Information

Notes from @alphatrends Free Webinar

Posted in After Hours, Information, Technical Analysis on December 21st, 2009 by STO Trader – View Comments

Brian Shannon - @alphatrendsWow, just finished up a whirlwind session with Brian Shannon (aka @alphatrends) reviewing a ton of charts for the week. He opened up his usual subscriber webinar session to the public, so I jumped at the opportunity to learn from him.

I furiously took some notes in an attempt to retain a fraction of the information for later use. Figured I’d share what I captured for those who weren’t able to make it. I signed-on a touch late, so missed the beginning part. However, Brian’s extensive knowledge and experience certainly shows in going through a ton of charts at lightning speed. Good stuff!

For those interested in learning more from Brian, he has a premium blog, AlphaTrends.net, on the Stocktwits Network. He is also the author of Technical Analysis Using Multiple Timeframes. I don’t have that book yet, but it’s on my list, so hopefully I can provide a review someday.

Anyway, here are my notes from the webinar. As with all stock mentions on my site, these are neither recommendations or endorsements for any play. (See the Disclaimer.) I may have even mistyped something, so don’t blame either me or Brian if anything doesn’t jive with what you see in your own analysis of the stocks and charts.

Enjoy and happy trading!

Long Ideas

  • FLIR – official idea
  • RFMD – official idea
  • KG
  • AA
  • AEP
  • AF
  • APWR
  • AXL
  • BIOF
  • CMTL
  • FCS – above 9.8 stop below 9.45
  • ITRI – support at 67, b/o above 67.40+
  • NEP
  • OHI – break above 19.05
  • CNU – breaking out from consolidation
  • PAET – look for p/b then get in… stop @ 4.03
  • QLTI – stop 4.68 b/o @ 5.00
  • VVUS – in @ 9.30, stop @ 9.35 room to 10.50
  • VZ – broke resistance @ 33, advance then p/b. 33.20 entry with 32.9 stop
  • AKNS – right @ 5dma up to 1.45
  • CSUN – looking for p/b to 4.50, b/o on daily chart, could be chasing
  • JASO – similar to what CSUN could do
  • YGE – good possibility, could be b/o looming, good weekly chart, bot Jan 16 calls

Short Ideas

  • GENZ – looking week, possibly down to 42
  • ENDP – below 19.50, b/d
  • MUR – bearish flag
  • TNDM – hammering @ support @ 20.50

Other Charts

  • RIMM – at previously weekly support, could need to work to break above, needs to settle in, could set some higher lows and break above
  • EXPE – Good weekly chart (6-26) 26 is prior support, now resistance, neutral over last 3 weeks, support 24.50-25.00 (prefer stocks like AF that are just possibly starting a move)
  • QTWW – some support @ 1.05, but below DMA, neutral at best
  • UMPQ – support @ 10DMA, p/b to 20DMA, broke resistance @ 12.50-12.60. Would like p/b to that level then past 12.80. Potential to 14.50-15.00
  • JAZZ – lighter volume, good pattern on daily, possibly a little stretched on weekly, broke resistance late in day, could make to prior support @ 9.25
  • CTXS – daily looks good, broke resistance, should wait for a p/b
  • PCX – looking like AA, needs time to rebuild for another day or two then b/o
  • LSCC – MAs in alignment. Stop @ 2.70. Look for move above 2.86
  • PWER – In big uptrend, but need p/b before getting in.
  • IO – b/o on weekly @ 4.00 (again similar to AF, AA) daily setting higher lows, b/o and pulled back to resistance, needs to clear 6.20 before looking at again (look @ 1min chart)
  • ARTG – b/o on daily on good volume, inverted H/S on weekly, could get to 5.25
  • SEED – breaking down below 5DMA, short-term downtrend, let it play out before making a move, week away from getting back above 5DMA (if at all)
  • NABI – not thrilled on weekly timeframe, false breakouts @ 5.25 could still be a possibility
  • CDE – below 50DMA, needs to play out similar to SEED, prior support @ 19.25 acted as resistance
  • TVL – more neutral than anything, watch out for stocks under 500K daily volume
  • TSO – rallying up to a declining 50DMA, neutral at best
  • BPO – broke past resistance, retailer on some momentum, getting ready for next leg higher, watch out for lower highs on 30min. Needs to make higher high, stop @ 12.18
  • MEA – pretty neutral D-list, getting volume on moves higher but no breakout, alert set @ 4.70 to watch, bullish consolidation on weekly
  • COV – PLC stock, so watch for gaps. Solid rally on weekly, small consolidation right now. Needs to clear 47.50 and increasing 5DMA
  • RHT – broke resistance on daily and weekly, not freshest b/o. Also good break on 30min, 29.50 should now be support
  • BZH – Recovery from support, somewhat neutral, still lower highs on weekly
  • CLX – Break resistance and pulled back to support. Currently declining 5DMA. Entry on today’s high, stop around 61.60.
  • X – In nice uptrend, such a big run so a bit extended. Would need p/b to consider better r/r on play.
  • OESX – Thinly traded. Nice b/o on daily with volume. Watch closely if it starts breaking down. Recent low on 10min as stop.
  • ICE – Choppy stock, too irradic to look at.
  • HW – Great b/o last week. Could have room up to 7.50. Look for p/b to 5DMA.

