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  • #41
  • Oct 15, 2011 1:49pm Oct 15, 2011 1:49pm
Quoting XTrade
Just being lazy here sorry, what is CPX? I see it says Complete Production Services.

Looks like an interesting break, / gap. Did you catch the Gap?
Hi there,

CPX is the symbol of a NYSE listed stock called Complete Production Services. The chart above is for free from www.freestockcharts.com

As per your question, yes I did catch the move, right after the 2 inside day breakout. Setups like these are rare, I use www.finviz.com to scan for them making my life much easier. All information on the stock can be found on the same site, you will find fundamental, technical and descriptive information on any of the +7000 stocks.

Enjoy!

Split
  • #42
  • Oct 15, 2011 1:54pm Oct 15, 2011 1:54pm
Here is why CPX gapped not that it matters to me cause I day trade it.

http://finance.yahoo.com/news/Law-Of...28901.html?x=0
  • #43
  • Edited 2:15pm Oct 15, 2011 2:03pm | Edited 2:15pm
Will read link now read, stopped being lazy and pulled these to supplement I figured it was in the "oil field."

edit: Here's the link

http://www.marketwatch.com/investing/stock/cpx/profile
Attached Images
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #44
  • Oct 15, 2011 2:30pm Oct 15, 2011 2:30pm
Quoting XTrade
Will read link now read, stopped being lazy and pulled these to supplement I figured it was in the "oil field."

edit: Here's the link

http://www.marketwatch.com/investing/stock/cpx/profile
Excellent! If you want the sector for this stock check out XLE & XOP, both of em highly correlate with CPX. CPX is just one stock, I can show you my scanning process if you want through finviz.
  • #45
  • Oct 15, 2011 2:43pm Oct 15, 2011 2:43pm
Here's one of my scans done in my premarket homework . I do several of these to identify potential setups.

To get to this page in FINVIZ simply go to www.finviz.com --> Screener --> All

I like to see stocks that trade over a million shares a day for liquidity reasons and stocks that are over $10 cause cheap ones are usually cheap for a reason. I also trade stocks that are over $10 as they have a higher ATR than the cheaper stocks. I also like stocks that move over $.75 a day I dont like dead slow stocks that hardly move, watching those kind of stocks is like watch grass grow. Last in this scan is Beta, a beta of over 2 is my preferred option, if your wondering what Beta is you can check out this link

Inserted Video
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  • #46
  • Oct 15, 2011 3:38pm Oct 15, 2011 3:38pm
Well, you've got my attention already, I don't really trade stocks, but I would
like to learn more and add to the bag of tricks, if you will.

I do follow the major indices a bit to look at correlations and money flow in relation to risk, Gold, (& metals) and currencies.

I have to read back a bit now.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #47
  • Oct 16, 2011 4:20am Oct 16, 2011 4:20am
Quoting XTrade
Well, you've got my attention already, I don't really trade stocks, but I would
like to learn more and add to the bag of tricks, if you will.

I do follow the major indices a bit to look at correlations and money flow in relation to risk, Gold, (& metals) and currencies.

I have to read back a bit now.
Hi XTrade,

Personally, I prefer trading stocks to currencies and commodities. The beauty to trading stocks US stocks in particualar is that you can trade commodities and currencies through stocks, you can do this in two ways you can either trade commodity stocks individually or through ETF's (Exchange traded funds).

When I am interested in gold for example, I don't buy and sell through futures, I buy the strongest gold stock in comparison with the sector ETF. How do I do this?

Mainly through two websites, the first is finviz. I first open the scanner, next the industry I insert gold which gives me a list of 51 gold companies.I then filter those stocks using my criteria, once this is done I get a smaller list of stocks. I then click on the performance tab and assemble it according to week,month,quarter,year or YTD. For instance if I sort it according to month I get a stock called Newmont Mining Corp.

To find out the sector that correlates the most with my NEM, I use a website called http://www.market-topology.com which is free. All I have to do is insert the stock and watch for what correlates the most in a list of stocks and ETF's. The result of the search on NEM would be GDX ETF which has a correlation of 84.47%.

Once my stock and sector are clear, I trade my gold stock (NEM) in accordance with its ETF (GDX) and the spot gold in general. I also trade the stock only when a setup from my trading system is present. This entire process is to trade the best possible stock in gold in accordance with the gold, mainly to gain an edge.

The gold sector is just one sector in the market, many more ''uncorrelated'' sectors and instruments are present in the NYSE and NASDAQ markets making it possible to trade the hot hand when ever one is identified.

