Stock Picks Recap for 7/1/14
With each stock's recap, we will include a (with market support) or (without market support) tag, designating whether the trade triggered with or without market directional support at the time. Anything in the first five minutes will be considered WITHOUT market support because market direction cannot be determined that early. ETF calls do not require market support, and are thus either winners or losers.
From the report, AMRI triggered long (with market support) and worked:
CTCT triggered long (with market support) and worked:
SAFM triggered long (with market support) and didn't work initially, worked later:
From the Messenger/Tradesight_st Twitter Feed, Rich's TWTR triggered long (with market support) and didn't work:
GILD triggered long (with market support) and worked:
BIIB triggered long (with market support) and worked enough for a partial:
In total, that's 6 trades triggering with market support, 4 of them worked, 2 did not.
Futures Calls Recap for 7/1/14
What I didn't want for the first day of the quarter was a gap and go day, which is the hardest day to trade. Instead, we got a Comber 13 sell signal on the NQ that I used instead, and that stopped out. The market was simply too strong for the session. We traded exactly average daily range on the ES for the session on 1.7 billion NASDAQ shares, so things are getting back to normal again.
Net ticks: -9 ticks.
As usual, let's start by taking a look at the ES and NQ with our market directional lines, VWAP, and Comber on the 5-minute chart from today's session:
NQ:
Just a reminder that we use half points for ticks on the NQ and not the quarter point measurement that the exchanges switched to in recent years. This allows us to use 6 ticks as a key target as we do on the other contracts. It also keeps the value of a tick at $10, closer to the value of a tick on the other contracts.
Triggered short at 3878.00 at A and stopped:
Forex Calls Recap for 7/1/14
We came into the session long from the prior session in the GBPUSD and closed that out for 100 pips. We also had a new trigger for a small gain. See GBPUSD section below. The EURUSD, meanwhile, was in one of the narrowest ranges so far.
Here's a look at the US Dollar Index intraday with our market directional lines:
Came into the session still long the second half of yesterday's trade from 1.7050. New trade triggered at A, never got to stop or first target. Closed everything at B, 100 pips in the money on yesterday's trade:
