FYI I'll try to push my post earlier to give peeps more time for prep (not easy given this heat --> loss of sleep --> late starts). Possibly head towards posting in AM lounge the night before but that might take a while
Momentum (charts below): Clues for a possible continuation today of prior momentum. Catching it early, keeping risk tight.
ADV - Very strong R level 33, hitting 5 times. Strong vol rally yday, could break the level today and give a nice entry too.
AMI - Same as yday's post. 1 tick consolidation, at R level, could move nicely.
AVZ - Same as yday's post. Intraday cup&handle + 1 tick cons.
BLT - Gap at 130 closed with huge volume. Looks to me like it's selling to close the gap, but plenty of bids jumping in to absorb. Could now make way for continuation up.
BSE - Tested and bounced off 225 three times now. Increasing vol w a nice level at 240. Break could move.
BUB - Bouncing off 20 truly now. Increasing vol too.
GSW - Same as yday zzzz...still waiting for 310 to get hit into.
INL - At a R level 18, 1 tick trading yday with equal vol with prior day's break out.
Depth action yday: Opened bid 18 offer 19. Sellers smashed 18, and then smashed 17. Bid 16 firmed up over 1M. Didn't touch bid 16, buyers flipped 17 offer back to bid. Sellers smashed 17 again. Buyers stepped up to hold 17 bid again. Closes 17 bid with 1M. This is classic absorption of selling by buyers. I only know this because I'm in the position from the break out at 16 on Monday, and watched depth to manage my trade.
I want more volume ideally to stay in this medium term, but I expect the break of 18/19 to possibly provide that strong vol day.
MCT - 2nd bounce off strong level 75, with strong volume too. Could be set to run now.
MDL - Numerous bounces off S level 45, increasing vol yday too. Break of 46 could be a nice entry. In fact, it's already bid but nobody has touched 465 yet so it has not run away.
MRQ - Intra-day gap 21-22, yday attempted to close it but bounced off the top of the gap. Strong vol too suggesting more bidders at 22-24 absorbing the selling. Entry not clear to me yet, maybe seeking an intra-day level to buy the break. Or buy the OSPA if it opens bid with size. Already holding this as a STT.
OOK - Bounce off strong level 29, increasing vol. Holding this as a STT too.
PGM - Same as yday's post. See for more info. 2 entries here. Early entry via level at 10 still holding, the longer it holds, the better the early entry will be and increase the likelihood that it'll go through 105 too if it does break eventually.
PRR - Same as yday and day before zzz. Increasing vol too. Will kick myself hard if it breaks and I miss this.
SMA - Same as yday. As above post in terms of kicking myself. The longer it consolidates, the more I don't want to miss it. Not to say that I'm expecting this to be more of a winner than other trades! I still have to manage it and if selling kicks in after my entry, I'll be scratching. Break-even is still a good result.
TSV - Increase in vol (barely!) Tested 11 for four days now, still holding and trading 12 yday. Clue that this won't the gap?
Have a nice day all, and stay cool in the summer heat...again...oh dear
...again...oh dear
