How am I feeling? It’s a struggle today. But I can’t let any of that matter. In these next couple of hours, nothing matters but the market and the moves stocks are making and how I can participate, and take advantage of that action and movement. Nothing else matters. I know what I’m looking at, looking for, and where/how I’m going to enter and exit trades. I just need to find things I like.
Stay focused, don’t force anything, and make the best decision possible today. I’m going to look for day trades first thing this morning; I thought about swing-trading this afternoon, but it being so close to Christmas, I’m not sure how long I want to hold. That said, this entire week is a work week, so there should be volume, I’ll just need to make sure I exit whatever I get in to by the EOD Friday, so I don’t hold over the holiday weekend. We’ll cross those bridges.
Equities gapped down first thing this morning, and looked weak at the initial move, but right now, price is pushing up, just entered into positive territory, and nearly reaching yesterday’s close. It looks like price is bouncing/holding at this support level, but it’s not moving convincingly in either direction. I guess I don’t really have an overall market direction/bias, so I’m just going to look to see what might make a move/has a good, tradable pattern — but I’m not looking in any particular direction.
We’ll see what’s out there, I’ll revisit with the individual stock analyses. I’ve got 7 shorts to look at. My screener pulled up ~60, and I got through about 20 of them (sorted by volume) and these are the 7 I like best so far. I might revisit my screener, but hopefully, I find some great opportunities here.
F – Short – This looks decent. It had a bit of whipsaw action at the open, pushed to a day’s low again, steadily pushed up to some resistance, based a bit, and is now pushing down again. I was actually going to entertain the idea of getting in at that small base, but it’s already broken that. I’ll keep an eye on this to see if it gives another entry signal, but it wasn’t my favorite regardless
LCID – Short – I thought this gapped up and looked promising to come back down, but it’s held on to a lot of that strength. It’s been down overall, too, so I’m not interested in looking at this long here. I’ll hold off, as it looks extended to the upside. Maybe there’ll be opportunity to short this later/tomorrow, but I don’t like it right now
WFC – Short – I don’t know if this spiked between adding it to my list and revisiting to analyze or what, but this doesn’t look like a great short opportunity right now at all. It’s been pushing up over the last couple of days and — actually, this spiked up and wicked into some resistance, but doesn’t appear to be holding that strength. This might be able to make it back to the low/support area, but there’s a lot of wild movement here. I think I just want to leave it alone — it’d feel forced if I pulled the trigger here anywhere
BAC – Short – This gapped up this morning, but overall has been weak. It gapped into some resistance, and seemingly isn’t able to break that area. I wanted to short this back to the short side, but there’s a lot of whipsawing going on here as well. I don’t see anything tradable here, so I might revisit — chances are, though, I’ll just leave it alone
VZ – Short – For the last 3 days, price has reached the support level it reached today, left a wick down there and traded above that price (while still remaining down on those days). Today looks similar — it’s down, it wicked through that support area, but is trading above it right now. With all of this downward pressure, it would make sense that it would break at some point, and while I don’t exactly see a pattern on the 5 min. chart, it’s double-topping right now, and could offer something in the near future. It’s not amazing, but it’s my favorite chart right now, I think I might keep my eye here, looking for an entry signal
LUMN – Short – This has been down overall for a while, despite a slight rally during the first half of this month. Since then, price has pushed down, but it’s near the support area it made before making the rally. That support area makes for a decent target, but price is making a bit of a push up today, and looks like it’s holding some strength. It’s also, essentially, a penny stock, too, so I think I’ll just leave this alone
CSCO – Short – Just looking at the 4h chart, I like this the best of all of the stocks I’ve looked at. It’s sitting RIGHT ON some support and there’s a good amount of room to the next support level. There’s a (admittedly relatively large) rally happening on the 5 min. chart, but it’s reaching some resistance and could be a good entry area if it starts to push back down. I’ll run some numbers here right away