Watchlist for January 4, 2019
A Little Background
I have a lot of watchlists. Like seriously a lot. I probably have 1,000 tickers whose charts I look through every day just to watch them move and find plays setting up. Most of these tickers are separated into various sector watchlists. This way I can quickly find sympathy plays if some sector starts to heat up. To keep things reasonably under control during trading hours I have one dynamic watchlist which I update every day/night. This watchlist is the one I keep an eye on at all times during the trading day. I'm currently using TradeStation as my main trading platform, and they have something called RadarScreen which I use to keep track of all my watchlists. RadarScreen is basically a charting platform in spreadsheet format. It's a tabular interface which you can use to put whatever indicators or other company specific information on and can watch it in realtime, plus you can have it generate trading signals and alerts for you. My main watchlist is broken up into 4 parts, basically 4 separate watchlists. These are each grouped together and can be individually sorted by % change, $ volume, volume, etc. The four sections are Overall Market, Daily Watch, OTC In Play, and Listed Runners.
In my Overall Market section I have the futures contracts for the main indexes plus a couple other futures contracts, Gold and Oil, which I’m analyzing in order to start playing with algorithmic trading. This Overall Market section is pretty much static. The rest of this watchlist varies day by day.
ES, NQ, YM, RTY, CL, GC
These are my main tickers on watch for a play today. I watch a lot of others tickers during the day, but I likely won’t play anything that isn’t in this section of my watchlist. These are generally plays that are setting up for a possible breakout today.
PROP - My first trade of the year. I locked in a 21% profit on this ticker on an overnight play. I always watch tickers I play the following day to see if I could have improved my trade in any way. This one could be an okay morning panic dip buy if it has a hard enough panic, although the low volume would probably keep me to a very small position if anything.
PASO - I would have at least taken a starter on this one today if it didn’t have such low volume the past few days. Watching for some increased volume and interest, or a clean breakout over 0.03.
PGHEF - This broke out over the 0.0432 area today, but the volume is so low, I’m just watching for now. It held the breakout level well enough to keep me interested but it’s bouncing off its lows, and I really hate playing the initial trend reversal on the daily charts.
MRMD - The cannabis sector just bounced over the last few days and started to put in a little consolidation today. I’m watching MRMD for a confirmed breakout over 3.85 or so.
IRVRF - I’ve been watching this one for over a month now. It’s set up really nice, but the stats on it say it generally doesn’t have multiple green days on breakout. Probably won’t play unless the price action tells me a different story. If I do play, it will probably not be a swing.
CANN - A cannabis ticker I’m very familiar with and which is close to my heart. Watching for a clean breakout over 2.20.
EMHTF - More cannabis, a theme you will see often in my watchlists. Watching for a breakout over 2.35.
HPMM - A very thinly traded stock that just made a massive move last week and has been putting in a nice base around 0.75. I’m looking for a first green day play here. I’ll likely take a position over 0.91. This is my top watch for a play.
SPLIF - A cannabis play that hasn’t been quite as beaten down as the rest of the sector recently. Watching for a breakout over 0.26.
SHLDQ - Bankrupt Sears, lol. Not typically my kind of play but it made a nice move that put it on my radar. Watching for a breakout over 0.51.
OTC In Play
This section of my watchlist is composed of tickers that are generally setting up for a breakout. If not that, then they are just OTC tickers that have made some moves very recently and I am watching for any type of play that I have a quantifiable edge on. I’m usually not looking at these for a trade today, but they may set up for a trade tomorrow, or next week. And if they set up for a trade today, then at least I have a chance to catch them quickly and already be familiar enough with the chart to not need much time to make a decision on entering a trade. Because these are not set up for me to play right away, this section will just be a list of tickers I’m watching in order to move them to the section above when they put in a good day that sets up the play on the daily and hourly chart.
Currently, this section is mainly composed of weed stocks. The sector is bouncing after a hard selloff and it may start to present some plays I’m interested in after some consolidation. I don’t like to play the initial trend reversal on the daily chart. I’d rather wait for a higher low to set up and play a breakout to a higher high, signaling a uptrend on the daily chart. And no, this is not my entire cannabis watchlist. These are just the ones I find the most interesting at the moment.
POTN, BUDZ, HYYDF, FRLF, CVSI, NXTTF, HIPH, MMNFF, CRXPF, BLOZF, SPRWF, NBEV, CRMD, OGRMF, HEMP, PURA, KSHB, HMPQ, NUGS, EWLL, AXXA, CANB, WDBG, DPWW
These are all listed stocks that have generally made a 50%+ move in one day within the last two weeks or so. I’m not a consistently profitable trader with listed stocks yet, so I’m not going to give my opinion on possible trades here, but these are the listed stocks I’m watching.
HSGX, BTAI, ALQA, AVDL, MICT, ADIL, WATT, UXIN, MRIN, VTVT, PRAN, CCCL