{"id":56676,"date":"2023-11-05T13:43:33","date_gmt":"2023-11-05T18:43:33","guid":{"rendered":"https:\/\/www.smbtraining.com\/blog\/?p=56676"},"modified":"2024-12-11T16:23:20","modified_gmt":"2024-12-11T21:23:20","slug":"the-weekly-trade-plan-top-stock-ideas-in-depth-execution-strategy-week-of-november-6-2023","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/the-weekly-trade-plan-top-stock-ideas-in-depth-execution-strategy-week-of-november-6-2023","title":{"rendered":"The Weekly Trade Plan: Top Stock Ideas &#038; In-Depth Execution Strategy \u2013 Week of November 6, 2023"},"content":{"rendered":"<p><b>Happy Sunday, Traders!<\/b><\/p>\n<p><span style=\"font-weight: 400;\">Alright, I\u2019m back in the U.S. after almost a month of traveling and spending quality time with family and friends. I\u2019m feeling refreshed and revving to get stuck back in.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">So, without rambling on, let\u2019s get right into it, traders. I want to start this week\u2019s watchlist and review with a quote by famed economist John Maynard Keynes.<\/span><\/p>\n<p style=\"text-align: center;\"><b><i>\u201cMarkets can remain irrational longer than you can remain solvent.\u201d<\/i><\/b><\/p>\n<p><span style=\"font-weight: 400;\">Why have I put this in here? Well, as you probably already know, the market \/ SPDR S&amp;P 500 ETF Trust (NYSE: SPY) closed the week up almost 6%. 6% up in a single week. That\u2019s not a common occurrence, traders.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">From chatting with other traders and gauging sentiment and opinions on X (Twitter), many traders got burnt last week by fading the market because it was simply up too much.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Before we get into ideas and plans, I am dropping the above quote as a reminder. The market doesn\u2019t care what you think. Often, If I think I can outsmart the market, it will quickly teach me a harsh lesson.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">So, here\u2019s a reminder for you and myself:<\/span><b> Respect price action, be open-minded, seek edge and confirmation.<\/b><\/p>\n<p><b><i>A Snapshot Review of Last Week\u2019s Ideas<\/i><\/b><\/p>\n<p><span style=\"font-weight: 400;\">I won\u2019t spend time on the bounce idea in the overall market or, more specifically, the QQQs from last week. While it played out, and it\u2019s a brilliant opportunity to review, it\u2019s been covered and reviewed by many online already.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">So, let\u2019s briefly go over the idea in HUBC and understand it better. I outlined multiple different outcomes and setups, and the final short idea I had played it perfectly. Please refer to last week&#8217;s watchlist to better understand my thoughts on the stock and setup.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\"><img loading=\"lazy\" decoding=\"async\" class=\" wp-image-56679 aligncenter\" src=\"https:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2023\/11\/hubc-stock.jpg\" alt=\"\" width=\"666\" height=\"383\" srcset=\"\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2023\/11\/hubc-stock.jpg 863w, \/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2023\/11\/hubc-stock-300x172.jpg 300w, \/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2023\/11\/hubc-stock-768x441.jpg 768w, \/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2023\/11\/hubc-stock-610x351.jpg 610w, \/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2023\/11\/hubc-stock-100x57.jpg 100w, \/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2023\/11\/hubc-stock-846x486.jpg 846w\" sizes=\"auto, (max-width: 666px) 100vw, 666px\" \/><\/span><\/p>\n<p>*<i>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.<\/i><\/p>\n<p><span style=\"font-weight: 400;\">After breaking above resistance, the stock failed to base above and, within just a few hours, traded back into the range. That move confirmed a false breakout, a.k.a Stuff Setup, and trapped longs. This is one of my favorite short setups.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Per the watchlist, once the stock confirmed the stuff and traded back near the low end of the range, it provided multiple pops \/ lower highs to enter the short swing, risking to $0.80, and a couple of days later, the stock traded into the desired target area.<\/span><\/p>\n<p><b><i>A Pullback in the QQQs<\/i><\/b><\/p>\n<p><span style=\"font-weight: 400;\">While I was long-biased last week after I felt the market was a bit stretched to the downside in the short term, I can\u2019t help but feel the same in the opposite direction now. QQQs were up almost 6.5% last week and have traded close to an important resistance area.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This is a highly conditional idea and one I will only act on if it matches my criteria and provides a well-defined level to risk against.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\"><img loading=\"lazy\" decoding=\"async\" class=\" wp-image-56677 aligncenter\" src=\"https:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2023\/11\/qqq.jpg\" alt=\"\" width=\"666\" height=\"434\" srcset=\"\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2023\/11\/qqq.jpg 779w, \/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2023\/11\/qqq-300x196.jpg 300w, \/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2023\/11\/qqq-768x501.jpg 768w, \/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2023\/11\/qqq-610x398.jpg 610w, \/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2023\/11\/qqq-100x65.jpg 100w\" sizes=\"auto, (max-width: 666px) 100vw, 666px\" \/><\/span><\/p>\n<p>*<i>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.<\/i><\/p>\n<p><span style=\"font-weight: 400;\">Sticking to its trend of making consecutive lower lows and lower highs, I am looking for the QQQs to confirm a lower high around $370 this week. If QQQs consolidate near this level, then there is no trade for me, and of course, if it breaks above $370 and holds or above the previous lower high of $373.73, there is no trade, and the idea is not valid.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, if the ETF pushes near the $370 area and fails intraday, then I will be on the lookout for a possible entry. A failure could be a new low of day and then holding under vwap, for example.