July 9 Premarket Repost

There are new posts here, here and here. There is a lot of stuff in that conference call pertaining directly to today’s trading.

I put out my stock list on 4/2, the very low day of the retest, that is updated when necessary, other position-type symbols (short-term symbols are a focus for me) are given at times, other markets discussed at times when there are plenty of opportunities, like with crude oil over the last few months.

All I can do is put out the work, after that – how much people believe in it, how close of attention people pay, how hard people work, what people do with it – is out of my hands.

According to the financial media, who scared people into selling and not buying over the last few weeks, the “trade turmoil is now on the backburner”.

AFTER first getting cautious at SPY 280, I then discussed over and over and over and over, that the tariffs are noise overall, the selling caused by that news will create buying opportunities. For closing in on 10 years now, I have said the same thing about the stock market – it’s a bull market. How I became one of the lone defenders of this stock market bull, who knows. But I have seen people, way more respected than I am, constantly for years now claiming it’s a bubble, it’s overvalued, it’s going up because of QE, it’s going up because of low interest rates, it’s going up because of the PPT, and I have said – it’s a bull market. Every selloff has been reaccumulation.

A month ago, into the highs when I got cautious, what did I say – It would be real helpful/re-energizing for the market to do another SHORT-TERM reaccumulation:

From 6/13 at 12:25 PM:

So having said that. The market has had a really big rally since 4/2, back into 280. QQQ and IWM new highs. I believe the trend is still up, but this is no longer a high probability area for new position trade type entries. I did some selling, in GALT for instance which I was holding. Now I’m looking for some broader setups, a bit deeper, for positions that is. Short-term stuff, daytrade, always those opportunities. Also, a lot, I mean a lot of stocks are working currently. Too many? Maybe. It would be real helpful/re-energizing for the market to do another short-term reaccumulation.”

 

This is my print out, notes, and preparation which I have been using myself for option daytrades, and re-establishing some positions in individual stocks. Remember what I have been repeating almost every morning for several weeks – I am looking for short-term reaccumulation:

 

 

——————————————————————————-

Remembering what I said on 6/1 about crude, quoted below, that we are back into the $75 resistance area, so caution warranted.

Regarding crude oil right into the lows and the shares and given out several energy symbols, what have I been saying, like with the stock market – it is reaccumulation. All I can do is put out the work.

Even on Friday, for a short-term opportunity, along with the specific support drawn in:

From Friday morning’s comments:

And (crude oil) back into a small support shelf.”

Friday morning’s chart:

 

 

Anyone trading leveraged oil, a great spring on Friday, a few ticks below the 72.15 support that I drew in Friday morning:

 

 

Several stocks have been given the last few months, like – VNOM, WHD, EPE, EC, EGY, CRC, CQH, SM, SN.

Since first posting, EPE up 50% and EGY up 100%.

From 5/9:

And those small energy shares are outstanding opportunities. Yesterday’s premarket I posted 2 more of them, EGY and EPE. EGY, +30%, was the #3 stock of the day, (BLNK, +50%, also posted yesterday, the #2 stock of the day). EPE was down in the early part of the day, ripe for buying, then closed up 4%. And after the close came out with solid earnings guidance. Big accum area in EGY, less so in EPE, and both stocks had opportunities yesterday, anyone who read yesterday’s post had an opportunity, when crude had an emotional spike lower before the announcement. All I can do is lay out the opportunities.”

From 5/28:

With the selloff in crude, it is allowing for backups in the shares, I’ve posted numerous stocks if you are keeping a list you know which ones I follow. The trend is up in the sector.”

From 5/31:

Many many energy shares have beautiful structures, accum, reaccum, SOSes. I have listed numerous symbols, if you are paying attention you are long or watching closely. A few more, SM, CRC. And CQH, which has no debt, yields over 5%, has a 3 year growth of 71%, 2500% growth rate last quarter, AND accum, reaccum, SOSes, absorption.”

From 6/1:

The back up in crude oil, to me. is reaccum within a major uptrend. More back up into the previous range would shake more people out and help strengthen it for the next push into $75. So many oil shares have been given to you over the last few months, and those are my focus also into backups. I continue to avoid the oil majors, no interest in them.”

 

mm
About traderscott 1094 Articles
Trader Scott has been involved with markets for over twenty years. Initially he was an individual floor trader and member of the Midwest Stock Exchange, which then led to a much better opportunity at the Chicago Board Options Exchange. By his early 30’s, he had become very successful in markets, but a health situation caused him to back away from the grind of being a full time floor trader. During this time away from markets, Scott was completely focused on educating himself about true overall health and natural healing which remains a passion to this day. Scott returned to markets over fifteen years ago where he continues as an independent trader.

Be the first to comment

Leave a Reply