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Also check the Winners List Page. We all love a bargain. Our site is going to start running a list every day of the stocks which had the biggest selloffs. These can then be used to do further work and preparation to see if there is potential for a bounce there. Very early in the day is the highest probability for a bounce, daytrade-basis. And a warning – most stocks are down for a good reason, and there must be a very specific setup for a bounce trade, otherwise step aside. There are filters on the scan, but the main one is over a 5% decline.
8/22 (10 AM): To repeat, short-term there was a ton of bearishness about the stock market. Talked about this several times in premarket. The rally today allowed me to cover more shorts of the hyped up volatility – TVIX,
8/21 (2:30 PM-10 PM): Long list today – not good. ARCI, the top stock of the day (Winners List Page), was on this Bounce List a few days ago. CRME nice bounce. Throughout July I kept repeating that the Winners List was being populated at the top by crap, and there were hardly any stocks which were “sticking” (holding their highs). Those were some warning signs, along with several other factors. In a strong market, there are at least a couple of solid daytraders which can be bought into the little dips. Not happening now. Right now, I’m focused on strong stocks and the big reactions. Those are talked about in today’s video. I’ll repeat – there is a lot of bearishness about stocks, a lot of doubts about gold, and a ton of total useless crap reasons why people believe this.
8/18 (2 PM)-8/20: Trading a lot today so copy and paste time: I shorted TVIX late in the day yesterday, and covered into the rally about noon – broker confirms later with any trades. My plans were all discussed in premarket today – “Every bull market has large selloffs. Why so many feel the need to pick the top is baffling. The top pickers have been attempting it for years, maybe this time they’ll be right. But for us, this has already been identified as a cautionary period. We’ve been concerned for months about the lack of volatility and the complacency about using leverage to attempt to get some kind of returns in a market which is sound asleep. Well it’s woken up recently with the volatility seen, and the fear has exploded. The volatility products are at record levels of volume. It’s pretty odd actually, at least shorter-term. I used the explosion yesterday in volatility to do a bit of shorting (of volatility, TVIX) later in the day, and will cover some today – just risk control. Some of this is discussed in this video along with gold and the miners. The stock market can set itself up for quite a rally with some good technical action today on the selling waves. Still same idea with gold, don’t need to rehash it and it’s on the video. What have I been saying since 12/9/2015 – it’s a BULL MARKET. And all of the gold bashers and doubters out there, with all of their highly paid services – now what are they going to say? An emotional blast thru 1300, is a place to lighten up for me. And the backups are for buying.”
So I used the stock rally today to cover TVIX short, and lightened up on gold into its rally.
With more retailers on the list – SSI, HIBB, FINL, SRSCQ – here’s a post about opportunities in retailers. Several of them on the official “short sale circuit breaker” list today, along with DCIX, AEZS and DCTH.
8/17 (10 PM): Of course, several inverse leveraged ETFs on the list. This bounce list is a great aid during selling waves. To remind – this is a major bull market, but all bull markets have big selloffs. I would love to see a big selloff, because there would be fantastic opportunities which would open up. We’ve expressed our overall concerns many times about a potential overall topping process. Often times in the stock markets there are initial tops put in during July/August, with a selloff and then another rally to new highs in Sept/Oct. But we’re also traders, and the near-term selling waves open up short-term opportunities – buy dips, sell rips. Easily said, not nearly as easy to do, but it “works”. IDXG was the big winner just 2 days ago.
8/16 (10 PM): The shippers are back on the list – DRYS, DCIX, TOPS, ANW. I sold the rest of my shares in DRYS on Monday, because my belief was the 3.50+ area would be big resistance. That was my initial target for the trade which was initiated into the intraday weakness last week. Now I’m watching for the next long-side setup. All of this is discussed at the Winners List page. IPI, since the big bottom, this is the most volatile area now that it is here near the highs, cautious. The inverse miners, JDST and DUST on here with the big rally in gold.
8/15 (10 PM): Yesterday it was SORL with a fantastic bounce (see 8/14), and today another stock, and one we’ve liked since 5/26 – MGTI. Just like SORL yesterday, the plunge down filled the downside gap, and the huge bounce filled the upside gap. These trades need to be planned, use the stocks on this list to your advantage. It’s just hard work. DGLT, like RETC, eventually headed to zero. Both HIBB and DKS (not on cause of price filter) on here. Lots of good jokes about DKS (Dick’s Sporting Goods). BITCF was #1 stock yesterday.
8/14 (10 AM-10 PM)): From our premarket comments – “SORL with an earnings miss, I’m watching for a bounce opportunity with taking out of support areas.” And back into resistance, look at PM chart. FRTA, like RETC or DGLT or DRWI (formerly) or currently FRSX (Winners List page) have horrible long-term charts. And they are bounces for a reason, they are not investments. Please understand the difference, especially during the “bullish” rally – there is a shelf-life to these trades.
