Had my eye on CROX today and bought shares at 7.01 as it broke above yesterday’s high of 6.94. From here, targeting above 8 to take profits and will consider adding more if it pulls back into the 6.50’s. Using yesterday’s low of 6.26 as my stop area.
Today’s volume in NUS is certainly something to take note of. The stock traded 9.4M shares versus a 10 day average of 1.4M. Volume escalated in mid February with the major gap down selloff and since then has stabilized a bit, still on high volume, and for the past 4 days has started to look bullish as it’s closing back up around the 8EMA. Potentially could use this weeks high of 51 as an area to go long. If NUS can hold above that I think it should be able to get back to 55 quickly, while using the low of 47.10 from 2/23/17 as a stop.
Today’s action in CROX reminds me a lot of RLGY in November when it bottomed. Earnings gap down and immediate reversal to close near highs, and on much higher than average volume. Going to follow CROX closely and interested in opening a long position on 3/2/17 if it continues through Wednesday’s high of 6.94. If this is the case, it could make its way back up to 8 or even 9 in the near future.
Closed out PX today at 120.00 from entry in November 2016 and, considering this a mismanaged trade, I am very happy to make it out with a profit. Bought back in November with an average price of 116.35 and had several opportunities to close it out as it approached 125, but seemed to get caught up in the news that the Linde merger was going to drive this to the moon. Sure enough, when the merger was announced on 12/20/16 the stock tanked. Failed to stick to my original plan and definitely should have taken at least partial profits above 124.
Stock has shown some strength in the past couple weeks and I’m happy to exit for a profit as well as capturing the .75 dividend in December. Looking to put these funds to better use by sticking to the game plan on the next trade.
RXN daily chart
RXN has been hitting resistance many times at it approaches 23 many times over the past year (circled in blue). Furthermore, if you zoom out at the chart it also had resistance at the same level back in 2012. RXN has been bouncing around for a year between 15 and 23, and keeps fighting its way back towards 23. Bottom line is that 23 is a significant level for RXN, and looking at today’s volume and bullish action I think it may be providing a clue that the stock is ready to break through the 23 level soon. Today the stock traded 5.5 million shares versus a 10 day average of 724k. This was primarily driven by what looks to be a single order filled at 3:54pm for better than 3.2 million shares. The daily volume today represents the highest volume in the past year as seen above.
As for a trade plan, probably going to sit on the sidelines for this one to observe and gain some insights for use in the future.
Was watching JWN this morning and shortly after the open JWN broke above Friday’s high and my order was filled at 47.17. From here, looking to take profits around 55 and using February’s low of 42.32 as my stop area.
- 3/1/17 update – added to JWN at 45.10. Average price is now 46.68
- 3/6/17 update- added to JWN at 44.69. Average price is now 46.23
- 3/21/17 update – sold JWN for a loser at 42.15
JWN on watch tomorrow, caught my eye this weekend on the Finviz unusual volume screener. Especially like the bullish kicker candlestick signal as well as extremely high volume, and these two indicators could be a clue that the stock has formed a bottom and is ready to go higher. Bullish kicker as I’ve observed when combined with high volume has been quite powerful in indicating upward movement as seen recently in WBMD in late January, LUK in early November 2016, and MPEL in mid July 2016.
I’d be interested in establishing a long position on Monday if JWN can break above Friday’s high of 47.03, looking to buy around 47.15-47.20. From there, would be looking for JWN to continue higher and reach 55 before making a new 2017 low around the 42 area. In other words, risking 5 to make about 8.
Worth noting that JWN goes ex-div tomorrow so I’ll be keeping an eye on the price action as it relates to the impact from the dividend.
I sold ZUMZ on Wednesday 2/22/17 at 19.85 which is a tiny winner from 19.60 entry. Took a closer look at the action in ZUMZ, and this looks to be an instance of “thought there was something better than there really was”, and that’s a pretty bad reason for trading a stock.
My rationale for buying was average at best. Specifically looking at the volume, while above average which triggered the Buy idea, was not “major” volume in that there have been several green bars of large volume above my trigger in the past few months. After analyzing recent winning and losing trades, I am Looking to only get involved in stocks with “major” volume as a trigger going forward. Ie a green bar with the highest volume in the past 6 months, 9 months, or year. Very happy to eek out a small profit on this one.
Bought MYGN this morning at 17.21 on continuation through this week’s high price of 17.18 from Monday’s trading session. Added this to watch yesterday due to the astronomical volume and from here looking for the stock to reach 20 before making a new 52 week low.
MYGN Daily Chart
Today’s volume in MYGN is something to take note of and I think it might be sign of a reversal about take place. The stock traded 12.9 million shares today versus a 10 day average of 1.8 million. Wednesday, 2/8/17 and Monday, 2/13/17 each saw major buying as well trading 6.5 and 5.2 million shares respectively. Given the stock has been beaten down nearly 50% in the past 12 months and has been oversold on a daily, weekly, and monthly timeframe recently, I think we could easily see MYGN move back to 20 in the next few weeks with continuation over recent highs.