyze the trade and see that some obvious mistake was made.

Typically, these mistakes have involved trading too close in front of one of the nine intraday reversal times specified by JimB in an earlier thread some years ago. (In fact, I have reread that thread and related ones and find the intraday reversal times to be extremely useful -- thanks, again, Jim. This is also testimony to the archival value of this forum.)

Other glaring paper-trading mistakes seem to involve entering trades that contradict the signals from various indicators.

But, here's where I realize that self-deception can play a role in paper-trading: I am not analyzing the successful paper-trades in the same way. For all I know, in retrospect, they may have also suffered from similar problems.

In any case, I do not intend to trade with cash until I know that I can paper-trade successfully without making what seem to me to be avoidable, human mistakes. So, if self-deception is involved, I plan to find out -- before any serious money is risked. And, at the moment, I feel that I can continue to explore my capabilities as a paper-trader very patiently -- taking whatever time is needed.

Jeff

[Edited by jmishlove on 11/22/2010 1:42 PM]

Attached file : StocksAreBetter.PNG (49KB - 991 downloads)

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jimb

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Subject : RE: Using News To Form A Superior Watchlist
Posted : 11/22/2010 5:45 PM
Post #5551 - In reply to #5538

Jeff,

Attached are all earnings and gap stock charts for this mornings trading, mainly for historical purposes. Early morning trading was excellent, as usual.

Previously it has been mentioned that when studying near the computers, relatively loose alarms are set with catching big moves as a goal, and without (avoiding) frequent interruptions. Today there were several nice plays that the alarms drew attention to. MEE was the best, and it also involved use of the (TTM like) squeeze indicator, which you have been interested in. I set the alarms by eye, with an attempt to loosely enclose current price action AMC today it was attempted to show where alarms were set this morning, and the attempt is considered close enough.

See the attachment showing where to display the microcharts - titled microcharts selection.

Regards,

Jim B.

Attached file : 101122 earnings stks 1d 5m microcharts.pdf (21KB - 237 downloads)
Attached file : 101122 Earnings stks for this AM - TECD TSN VAL.pdf (37KB - 242 downloads)
Attached file : 101122 gap & earnings stk - TSN.pdf (13KB - 238 downloads)
Attached file : 101122 gap stks - AHGSI MEE.pdf (32KB - 258 downloads)
Attached file : 101122 gap stks - ARBA ASML.pdf (34KB - 228 downloads)
Attached file : 101122 gap stks - BHP CRUS.pdf (31KB - 249 downloads)
Attached file : 101122 gap stks - FRO GMCR.pdf (33KB - 247 downloads)
Attached file : 101122 gap stks - RIO SNDK - note suggested entry.pdf (50KB - 246 downloads)
Attached file : 101122 Market Overview.pdf (95KB - 292 downloads)
Attached file : 101122 MEE Squeeze Play.pdf (617KB - 248 downloads)
Attached file : 101122 microcharts selection.pdf (22KB - 252 downloads)
Attached file : 101122 Mkt Srrogates 5m daily quad chart.pdf (43KB - 218 downloads)
Attached file : 101122 SUB earnings stks 1d 5m microcharts.pdf (21KB - 225 downloads)
Attached file : 101122 SUB earnings stks for this AM - CTRN CYBX.pdf (33KB - 227 downloads)

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jimb

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Subject : RE: Using News To Form A Superior Watchlist
Posted : 11/24/2010 7:58 AM
Post #5562 - In reply to #5538

Jeff,

Below is pre market info for your use:

Wednesday, November 24, 2010
Economic Reports
7:00am USD US - MBA Purchase Applications
8:30am USD US - Jobless Claims
8:30am USD US - Durable Goods Orders
8:30am USD US - Personal Income and Outlays
9:55am USD US - Consumer Sentiment
10:00am USD US - New Home Sales
10:30am USD US - EIA Petroleum Status Report
12:00pm USD US - EIA Natural Gas Report

