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Rank: Member
Joined: 6/26/2008
Posts: 15
Location: Minneapolis
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I am looking for stocks that are consolidating in tight patterns and about to breakout- being an Options trader I don't care which way. I also look for solid Head and Shoulder setups to trade.
I used to have to go through hundreds of stocks by hand, but thanks to FinViz I can now just run the through the screener in seconds.
I trade Options because I can take advantage of these breakouts with short-term swing trades.
Here is my watchlist for week of 7/14:
NFLX
SII
BN
FSLR
TBSI
R
THC
SD
CHRS
SOHU
PTR
GS
JOYG
The market is about to open here and I post later my entries.
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Rank: Member
Joined: 6/26/2008
Posts: 15
Location: Minneapolis
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Picked up R this morning as it broke out of its pattern. Looking for a move down to around $60 on this one, which would be a great move on a $65 stock. I picked up 3 November 2008 57.5 Puts @ $3.60 each. 
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Rank: Newbie
Joined: 7/6/2008
Posts: 8
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Thanks for the posts 1 Option, Please keep'em coming. What filters do you use on finviz to find the candidates on your watchlist. I like the non-directional bias with consolidations.
I've been using industry strength/weakness analysis to create a bull and bear list for each week. This week I'm looking for long entries on drug manufaturers, biotechs, gold and silver. Bears are conglomerates, finacials, and retail apparel. Today I picked up puts on UTX, RTN, and calls on OSIP, ELN, and PAAS.
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Rank: Member
Joined: 6/26/2008
Posts: 15
Location: Minneapolis
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Nice bear flags on UTX and RTN forming.
As far as filters, keeping it simple. Sector, Min volume, optionable, price, etc. Just looking for good patterns.
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Rank: Newbie
Joined: 7/6/2008
Posts: 8
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If I have a directional bias I like to enter in anticipation of the break-out. Just curious, if you are entering on a break-out in either direction why bother with "sector"? Also, what min volume are you using? Thanks for the "R" chart.
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Rank: Newbie
Joined: 7/6/2008
Posts: 8
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Just finished looking at the charts on your watchlist 1op...
Looks like some potentially big movers once they breakout, thanks for sharing.
No entry on joyg, fslr, gs? Couldnt chart BN.
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Rank: Member
Joined: 6/26/2008
Posts: 15
Location: Minneapolis
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Should be BVN sorry. Min volume I look for being an options trader is 300k per day. As for JOYG I am looking to buy Puts on yesterdays RIP (up 4%) sometime today. I think the $75 area is a good place to jump in. FSLR broke out yesterday to the upside. Again, watching it today and looking for a retest of the trendline. Same for GS looking to jump in today with some Puts. Overall, at this point what stops the DOW from seeing 10,000? Here are my charts (3m 1d):   
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Rank: Member
Joined: 6/26/2008
Posts: 15
Location: Minneapolis
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Added TBSI Puts (2 September 35 Puts @ $5.30) and also LNCR Calls (August 30 Call @ $1.05)
Not buying this rally one bit.
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Rank: Member
Joined: 6/26/2008
Posts: 15
Location: Minneapolis
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Up 40% on LNCR calls, setting a tight trailing stop to lock in profits.
Missed entry on FSLR yesterday damnit, really breaking out today.
R reversed on me, however I'm going to be patient with this one.
Bad entry on TBSI but I am still thinking we'll see a breakdown soon.
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Rank: Member
Joined: 6/26/2008
Posts: 15
Location: Minneapolis
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