Trading Prep DEEP DIVE November 07, 2020

Welcome to the Weekly Game Plan! The 'MARA Lists' are updated in real-time. The 'Market Summary' is provided weekly. The 'Deep Dive Video' is the recording of our weekly Trading Prep DEEP DIVE.

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The market rallied hard off the lows last week and basically made up all of the ground that was lost in October. Not bad for a week’s worth of price action!
Similar to last week, to me what’s more interesting isn’t what happened but where we’re at now. Across the board the market is right at intermediate term resistance. Does this mean that we get smacked right back down to support? OR do we breakout and start running from here?
This is why I like to look at BOTH the major indexes as well as the stocks on my watch lists. Setups fuel uptrends. If there’s a plethora of setups, that means there’s a lot of fuel in the tank. IF there’s nothing setting up, then it doesn’t necessarily mean that the market can’t go higher, but it does mean that it’s not time for me to step on the accelerator. Make sense?
This week I saw 14 setups in the Universe List: http://charts.trendspider.com/shared/5fa70a9517b594001546fc5c?t=1
That really isn’t much given that we have about 170 names on the list…
Heading into next week I’m cautiously optimistic. So far the stocks I’m in (MPWR and SNAP) are performing well. Taking the ‘Market’s Mood’ and my current performance in it to draw me in deeper is a recipe I’ve used for years. 
This week I’m planning to add up to 3 new positions. CRM, QDEL, and TSLA all scored high on the Trade Gauntlet. More on that in the next section.

OVERALL DIRECTION: SSU (sideways on monthly, sideways on weekly and up on daily time frames)

NEW HIGHS vs NEW LOWS: New highs ramped up in a big way last week. What’s most interesting to me is that the number of stocks hitting new highs right now is still higher than what we saw back in August when the indexes were at fresh highs! This is an indication that more stocks are participating and breaking out. We’ll see if that continues to play out but it’s good news for the bulls if it does.

DAILY CHARTS: https://www.tradingview.com/x/GtiCRiRv/?aff_id=15325&offer_id=10

WEEKLY CHARTS: https://www.tradingview.com/x/bfU3b6Pk/?aff_id=15325&offer_id=10

MONTHLY CHARTS: https://www.tradingview.com/x/rgi9JkCW/?aff_id=15325&offer_id=10

PORTFOLIO MANAGEMENT: With the trades I’ve taken doing exceptionally well so far and my stops at breakeven or better, I’m looking to add more positions next week. I’ll be adding up to 3% capital risk if the following trades breakout: CRM (6.93), QDEL (8.78), and TSLA (7.52). The numbers next to the tickers are the Trade Gauntlet scores. Each are high and why I’m high on them. 😉



In addition to the swing trades I’m looking to add (CRM, TSLA, and QDEL), there are a LOT of potential day trade ideas this week. 22 all together! Lots of momentum!

Here’s the link to this week’s notes: https://docs.google.com/spreadsheets/d/13LYNJanl5Qm5CO1v0HYbXTHvwKodo_-rN4PVURhWOzY/edit?usp=sharing

A couple of notes on the sheet:

  1. We’ve added ‘TRADE GAUNTLET NOTES’. This will show you all of the criteria the idea met! Roll over the cell and to see this notes box.
  2. The ‘notes and game plans’ cell was getting too long so I tightened the cell. To see all the info, double click the cell. 



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