Wednesday, August 24, 2016

Know Your Exit Strategy

Good morning folks,
The markets continue the slow grind higher as they trade in a very narrow range. 

Oil had a wild day with comments out of Iran giving energy names and ETF's a nice boost. However, we also had the API inventory data after the close that showed a surprise build of 4.4 million barrels. That  is putting pressure on oil in premarket and that will likely continue until we get the EIA report @ 10:30 ET. If that inventory build is confirmed we could see continued pressure but oil has been holding up well in the face of bearish news lately so don't take it for granted that a bearish report means the commodity heads lower. 

Gold and silver are also weak premarket and I have seen several downgrades this morning on Gold miners. The miner ETF's are testing some key technical levels and could be headed lower if those levels fail to hold. Keep your eye on the reverse ETF's JDST and DUST which I believe have a reverse split going into effect on Thursday. 

Going through my scans last night I have to tell you there are so many good looking setups out there!! It is impossible to keep track of them all!! The sweet looking daily technical setups are everywhere and in many different sectors. When looking to take a trade make sure you have your exit planned out properly. Win or lose the EXIT is the most important piece of the equation. Knowing your exit gives you clarity on what you are going to risk for your potential gain. Most people go into a trade thinking about how much they can make and the really important thing to identify is how much you are willing lose. Yesterday I had one of my swing trade action plans for the AWT pro members. MOMO hit my target for exit and even though the stock continued higher I stuck to my plan and locked my profit according to plan. I gave myself a C on the trade because I could have executed better when I established my position on the 16th of  August. Knowing your exit strategy is something you must have clearly defined and the discipline to follow through win or lose. 

The IBB IWM SMH XLF XLB and NASDAQ all look great, we continue to grind higher as we build a base storing up energy for our next significant move.
Today's Markets 
In Asia, Japan +0.6% to 16597. Hong Kong -0.8% to 22821. China -0.5% to 9791. India +0.25% to 28060. 
In Europe at midday, London -0.2%. Paris +0.5%. Frankfurt +0.4%
Futures at 6:20, Dow +0.1%. S&P +0.1%. Nasdaq +0.1%. Crude -1.6% to $47.32. Gold -0.3% to $1341.75. 
Ten-year Treasury Yield flat at 1.55%.

STOCKS ON MY RADAR PREMARKET 
*PR = Press Release

URRE going bonkers premarket right into potential resistance > I wouldn't chase it look for an intraday setup or a potential sympathy play UUU UEC

SEED and CGA china ag plays both have good looking technical setups and were on several people's radar yesterday could get some follow through they are thin China names and should be played accordingly

CLVS potential follow through after yesterday big pop

INSY hit primary endpoint small floater big short position 

AEHR news SUPER tiny floater not one to chase but could be worth watching

NMBL earnings beat gapper

CHK big insider buy  350k @ 6.07


The stocks discussed in this week's Ticker Tv are listed below

Here is the link to the video
http://ticker.tv/vegastrader66/57b9cdc7f72261d67902f655




I am not posting this video to brag or boast and I will likely never do anything like this again. I wanted to show people what I and https://www.alphawolftrading.com/membership is on a mission to accomplish. I want to teach people how to become their own consistently profitable Alpha Wolf Traders. Be part of the pack but remain independent and self reliant! My P&L should have no influence on you. Just because I have these results doesn't mean you will. The size of your account, your risk tolerance, your ability to execute and your discipline to establish a clear trading plan all play a role in your ability to succeed. 

Week Of August 15th trade reviews with P&L from Alpha Wolf Trading on Vimeo.


August 19-26th Market Wrap and Sector watch from Alpha Wolf Trading on Vimeo.

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