Daily Gaps & Breakouts with Ken Calhoun

I'll post my top daily picks using 1-share OTO blotters.




End of day update: only TZA triggered, and it kept going up for a win. Off to a good start!

 

Can you comment on the order type. I've never used OTO, only bracket orders.
If stock gaps past your stop order at the open does it fill?

Is there a reason for the trailing stop to be an even dollar? The percentage loss you might have to take if you have similar dollar positions would vary significantly.

What is the thinking behind where you enter the trade. You seem to be all over the place in relation to where the stock is trading. I don't see any relationship to prior days price. Specifically WATT & NTN seem to be set so that you are risking a gap & crap scenario.

 

Yeah I was in a hurry today, will fine tune in days ahead.

OTO once order fills it automatically triggers 2nd action, in this case trailing stop. Right re those should vary based on price vs $1, was in a rush.

Re gaps I like those for continuations though right re risk of gap n crap. Will check re fills if gap over trigger, pretty sure yes, this is a new approach for me. Smart questions, will post blotter eod with notes

 

Let's move this discussion back where it belongs.

So are you still holding TZA?

I don't trade the premarket so I have no suggestions.

Where was WATT trading premarket that would justify a 6.20 entry?

Looking at the past few weeks this stock (WATT) has spiked up and then come back down three times. I would think the probability of hitting your stop would be quite high if it ever triggered at the price you had set.

Same question on NTN. What was the premarket high that would justify an entry at 7.70?

The why is more important than the what.

 

winners!

 

i sold that 1-share tza same day slightly over entry for a win

re WATT see pmkt high over 5.6? thats why 6.2 entry trigger, i wanted to see if it would breakout over whole number

NTN premkt high 7.3 so 7.7 made sense for breakout entry

 

To the question of those high entry points, given the history of those two stocks running up then selling off, are you not putting yourself at risk of stopping out. The risk reward doesn't seem to be there.

 

When did you sell and more important why at that point?

 

True, I seldom trade those under $10 for that reason. But my members ask me for help with those type so I cover them on occasion.

The TZA I sold just over breakeven bc it was dropping after extended consolidation.

Today TZA TVIX much bigger wins, sold TVIX a few minutes ago after tightening trailing stops

 

Where did you get out of TVIX? How about TZA?