Some of My Favorite Setups for Next Week – 12/18/17

All,

I’ve spent a lot of hours reviewing charts this weekend and wanted to share some with you that I may consider adding next week.  As usual, I’ve highlighted key price areas.  Some need a little work to recapture these areas so we’ll see what next week brings.  As these are all long ideas, I’m only interested above the highlighted areas.   I also put out a video yesterday covering some of these and some other names as well.  Check it out and see if you can stay awake for the full 10 minutes – Weekend Video – Stocks to Watch 12/16/17

A quick note regarding my trading style.  I try to enter positions as close as possible to key technical areas.  If the position works well quickly, I will sell a portion of my position (typically half) to capture some quick swing gains.  I then plan to hold the remaining shares as long as the trend is working and the stock continues to make higher highs and higher lows.  This seems to fit my personality well.  It helps me scratch the itch of wanting to capture some quick gains but I’ve learned many times over (way too many), selling to soon often has a large opportunity cost.    Capturing quick gains is not only good for the P&L, but it helps me mentally as well and helps me to be discipline and patient with my remaining position.  This approach is very similar to how CJ at TTP Trading (@TTPtrading on Twitter) approaches the markets as well.  On the flip side, if the trade goes against me, I want to get out quickly and with small loss.  Small losses aren’t a problem – big ones are.  I typically risk about 0.5% of my trading capital in a trade and rarely more than 1%.

This is just a partial list so be sure to check out TTPTrading.com where I post my full watchlist for each week.  The membership also includes educational content, trade reviews, sector reviews and live alerts.  We are just getting started, but we are off to a great start so far and I believe we offer a great value to our members ($69/month – cancel anytime w/ free trial opportunities).  Feel free to reach out if you have any questions.

Enough talk.  Here’s the charts:

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Thank you all for your time and enjoy the rest of the weekend!

 

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