Simple Simon Scans 2.21.17

It’s not what you look at that matters, it’s what you see.
                                                                       Henry David Thoreau

One of my goals; for my members to develop the “Trader’s Eye,” looking at a chart and seeing money making opportunities if it breaks out or breaks down.  Proper use of these Simple Simon scans helps meet our “Quality,” trade candidate objectives.                                                  DOE

Today I highlight trading candidates from my Simple Simon Plus Scans. The purpose; discover HPTs-higher (probability, profitability) trades, some before the SS signals hit. 

Simple Simon Long Candidates 
CMTL, CPG

Key  Points…

1.   No SS Buy Signal has hit…I am looking for profit taking from yesterday’s breakout to see if buying comes back in

2.    Previous rallies were 29%, 12% 15% and 26%

3.    Pays a monthly dividend

 

Simple Simon Short Candidates
ASPS, CYBR


Key Points…

1.    No SS Sell Signal has hit…I am looking for profit taking from yesterday’s breakdown to see if selling comes back in.

2.    Previous drops were 18% and 15%

3.    The next level of Support is $49 then $45


Action Plan…

Study each candidate then transfer your favorites to a SS Long and SS Short watch list.   Determine your trade conditions and set alerts at your broker or Stockcharts.com.  

For example, if a trading candidate goes through a hard support/resistance level or jumps in volume by X%, then have an alert to give a heads-up when this happens. 

When your buy or short signals hit, you know what to do. No trading unless protective stops are in place.

Here is the link to setting alerts at Stockcharts.com.  Online brokers may have a trademarked name: for instance, “Trade Triggers” at TD Ameritrade.  For setting alerts at your broker, contact them and have them walk through the process.


Enjoy your evening,

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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