Daytrading with Consensus

[Ares]

Will PKTR break 9.10?

[Ares]

Going in with momentum strategy.

Hoku volume above yesterday's
went above the previous weeks high
went above the previous day's high
has a positive net price
trading at least 25 cents above the open but still below 50 cents above the open.
Watching 6.24 as resistance to be broken by lots of green prints.
It would be nice to see a nice level 2 set up with this.
Hourly swing low of 6.09 and a high of 6.17(could be support)
Hourly chart is also showing price is above 8 that is above 50 that is above 200 ma.

15:16 ET
previous 15 minute candle:
High = 6.20
low =  6.16

15:39ET
Hourly swing entry would be at 6.17 with a stop just below the hourly swing low of 6.09

[Ares]

So far, buying strength and going in with momentum looks more attractive than buying weakness close to the lowest line of the linear regression with RSI(2) below 20 for daytrading.

I wonder what the result would be if I integrate all of this for my most recent going in with momentum criteria.

Long term uptrend (a golden cross backed up by volume, or has T3ML)
Short term downtrend ( price trading below the 8 ma, or a Bull flag)
Price close to the lowest line of an uptrending linear regression.
RSI(2) crossing up from below 20
Stochastics crossing up from below 20 (signal)
MACD crossing up near zero level (confirmation)
MACD histogram starting to form a mountain (for momentum).
MACD uptrending to confirm strength of uptrend.

Active in premarket
price trading at least 25 cents from the open.
positive net price.
Bid refreshing with 100 shares.
time and sales being filled with green prints (better if it's green blocks)
nice level 2 set up (ask thicker than bid)
multiple time frames uptrending.
AX leaving the offer.

Will be watching for these resistances to be broken:

Previous 15 minutes high,15 minute 8 ma, Previous hour's high,hourly 8 ma
Previous day's high, Daily 8 ma,Previous week's high,and weekly 8 ma.

Even better if the Fair value,Overall market,Sector, Industry, and Leading stock are all positive too.

[Ares]

FNSR just broke 3.80 and  trigerred my alert.
This would be going in my watch list because so far it has not met my most recent criteria for going in with momentum.

If this tanks, I'm looking at near 3.45 (200 ma of the 60 minute chart as of 12:20 ET)  if the 1 minute chart shows a momentum low entry.
By the time price hits the 200 ma of the 60 minute chart, the 200 ma might have risen above 3.45 already.

12:24ET
Looking  bullish so far though with blocks coming in at 3.81 on the green.

Hourly swing low entry would be at 3.79 with previous hour's high at 3.79 and low of 3.74.

Let's see which one works for FNSR.

1) Hourly swing strategy - entering at high of hourly swing low (after the hourly candle pullback,alert triggered, and 15 minute making a higher high above the 8 ma).

2) Buying low strategy - entering at the 200 ma of the 60 minute chart confirmed by a 1 minute momentum low entry.

3) most recent strategy - waiting to get in using the most recent going in with momentum criteria.

12:38ET
1st entry would be at 3.79 with a stop just below 3.74

14:07ET
3 month/daily linear regression is currently at the highest line with RSI(2) above 80 but another block trade just got printed on the green at 3.79.
Stochastics overbought (above 80) and MACD's fresh cross had been a while already.
Which one to follow - Indicators or time and sales?

14:11ET
A bigger block on the red just got printed at 3.80 - time to get out or will the market maker that took the order push it up first?
Did the market maker sell at the ask (block prints in green at 3.81 and 3.79) cover its short at 3.80 or did the buyer take a loss?
The challenge of clock watching is you have to stare at the prints and analyze it.
The challenge with reading level 2 is making sure you are reading the market maker correctly - otherwise, they'll shake you out of your money

14:32ET
Currently these are the levels I see on FNSR at the hourly chart.

High = 3.82
previous hour's high = 3.82
previous hour's low = 3.78
Support = 3.74
Support = 3.56
Support = 3.46596 (hourly 200 ma)

[Ares]

Looks like PRGX is heading for 14.20 (hourly 200 ma/resistance area)
The entry for this was 13.56 yesterday using the low line of the linear regression with RS!(2) below 20.
I overlooked  the resistance line in the hourly chart at 13.90
3 month/daily Linear regression/rsi(2) is not giving any sell signals yet.
Stochastics is below 20 but no MACD confirmation yet.
I wonder where the uptrend line will be validated.

15:57ET
Just recently saw PRGX hit 14.19 then pulled back, would have placed a sell on the offer in there since 14.20 is a round number but the 3month/daily chart of the linear regression/RSI(2) is not giving a sell signal yet.
Also noting that PRGX  also hovered at 13.90 before heading  for 14.20

[Ares]

ABAT

[Ares]

My entry in HOKU was at 6.40 ( where I got stuck for a while)
and yesterday at 6.17.
Today it went up as high as 6.59
I saw 6.55 as resistance and level 2 stopped showing a nice set up at around 6.57 - I didn't get out.
I really have to work on my exit.
I guess I'm still counting on the longer term trend to get me out.
So far, I see 2 points connecting the uptrend line (dark line) - I like the angle of attack of this trend line - not too steep.
I wonder where the 3rd validation point would be.


