Trader Mike's Notes

  • CARA - Cara Therapeutics, Inc.

    Another pullback that I like but also another stock reporting earnings the first week of August -sigh-

  • SRPT - Sarepta Therapeutics, Inc.

    I was in this in late June, looking for it to bounce back to the June highs. I got bored with it a couple of weeks ago and decided to exercise a stop-out based on time. It's now started a Bollinger Band Squeeze, which could presage a big move -- one way or the other.

  • AAOI - Applied Optoelectronics, Inc.

    Some interesting action here. I found this on the Non-ADX 1,2,3,4 Bullish scan. I like the attempt to hold the 50-day moving average and that it's oversold according to stochastic. But as with so many stocks right now, the wildcard of earnings is right around the corner.

  • CARS - Cars.com Inc.

    A recent IPO near new highs always gets my attention. Plus it's got one of my favorite signal combos today: a Non-ADX 1,2,3,4 Bullish with a Calm After Storm. It's also forming a base that's cup-with-handle-ish. Earnings are due soon though...

  • PVTL - Pivotal Software, Inc.

    One of those earnings gap pullback plays I like so much. I'd like to see it close above 25 to give me more confidence that it's bouncing...

  • APPN - Appian Corporation

    I like that this is now oversold and attempting to bounce off its 50 -day moving average. One could argue that its working on a Cup with Handle(ish) pattern (starting in January), although I think it's pulled back a little too far to officially qualify

  • CMG - Chipotle Mexican Grill, Inc.

    CMG

    Here's another one breaking out of a Bollinger Band Squeeze...

  • WIX - Wix.com Ltd.

    WIX

    I bought some of this yesterday when I noticed the Bollinger Band Squeeze turning into an Upper Bollinger Band Walk -- one of my favorite transitions -- range contraction to range expansion. It's following through nicely as it pushes into new all-time high territory...

  • CATM - Cardtronics, Inc.

    A nice set of signals on this today plus I like the gap fill and that it's bouncing (trying to?) off its 50-day moving average and recently reclaimed the 200 DMA.

  • CASA - Casa Systems, Inc.

    There's really not much to like about the technical picture on this right now but I picked some up in my IRA anyway. This recent IPO has been an IBD favorite and is currently "on sale" after doing a secondary offering the other day. So I thought I'd give it a shot with a stop loss under the April lows.

  • FSLR - First Solar, Inc.

    Nice looking Cup with Handle breakout. Earnings are due soon though...

  • CASA - Casa Systems, Inc.

    I like the pullback on this recent IPO, which is also on the IBD 50 right now. (It's on the SwingTradeBot "Top 50 Bullish" scan list too)

  • SPY - SPDR S&P 500

    SPY

    This is more a broad market comment than a SPY one... I see some flashes of hope for the bulls on the General Market Overview page today. First, the most "unusually active" signal today was the "Stochastic Buy Signal". Next, SPY continues to hold above its 200-day moving average. And finally, the percentage of stocks above their 50-day moving averages, while near oversold levels, is well above its February low. In fact, that indicator is making higher highs and higher lows. So the selling isn't quite as broad-based as it was back in February. It appears, based on IWM, that the small caps are holding up the best. But the market really needs to find some fresh leadership because tech is looking really tired right now. I'll be looking for some buy candidates tonight among stocks in the "Stochastic Buy Signal" and "Strong but Oversold" scans...

  • JBL - Jabil Circuit, Inc.

    JBL

    One of the few "Non-ADX 1,2,3,4" setups I liked today. It's undergoing a test of its 200-day moving average and just closed its post-earnings gap from two weeks ago.

  • LX - LexinFintech Holdings Ltd.

    LX

    Nice looking breakout to a new high for this recent IPO. I wonder when their first earnings report will be issued. I'd hate to step in front of that...

  • QQQ - PowerShares QQQ Trust, Series 1

    QQQ

    We've had quite a bounce off the lows from three weeks ago. The Nasdaq-100 (QQQ ) is just a hair away from making a new all-time high. The other major indices don't look quite as good as QQQ but they are now all back above their 50-day moving averages. (The small caps just managed that feat today.) While this recovery has been impressive on the index level, I'm a little concerned that most stocks are not fully participating. The percentage of stocks above their 50-day moving averages is only at 45(%) today (See the General Market Overview page). If you're a bull, you'd like to see some broader participation. Something to keep an eye on...

  • SNAP - Snap Inc.

    A nice set of alerts on this today. I almost hate to say it (because I shorted it a few days after the IPO & was & still am a non-believer in the company) but this loos ready for another leg higher.

  • FN - Fabrinet

    FN

    Here's a bottom-fishing play. Nice consolidation the last 3 days. I'd like this if it can breakout above February 6th's high.

  • TRV - The Travelers Companies, Inc.

    TRV

    Another post-earnings pullback. This needs to get back over its 50 DMA, which it closed just below.

  • RXN - Rexnord Corporation

    RXN

    Here's another post-earnings pullback that I like. This one also bounced off its 50-day moving average...