Trading the Charts for Friday, September 1st
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This newsletter is really about what’s below the paywall which is my daily watchlist (20+ stocks), the charts for that watchlist and my current trading portfolio with all the details you need like entry price, stop loss, etc
I spend 2+ hours every morning going through charts — this is what adds value for my paying subscribers. Nothing matters more than finding the best setups, executing them during the day and of course maximizing my/our performance.
We get BLS nonfarm payrolls report at 8:30am EST, the estimates are for ~170,000 jobs added in August. I’m hoping for a number around ~150,000 which would be slightly cooler than expected. If the number comes in much higher/hotter we probably see yields move up and equities move down. If the number comes in much lower/cooler we probably see yields move down and equities move up — this is because the FOMC is more likely to be done with rate hikes.
Since it’s the Friday before a long weekend (Labor Day is Monday), I’m less likely to do much trading today plus I’m already fully invested in my trading portfolio. Of course I always have more room if needed so it’s possible I start a couple new positions if I see the setups and price action that I want but also possible I just sit back and watch today’s action.
Morning stock screener (54 results): AMZN APPN ARES ARGX ARRY BB BKR BVN CELH COUR CPNG CRS CXM CYBR DASH DKNG DLO DUOL ESTC EXEL FLNC FLYW FSLY GE KEX KKR KTOS LNW MDB MELI MMYT NARI NBIX NCNO NTNX NTRA NXT OII OKTA PAAS PCOR PGR PRVA RIVN SMAR TDW TEAM TKC TSLA UBER WFRD WK XPRO YELP
Criteria: price above $5, market cap above $2B, average daily volume above 200k, above 20d sma, above 50d sma, above 200d sma, RSI > 50, QoQ EPS growth above 10%, QoQ sales growth above 10%, next year EPS growth above 30%
**noteworthy that $NTNX and $ESTC are on the list, they're both up more than +15% this morning after reporting better than expected earnings yesterday afternoon which means investors were buying both of these names into their earnings reports
Below the paywall is my current trading portfolio including all positions (open & closed), watchlists, charts, entry prices, stop losses, YTD performance and my daily webcast.