Gap stks - AMZN BBD BIDU DE DECK FFIV FRO GES GILD ORCL TIF TSTC

Foreign Markets
Asia - down
Europe - slightly up

Domestic Markets - up 0.58% to 0.86%

Regards,

Jim B.
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jimb

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Subject : RE: Using News To Form A Superior Watchlist
Posted : 11/24/2010 5:04 PM
Post #5567 - In reply to #5562

Jeff,

An end of day summary follows:

Previously in some similar postings, all gap stocks and earnings stocks were included in EOD feedback. There were two main reasons for being so inclusive: 1) historical relevance of the thread was considered as being improved, and; 2) it provided a glance at more types of price action these plays offer to traders (it was realized that posts several years ago, and even earlier in this more current thread were weighted to my favorites, and that other traders might prefer other types of price action).

Today’s post market feedback is different yet. It is intended to show samples only for how different screening approaching in the pre market hours provide equally as good, or better candidates, than what I have previously shared. Extracts are provided of this mornings Group chat in which an insight into different approaches can be seen. Only a few sample charts are included for today.

But it can also be easily seen that on this low volume day before a national holiday, candidates offered five figure profits for those knowing how to play these setups.

My two favorite trades were AMZN and CREE. CREE was not in my map until another Group member posted it in chat. Both stocks allowed entries almost as soon as the market opened, and accelerated nicely thereafter.

Another decent money maker posted in chat by another Group member was LVS. LVS was in my map, but had not drawn my attention.

Hope this info proves of interest.

Regards,

Jim B.

Attached file : 101124 Group Pre Market Chat Extract.doc (28KB - 242 downloads)
Attached file : 101124 - 101123 PM AMC earnings stks - GES JCG.pdf (33KB - 235 downloads)
Attached file : 101124 AM BMO earnings stks - DE FRO TIF.pdf (40KB - 217 downloads)
Attached file : 101124 earnings stks for week 1d 5m microcharts.pdf (19KB - 221 downloads)
Attached file : 101124 SUB earnings stks for week 1d 5m microcharts.pdf (21KB - 220 downloads)
Attached file : 101124 gap stks - AMZN CREE.pdf (42KB - 230 downloads)
Attached file : 101124 Market Overview.pdf (94KB - 243 downloads)
Attached file : 101124 Mkt Surrogates Quad Chart.pdf (40KB - 287 downloads)

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Subject : RE: Using News To Form A Superior Watchlist
Posted : 11/26/2010 8:04 AM
Post #5569 - In reply to #5541

Jeff,

Below is pre market info for your use:

Friday, November 26, 2010, good morning
Economic Reports
4:30pm USD US - Money Supply

Gap stks - BHP BIDU CCL CROX FCX FRO GOLD HPQ INTC LVS ORCL SLW SVNT TTM
SUB gap stks - BRCD

0826 EDIT - added gap stks from another Group member: SLT, GFI, PHG, and BCS breaking down below base on the daily


Foreign Markets
Asia - mostly down
Europe - down

Domestic Markets - down -0.79% to -0.84%

Rather trade than go to black Friday sales.

Good luck.

Regards,

Jim B.


[Edited by jimb on 11/26/2010 8:28 AM]

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Subject : RE: Using News To Form A Superior Watchlist
Posted : 11/26/2010 5:29 PM
Post #5571 - In reply to #5541

Jeff,

As you may know, there was relatively good money to be made in today’s abbreviated trading session. The market was only open from 0830 to noon (CST) in the attached charts. Selected charts are shown using the Squeeze Template to allow a better view of price action, and to show some example squeeze plays that worked well, and some not so much. TTM seemed to be the best play today, providing about a $2 move up, and then down, from which most of the moves was easily captured as profit.

Hope you were able to enjoy this morning’s trading, be it paper – green or white.

Also attached is an earnings map for next week.

Another reason for using the Squeeze Template was so that examples could be pointed to in your recent squeeze post. I thought a short description in your thread might be appropriate to let more forum members know more about what the squeeze is, and why it might be of interest to them.

Wish you, and all, a happy Thanksgiving weekend.

Regards,

Jim B.

