Ok, gotta_trade: I have to make this alittle fast, because I am at my office and I don't want anyone to know I am here (trying to get back home to trade!!) First off I posted the UHS daily chart. This is extended and the day before had huge buying AFTER a multi-day rally and closed at the highs. I really like this for a day trade the next day. I expect people who have been long in this stock to take profits after that kind of move so the next day I look be aggressive in shorting it. Second, I posted the 5 minute chart of UHS and SPY. Both gapped down and I want to get short on the first reversal the market and/or UHS makes. Meaning, let it rally and short. UHS is weaker than the mearket. The first sign to look short. the market makes a reversal at 9:55 (#1 on SPY chart). At the same time UHS is breaking a weak base it set up (#1 on UHS chart). So I short under the 9:50 UHS 5 min. bar and put my stop just over it. The second UHS trade (#2 on UHS chart) is a lower high. The market tried to rally, while UHS stayed weak. A good sign to watch short. As soon as I get the lower high on the 5 min chart I short the 10:10 bar low (56.09), put a stop over the bars high (56.39), and I look to see if a 2 to1 target is attainable (there was a small base from the prior day at 55.25ish, so I think this is good). #3 on the chart is for COLINPIP, who asked about a short at 10:55. Colin, this is the next lower high I see on UHS and it was shortable here, for sure. #4 on the chart is the 10:55 bar and I do not see a short here. #3 is at 10:35: This is a very nice lower high that could have been shorted. If that's what you meant,I agree 100% Any questions..please ask. Hope this helps-G Off to the Geez Estate to trade!
Friday Watchlist: LONGS: mv aapl linta sndk gs pot SHORTS: gold ctxs genz intu Going to watch GOLd early on gap up to short. Best stocks are SNDK and AAPL long.
10:19 500 AAPL EXIT 123.29 P/L +335.86 * Once again, I put the wrong target in. This is getting to be a BIG problem for me....ughh