Trader Mike's Notes

These notes are here primarily to show my process and how I use the scans to find setups. This is NOT an attempt to be a stock picking service! I want people to use the site's extensive functionality to find their own setups which match their trading plans, strategies & risk tolerances.
QQQ - PowerShares QQQ Trust, Series 1

This obviously had a nasty break of its 50 DMA yesterday. But one could argue that its uptrend is still intact. As long as the August 19th low holds, it's still making a series of higher highs & higher lows. The same can't be said for the S&P 500, Dow and even the Wilshire 5000, which have all taken out their mid-August lows. The reaction to the Fed statement tomorrow could be make or break.

HLBZ - Helbiz, Inc.

Last week I was going to post that this is one of the wackiest charts I've ever seen. I think after today that it has claimed the top spot! I just keep it on a watchlist for entertainment purposes. I wouldn't touch it long or short.

CRM - Inc

This has been dead money for the last 12 months. The positive side of that is that it's built a nice long base to lift off from. I really like the "Calm After Storm" plus "Non-ADX 1,2,3,4 Bullish" combo it's showing today. It has also (essentially) filled the gap from last week's earnings report. So the risk reward seems pretty good to me here with a stop loss around 255 and an initial target of 300.

AFRM - Affirm Holdings, Inc.

This is sitting at an interesting spot after last week's Amazon partnership. I'll almost never buy something this extended -- it's up 40% since Friday. At the same time one could argue that there's still room to run since the all-time high is over $146. I could easily see last week's gap holding and the stock just drifting higher. And the cherry on top is a looming earnings report next week. As much as I'm tempted to get long I may have to wait for the dust to settle after earnings.

LC - LendingClub Corporation

I noticed this on the "STB 50 Bullish In-Play" scan tonight. An Expansion Breakout from a Bollinger Band Squeeze will always get my attention. Plus this space (also see UPST) and many Fintechs have been hot lately. i might jump in this tomorrow (with a stop loss at today's low) if doesn't gap up.