QQQ update and TraderHank’s Momentum play in CREE

Posted on February 25, 2013 by TraderHank
Share Button

The Q's gaped up to open the day at 67.57 at an area of Minor Support then pulled back and rallied to the high of the day @ 67.81 by 10 am.  Price rolled from 10 am triggering what appeared to me as the hourly sell where price continued downward in a stair step fashion lower into lunch when price retraced until 1 pm and continued lower.  The 5 minute chart looks like a text book down trend with the QQQ selling off into the close and finally bouncing higher during the last 5 minutes of trade to close at 66.67.  

5 min QQQ02252013
5 min QQQ02252013

My first play was in CREE on a 5 minute momentum play lower which I found scanning my universe of stocks at 9:34 am looking for a wide range bar.  I took the 5 minute low of CREE with stop over the high.  My long target was .51 but at 1:00 pm I was able to add twice the number of shares that I had and move down my stop to a break even with the additional shares added.  Now I was able to cover 1/2 of my shares at the low of day .74 cents and I held on to the last 5 minutes of the day and covered my last remaining shares into the close at .58.  I have to admit that this is one of my finest trades as far as following a trading plan, execution, and profits made, this is what a professional day trade looks like...

cree02252013
cree02252013

    

Posted in 5 minute momentum play, Daily Analysis | Comments Off on QQQ update and TraderHank’s Momentum play in CREE

QQQ update and TraderHank’s stock picks for Monday, 2-25-2013

Posted on February 24, 2013 by TraderHank
Share Button

 On Friday the QQQ closed on its high of the day @ 67.15 breaking out and continuing the uptrend on the 5 minute chart.  For Monday if the Q's gap up or continue to trade up in the morning, I'd look to buy the first 5 or 15 minute buy that triggers near 10 am or 10:30 am reversal time at the 67.05 area with possible long targets of 67.24 to 67.64 areas where I'd expect to see an hourly sell trigger over lunch.  If we happen to gap down or trade down to the 66.92 area I'd be looking to buy the Q's @ Major Support at or near 10 am or 10:30 am reversal time.  If we gap or break down through the 66.85 area I'd sell short the first 5 minute sell setup at 10:30 reversal time with a lower target at the 66.64 area.  Click on chart to enlarge....

QQQ02242013
QQQ02242013

Longs:

DIS - Daily buy watch

FSLR - Daily buy watch

HAL - Daily buy watch with COG

HPQ - Gap continuation 

INFY - Gap continuation

JDSU - Daily buy watch with COG

JPM - Daily buy triggered

MS - Daily buy triggered

VLO - Daily buy triggered

XLNX - Daily buy watch

Shorts:

POT - Break down continuation

QQQ02242013

Posted in Daily Analysis, TraderHank's Stock Picks | Comments Off on QQQ update and TraderHank’s stock picks for Monday, 2-25-2013

QQQ analysis for Friday 2-22-2013 and TraderHank’s stock picks

Posted on February 21, 2013 by TraderHank
Share Button

The Q's ended the day breaking the downtrend on the 5 minute chart but rolling over at the end of the day on minor support.  If we happen to open and rally or gap above the 66.71 area, the next 5 minute buy setup at 10 am or 10:30 am would be playable long with a longer target of 67.86 area.  If we cannot get above the 66.71 area or below the 66.23 area we will be in a sideways pattern and I'd wait for the break of one of these areas before making a trade.  If we happen to move or gap below the 66.23 area, I would look to take the first 5 minute sell in the market at 10 or 10:30 reversal time with a lower targets of 66.17 and 65.67 which happens to be the flat 200 ma on the daily chart. My bias is short, but I'd like to see some type rally into the hourly sell in the market at a reversal time at 11:15 or 12:00 noon.  

5 min QQQ 02212013 1
5 min QQQ 02212013 1

Longs:  

JPM - Daily buy watch

PEP - Level I pivot

VLO - Daily buy watch

Shorts:

AKAM - Daily sell continued

APOL - Daily sell triggered

CHRW - Pivot I continuation

CTSH - Daily sell triggered

HD - Break down continuation

JOY - Gap continuation

LOW - Break down continuation

ORCL - Daily sell triggered 

Posted in Daily Analysis, TraderHank's Stock Picks | Comments Off on QQQ analysis for Friday 2-22-2013 and TraderHank’s stock picks

TraderHank’s 15 minute sell in JOY

Posted on February 21, 2013 by TraderHank
Share Button

 My last play of the day was in JOY which I found on my gap down list as a Tier III gap which can be played sometime in the afternoon preferably on the 15 minute chart.  My entry came on a 15 minute sell setup at "HOSS" which is the 200 ma.  Price took an additional 2 1/2 hours of sideways action before JOY broke down moving nicely to it's target at 62.30 which was the prior low set earlier in the day and I covered 1/2 of my shares.  Price soon caused me to cover the rest of my shares for a nice 1 1/2 "R" unit of profit.  Overall a nice 2 1/2 R's for the day, who said you can't make money when the market is selling off hard...

