swing-day trading US stocks

OMC wasn't on my watch list so can't say for that stock. I dont see much interest of OMC. Generaly I wont go back. For me that is new pattern, just important if that previous resistance or support was very strong and can because of that distroy my planed risk reward. If not I wont be upset with that much. Hope that is anwer on question what you expected. If isnt clear feel free to ask again

Ivica
 
I meant OMX. Note how the "C" is next to the "X" on the keyboard. Simple typo. I won't ask you to comment on anything not on your watchlist.

At any rate, OMX tanked after it broke through the lower boundary of the rectangle I had drawn. I was looking for a short based on TA and the consolidation pattern. OMX is one of my favorite stocks because of the way it consolidates and breaks so cleanly.

Shhhh, don't tell anyone.

Btw, again, you're doing nice work here. Great job.
 
Market commentary:

Good day! We saw very whippy intraday action with morning run to intraday high and then strong selling in to low area.. Then consolidation over lunch time, and then again back to daily high for QQQQ. SPY and DIA made new high on that last buying wave.

http://www.swingcharts.net/Ivica/2006/07262006qqqq.jpg

http://www.swingcharts.net/Ivica/2006/07262006spy.jpg

You can see on daily charts that QQQQ right above previous high resistance area and still a lot weaker then others. SPY and DIA come to trend line resistance area. Sound great, if will break it we could see more buying in the market. But I will be a bit caution because we are still in earning season and very turbulent world situation with Middle East.
http://www.swingcharts.net/Ivica/2006/07262006dia.jpg

Also a lot moving average resistances and support on charts. So we are in the middle of moving average forest. My plan will stay same. Will look for own way stocks and for rest will go with intraday market action mostly by using comparison with market action. Other words will as usual look for strong and weak charts.

Good luck
Ivica Juracic

p.s. apologies for any language mistakes


IMPORTANT: Take only opportunities what really like and really understand trading plan. If have question always can ask me, but isn’t good way to be successful if will take trades without understanding. That is very important. Only few trades are enough for successful trader, they don’t need a ton every day. I personally take mostly swing trades. Have that always in your mind.


Watch list for 07/26/2006

LONG:
Swing possibilities (ST-PT)

TCO long above: 41.25, stop under: 40.36, target: 45 areas ST http://www.swingcharts.net/Ivica/2006/07262006tco.jpg
AHG long above: 19.05, stop under: 18.75, target: 20 areas (20.50 areas) ST http://www.swingcharts.net/Ivica/2006/07262006ahg.jpg
ASH long above: 66.80, stop under: 65.65, target: 70 areas ST http://www.swingcharts.net/Ivica/2006/07262006ash.jpg

DTV and UTSI from yesterday watch list still valid

SHORT:
Day trade possibilities (DT-ST)

ASTE short under: 21.90, stop above: 22.25, target: 20 areas DT http://www.swingcharts.net/Ivica/2006/07262006aste.jpg
SINA short under: 21.40, stop above: 21.90, target: 20 areas DT-ST http://www.swingcharts.net/Ivica/2006/07262006sina.jpg


Watch ideas:

Long: VTR, YHOO, ABV, ESRX, KRC
Short: ZOLT, TRMB

Daily watch list tracking records:
http://www.swingcharts.net/Ivica/2006/dwl072006.htm - for July
 
Market commentary:

Good day! Not big changes on daily charts.
http://www.swingcharts.net/Ivica/2006/07272006qqqq.jpg

QQQQ, SPY; and DIA stayed under resistance area what we had yesterday on daily charts.
http://www.swingcharts.net/Ivica/2006/07272006spy.jpg
http://www.swingcharts.net/Ivica/2006/07272006dia.jpg

Intraday we had whippy market action under control of news. I will expect same action for rest of week; also risk management will stay same. Generally better to stay with intraday moves, only if we are in own way stock. So expect mostly same action (whippy) as yesterday, but short possibility because of resistance . Earnings can still effect intraday action. So for my style patience is out and I wait better market for me to trade with full risk. Unfortunately I’m sure that will hard see before September. That mean I will trade smaller then usual, nothing else. Always will be opportunities just must have open eyes.

Good luck
Ivica Juracic

p.s. apologies for any language mistakes


IMPORTANT: Take only opportunities what really like and really understand trading plan. If have question always can ask me, but isn’t good way to be successful if will take trades without understanding. That is very important. Only few trades are enough for successful trader, they don’t need a ton every day. I personally take mostly swing trades. Have that always in your mind.


Watch list for 07/27/2006

LONG:
Swing possibilities (ST-PT)

VTR long above: 35.25, stop under: 34.65 (34.90), target: open http://www.swingcharts.net/Ivica/2006/07272006vtr.jpg
KRC long above: 74.00, stop under: 72.50, target: 78 areas ST http://www.swingcharts.net/Ivica/2006/07272006krc.jpg

DTV still valid

Day trade possibilities (DT-ST)

LCC long above: 51.50, stop under: 49.75, target: 54 -55 areas DT-ST http://www.swingcharts.net/Ivica/2006/07272006lcc.jpg

SHORT:
Swing possibilities (ST-PT)

SAFC short under: 53.40, stop above: 53.82, target: 52 areas ST http://www.swingcharts.net/Ivica/2006/07272006safc.jpg

Day trade possibilities (DT-ST)

SINA short under: 21.40, stop above: 21.90, target: 20 areas DT-ST http://www.swingcharts.net/Ivica/2006/07272006sina.jpg


Watch ideas:

Long: ABV, MAT, CERN, PHM, WWW, OGE, HSP, MYOG
Short: PFG

Good luck
Ivica Juracic
 
Daily watch list tracking records:

http://www.swingcharts.net/Ivica/2006/dwl052006.htm - for May
http://www.swingcharts.net/Ivica/2006/dwl062006.htm - for June
http://www.swingcharts.net/Ivica/2006/dwl072006.htm - for July


For those who are interested to see results want to pay attention on risk/reward column.
I’m breakout trader and for me is important to find small risk opportunity with good reward. On that way one target trade will cover few loss trades and that is very important for longer profitability. .
 
Great posts ivica! I like your setup and trades very much.

One thing that always puzzles me, a new trader, is how to discover stocks with the setup. Do you scan charts automatically or manually? If auto, could you reveal some basic settings?

Another thing I noticed is that your long trades way outnumbers shorts, even in a obvious down trend market. Any particular reason?

Thanks and keep it up!
 
First of all I want to say that I'm not US citizen and that English isn't my first language, and hope that won’t be a problem.

Yes I do manually scanning every day after market close. I go over all sectors and look every daily chart. When I find what is interesting for me I go over other time frames, and if the whole picture is ok for me I will use it.

About my long ideas, situation is very clear. In any kind of market we will have long possibilities, Always will be stocks with "own way" without care what market do. I try to find those. I feel better when I'm in long trade, but lately I really didn’t find much of shorts and that is reason. No specific other reason. Can be uptrend market and I will have more shorts, depend on moment. It is important to follow market and chart what you like and see is it stronger or weaker then market action. In room yesterday I just talk about AKAM. As example, look market weekly chart (QQQQ, DIA, SPY), and take a look on AKAM weekly chart. You can see divergence...and AKAM have own way, same as N. So on bigger time frame I still see number interesting longs. Hope that will not change, because I like more longs then shorts, generally.

Hope this help, and again sry about language mistakes

Also glad you like my ideas.:)

Ivica
 
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