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Things to keep an eye on for added confirmation and context: performance of top holdings of the QQQs (AAPL, AMZN, MSFT), relative strength\/weakness vs. SPY.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In the event of a confirmed lower high (on the daily), I would look to go short, risking against the high of the day (the lower high) and targeting a 50% retracement of the recent move (using $350 as starting point and $370 ending point), so around $360, for a multi-day swing trade.\u00a0<\/span><\/p>\n<p><b><i>Side Watches: EJH and IBRX once the trend breaks<\/i><\/b><\/p>\n<p><span style=\"font-weight: 400;\">Two names that have the potential to develop into solid 1 &#8211; 2 day swing shorts are EJH and IBRX. Both are fundamentally different companies, but from a technical point of view, I am looking for something similar to get short.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\"><img loading=\"lazy\" decoding=\"async\" class=\" wp-image-56678 aligncenter\" src=\"https:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2023\/11\/ibrx.jpg\" alt=\"\" width=\"663\" height=\"396\" srcset=\"\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2023\/11\/ibrx.jpg 748w, \/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2023\/11\/ibrx-300x179.jpg 300w, \/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2023\/11\/ibrx-610x365.jpg 610w, \/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2023\/11\/ibrx-100x60.jpg 100w\" sizes=\"auto, (max-width: 663px) 100vw, 663px\" \/><\/span><\/p>\n<p>*<i>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.<\/i><\/p>\n<p><span style=\"font-weight: 400;\">For IBRX, I am looking for the stock to fail on a breakout attempt over $4 or to break its uptrend and $3.5 and provide a lower high entry on a higher time frame to get short versus the high.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This is highly conditional, and I will only enter if it sets up per the above plan. Otherwise, I will avoid it altogether as it might chop around \/ squeeze out. My main target would be a move toward previous support at $3.<\/span><\/p>\n<p><span style=\"font-weight: 400;\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-56680 aligncenter\" src=\"https:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2023\/11\/ejh.jpg\" alt=\"\" width=\"667\" height=\"403\" srcset=\"\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2023\/11\/ejh.jpg 743w, \/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2023\/11\/ejh-300x181.jpg 300w, \/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2023\/11\/ejh-610x369.jpg 610w, \/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2023\/11\/ejh-100x60.jpg 100w\" sizes=\"auto, (max-width: 667px) 100vw, 667px\" \/><\/span><\/p>\n<p>*<i>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.<\/i><\/p>\n<p><span style=\"font-weight: 400;\">EJH is interesting to me because of the chart pattern and sustained volume. This reminds me so much of what OTC pumps look like; a steady and tight uptrend that eventually breaks and crashes 50 &#8211; 90% in a single day. Now, I\u2019m not sure if that is possible here, but from a technical point of view, it sure looks like it to me.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Therefore, I will have price and volume alerts set in this, looking for a $2 break and\/or heavy and consistent volume to enter intraday, which might signal that a liquidation play is about to occur. My target for this would be a move toward $1 within a day or two. Upon confirmation, I will short risking to the high of the day. I will have hard stops, as always, to avoid getting squeezed in the event it traps and potentially uses short covers as their exit.<\/span><\/p>\n<p><strong><a href=\"https:\/\/smbtraining.com\/blog\/smb-disclosures?_gl=1*352b1e*_ga*NjU4MzY5OS4xNjkwMDI4MDQ0*_ga_EQH1PLHMKM*MTY5NDk1NTI0Ny4zMy4xLjE2OTQ5NTUyNjcuNDAuMC4w\">Important Disclosures<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Happy Sunday, Traders! Alright, I\u2019m back in the U.S. after almost a month of traveling and spending quality time with family and friends. I\u2019m feeling refreshed and revving to get stuck back in.\u00a0 So, without rambling on, let\u2019s get right into it, traders. I want to start this week\u2019s watchlist and review with a quote by famed economist John Maynard &#8230; <a href=\"https:\/\/www.smbtraining.com\/blog\/the-weekly-trade-plan-top-stock-ideas-in-depth-execution-strategy-week-of-november-6-2023\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":2154,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1,5633],"tags":[],"class_list":["post-56676","post","type-post","status-publish","format-standard","hentry","category-general-comments-2","category-ryan-watchlist","no-post-thumbnail"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.1.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>The Weekly Trade Plan: Top Stock Ideas &amp; In-Depth Execution Strategy \u2013 Week of November 6, 2023 | SMB Training<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.smbtraining.com\/blog\/the-weekly-trade-plan-top-stock-ideas-in-depth-execution-strategy-week-of-november-6-2023\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Weekly Trade Plan: Top Stock Ideas &amp; In-Depth Execution Strategy \u2013 Week of November 6, 2023 | SMB Training\" \/>\n<meta property=\"og:description\" content=\"Happy Sunday, Traders! Alright, I\u2019m back in the U.S. after almost a month of traveling and spending quality time with family and friends. I\u2019m feeling refreshed and revving to get stuck back in.\u00a0 So, without rambling on, let\u2019s get right into it, traders. I want to start this week\u2019s watchlist and review with a quote by famed economist John Maynard ... 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Alright, I\u2019m back in the U.S. after almost a month of traveling and spending quality time with family and friends. I\u2019m feeling refreshed and revving to get stuck back in.\u00a0 So, without rambling on, let\u2019s get right into it, traders. I want to start this week\u2019s watchlist and review with a quote by famed economist John Maynard ... 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