This is on the Winners List page from yesterday, but – as DGLT was rallying yesterday, someone asked me where to sell it. I said .60. It went to ,68. Now it’s .40. That’s why it’s alright to “sell too early”. No shippers on the list today. They’re all over at the Winners List page.
Well in advance (weeks), we started talking about the “change in character” of the shippers, DRYS, on 7/21. It’s all on the Winners List page commentary, but we also did videos, posts and posts about them. This is the point of working hard and having no biases in markets.
If you want to see the great benefit to taking this list very seriously, with the last scan of the previous day, plus the first scan of the current day, look at the incredible bounce in FRTA today. Also XXII with a great bounce. DGLT headed back to zero where it was going before the bounce. Watch the very bottom of the list, when a stock is on there for a few days in a row, it’s a likely “bouncer”.
8/10 (10 PM): Long list today, not surprising. And most coming in with the heaviest volume in a while. Generally the list has very heavy volume overall, not surprising. Many “breaking support”, and sticking below, not surprising. Friday with emotions high, shortening leashes on everything, not surprising.
8/9 (10 PM): Rough day in Russell Index (IWM) and small stocks in general. Yes small stocks are affected by the indexes. DRYS a big winner today, but DCIX and TOPS struggling. XXII earnings AH.
8/8 (7 AM-10 PM): Some earnings movers on the list, like III and GOGO – GOGO nice bounce, like JASN the day before. And JASN really nice bounce continued today. And for Tuesday RUN, DEPO, MNKD, PLUG earnings movers. RUN, PLUG very strong stocks with momentum, could be a quick bounce there. IPI also a strong stock with downgrade news, another bounce potential. Very strong stocks often get a quick bounce off news, even super short-term. MBRX interesting stock (at the right price). ZYNE big cannabis product miss.
Review (keep in mind) – what is a “bounce”? It’s a quick rally from an oversold position. So what does that mean trading-wise? It is a total daytrade, sometimes 5 minutes. Unless it’s a stock you’ve been watching, and it “breaks below” a big support area on the daily chart – sometimes those are true “springs” meaning more than just a bounce, but an actual bottom.
8/4 (8 PM): Several small miners on the list, especially with silver taking a hit today. We have our view, expressed several times the last 2 weeks (actually longer) about when the next good bottom for PMs will be. And here are recent recaps of entries and exits for miners, and accompanying comments. People are whining, guessing, predicting about breakouts with gold, but in the meantime, some of us are just continuing to trade them.
JASN is a great example of why this Bounce List can be helpful. Yesterday morning big loser, and then a massive bounce, and continued today. TOPS getting creamed, even tho DRYS and DCIX are on the Winners List. LBUY with a big bounce today also.
8/3 (8 PM): What a surprise. The shippers were back on the Bounce List today – DRYS, DCIX, TOPS. to be fair, there was a nive bounce trade in DRYS today. JASN had an outstanding bounce. MTBC was yesterday’s trending stock, and people were falling in love with it. Why? Because of the “bullish chart“.
8/2 (8 PM): Of course the shippers are right back on the bounce list – DRYS, TOPS, DCIX. I sold DRYS into Tuesday close (discussed here) and was looking to short DRYS into the PM high of 1.89, but HTB again. RETC – trying to do anything to pump shares. TVIA eventually headed to zero, like DRWI (talked about below). SPWR bad reaction to earnings, the opposite of what FSLR did with earnings.
8/1 (1:45 PM-7:30 PM): We keep talking about paying attention to the 2 lists we run, this Bounce List and the Winners List, as stocks go from one and then back to the other. Yesterday the horrible shippers were on this list and today they’re on the Winners List. RETC eventually going to zero. Also, we talked about AEZS yesterday (below), and have tried to warn it’s a simple pump and dump. Almost no one listened. Why? Because the “chart was bullish”.
Also, CYTR should be on the list (working on the glitch). CYTR with a nice bounce today – it was on our premarket comments today: “And CYTR, talked about many times, right into resistance and could see some volatility. It’s had a huge run, so for me it needs a big reaction first.”
What happened to the shippers today, where are they? Well amazingly enough they’re on the Winners List – DRYS, TOPS, DCIX, ORIG. I daytraded DRYS today, explanation/broker confirms at the Winners List page later. It was my first daytrade since Thursday. RETC and DRWI are messes. In our premarket comments from 6/8-9 (arrows on chart) about DRWI: “DRWI – no shares available to short it yesterday. Another pump and dump, along with several others the past few days.”
8/22 10 AM:
8/21 (10 PM):