Watchlist for October 22nd

I have been tweaking my Stockfetcher scan for former zero volume stocks. Here are two stocks that came off of that scan. I’m not convinced that the scan is very useful yet. Here is the current incarnation of that scan:

stocks where volume is 500 percent above average volume(90)
and price is between .05 and 20
and date offset is 0
and volume is greater than 200000
and average volume(20) is less than 100000
and close is greater than open

SIHI – It broke through the important $5 mark today and went 10% higher. It should run more on green tomorrow. Volume is very low in absolute terms, though.

sihi

NOEC – Looks a little overextended after running from $1 to $1.55 in three days, but considering it is not a really huge move and it is lower volume, I almost certainly will not play it. Short on red.

noec

CTDC – My only really interesting potential play tomorrow. It is up bigfrom $2.90 to $3.90 in two days and after a morning spike today it faded all day. Short on red.

ctdc

AWSL – Nice pump, no shares anywhere. Too late to try it long unless you have balls of steel.

awsl

Disclosure: No positions in any stocks mentioned in this post. I have a disclosure policy.

0 thoughts on “Watchlist for October 22nd”

  1. KNDI will be good on red, if the volume holds up. It could very well trade low tomorrow.
    AMLM will be a good short when it breaks HOD, I didn ‘t check for shares today. Trading with AMTD you really have to search for stocks to short, it’s hard to find the right setup with shares to borrow.
    BANR will be good if it spikes in the morning on decent volume, it might even be a decent long first. If it doesn’t spike a green/red play will work but there might not be much downside.

  2. Scratch what I said about AMLM, I didn’t know that was an OTC stock. I guess you could still short it but I am to inexperienced to trade those stocks and I’m not afraid to admit it.
    On another note I finished reading Jesse Livermore’s Reminiscences Of A Stock Operator, it’s a very good book. I can’t believe how much things are still the same and manipulation, in several forms, have been around for that long. It really helps me to understand how the market really works, an eye opener no doubt.
    It’s funny that the more you learn the more slow down on trading, I mean it really is hard to profit consistently trading stocks and keep from losing your shirt because of greed or over confidence. I will have to read it again to really understand everything in detail, I’m not the best at reading comprehension, never have been.

  3. SLM is in play again, still has resistance it has to break.
    LEI has to break 1.10 or so to be a good buy, it might be a good short if it fails to break.

  4. KNDI is acting good, if it does spike at opening it will be a great short when it goes red on the day. I hope the volume holds up, it might be to low to play.

  5. ok I was putting in a limit sell over the bid to short CTDC, but it says the contract can only be closed.

    I searched that phrase on google and guess what stock appeared in the first message? CTDC.

  6. Are you sure uyou have not caused your account to be locked because of day trading. Have you done more than 3 trades in a rolling 5 days.

  7. I’ll admit I thought it would be breaking down by now, the volume is still fairly low as well so it could spike higher. It’s funny how that pattern I was trading just vanished, it was very profitable for me (on a win win basis) and now I’m kinda lost. I am glad that I was able to spot one though, no matter how short it’s life span might have been. It also seems that I am growing to scared to trade anything for fear of losing, I don’t know if this is normal during a learning process, I refuse to make trades now until I understand the trade, enter and exit points. Can to much of that hurt a trader, is it necessary to make trades not being sure of the outcome 100 percent to continue to progress forward, I am an over thinker for sure, I will analyze something to the bone sometimes to try and understand it before I do it, having to know why something happens is important to my learning process.

    1. in my experience it’s completely normal Preston and something I’ve always wrestled with.

      Pretty sure Muddy used to be a Darvas trader until it stopped working for him after a number of years. So yeah Patterns and methods can die (or go through years of not working which is just as bad emotionally for a short term trader)

      Seems like the guys who survive in the trading game, ride a horse until it dies and then find another ride. The best ones find horses that last a long time and are simple to ride.

      I will say this much though, at least for me I need to be 100% sure emotionally of my method for it to work (all the while knowing that it won’t work 100% of the time) You got to have confidence in what your method is or you’ll a lose a lot of sleep and money. Make it mentally binary Yes/no (or enter/exit) Otherwise you’ll never have the discipline to let it work (keep in mind that’s a somewhat passive thing and avoid trying to “make it” work.) and it will wreck your nerves.

      Whatever you do try to stay away from “paralysis by analysis” especially if you haven’t exited a losing trade. When in doubt get out.

      That’s been my experience anyway. I don’t get to trade much anymore due to my new business venture. Too bad, it’s a volatile market with lots of pops.

      I think playing baseball helped me a lot mentally, because in baseball you get used to being wrong 70% of the time even when you are doing well 🙂

  8. Reaper, you consider getting your own chat room going. After spending another morning at Tim’s and most of the talk surrounding weed (and no mention of MJNA) yours would be good to have around.

  9. Hi Reaper,

    By the looks of it (and your musical recaps) it sounds like Las Vegas was a screaming hit.

    I also use Stockfetcher and was wondering if you could copy, paste and forward the criteria you use for some of your filters?

    I have quite a few that i picked up on the SF website and from IL too.

    I am looking to see other techniques I can research.

    Thanks and keep up the good work.

    E Keel

  10. FYI this is what IB responded with on $CTDC, if they elaborate I will post it.

    Dear Trader,

    This security has been placed on closing only by our compliance department. Unfortunately I don’t have a reason as to why it has been restricted.

    I will send an email to Compliance, asking if this can be reviewed. At this time you will NOT be able to enter any new positions on this security.

    You may check back at a later time.

    Regards
    Frank P

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