Attached file : 101126 earnings stks 1d 5m microcharts.pdf (19KB - 216 downloads)
Attached file : 101126 SUB earnings stks 1d 5m microcharts.pdf (20KB - 224 downloads)
Attached file : 101126 Market Overview.pdf (93KB - 235 downloads)
Attached file : 101126 LVS WLP STT BIDU Quad Chart - Squeeze Template.pdf (109KB - 248 downloads)
Attached file : 101126 Market Surrogates Quad Charts.pdf (112KB - 238 downloads)
Attached file : 101126 TTM GMCR Squeeze Plays.pdf (98KB - 236 downloads)
Attached file : 101129 Earnings Map For Week.vtp (388KB - 216 downloads)

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jmishlove

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Subject : RE: Using News To Form A Superior Watchlist
Posted : 11/27/2010 10:31 AM
Post #5575 - In reply to #5571

Jim,

Thank you for your ongoing interest in providing this forum with so much useful information.

Now that Thanksgiving is over, and I've settled in a bit, having configured a large, extra monitor and multiple computers, I think I am ready to focus in more on the strategy you are offering and give it the attention it deserves.

Perhaps, I'll eventually even be able to put together some rudimentary statistics comparing my Earnings Map results with emini trading.

Of course, I am still only paper-trading. But, I think that -- at this point in time -- the only way I'm really going to integrate all that you are offering here is to give this approach at least 50% of my trading time. That's what I'm expecting to do. And, I hope to establish a fairly good grasp of your method in the coming weeks.

Jeff
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Subject : RE: Using News To Form A Superior Watchlist
Posted : 11/27/2010 2:05 PM
Post #5577 - In reply to #5575

Jim,

I've been able to use TDAmeritrade "watch lists" to create Micro Charts for the 101129 Earnings Map that you have so generously provided. And, I thought I would share with you, and others on the forum, an insight that I gained from my mentor, Dean Brown, eleven years ago.

Dean Brown is the person who first got me thinking seriously about the financial markets. He is the person to whom I dedicated the "Handbook" for the CNBC $1 Million Portfolio Challenge contest (that I posted earlier to this forum).

His insight (that worked beautifully in the 1990s bull market) was to look for growth stocks with strong, smooth upward charts that showed a doubling in stock price over a 2-year period. He believed that such a chart was a positive reflection of good company management. Of course, such stocks are much harder to find in these recent, turbulent years. But, I did notice several on the Earnings Map.

These include NRGY, OVTI, PAY and ULTA. (I am not including DLM on this list, as it is being bought out.) Also of interest, from this perspective, would be GIL, SDRL, SMTC and TSL. These stocks have shown the price growth. But, the curve is not so smooth.

On the sub list, those stocks that somewhat conform to Dean Brown's criteria include GIII, JAS, LQDT and ZUMZ -- although none of these have very smooth curves.

Obviously a 2-year chart is a very large perspective for day-trading. But, because of my history with Dean Brown's method, I think that a lot of long-term investors will be paying particular attention to the earnings reports of those stocks. So, I think I would want to have them on my short-list to see how they actually perform as their earnings are reported.

Among those symbols previously mentioned, the following have shown nice, smooth upward curves during the previous 5 days: GIL, ULTA, and JAS.

Other stocks I would like to watch, based on a smooth upward curve in the last 5 days would be AVGO (regular), plus MOV & RUE (sub stocks).

Of course, this analysis may have little or nothing to do with how these stocks will perform for day-trading. I guess I'll have a better idea about that in one week.

