stevenplace

stevenplace

Simpler to look for a failed breakdown than it is to chase the breakout here. See AMZN and BABA charts for similar examples... I think they all hit on the same day due to Italy macro news.

stevenplace

Very similar to AMZN setup. Big move post earnings, settles into a range. This one was interesting because damn near everyone was looking for the breakout but there was just a heavy offer sitting there for like two weeks. Gap down and early weakness into the lower end of the earnings range, but that fails. An entry there gives enough cushion to anticipate the...

stevenplace

The failed gap down and the bullish engulfing at the lower end of the earnings range was key. New setup: momentum stock sees a gap down into low end of earnings range but bid is still there. Long calls with about 30 days to expiration and a strike price at the upper end of the range would be a good systematic entry.

stevenplace

The first day parabolic short after the first hour trade looks to be a pretty reliable scalp, provided entries make sense. When you have an obvious fade that doesn't fade into the afternoon on a day 1 move, very high odds of secondary push on day 2. Look for that kind of "failed breakdown" on these in play stocks.

stevenplace

After the first parabolic move fades, look for a new base to play.

stevenplace

This is a classic failed breakdown setup. After trading in a tight range, the S&P 500 finally broke under 2700. If this were a weak market, we would have seen rollover and maybe gone to retest some support levels that were put in from the past few months. Instead, the breakdown under 2700 was rejected as aggressive buyers stepped in. When you see a failed...

stevenplace Updated 

XLE is 8% above its 50 day moving average. Doesn't mean a *massive* reversal, can work off overbought over time.

stevenplace

Based off previous rallies

stevenplace

Coming into the island top reversal. I'd be VERY VERY SURPRISED if we break above this on the first attempt.

stevenplace Updated 

10 Day TPI: -12%. Worst since 2011, 2009. I like put spread sales.

stevenplace

i expect a discount on the JC ICO for this

stevenplace

Wait for the low 130's then start scaling into Jun put sales.

stevenplace

TP Indicator shows move above 2nd stddev

stevenplace

look for a topping candle or a gap above the bollinger to play to short side

stevenplace

if 266.50 clears and holds, next two gap fill levels up on deck

stevenplace

the bad news is priced in

stevenplace

C'mon...

stevenplace

Looking for a move to 130