Watchlist for January 8, 2019

 

A Little Background

 

I have a lot of watchlists. Like seriously a lot. I probably have 1,000 tickers whose charts I look through every day just to watch them move and find plays setting up. Most of these tickers are separated into various sector watchlists. This way I can quickly find sympathy plays if some sector starts to heat up. To keep things reasonably under control during trading hours I have one dynamic watchlist which I update every day/night. This watchlist is the one I keep an eye on at all times during the trading day. I'm currently using TradeStation as my main trading platform, and they have something called RadarScreen which I use to keep track of all my watchlists. RadarScreen is basically a charting platform in spreadsheet format. It's a tabular interface which you can use to put whatever indicators or other company specific information on and can watch it in realtime, plus you can have it generate trading signals and alerts for you. My main watchlist is broken up into 4 parts, basically 4 separate watchlists. These are each grouped together and can be individually sorted by % change, $ volume, volume, etc. The four sections are Overall Market, Daily Watch, OTC In Play, and Listed Runners. 

 

Overall Market

 

In my Overall Market section I have the futures contracts for the main indexes plus a couple other futures contracts, Gold and Oil, which I’m analyzing in order to start playing with algorithmic trading. This Overall Market section is pretty much static. The rest of this watchlist varies day by day. 

 

ES, NQ, YM, RTY, CL, GC

 

Daily Watch

 

These are my main tickers on watch for a play today. I watch a lot of others tickers during the day, but I likely won’t play anything that isn’t in this section of my watchlist. These are generally plays that are setting up for a possible breakout today.

 

PASO - I definitely should have taken this trade when it first set up a few days ago, as I mentioned in my previous watchlist. I did take a small position today as it broke over 0.03. I’m down on that position now, but the overall uptrend is still intact so we will see what tomorrow brings.

 

EWLL - Watching this one for a break over 0.25. I’ll be hesitant to enter too early though, as there is a lot of overhead resistance from its move in early Dec. I also haven’t done any research on this company. I’ll probably look into them a little deeper during premarket.

 

SPLIF - A cannabis play that hasn’t been quite as beaten down as the rest of the sector recently. Watching for a breakout over 0.26.

 

EMHTF - Still watching this one even though it broke out over its recent highs today and consolidated nicely above the level. I just feel like the sector needs a little more consolidation before the next leg up.

 

MMNFF - This cannabis play has put in a bit of consolidation over the last 3 days and is testing a key level. Looking for a breakout over the 3.60 area.

 

MRMD - Similar to MMNFF, this one has consolidated for the last 3 days, although not as cleanly as MMNFF. It also doesn’t have as clean a level to break over and is moving up into a heavy resistance area. I’ll be watching if this can make it over the key 4.20 level, but the high float on this one makes me not very enthusiastic about it.

 

OTC In Play

 

This section of my watchlist is composed of tickers that are generally setting up for a breakout. If not that, then they are just OTC tickers, for the most part, that have made some moves very recently and I am watching for any type of play that I have a quantifiable edge on. I’m usually not looking at these for a trade today, but they may set up for a trade tomorrow, or next week. And if they set up for a trade today, then at least I have a chance to catch them quickly and already be familiar enough with the chart to not need much time to make a decision on entering a trade. Because these are not set up for me to play right away, this section will just be a list of tickers I’m watching in order to move them to the section above when they put in a good day that sets up the play on the daily and hourly chart.

 

Currently, this section is mainly composed of weed stocks. The sector is bouncing after a hard selloff and it may start to present some plays I’m interested in after some consolidation. I don’t like to play the initial trend reversal on the daily chart. I’d rather wait for a higher low to set up and play a breakout to a higher high, signaling a uptrend on the daily chart. And no, this is not my entire cannabis watchlist. These are just the ones I find the most interesting at the moment.

 

NXTTF, GNBT, CNBX, ORHOF, HYYDF, CBDS, FRLF, CANN, SPRWF, BUDZ, KSHB, BLOZF, PURA, NBEV, CVSI, MJNE, CRXPF, OGRMF, HEMP, QBIO, HMPQ, CANB, POTN, AXXA, SHLDQ, HIPH, SHMP, PROP, HPMM

 

Listed Runners

 

These are all listed stocks that have generally made a 50%+ move in one day within the last two weeks or so. I’m not a consistently profitable trader with listed stocks yet, so I’m not going to give my opinion on possible trades here, but these are the listed stocks I’m watching.

 

 

AXSM, MYND, MICT, ALQA, WATT, BTAI, CRMD, PRAN, CCCL, HSGX, VTVT, ADIL, FLKS, RHE, CEI, CATB, CHFS, ABAC