Jeff


Attached file : 101129 Earnings Micro Charts 2 yr.PNG (115KB - 234 downloads)
Attached file : 101129 Sub Micro Charts 2 yr.PNG (115KB - 230 downloads)
Attached file : 101129 Earnings Micro Charts 5 day.PNG (105KB - 231 downloads)
Attached file : 101129 Sub Micro Charts 5 day.PNG (117KB - 237 downloads)

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jimb

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Subject : RE: Using News To Form A Superior Watchlist
Posted : 11/29/2010 8:01 AM
Post #5581 - In reply to #5577

Jeff,

Pre market info for your use follows:

Monday, November 29, 2010, good morning
Economic Reports - none

Gap stks - AMAG AMZN BA CS DE DECK EBAY FDX NFLX RIO RYAAY TTM ULTA UNH VOD YUM
SUB gap stks - CONN FLO GIII NLST SGMO

Friday's stks on the move - CETV GES OCR TEF TTM VE

Foreign Markets
Asia - mixed
Europe - up

Domestic Markets - Slightly down - 0.08% to - 0.14%

0830 edit: Gap adds - MLNX SBUX

Regards,

Jim B.

[Edited by jimb on 11/29/2010 8:31 AM]

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jmishlove

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Subject : RE: Using News To Form A Superior Watchlist
Posted : 11/29/2010 10:03 AM
Post #5582 - In reply to #5577

Jim,

My impression, after the first hour of trading this morning, is that there has been very little tradeable action on the Earnings Map watch list.

At first, it seemed to me that BECN was making a strong move. So, I entered a paper trade at 15.831. Immediately, the market began to retrace. And, when it rebounded rather weakly, I exited the trade with a small profit. In retrospect, I might have stayed in a little longer. But, right now, I have no confidence that this stock will make a $1 move. (Although, if I were clever enough to have caught the move when it first reversed from short to long, it may well have been worth $1.)



Nor do I see any other stocks on the Earnings Map, right now, that give me the impression of a possible big move.

I do see that ULTA, a symbol that was on the short list I posted previously, has moved up $1 from the open this morning, and subsequently retraced over 50%. But, I don't think I am clever enough to have caught much of that move -- if any. I can see that the ability to actually catch the reversals, as they happen, can be a great advantage. But, I saw nothing obvious with regard to these two stocks.



On the other hand, with regard to the TF emini contract, I've been noticing a simple pattern that seems to reliably indicate how the first 2 min candle will move. And, this morning, paper-trading, this setup generated $1000 within about 30 seconds. Obviously, I am very intrigued by this. But, as the chart below shows, it was still a risky trade.

Jeff



[Edited by jmishlove on 11/29/2010 10:07 AM]

Attached file : 101129 BECN.PNG (31KB - 884 downloads)
Attached file : 101129 ULTA.PNG (31KB - 874 downloads)
Attached file : 101129 TF.PNG (9KB - 902 downloads)

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jmishlove

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Subject : RE: Using News To Form A Superior Watchlist
Posted : 11/29/2010 10:20 AM
Post #5583 - In reply to #5582

Oooops. It looks like I made a big mistake thinking that BECN had run out of steam.

Jeff



[Edited by jmishlove on 11/29/2010 10:21 AM]

Attached file : 101129 BECN 2.PNG (59KB - 877 downloads)

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jmishlove

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Subject : RE: Using News To Form A Superior Watchlist
Posted : 11/29/2010 10:32 AM
Post #5584 - In reply to #5583

Jim,

Somehow, I missed your 6 am (PST) post this morning with regard to the gap stocks. So, I haven't been watching them. (In the future, I'll be more alert for these.) However, I do see that another of the stocks on the short list I posted earlier (based on Dean Brown's approach), NRGY, has moved almost $1.



When I first checked this stock in the morning, I didn't think it would be doing very well as I noticed modest earnings growth -- plus the highest PE ratio in its industry group (in fact, almost astronomical). But, I guess the charts speak for themselves.

Jeff

[Edited by jmishlove on 11/29/2010 10:59 AM]

Attached file : 101129 NRGY.PNG (57KB - 884 downloads)

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jmishlove

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Subject : RE: Using News To Form A Superior Watchlist
Posted : 11/29/2010 11:42 AM
Post #5585 - In reply to #5581

Jim,

My impression is that most of the gap stocks and Friday's stocks on the move that you posted earlier this morning were not particularly tradeable. I found the most interesting to be FDX and GES.

I guess the key to trading FDX, in addition to the Credit Suisse upgrade, would have been the fact that it remained strong in the early minutes when overall market was moving down significantly.

