I get “trade alerts” via email when certain patterns pop up. I have the alerts filtered to only give me stocks expected to make a 30% move or more.
What I do from there is look up the pattern length in time to give a projection of how LONG it takes to reach a target, and I calculate the return to the bottom end of the targeted range. THen I divide the return by the number of days to get a “return per day” average expected. Then I sort the names. I separate those optionable from those that aren’t and those that are OTC.
Yesterday the list was particularly stunning as there was multiple expected returns over 50%.
The results are below by category in order by return per day expected based on TODAY’s quotes at around an hour after the open
Optionable: FSLR, ROSG,MMYT,AERL,VICL,SWS,KLIC,GHM
Also significant is that KWT a solar ETF is signaling a big move for solar has yet to occur.
Bull Flag patterns and Bull Pennants always dominate the best return per day even if they have lower expected returns because the pattern duration is typically only a few days.
So TU looks good and LINTA looks even better.
I doubled down on my hedge and grabbed some weekly 164 puts for a nickle 0.05 into the euphoria.
3:27pm est edit:Sold half at 0.35If you enjoy the content at iBankCoin, please follow us on Twitter