TraderHank’s play in NTAP

Posted on February 14, 2013 by TraderHank
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 My next play was in NTAP which I found on my gap down list as a Tier III gap that can only be played on it's own merits and usually on a 15 minute setup.  Price action filled the gap in a flurry, which usually makes a pretty good short.  NTAP triggered just below the 20 ma @ 9:45 am and I entered short.  For some reason I had put my first target at .60 cents but it should have been way down at the bottom, my mistake but it worked out fine as NTAP got bullished and I was forced into trailing out of the play with a little over 1 R profit.  Here is the 5 minute chart for my play in NTAP...

NTAP02142014
NTAP02142014
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QQQ update and TraderHank’s play in ANR

Posted on February 14, 2013 by TraderHank
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The Q's opened by gaping below the 67.68 area breaking major support by a few cents and setting the low by 9:35 am @ 67.62 before making a run into minor resistance where price just went sideways until 10:30 am when price broke out to the upside.  We rallied setting the high for the morning by 10:50 am @ 67.94.  Then we went sideways into lunch and at 12:15 pm we broke out again to the upside setting what looks to be the high for the day by 1:10 pm @ 68.05.  We tested the highs again at 2:10 pm and now we are in a sideways consolidation pattern near the 67.94 area.  Here is the 5 minute chart of today's action in the QQQ.

qqq mid day 02142013
qqq mid day 02142013

My first play was in ANR which I found on my gap list as a Tier II gap that I wanted to look for an entry early in the day.  I find a bottoming tail on the 1 minute chart that I could enter above and place my stop .01 cent below.  It looked like an area that would hold but 10 minutes later I was stopped out.  I could have replayed ANR, but for some reason, I've never really like playing stocks that trade under $20.  Boy, what a big mistake today...  Check out the chart for my play in ANR...

anr02142013
anr02142013
Posted in Daily Analysis, Gap plays | Comments Off on QQQ update and TraderHank’s play in ANR

QQQ update and TraderHank’s stock picks for 2-14-2013

Posted on February 13, 2013 by TraderHank
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The Q’s ended near the lows of the day after attempting a run at the high of the day and coming up short to roll over at the 68.08 area.  The QQQ closed the day at 67.97 just a few cents off yesterdays close.  For Thursday we would need to get above the 68.08 area to resume the uptrend on the 5 minute chart.  If we gap above 68.08 or trade through this area, I’d be looking to take the first 5 minute buy in the market near 10:30 reversal time.  We can play the market short once price breaks below the 67.68 area either by gaping below or trading through this area.  Upon the break of the 67.68 area I’d look to take the first 5 minute sell that triggers at or near 10:30 reversal time.  Currently the price action in the QQQ is sideways where we short the top 68.08 and buy the bottom at 67.68 or we just wait for the break out to lead the way.   

Longs:

JNPR – Daily buy watch

MET – Daily buy triggered

MOS – Daily buy triggered

NTAP – Pivot I pattern

RIG –  Daily buy triggered

Shorts:

APOL – Major support break 

BRCM – Daily sell watch

LVS – Money bar pattern

QQQaftermarket02132013
QQQaftermarket02132013
Posted in Daily Analysis, TraderHank's Stock Picks | Comments Off on QQQ update and TraderHank’s stock picks for 2-14-2013

QQQ update and TraderHank’s play in JCP

Posted on February 13, 2013 by TraderHank
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The Q's opened up at 63.93 at the highs of yesterday afternoon, then sold off setting the low of the day at 9:50 am @ 67.78.  Then the QQQ rocketed upward setting the high of the day by 10:10 @ 53.98 and for awhile price action went sideways leading many traders to believe that this might be a trend day higher.  We had a retest and failure to make a new high at 10:40 am and have since moved lower and currently price action just put in a large wide range red bar to the downside ending the thought that this would be a trend day.

QQQ02132013midday
QQQ02132013midday

My trade of the morning was in JCP which I found on my gap up list to play later this afternoon.  JCP was a Tier III gap and needed an intraday pattern to enter the play which occurred after the market was open for only 4 minutes, price action just rocketed upward putting in a large green wide range bar.  This is a momentum play and I was looking to play the pull back.  I got my entry on the 1 minute chart as a buy setup, once triggered, price action popped up to a 2 R profit and I sold 1/2.  I took off the last 1/2 after the break down of a 1 minute bar.  I re-entered the play after the price action started to base and consolidate nicely seen here on the 1 minute chart.  I entered after a small little shakeout formed and then price action attempted to break out twice, but could not get above .05 cents.  During the last attempt, I slammed my stop to a break even to protect my morning profits and I was soon stopped out of my 2nd play in JCP. Not bad, just under a 2 R profit for TraderHank's play in JCP...

jcp02132013
jcp02132013

   

Posted in Daily Analysis, Gap plays | Comments Off on QQQ update and TraderHank’s play in JCP

02-12-2013 Lowing your risk unit to get your rhythm back…

Posted on February 12, 2013 by TraderHank
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Monday I lowered my risk unit since I have been in a struggle with my plays.  I found myself being left out of many good plays for fear of loss, which is a sure sign of trouble with your risk unit.  I lowered my risk almost by 1/2 and I felt liberated on Monday, even though I had a losing day.  I was down as much as 4 R but I kept taking good setups and when the day had ended, I was only down 2 R.  I might have over traded since we had a narrow range day on Monday and last Friday was a wide range bar day, but I was able to stay in the game, make more trades and make a really poor losing day into a respectable loser.  Today, I'm up 2 Risk units and even for the week and I'm feeling much more relaxed, just waiting for my setups.  Now I won't hesitate to take a beautiful setup, I'll just take it with out fear, I'm also managing better taking plays to their last major high pivot(reverse for shorts) with full share size, selling only 1/2 and keeping the rest to manage on pivots.  This should really help me extend my winning plays and have greater profitability on the plays that I take... 

Posted in Diary | Comments Off on 02-12-2013 Lowing your risk unit to get your rhythm back…

QQQ predictions and TraderHank’s stock picks for Wednesday, February 13th, 2013

Posted on February 12, 2013 by TraderHank
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Longs:  

C – Break out continuation

HD – Daily buy continuation

JNPR – Buy watch

MET – Daily buy triggered

MOS – Daily buy triggered

TOL – WRB follow through

WAG – Power trend continuation

Shorts:

AMGN – Gap continuation

KO – Gap continuation

QQQEOD02122013
QQQEOD02122013

The QQQ rolled over after lunch today @ 13:25 pm and continued the down trend to finish the day at 67.71 near an area of Major support.  For tomorrow if we gap below or trade through 67.60, I would look to take the first 5 minute sell in the market near 10 am or 10:30 am reversal time.  If we open neutral and move on up and trigger a sell at or near the 67.88 area by 9:35 one could short the Q’s with a longer target back down into major support at the 67.66 area.  On a move or gap higher, the break of this 67.88 area would end the 5 minute down trend and the next higher low setup at or near 10:30 reversal time could be taken long into the 67.98-68.05 areas.  My market bias is neutral, so read the chart and make your plays accordingly…          

Posted in Daily Analysis, TraderHank's Stock Picks | Comments Off on QQQ predictions and TraderHank’s stock picks for Wednesday, February 13th, 2013

TraderHank’s short in XOM

Posted on February 12, 2013 by TraderHank
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XOM had a beautiful 9:45 wide range bar to the downside which made my possible list for a play sometime mid morning or afternoon.  Soon, XOM setup beautifully triggering a 5 minute sell with the market and price headed lower nicely.  Price based for a while at the 85.07 area and finally broke down to the .02-03 area so I moved my stop down to .08 which locked in a 1 R profit.  As the market started to rally making a higher low, XOM finally stopped, taking out my lower stop area ending the play with a 1 risk unit of profit.  I'm up about 2 R's for the day, hopefully something will setup after lunch...

xom02112013
xom02112013
Posted in 9:45 Wide Range Bar Plays | Comments Off on TraderHank’s short in XOM

TraderHank’s play in LVS

Posted on February 12, 2013 by TraderHank
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My next play was in LVS long which I had found on my gap up list, not a Tier I gap but I thought LVS might be an afternoon play.  My entry was after a strong pull back into Major support and I bought the retest of the area expecting a pop with a possible run back up to the 54.30 area.  Price action in LVS just floundered making me rethink the whole trade as the market headed lower.  I finally just took a safe exit out of the play since price did not do what I wanted it to do, I basically fired LVS...

LVS02112013
LVS02112013
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QQQ update and TraderHank’s play in QCOM

Posted on February 12, 2013 by TraderHank
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The Q’s just about opened neutral with a small gap lower and continued lower breaking Major support and setting the low of the day at 9:45 am @ 67.66, then the market rallied into 10:10 am triggering the first 5 minute sell in the market.  Price headed lower but could not make a new low but made a higher low at 10:55 am.  Price powered up over the 5 minute sell pivot area breaking the downtrend and set a new high of the day of 68.05 @ 12 noon.  Currently we are sideways, but I’m bullish looking for a late day break out in the QQQ after lunch today….  Here is this mornings chart for the QQQ…

5 min QQQ 02112012
5 min QQQ 02112012

My first play of the day was found on my gap down list as a Tier II bearish gap in QCOM.  I waited for the 2nd setup to go lower in QCOM but after a few minutes QCOM popped up taking out my stop.  Price proceeded to move lower taking out the large green bar that had stopped my first play.  I entered QCOM short again under a green bar ignored and this time price dropped like a rock.  I covered 1/2 of my shares at about the .55 cent area then made the mistake of adding back the shares I had just covered (fat finger moment), so I sold the entire lot as price started to move upward.  I ended the trade with almost a 1 “R”isk unit of profit after taking a full stop on my first entry.  I’ll take it!

qcom02112013
qcom02112013
Posted in Daily Analysis, Gap plays | Comments Off on QQQ update and TraderHank’s play in QCOM

TraderHank’s long play in AUDUSD

Posted on February 12, 2013 by TraderHank
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My long play in AUDUSD just ended with 4 lots triggering long buys, 1 of which stopped and the other 3 all went to their 40 pip take profit targets, a nicely profitable trade on somewhat of a failed transition to go long AUDUSD but a nice recovery.  Here is the chart for my play in AUDUSD.   

Click on image to enlarge...

audusd02122013
audusd02122013
Posted in Forex | Comments Off on TraderHank’s long play in AUDUSD