13.24ET
these are the levels I see on the hourly chart.
High = 6.59
previous hour's high = 6.42
previous hour's low = 6.38
Support = 6.28
Support = 6.10 (200 ma of hourly chart)

So far, MACD is still in positive territory.

A nice swing entry for this one would have been when the stochastics just crossed up from below 20 with a MACD cross(near the zero line) for confirmation.

[Ares]

FNSR
I saw this at 3.90 at pre market today and decided to get out since a lot of indicators were on the sell side.
3.79 entry with an exit of 3.89 would have given me a 10 cent profit.
next entry would be close to the 200 ma of the hourly chart (currently at 3.65)
Entered at 3.68 using a momentum low entry with first target of 3.80.

10:32ET
Looking at the 1 minute chart.
It has a steep downtrend that ended up with Big volume close to the end of the move close to the 200 ma of the hourly chart (3.65)and close at the high of the daily candle at 3.67.
went on consolidation
What I don't like is, it just broke the upper bollinger band on low volume (possible bull trap) and the 3 month/daily RSI(2)/Linear regression is close its highs.
Out at 3.73  for a profit of 5 cents.
This may go up.
For now I feel more comfortable getting in when the RSI(2)/linear regression are at its lows.

[Ares]

Found another comment that shows I'm not alone.

One main thing that we have to have is discipline,which most of us lack.We must have a plan and must stick to it.Problem is we see a Rosy stock pick making a 100% return and we move away from our plan,including myself.Greed factor kicks in and at the end of the year we find ourselves holding the bag and Granny and Grandpa who followe S&P have done better than us and they did not even looked at the screen whole year,Go figure

[Ares]

Here's a link to a fibonacci lesson that I found in YouTube.
http://www.youtube.com/watch?v=2-OXqME-pyI&mode=related&search=
http://www.youtube.com/watch?v=R6ft90FLI-I

I used to pay over $200 a month to get extra tools and services when I was starting out when I didn't even know how to use them properly (my wife was still working at that time).
Now that I have a better idea (but still learning) it's a little heavy on the budget right now.
Anyone knows where I could get it for free?

[Ares]

These are some of the strategies I like on the website I stumbled across:
http://www.visoracle.com/swingtrend/watch-tape.html
http://www.visoracle.com/swingtrend/gap-down.html

More strategies in the main page:
http://www.visoracle.com/swingtrend/secrets.html

[Ares]

PGLA down at least 22%
Would have been in at 8.01 bidding 1 cent above the 8.00 round  number for the momentum low because there was big volume outside of the lower band and it's sitting right on top of the hourly support.

The 1 minute chart also showed that the downtrend line charted from the 12.50 high has been broken.

The hourly chart is showing (selling) volume decreasing as price is decreasing.

next potential buy area if this fails is at:
Hourly 200 ma = 6.88
Daily 200 ma = 3.84
Weekly 200 ma = 2.46

Protective stop = 20 cents (because stock is over $5)
Trailing stop = 20 cents too

protective stop 8.01 - 0.20 = 8.81
1st trailing stop 8.39 20 = 8.19

What I don't like with PGLA is the RSI(2) being above 70

1:13ET
Out at 8.20  for a profit of ( 0.19 x 500 = $95 minus commssion) because it hit my 8.19 stop and there was some liquidity at the bid.

If this takes out 8.45 on volume though this coud go up.
Previous hour being a doji with a high of 8.45 and a low of 8.01

[Ares]

These stocks are currently near or below the lowest regression line.
I scanned the NASDAQ's premarket most declined expecting to see most of the stocks near or below the lowest linear regression line but was surprised to see that just a few of them were.
These were the one's I found and  will be going in my watch List. I will be glancing at them every now and then.
I will transfer them to my stalk list when other criterias are met.

The basic criterias I'll be looking for are:

Trading at least 2.5% above the open
Breaking previous hour's high with volume.
Positive net price
It would be nicer if it's breaking the previous week's high above the 8ema (I may even just wait for this before going in with momentum)


PCBC's current low is at 26.74.

SMTL's current low is at 10.35.

[Ares]

After doing some filtering, I find NLST interesting.
On NASDAQ's premarket most declined, NLST has only 390 shares trade so far.
The 200 ma is at 4.99.
There are 5 red candles in a row on the daily chart with today's  potential gap down on low premarket volume. Manipulation?
The weekly 200ma is at 1.65

[Ares]

Just updating my current paper trading account that started on February 5, 2007.

Currently this is what is showing.

Profit/Loss Realized total: $6,675
Profit/Loss Unrealized Total: (1,235.00)
Profit/Loss Total : $5,440.

Current positions still on the account are:
HOKU
LJPC
PRGX
SOFO
TSCM

I was not able to completely stick with my criterias when I started this thread (especially holding overnight) but I guess the longer term trend kept me on the game.

Got rid of PKTR because it was not with the longer term trend (but this may still continue higher)