Profitable Week and Trading Rules

Posted in Expiration, Information on October 18th, 2009 by STO Trader – View Comments

Woohoo! Positive $400 for the week. Not my biggest gain, by any means, but any week positive is something to celebrate. Still feeling like I’m learning a lot, and definitely know there is still plenty to learn. This week being options expiration for October was particularily interesting. Biggest lesson for me this week is to cut losers short and let the winners run. Could have easily doubled my profits if I’d follow those two like I should have. That’s what next week is for!

To help share some of that learning I need to do, here is a typed up version of a couple sets of scanned trading rules, as provided by rolcol325. The list is apparently from an old trading card he had access to. At any rate, here are the lists: read more »

Small-time Options Update: Continued Learning

Posted in Information on September 20th, 2009 by STO Trader – View Comments

Eeek! Where does the time go?!? It’s been another extremely dry spell for me in updating this blog. I’ve just been pulled into so many different directions it’s hard to keep up with this thing. However, I do have some updates for my loyal fan base, whoever that may be.

While I haven’t been good about keeping up with this blog, I have been keeping up with working on my trading skills. It is still a little difficult doing this in a hobby, very part-time capacity. However, I’ve managed to tap into some really excellent sources of knowledge and advice that have taught me a ton over the past couple months.

read more »

Hiatus Over, Back in the Game with thinkorswim

Posted in Information on July 7th, 2009 by STO Trader – View Comments

Okay, I’ve been out of the market craziness for a few months now. A combination of factors involved, but I’m recharged and ready to go. And so is my account! I’m actually waiting for final clearance on the initial deposit into my shiny new thinkorswim account. I’m very excited to be ditching Etrade’s very-not-options-friendly platform for TOS’s setup. I’ve been playing around in there for a while, but excited to actually put some skin in and see how I can handle the pressure. read more »

Initiating Launch Sequence

Posted in Information on January 18th, 2009 by STO Trader – View Comments

Here is the obligatory “Hello, World!” entry to this blog. I just got the blog engine setup, and am now playing with Twitter. Should start getting some real content up soon.

So, what should this blog do? Well, selfishly, it will be a home for me to record my thought process for my shrinky-dink options trading account. I’ve read in numerous places that it is a good practice to record all of the information you use in deciding on which trades you enter into, as well as the onese you exit. That way, you have a snapshot of your decision that you might not otherwise have. Sure, you’ll be able to see the purchase price you bought (or sold) an equity for while you’re in the trade, plus a great deal more. However, after you exit a trade, it starts to get more complicated. By then, it usually is just entry and exit price that you can look back at to compare against other trades.

I believe it’s much more than just an entry and exit number, especially when it comes to options. There is the strike price, the risk/reward ratio, the underlying stock price before, during and after the trade, and much more. I want to record this info somewhere so I can look back on my trades and try to learn from my mistakes. Of recent, I’ve had a decent amount of success, and would like to continue growing not only the size of my brokerage account, but also my trading knowledge.

With any luck, you readers might pick up a thing or two, as well. I’ll try to make sure it’s more than what NOT to do with any given trading opportunity. But if I go down in flames, hopefully at least some of you will be able to enjoy the ride.

My goal is to get a couple more posts going this week to explain some background on my current trading. Once I get everyone caught up, there should be regular posts on current trades, research findings and other market updates that I find interesting or pertinent. <disclaimer>Just keep in mind, I’m a complete amatuer and not in anyway directing or suggesting anyone to follow my lead. Any decisions you make to enter a trade are yours, and I claim no responsibility for your actions or outcome.</disclaimer>

Welcome to the show!