I hope this helps and sparks an even farther interest in stocks. Should any questions arise, feel free to ask.

goodluck with your trading,

Split
  • #48
  • Oct 19, 2011 12:08pm Oct 19, 2011 12:08pm
SPY or S&P 500 ETF is heading south should 122.00 crack, I would then look at 119 as a final confirmation that this thing is head down. A breakout and hold above 123.50 would invalidate my idea.
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  • #49
  • Oct 19, 2011 12:15pm Oct 19, 2011 12:15pm
Breakout imminent in CPX whether its a fails remains a question given the possible breakdown in the market.
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  • #50
  • Oct 28, 2011 5:04am Oct 28, 2011 5:04am
Heres one of my setups for today in X (US Steel Corp), on the daily chart we have resistance and the 50 SMA at $25.00, we also have 3 continuous days of ultra high volume right below the breakout level. Looking at the hourly, we can see where that volume took place, with most of it being at the 50% retracement level.

Should we get a lower open today, I will wait for 25.00 to be tested and breached to enter long. If we open higher, I want to see prices hold in the first 10 minutes before going long.

X correlates very highly with XLB (Basic Materials ETF) at 81.97% and is also about to take out its pivotal $36.00 level. Should it breach the level, I would expect to see follow through in X. It should be interesting to see how this plays out.
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  • #51
  • Oct 28, 2011 11:46am Oct 28, 2011 11:46am
Quoting split_unit
Heres one of my setups for today in X (US Steel Corp), on the daily chart we have resistance and the 50 SMA at $25.00, we also have 3 continuous days of ultra high volume right below the breakout level. Looking at the hourly, we can see where that volume took place, with most of it being at the 50% retracement level.

Should we get a lower open today, I will wait for 25.00 to be tested and breached to enter long. If we open higher, I want to see prices hold in the first 10 minutes before going long.

X correlates very highly with XLB (Basic Materials...
Well, it snapped up as expected moving from $25.00 to $27.00 in 3 hours, thats equivilant to 200 pips in FX ...Bingo...
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  • #52
  • Oct 28, 2011 11:53am Oct 28, 2011 11:53am
Quoting split_unit
Well, it snapped up as expected moving from $25.00 to $27.00 in 3 hours, thats equivilant to 200 pips in FX ...Bingo...
At the time of this amazing move in X this is what the EUR/USD gave us... chop fest
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  • #53
  • Oct 30, 2011 1:01pm Oct 30, 2011 1:01pm
Some of the setups I have prepared for Monday, I have a list of 20 setups and heres three:

1- NVDA Mini cup and handle pattern here about to breakout.

2- SNDK 7 month range on the verge of being taken out at a round number 53.50

3- COG possible fade at 81.00 (underline, highlight and put a circle around the wordpossible fade) I will fade it only if opens above yesterdays close and provides me an intraday reversal pattern after an opening push higher. I want to see buyers lose momentum before taking a low risk short with my stops clearly defined (above the high). This trade is pretty contrarion, I dont expect people to agree with it.

Best of luck with your trading!
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  • #54
  • Nov 16, 2011 10:52am Nov 16, 2011 10:52am
Well heres my play of the day, I had taken a screen shot of this perfect opportunity before the open (first chart) and what happened after the open (second chart). All I can say is that it played out pretty nicely and still has room to go.
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  • #55
  • Nov 17, 2011 2:25pm Nov 17, 2011 2:25pm
SWN
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  • #56
  • Nov 18, 2011 11:02am Nov 18, 2011 11:02am
subscribed.

i will follow with interest.

thanks
meine augen sind die sterne
  • #57
  • Nov 19, 2011 6:39am Nov 19, 2011 6:39am
Quoting aserbfx
subscribed.

i will follow with interest.

thanks
Awesome! Nice to have you aserbfx, I hope you find my posts useful.
  • #58
  • Nov 19, 2011 6:55am Nov 19, 2011 6:55am
Here's one of the setup for monday...its all about preparation
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  • #59
  • Nov 19, 2011 7:15am Nov 19, 2011 7:15am
Another one of my setups for Monday, this ones a screaming long.
Attached Image (click to enlarge)
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  • #60
  • Nov 20, 2011 9:56pm Nov 20, 2011 9:56pm
Key SPX levels for today 1223.50 - 1211.00 (Inside day) Watching where we open while being aware of premarket highs and lows are critical in determining the todays direction.
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