And, with regard to GES, the opening gap was quite strong. But, one would have had to act quickly -- as virtually the entire move occurred in the first half-hour.

Well, this morning, I was too late to be watching these stocks in the early morning. But, I imagine that finding these signals amidst the noise from the other gapping stocks can be somewhat problematic. I think GES could easily have been lost in the shuffle as most stocks were moving down at the time.

Jeff
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jimb

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Subject : RE: Using News To Form A Superior Watchlist
Posted : 11/29/2010 9:54 PM
Post #5587 - In reply to #5585

Jeff,

Actually a large number of the stocks were very tradable. But perhaps it does take some practice. (All Group members trading this morning were profitable, with at least one making five figure profits.) And thank you for providing your thoughts because it helped me decide to provide a larger sample of today’s plays than originally planned. Quad charts are set using replay to mainly show the price action during regular market hours, which are 0830 to 1500 on the charts because I live in the CST zone. It is hoped that these charts, and others (attached), show enough price action to let future reviewers of this post/thread decide if the price patterns appear to be ones they want to trade, or else learn to trade.

One of the nice things about trading/investing is that there are just so many choices about how one makes money. As perhaps shared before, I personally never had aspirations to day trade – I mainly just wanted to better manage my long term investment/portfolio. But it was just so fortunate that day trading was given a try because it is now my favorite timeframe to trade.

There have likely been enough examples/samples provided in this total thread to now switch from the early morning focused plays to other ways to obtain superior watch lists. It is hoped that other forum members will post their methods for watch list development,

Thanks for sharing the method recommended to you back in the 1990s. It sounds interesting.

Also congratulations on apparently finding a method with which you like to trade index futures.

Regards,

Jim B.

Attached file : 101129 2 earnings stks for day, 1 SUB, 2m 1d chart.pdf (31KB - 243 downloads)
Attached file : 101129 - 101126 stks on the move 1d 5m microcharts.pdf (8KB - 235 downloads)
Attached file : 101129 earnings stks 1d 5m microcharts.pdf (21KB - 219 downloads)
Attached file : 101129 gap stks 1d 5m microcharts.pdf (19KB - 237 downloads)
Attached file : 101129 Market Overview.pdf (94KB - 260 downloads)
Attached file : 101129 Quad charts - AMAG AMZN BA CS.pdf (38KB - 254 downloads)
Attached file : 101129 Quad charts - DE DECK EBAY FDX.pdf (38KB - 248 downloads)
Attached file : 101129 Quad charts - GES OCR TEF TTM.pdf (35KB - 208 downloads)
Attached file : 101129 Quad charts - NFLX RIO RYAAY ULTA.pdf (37KB - 232 downloads)
Attached file : 101129 Quad charts - UNH VOD YUM CETV.pdf (35KB - 243 downloads)
Attached file : 101129 SUB earnings stks 1d 5m microcharts.pdf (23KB - 238 downloads)

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jmishlove

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Subject : RE: Using News To Form A Superior Watchlist
Posted : 11/29/2010 10:59 PM
Post #5588 - In reply to #5587

Jim,

Again thank you for sharing so much information. If you have the time and inclination, I would be very interested in knowing what specific trades you took today.

As for myself, obviously I have a lot to learn about daytrading stocks. I did place two paper-trades. One, as mentioned previously, with BECN. And, later in the day, with TSL. In both cases, I think I ended up chasing the trend and not making an optimal entry.

And, in contrast (today, at least), my two paper trades on the TF emini contract each yielded $1,000 in make-believe profits. So, I am encouraged to keep developing this approach.

I can certainly see, however, when looking at the long, smooth trends in some of those stocks how the eminis would seem not worth trading. It seems that a somewhat different mindset is involved for each type of security.

So, I hope to keep learning; and I do value the bits of information that are being shared on this forum.

I would also like to encourage others to jump in. Lately it has felt as if, perhaps, I am posting too much -- especially considering that I am still a total novice as a daytrader.

Jeff
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