Joined Jan 27, 2008
7,136 Blog Posts

$GS Trade Setup

$GS is flirting with $200/share as I type. The good news is the profile is very thin above $200, thin to $220, giving us a quick 20 point move on strength. $GS also goes Ex-Dividend tomorrow, meaning if you own shares you will get paid a dividend for your loyalty, more good news.

Let’s see if she can get up and go past $200. Developing….

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Earnings on Deck

Here’s a look at the major companies reporting this week, courtesy of Earnings Whispers. Be sure to check your earnings dates this week! $ROKU will surely be interesting on Thursday….

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Momentum Monday

Judging by the futures it looks like the market is ready to carry over momentum from last week. I, myself, wish I would have traded today. Instead, I opted for heavy deadlift, which may or may not have caused a hernia injury. I’ll get the wife to check to see if there is a bulge later.

For now, with ice on my lower abdomen, I present to you– Friday’s Momentum screen. There are a bunch of names to sort through tonight, but I have laid them out ever so perfectly in finviz for your viewing pleasure. CLICK HERE FOR CHARTS

As we head into the shortened holiday week, here are my favorite chart setups from Friday’s screen, with $OSTK being #1 (We are long inside Exodus). Financials, Gold, Silver, Biotech, & Oil were the standouts as we closed last week, my favorite charts can be found below:

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Monday Night Charts: Today’s Top Hybrid Movers Inside Exodus

Here’s a look at some of today’s top hybrid movers on the day, courtesy of Exodus of course. Healthcare names continue to perform and show no signs of slowing down as we enter a new week. For tonight’s full screen, check the imported list HERE. My favorites to watch as we week begin the week are found below. We need to watch the $VTKX:

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A Great Spot For $SPOT

$SPOT is another name I like for 2019, and the latest Podcast acquisition(s), plural, is giving us a great spot to enter the stock. The latest quarter was not bad, and the growth trajectory is still on point. The stock has pulled back from early momentum to start the year and now sits just above the 50 day moving average, giving us a great spot to manage risk.

The CEO of Twitter, Mr. Jack Dorsey, gave us a bunch of golden nuggets to chew on this week after his latest interview with Joe Rogan. One of them being very bullish on podcasts.

Below is the daily chart of $SPOT. Bulls have control as long as price stay above the 50 day moving average. Let’s see if the stock can get up and run here. #long

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How To Trade Stocks Using Charts And A Thesis: Today’s $OSTK Trade Examined

We started the week off reviewing some bitcoin proxy plays thanks to the bullish bitcoin comments from Square & Twitter CEO Jack Dorsey. One name that popped up in the Exodus trading room as a bitcoin proxy with a good chart was $OSTK.

Technically, the stock was poised for a move higher after the initial break of $16 with volume (See below):

After the initial break, which I missed, all we had to do is wait for the chart to consolidate giving us a few pivot points to draw stupid lines on. We then switch gears to a shorter time frame, I like to use the 30 minute chart as seen below, to really zoom in on our action point. This give us a clear picture of where price should breakout should we get above our silly lines drawn on charts (Crazy, but true).


Once the stock traded above 18.70-80, it was off to the races, as many traders keyed in on that level for their entries. See below:


In my many years of trading, I always find to be more successful when I have a catalyst or a thesis, which is all supported with a great chart. Those two things can equal much success over your trading career, as well as give you confidence to see the trade through.

$OSTK closed near the highs of the day and we are swinging the stock overnight for a possible 3-5 day hold. If bitcoin starts to move higher expect a major squeeze to develop here. For more info on our trades in real time, entry & exits, be sure to visit the Exodus trading room.

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