The market remains shaky and I am sticking to quick trades for the most part and not carrying too much overnight. The positions I am holding overnight I am slowly building up overtime and I will look to add aggressively should the market turn or they start to see some good volume.
Here is my short list
Infra: All of these busted through their 50dma on big volume recently and are now building strong bases over that support level.
CBI, MDR, KBR
SGR is my favorite and I have had good trades here recently but it is a bit extended for me here. It got a good pop off earnings this month and I think these could follow suit with many of their earning reports coming out over the next month.
Oils:
SD - already in at 6.00 and have flipped some I will trade around this one and look to add on a big volume day. Consistently sees big volume bars sporadically through out the day which tells me many funds are accumulating this one.
XTXI - continues to pullback along its declining 50 dma looking for a volume boom to get in this one. I talk to many traders and this one is on all their radars, when a fund makes the first move this one could lead to substantial gains. But for now the stock is pulling back daily on light volume. So just a watch list name for now.
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2 comments:
Where do you see the volume bars on SD for example? Is this from watching the stock throughout the day or can you access this somewhere?
Sorry I missed your question earlier. Yeah I was watching an intraday minute chart. There were big buyers in the 5.85 to 6 level last week where I took my position. I have locked in some and letting some go which I will continue to trade around as I expect to oil to test the $50 level over the next few days.
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