EOM Trading Tuesday: Simple Simon+ Scans 12.6.16


Never mind what others do; do better than yourself, beat your own record each and every day, and you are a success.                                  William Boetcker

Profit-taking continues with OIL. Will it continue to drop leading to a technical reset? This means, will it drop and test previous $45 support? If so, review last week’s posts for OIL trading candidate$.

Check out this chart from Global Investors on the price action after previous OPEC production cuts.

Today I roll out Round Two of my Simple Simon Scans. I welcome any and all feedback.

The goal; discover HPTs-higher (probability, profitability) trades, some before the SS signals hit.

Some candidates were flagged a few days ago, and some hit yesterday. The day they were flagged are signaled by a vertical red slotted line.

There is more to these candidates than just the Simple Simon (Long or Short) conditions. Some are listed because they hit many conditions and may be Simple Simon candidates in the next day or two. Yes, I am flagging future SS trades as they develop.

I have worked on this feature for several years. My scanning conditions are proprietary and are not available for distribution. As EOM Members, you will receive the candidates on a weekly basis.

Simple Simon Long Watch List
CPGCZR, ICLSCAI

Simple Simon Short Watch List
BRZU, FE, KTOMERSHLD

Action Plan…

Study each candidate then transfer your favorites to a SS Buy and SS Sell watch list. When your buy or short signals hit, you know what to do.  Some wait until they receive a successful 85% Rule test. It is your call. 

The tools to sort through thousands of securities and find a handful of quality candidates to watch then trade (when the signals hit) are exciting and can be very profitable!  

No trading unless protective stops are in place.

        
Enjoy your day!

David O. England


Plan your work, work your plan, and share your harvest! 1 Timothy 2:1-2

This information is for Educational purposes only. It shall in no event be construed or interpreted as an offer or recommendation to buy or sell securities of any kind.

DAVID O. ENGLAND is the founder of the Eye on the Market-Training Academy and Associate Professor Emeritus of Finance. This column is presented for educational purposes only and not intended as financial advice.

If you have a question or comment, contact David England at eyeonthemarket@outlook.com.

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