Luck is where preparation meets opportunity. Earl Nightingale
I do not believe in luck. Luck is hard work, turned inside out. 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
1. The previous run was almost 600%
2. The red slotted line indicates the day CNBX hit my scan
3. A SS Buy Signal hit yesterday
Simple Simon Short Candidates
AOI, CELP, PETX, PMT
1. Previous drop percentages are identified
2. A Simple Simon Sell signal hit last week
3. If AOI drops under the next Support ($14.35) look for a test of the next
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 email@example.com