$STVI has not really exploded like I thought it would have by now. After the weakness it has shown today, its a sell below today's low or at $3.05.
$EEE it is clear that the markets are still not ready to go lower and $EEE looks the same. This is a cover above $4.00 - $4.05.
$CHGS triggered a buy right off the open and ran up beautifully on good volume. As a matter of fact, I took this trade in my ThinkorSwim paperMoney account since I am not yet live. Got in @ $3.35 with a stop @ $3.25. The stock acted perfectly, however, the weakness in the markets around 3:00 ish shook me of the position for a small gain. (Have to learn to ignore twitter!) Other wise this would have been an easy hold. In fact I should have never sold this stock since it never went red after my entry! So this stock is a hold if you weren't shaken out. I would have re-bought into the close except that I was not at the computer.
$ALJ never did what I wanted to see and so no one should have shorted this. In fact, this stock looks like it wants to squeeze higher! Were I a day trader I would looking to get long this above $9.75.
The markets are very extended in all time frames at this time. However, until it clear shows that it wants to go lower we should stick with the trend! None the less, we need to be quick on the trigger in case another "flash crash" were to happen. On to the watch list:
$SCON, $REFR will be looking for breaks of $2.64 and $9.40 respectively for long swings. However, I would not recommend holding these for more than two days preferably looking to exit during the morning of the second day. Also I would not take these trades unless the LOD (stop loss level) is close to the entry price.
$TA this is the only out and out swing trade set up on my watch and favorite set up. Traded this one today in my paper money account. Bought @ $12.48 in anticipation of the break out of $12.50, never broke and was stopped out @ $12.26 for a small loss. Will be looking for the same break out tomorrow with a stop @ the LOD.
So in my paper money account I am 100% cash and now down $820.00 ex. commissions due to $880.00 loss in $TA and $60.00 profit in $CHGS on a $200,000.00 account. Were I really trading a $2,000.00 I would only have 1 day trade left. So it is very difficult for me to simulate what trading would really be like for me at the end of the month. None the less it is far better than nothing and I have learnt a lot about my self from today alone after being out of the saddle for a few months now.
Hope you find this post useful.
Good luck and good trading!