Day Trading Watchlist for 9/11/14

September 11, 2014

What a reversal in the market today! After a grim open, the SPX dipped just below its support area of 1985 and ripped higher for the rest of the day. We are still well off the highs, but I think the reversal today confirms my viewpoint that we are in a strong bull market and that it will take some sort of new spectre to trigger any meaningful pullback.

I had one trade that really bugged me today - CAMT. This thing was popping in the premarket over a $3M contract win. I felt like it was going to fade off, so I started in with a short but got faked out twice.

The scans are not incredibly exciting today, mostly themes I think are likely to give us some day trading action tomorrow but may also make good swing trade ideas. My best ideas for day trades usually come during the premarket.


NPSP - up on positive FDA news. Looking at the daily chart it looks like 31.30 was a resistance area which might serve as support tomorrow. Looking for this one to trend higher.

ECYT - running right up into a volume pocket right now. I think this can continue its run up to the 200 day moving average.

CERS - this one looks like its bottoming. Bullish action the last 2 days, and it might just be pausing to flag.<div class="image-box">


NETE - this was the nutty momentum stock of the day. It looks like it may follow the same course as SCOK. Watching for fades tomorrow.<div class="image-box">


USAT - along with NETE, this is running on speculation related to mobile payments. It may be hard to get a good entry right here in this one. But if stocks like this continue to run, it could indicate that the money that was chasing the security plays like DGLY, TASR, and MAGS over the past several weeks may be rotating into mobile payments.

EBAY - hit hard today on an analyst downgrade and the speculation that Apple's new payment system is a threat to Paypal. I think this is oversold and tomorrow may be a good day for a long position with risk to today's low.