Traders,
As always, I look forward to sharing my Watch List for the upcoming week with you all.
Now, some weeks I will have a bunch of ideas I’m excited about. On the other side of it, as I head into this week, there’s not too much I love just yet.
As such, especially with earnings season just around the corner, it’s a wait-and-see tape. Specifically, letting recent pullbacks and bases further develop and tighten, providing cleaner, more straightforward opps from a swing perspective. From an intraday perspective, it’s much the same as I have recently gone over in IA meetings with trade examples: being in the right stocks intraday (stock selection is everything in a choppy tape) and identifying the 1 or 2 easy-money setups and trades for the day.
So, although the list is narrow this week, let’s get right into it!
Continuation/Consolidation Breakout in AAPL: Over the past week and a half, AAPL’s relative strength has been remarkable. Last week I thought the stock did a great job of digesting its major upmove on 7/2 and consolidating near its ATH. As such, there’s now a pretty straightforward setup.
If AAPL takes out Friday’s high via an ORB, I’ll look to get long against the LOD for continuation and a higher-timeframe breakout. Alternatively, if it grinds above that level, I’ll look for an intraday setup or volume to build above that level, with time spent above VWAP, and then position long against the LOD for a long swing.
*Please note that the prices and other statistics on this page are hypothetical, and do not reflect the impact, if any, of certain market factors such as liquidity, slippage and commissions.
Here are a few more names I’ll be monitoring for the upcoming week that have a bit more to prove before I consider a position:
DELL: I’d need to see this build above 450s intraday and a breakout of an intraday consolidation / HOD before thinking about entering long for a multi-day swing. In the meantime, just alerts set on the name.
*Please note that the prices and other statistics on this page are hypothetical, and do not reflect the impact, if any, of certain market factors such as liquidity, slippage and commissions.
DDOG: Building out a base near recent 52-week highs. Another larger-cap I’ll have alerts set in, in case it continues to build and edges near the 270ish breakout zone for a potential swing long.
*Please note that the prices and other statistics on this page are hypothetical, and do not reflect the impact, if any, of certain market factors such as liquidity, slippage and commissions.
SPCX: If SPCX holds weak and then breaks below the 145 key level, I’d look for an intraday short. Strictly an intraday momentum trading vehicle at this point.
*Please note that the prices and other statistics on this page are hypothetical, and do not reflect the impact, if any, of certain market factors such as liquidity, slippage and commissions.
CCXI: Monitoring whether 15 continues to hold up as developing support. If the range tightens, and this either undercuts 15 and reclaims or holds above 17, I’ll be positioning long against the low.
*Please note that the prices and other statistics on this page are hypothetical, and do not reflect the impact, if any, of certain market factors such as liquidity, slippage and commissions.
And that’s it, folks!
Not a whole lot to write home about this week. And that’s fine – not every week will be filled with major potential opportunities (heading into the week)… but as always, that can change at a moment’s notice, and so as always, I’ll be in my seat ready to react if something great shows up. But until then, the focus is on stock selection, not overtrading, and being patient and disciplined! Good Luck