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ecadaret

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  1. ecadaret

    Cad's Swing Trade Ideas

    Update: CRWD - Closed CRWD at an average of $9.67/share FB - Considering the market choppiness in it's range, i'm waiting to see what happens before making the play on FB. NFLX - I missed the opportunity to get short with Puts, it was a fast move and It would have been profitable. That's alright. More opportunities always out there. SQ - I got stopped out at $64.10. The stock is looking pretty dead to me now and I don't know if there is a bounce left in it in the short term. I am moving on from watching it until it makes a strong move up to >= $65.
  2. ecadaret

    Cad's Swing Trade Ideas

    Hi all, Stock: CRWD Today it broke above $95 and it's holding at previous resistance (now I suspect as support) just below $95 at $94.90 where it closed the day. It's a little extended from the rising 5-day SMA, but it's holding above the intermediate term (using 30-min chart here) SMA. During the market (market = SPX) sell off days between 8/1 and 8/7, it held up fairly well and tested and held $82.50. Since then it has continued to trend indifferent to the market. A few considerations for future price action: 1. Consolidate around $95 before breaking higher. 2. Pull back and test $88.5 - $92.50 level before breaking higher 3. Drop and retest $82.50 if the market has another steep sell off. Considering this stock has a unique niche in the cloud cyber security space, i suspect this may be a strong stock for a swing trade depending on how the market behaves as it has shown sensitivity to the market evident in the both 30-min charts for the past 30 days. Trading plan for CRWD: Currently in a position near the week low as I saw it was holding $82.50 as support and with the market making a clean "double bottom" pattern, it made a strong reversal. I plan to see what Monday brings to see what it does. Depending on what happens... 1. If the market doesn't have news that brings it down and it moves near the $2,940 - $2,950 level and CRWD is breaking above $97.50, take a 1/3 off and wait for a test to $94.90 to possibly add back to the position depending on price action and market activity. 2. If the market does have news that brings it down and moves back to $2,900 and CRWD trades with market or continues to consolidate around $95, take a 1/3 off and wait to see if it drops and retests $88.50 - $92.50. I'll re-evaluate from there. Always a good thing when using the houses money to finance another A+ trade. Charts for reference: Stock: FB On the daily chart, it's making higher low's and higher high's since Dec 2018. On the 30-min chart, the 5-day SMA (yellow) is almost flattened out and the stock is now above. This seems like a possible long swing trade that is manageable with Options. It may have a pull back to $185 which is where it makes the most sense to take an entry with a favorable risk:reward ratio/setup. Trade plan Long: Wait for pull back to $185 and then put on a synthetic long of 2 contracts to play it for a push back to $200 with a 45-day expiration. If it drops to $181, take 1/2 off. If it moves up to $200, take 1/2 off and re-evaluate. Stock: NFLX On the daily chart, it seems to be holding the $300 level. The drop out candle at $300 seems isolated and the support level is around $307. This is not the best setup since it can go either direction, but the buyers seem somewhat keen to hold it up. The stock is above the 5-day SMA, but it's still declining and on the 30-min it's still making lower highs and lower lows. The recent market sell off seems to be contributing to the current price action. Trading plan Long: If the stock can break above $317, it seems that it would make a move back up to $330 and possibly $350. I would put on a regular slightly OTM bull call spread with a 45-day expiration. Trading plan Short: If the stock breaks $300 again, i would put on a slightly OTM bear put spread with a 14-day expiration and would cover fairly quickly since it'll likely have $5-15 move. Stock: SQ Square had surprise earnings beat, but suffered a large down move because of the market. It's in a oversold condition that if the market recovers and continues to move up, has a great risk:reward setup. Even with the large down move, it still is consolidating at a price that makes it a higher low on the daily chart. the 5-day SMA is in decline and the stock is trading around it, but since it moved so strongly with the market, it's showing similar characteristics. If the market makes a move, SQ will likely make a similar move. Trading plan Long: Currently in a synthetic long spread at $64.65 with a Stop set at $64.10. Plan to take partials at $68, $70, and all out at $75. May add back to position with Options or just common stock depending on price action testing previous resistance levels that recently became support and play for a swing move back to $80 depending on how market trades. Lot's of info here, but if you can provide any feedback Brian, that would be appreciated. I am particularly interested in your thoughts on FB and SQ. I also welcome feedback from anyone in the community. NOTE: Synthetic spreads are ADVANCED option strategies. If you are a newbie, I don't recommend them. Better to go for cheaper OTM calls or put spreads that meet your risk tolerance. Hope all is well -Cad
  3. I'll be there. I look forward to meeting you William H and the rest of the group.
  4. ecadaret

