Thursday, August 15, 2019

New Setups - COUP, PRO, TTD

Here's where it gets confusing, the SPY is entering the bigger term range again here after a month or so of trading at the highs. All of a sudden bearish news come in (trade war.. again?) and to be able to bet on the direction of the spy in the next few days seems like a coin toss (maybe the odds are even lower).

I have set up my anticipation setup scan from which I will monitor opening range drives. I realized that just scanning for high relative volume and high opening range at the beginning of trading is not that efficient. I would be skipping stocks here and there and always get something that is either just bouncing from weakness and the like.

I think some of these names might work. COUP, PRO, and TTD are in my strongest stocks scan list as measured by the stocks' 12-month price return. All three seem to be pulling back and retracing. I will watch out for these guys in the first 30 minutes and decide to enter.


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