I was going to day trade today, but I got up late and didn’t get to the charts until after 9, so I wasn’t able to really get ready, so I did nothing. And I’ve done, essentially, nothing since. I’m going to really try to work on this long(er)-term play, and implementing that for the rest of the day. I can call it when I’m done and watch a movie or something.
STNG – Long – This week, this has been down, but that might be all the more reason to get into it. It’s been pushing up all year, and on the daily chart, with price pulling back, it looks like energy is building. And, with it on a retest right now, I might be able to get in at a much better price. I think I like this one a lot, we’ll see how the rest of them look
FSLR – Long – This looks pretty solid, but might be extended. It’s been pushing up strong since August, pulled back roughly 1/3 through most of October, then from the end of October through the beginning of November, pushed up even stronger; but had a pullback again at the beginning of the month and has yet to get to those highs again. Right now, there appears to be a lot of indecision, too, as the day is currently sitting right near the open. It’s near price it hasn’t reached since 2011, so I think that speaks to the strength, but there’s also a pretty strong area of resistance from back in ’11, too. I don’t hate this, but it’s not my favorite right now, either.
SLB – Long – This has been pushing up, essentially, since Covid started. It’s been a relatively steady move to the upside, with some large moves and decent-sized pullbacks. Over the last month or so, this has been on a tear again, and is up near prices from ’11. This is largely an oil stock, from what I can glean, which isn’t something I’m super excited about for the future (despite the chart’s performance — it also looks fairly extended, so I’m not sure I even like it from that perspective much), coupled with the fact that it was getting pummeled before Covid and started pushing up during, and I think I’ll leave this alone
COP – Long – This is another oil stock, but the only reason I’m entertaining this one is because it’s been on a stronger up-move over the last year+ and over this week, has pulled back fairly strong — so I should get a better entry price. I still don’t love oil, but this stock might be worth it
FRPT – Long – This has actually been pushing down since Mid-2021, but since September of this year, has been making up-moves, with higher highs and higher lows. This week, it tried to push down, but is pushing closer to the highs of the week than the lows at this point. And, at that point, there’s a clear resistance area, so it might have some room to run. Granted, this has made up-moves roughly this size during this down-trend, but if there is a catalyst that I don’t know about, and price is poised to make it back to the company’s highs, this could make a ton of money
BIIB – Long – I don’t know how much I actually like this one, and I’m not sure how I feel about the future of healthcare companies in the US (I feel like the companies could take a dive if we ever get to a universal model — but that’s neither here nor there), so I think I’ll sit this one out. It’s mostly been pushing down since June of last year, but had a major spike back at the end of September, and has been holding on to strength since then, though not nearly as much. This stock makes WILD swings some weeks, too, and they seem to come out of nowhere. This looks too volatile with too little of a pattern right now, so I’m ranking it low
PDCE – Long – Another oil company that’s been pushing up since Covid. It’s been steadier than COP (similar to SLB) but the recent moves have been much more wild than both of them. I give this one a bit more over SLB because it’s on a bit of a pullback, and might offer a good entry price, but I put it below COP because above the week’s high is another resistance area, and it might stall pretty quickly.
HES – Long – GOLLY! I mean, I realized I was looking for things that outperformed the market over the last few months/couple of years, but I didn’t realize they were all oil companies. This is yet another one, and it looks almost exactly like COP. It stalled at some resistance and has been pushing down this week, but it might be a good entry price for another push up next week, up and out of the highs. I could see the argument that it’s extended, but I like the momentum-building aspect of it
DXCM – Long – This one’s a health technology stock that’s been pushing up since the end of May this year. It peaked back in October/November of 2021, but on the rally it’s currently on, it’s taken out some resistance areas that held up in Jan/Feb of ’22, Feb/March of ’21 and Aug/Sep of ’20. Last week, this dipped a bit, but since then has been pushing back up. It’s not quite at the recent highs, but I like the way this looks — and I like the clear path to the next resistance area, rather than something that hasn’t reached certain levels in 3+ years
FANG – Long – This had a strong push up since the end of 2020, peaked back in June, dropped 1/3 – 1/4 over the next month, but has steadily pushed back up to the highs. Yes this is another Oil company. Last week, the highs touched the highs from June and earlier this week broke them. That said, price has been pulling back for the rest of this week, and it’s now sitting right near those highs. That could be my entry point, though, so I’m marking this one fairly high
MRO – Long – Another oil company. Looks closer to breakout (with FANG) than COP and HES do. That said, COP and HES might give me a better price. I’ll compare the 4 of these against each other and see which is the bets option. I might do one of each, or add more money to the strategy, we’ll see
AJRD – Long – This is an aerospace and defense company which is intriguing. This has been largely choppy for the last couple of years. Actually, this is incredibly choppy, making wild swings weeks at a time. I really like the current price action, over the last month or so, but within a greater context, it doesn’t look great
MNST – Long – Monster Energy Drink. I didn’t even know they were a publicly traded company lol, but when I saw it, it piqued my interest. Looking at the chart, it’s been somewhat wild, but from early 2020 to Mid-2021 it made a steady push up. Since then, it’s been choppy again, but the reason I put it on my list is because it’s testing $100 roughly for the 5th time and if it breaks that level, it could run pretty hard. I might just add this one to trigger at $101, or $100.5 to ensure a full/clean break
JPM – Long – JP Morgan Chase is the last stock on my list right now. I’m a little upset, especially given that a lot of what I’m looking at are oil stocks, but that’s alright, this is a good start to this longer-term strategy and my rules and screener will get better over time. This has pushed down since the beginning of the year, but has had 6 up-weeks in a row. It’s up against a pretty strong resistance area right now, and given that this is a huge spike and not a steady push up, I don’t actually have much faith in it.