    ‘Reading the tape’

    I use the Tape to exclusively to trade momentum plays, especially opening range plays. When i don't use the Tape, i usually don't trade well. The Tape is much more useful than the Order Book as a lot of manipulation occurs there, although it does have some value if you know what to look for those manipulations occurring. The Tape is the actual (note we can't see darkpool activity so it's not completely "actual") supply and demand driving the price where it goes so understanding how to read it is really useful. It gives me clues where to take profits and when to stop out if my original targets/stops don't seem like they'll be hit so i can risk manage a bit better. As Lee W pointed out, SMB has good videos on this. If you want to learn how to read it, record your screen on a few stocks and don't trade. Just watch it and look at the charts at the same time and focus on the speed, print colors (above ask, at ask, in between bid and ask, at bid, below bid), and the patterns. Especially pay attention in consolidation areas vs. strong moves vs. staircase moves. Take notes and watch your recordings a few times over. It'll start to make sense over time.
  5. Hi all, I am curious if briefing.com is worth it for the In Play and In Play Plus subscriptions. I know some brokers provide In Play as part of what you get, but unsure which ones of those they are. Any insights into this would be helpful. I am currently working on developing a more well-rounded evening and morning routine for earnings season in general.
  6. Yep. We'll see if it fails to break above or fakes out and breaks lower. If it doesn't fail or fake out, then it'll be interesting to see how much more it goes. What concerns me is the slowdown and then the drastic pickup in economic data. When things whipsaw like that in light of the tight labor market etc., it signals caution to me. Also the rebound is steep and so i still suspect around 50% retracement. I'm currently short term swing trading with options at the moment until i see a clear break lower then i'm going to go aggressively short like i did in October and December and then wait for the trend to develop downward, if any.
  7. ecadaret

    Newly Proposed Wall Street Tax

    Hi all, I saw this article yesterday. The tax is fairly minimal, but what i think is silly is that it taxes all traders and it blames "high frequency trading" for the volatility of the market. We all know that the markets are volatile because of institutional traders making their moves and that is what drives the prices in significant ways. Everyone else joins in for the ride and try's to capitalize. I am not sure if similar bills like this have been proposed in the past (i am sure it has). Curious what ya'll think. https://finance.yahoo.com/news/lawmakers-introduce-bill-to-tax-wall-street-211353714.html
  8. Common VOIP that is being these days is Discord and as far as i know, it's free. I am also interested.
  9. Hi all, Want to see what everyone is thinking on the market direction. To me, i view it as a Triple Top and we are in the Distribution Phase of the market cycle and i think we likely will be heading lower and still in a bear market. Also, the S&P is hitting the 2800 area level for the fourth time in recent months and it's proving to again be resistance. If you look back into early 2018, we see this level multiple times again. Lastly, V-shape moves are rare and generally speaking, there is a retrace to 50% and can continue lower after some consolidation. Thoughts?
  10. Hi all, I think it would be helpful if we pool together our knowledge of trading education seminars, conferences, and online classes outside of BBT that people found/know of that are worth everyone time. I know for those who trade through their own S-Corps these would all equate to tax write-offs which has tax advantages. I'll start off with google searching results, but I am not knowledgeable on these so I'm hoping for those with experience and their input. Conference: https://conferences.moneyshow.com/tradersexpo-las-vegas/ Courses per topic: https://www.investopedia.com/articles/active-trading/061214/best-daytrading-schools.asp
  11. What are you using for your trading analysis?
  12. Hi all, I am curious if i finalize my watchlist if i can in turn set that list into my Trade Ideas and so the scanners (Turbo Breakup, etc.) only show the data coming in from those on the list. Any help or tips would be appreciated. Thank you! -ERik
  13. ecadaret

    LOS ANGELES - Meet Up

    I am not opposed to the current location. If we did move it to be more near LA, I think there are lots of options in Anaheim or Long Beach that would shave off 30 mins for the LA folks.
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