JOY02212013
JOY02212013

   

Posted in Gap plays | Comments Off on TraderHank’s 15 minute sell in JOY

QQQ update and TraderHank’s short play in AKAM

Posted on February 21, 2013 by TraderHank
Share Button

The QQQ's gaped down at the open and immediately set the high of the day at 67.21 by 9.45 then price sold off to set the mornings low at 66.53 by 10 am.  Price then rallied into the declining 20 ma on the 5 minute chart setting a lower pivot high @ 10:45 am and triggering the first 5 minute sell.  Price continued lower until 12:35 where again price rallied into the declining 20 ma on the 5 minute chart and again price set a lower high at 66.27 by 1:05 pm and triggered another 5 minute sell in the QQQ.  Price continued lower finally setting the low of the day at 2:10 pm at 66.23.  The Q's rallied into 3:30 pm ending the down trend on the 5 minute chart but then price rolled over to close the day at 66.54.

5 min QQQ 02212013
5 min QQQ 02212013

My first play was a 5 minute momentum play in AKAM which I found on my daily sell list because price had triggered a sell yesterday.  My entry came after 5 minutes when a large red wide range bar appeared which I'm allowed to play under the low of the first 5 minute bar.  Price threatened the high only during the 2nd 5 minute bar, but then price started to move lower nicely. Price finally hit my first target at .63 cent but could not get to my lower target of .09 cents which I found on the 60 minute chart.  I was forced out of my play after a break of the last prior 5 minute higher pivot ending the down trend in AKAM.  I've been on vacation for the last 3 days so I felt pretty good with my first trade in AKAM.

akam02212013
akam02212013

       

Posted in 5 minute momentum play, Daily plays | Comments Off on QQQ update and TraderHank’s short play in AKAM

QQQ update for Friday 2-15-2013 and TraderHank’s stock picks

Posted on February 14, 2013 by TraderHank
Share Button

 The Q's price action ended the day in the middle of the range of 68.07 and 67.62 to close at 67.94.  Tomorrow is a coin toss to watch which way this market is going to go, just like today, we can short the top near 68.00 and buy the bottom near 67.62.  The weekly time frame is still in an uptrend in the Q's but we are currently in a sideways pattern clearly seen on the daily chart and this 30 minute chart below.  Don't over trade tomorrow. 

30 min chart of the QQQ
30 min chart of the QQQ

Longs:

ANR - Gap continuation

BRCM - Wide range bar

CREE - Daily power trend

HAL - Wide range bar

JDSU - Power trend

JNPR - Daily buy triggered

QCOM - Daily buy watch

RIG - Wide range bar

SLB - Wide range bar

SNDK - Daily buy triggered

Shorts:

CHRW - Break down

     

Posted in Daily Analysis, TraderHank's Stock Picks | Comments Off on QQQ update for Friday 2-15-2013 and TraderHank’s stock picks

TraderHank’s 30 minute buy in ANR

Posted on February 14, 2013 by TraderHank
Share Button

 My last play of the day was where I started from, ANR.  A buy setup triggered on the 15 minute chart but it was below the 20 ma and I was a little hesitant on taking the play, so I went up a time from where the 30 minute chart offered a little more clarity to the play and once the 30 minute time frame triggered, I entered the play.  I held the play until about 15 minutes before close as the last breakout attempt in ANR looked like it was going to fail.  The play ended with 1 R of profit and sent me over the top for the day with a 1 R profitable day 🙂  

ANRII02142014
ANRII02142014
Posted in Gap plays | Comments Off on TraderHank’s 30 minute buy in ANR

RIG comes up big for TraderHank

Posted on February 14, 2013 by TraderHank
Share Button

I found RIG on my daily list and moved it to my gap list this morning as a Tier III type gap.  RIG was just on a power trend all day when I happened to notice a nice 5 bar pull back into the rising 20 ma, at a 45 degree angle, with the 40 ma underneath giving us that beautiful railroad track look, and last but not least a nice 3-1 risk to reward.  We did not have a COG but we did have a narrow range bar for our trigger bar and I was in over the top of this small little doji type bar. For those learning, this is a text book play off the 5 minute chart, a play does not get any better, I soon found myself @ target 1 selling 1/2 of my shares and soon my back 1/2 was sold at target 2.  RIG was so powerful that it went another .50 cents after my target two area which was taken from a weekly time frame.  A nice 2 R play in RIG and I'm about even on the day...

RIG02142013
RIG02142013
Posted in Gap plays | Comments Off on RIG comes up big for TraderHank

TraderHank takes two stops in PEP

Posted on February 14, 2013 by TraderHank
Share Button

My big disappointment today was my two stop outs in PEP which I found on my gap list this morning as a Tier III gap.  I waited for the 15 minute buy to trigger and price just floundered before stopping me out.  I thought I could have been early on the play so when PEP triggered a 2nd time I was in again long.  Some traders would not replay unless a time frame above such as the 30 minute chart would trigger, I think I’ll make this a permanent part of my trading plan because this would have kept me from taking a 2nd failed attempt at this buy setup.  This failed play in PEP might keep me from a profitable day…  We will see…

pep02142013
pep02142013
Posted in Gap plays | Comments Off on TraderHank takes two stops in PEP

TraderHank’s short play in CSCO

Posted on February 14, 2013 by TraderHank
Share Button

 I found CSCO on my 9:45 wide range bar strategy and played it off the 15 minute chart.  Price action formed a nice topping tail at 10:45 but did not trigger the sell until 11:00 am.  I was in the play for 1 hour and 15 minutes before CSCO powered up as the market was breaking out stopping my play.  Here is the 15 minute chart for my play in CSCO...

csco02142014
csco02142014
Posted in 9:45 Wide Range Bar Plays | Comments Off on TraderHank’s short play in CSCO