#$halo

[dragonflycap]

5 Trade Ideas for Monday: Boeing, CBOE, FedEx, Halozyme and Sealed Air

5 Trade ideas excerpted from the detailed analysis and plan for premium subscribers:

Boeing, Ticker: $BA

Boeing, $BA, comes into the week pressing on resistance. It has a RSI trying to move higher in the bearish zone with the MACD crossed up but negative. Look for a push over resistance to participate…..

Cboe Global Markets, Ticker: $CBOE

Cboe Global Markets, $CBOE, came into the week back at support. It has a RSI dropping from the midline with the MACD negative. Look for a drop through support to participate…..

FedEx, Ticker: $FDX

FedEx, $FDX, comes into the week pressing against resistance. It has a RSI rising out of oversold territory and a MACD negative but rising. Look for a push over resistance to participate…..

Halozyme Therapeutics, Ticker: $HALO

Halozyme Therapeutics, $HALO, comes into the week making a 2 month high. It has a RSI rising in the bullish zone and a MACD positive and moving higher. Look for continuation to participate…..

Sealed Air, Ticker: $SEE

Sealed Air, $SEE, comes into the week pressing on resistance. It has a RSI moving higher and a MACD climbing but negative. Look for a push over resistance to participate…..

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After reviewing over 1,000 charts, I have found some good setups for the week. These were selected and should be viewed in the context of the broad Market Macro picture reviewed Friday which heading into October options expiration and the height of earnings season, saw equity markets continue to look better to the downside.

Elsewhere look for Gold to continue its move lower while Crude Oil reverses the lower killing the short term trend higher. The US Dollar Index continues the trend to the upside while US Treasuries continue their downtrend. The Shanghai Composite has morphed to a short term trend higher in broad consolidation while Emerging Markets continue the long trend lower.

The Volatility Index looks to remain elevated making the path easier for equity markets to the downside. Their charts look on both timeframes. On the longer timeframe both the IWM and SPY building flags, look a bit stronger than the QQQ which continues to drive lower. On the shorter timeframe the charts continue to move in tandem. Use this information as you prepare for the coming week and trad’em well.

[estimize]

[Podcast] Estimize Roundtable: Winners and Losers of the Health Care Reform Breakdown

This week on the Estimize Roundtable, Estimize’s CEO, Leigh Drogen, and SVP of Media, Christine Short, are joined by Joe McCann, the CEO and Co­Founder of Slingshot Insights and Nick Colas, Chief Market Strategist at Convergex. With the failure to pass health care reform two weeks ago, the roundtable talks about where we go from here, who the biggest winners and losers of the breakdown are, the general state of the health care industry, and which names to watch this upcoming earnings season.

Be sure to subscribe to the Estimize Roundtable on iTunes!

[mikebellafiore]

3 ideas to improve waiting for your trades

Yesterday I wrote about the #1 trading frustration of top traders on our prop desk.

(#1 issue top traders want to fix in 2017 on our prop desk.)

Today let’s offer 3 ideas to solve this frustration:

1. Journal your progress on waiting for setups.  When are you successful waiting for setups? When are you early to enter and why? Patterns will emerge, when you are tracking this specific goal.  A better understanding from tracked data on this issue will help you improve.

For example, many traders are too aggressive trading on Mondays.  They are so hyped up to show the market how they will improve on Monday that they force trades.  Seems silly.  But this is what the data shows.  After gathering, now many traders know to watch for forced trades on Monday.  They know they need to prepare to calm down and wait better on Mondays.

2. Develop your PlayBook.  Archive the variables of your best trades.  Review these trades.  This helps you internalize your favorite setups  so you can just execute in real-time.  You now know exactly what comprises your best trading with a PlayBook.

When you understand exactly what makes up your best trades, it is easier in real-time to wait for the entry.  In real-time when you recognize a few variables are missing because of the work you have done outside of market hours identifying your best trades, it will be easier to wait.

“No the trade is not quite here yet,” you will self-talk.

Your gains come from executing on your PlayBook.  They do not come from pulling the trigger on trades missing variables from your PlayBook.

3. Talk to other traders.  Friday I noticed a Junior Trader near tilt.  I asked him if he wanted to join me for a walk to grab a drink.  During our walk, we started talking about a trade I had muffed.  And a stock that was getting him to talk under his breath in frustration.  During our walk, the Junior Trader identified a pre-market resistance level in OPK that I had undervalued.  It helps to talk things out and hear the perspective of others so you capture the essential facts of trades.

Reviewing trades just from your perspective may be insufficient, particularly for active traders.  If you journal incomplete trade descriptions, then your reviews will not be impactful for improvement.

Our goal in 2017 should not be to completely eliminate entering early.  Trading is a game where we will always make mistakes.  But if we can make these mistakes less often, and if we can cut them faster in real-time, we can make real progress.

The key is to do the work above, stick with it, and give improvement time.  How much better can you improve waiting for setups in Q1?  Not how much better can you get at improving waiting for setups the first week in January.  The elite traders track the former.

Happy New Year!

*no relevant positions

[mikebellafiore]

#1 issue top traders want to fix in 2017 on our prop desk

It’s the end of the year, and time for trading business plans for 2017 from the traders on our desk.

When viewing the trading plans of our best traders the issue that repeats the most to fix in 2017 is……..

Waiting for the setup!

These are highly profitable traders, and even some seven-figure traders.

These are experienced traders who have shown a history of success and consistency of edge in different market environments.

Repeatedly the issue most top traders on our desk struggle with is forcing trades.

There can be a fine line in some cases from seeing the trade then putting on size and forcing the trade.  And in our active trading game this might be a matter of minutes or even seconds depending on trading style.

It is hard to trade with size if you do not wait for the entry as opposed to get out in front of the entry.  It is hard to be consistent if you do not wait for the entry as opposed to get out in front of the entry.  It is hard to hold for the real move if you enter early as opposed to seeing the trade and then striking.

This is what our top traders are working on on our desk in 2017.

Happy New Year!

You can be better in 2017 than you are today!

*no relevant positions

[najarianbros]

What We're Trading

BBY - Best Buy beat on bottom line, missed top line, but shares holding 1/5% gain here.

C - Announced it plans to sell subprime lending unit Onemain Financial for $4.25B, shares up 1% in the pre.

DKS - Dicks beat EPS forecasts by 8 cents on stronger revenues, and even lowered guidance unable to derail a nice nearly 3% rally in the pre.

HALO - Halozyme beat EPS forecasts by 3 cents on stronger revenues, shares up 3% here.

MDR - McDermott beat EPS forecasts by 9 cents on stronger revenues & raised guidance, shares up over 28% in the pre.

SSI - Stage Stores beat EPS forecasts by 2 cents on inline revenues, shares up nearly 7% in the pre.