He actually had some good picks and opened my mind up to a interesting way to trade. I do wonder what happened to him myself.
Faded the gap up on OVTI. Shorted 15.22 @ 9:41 Covered at 14.88 @ 9.48 I was looking for it to drop under 15 and cover there. It passed through 15 and kept going, covered when decline stalled.
I liked this thread too. If you are interested in gaps, I did find a great blog mentioned on ET a few months back. Check it out: http://traderx.blogspot.com/
I don't post on this anymore cause I'm paper trading my strategy again after I modified it a little. I'm hitting around 66% win rate. Seems like I have 1/3 small losers, 1/3 small winners(which cancel out the losers), and 1/3 that are significant winners. This morning I'm looking at HD, XMSR, and RCL.
XMSR didn't trigger. RCL Long at $44.83, stoped out at $44.91 from the shake out around 45. Still had some movement in it though. +.08 HD Short from $42.47, closed the gap and covered at $41.93. + .54
List for today. AMED KOSP FNM SINA I've found that in NASDAQ stocks that they tend to have more noise off the open and take a little while longer to settle into a trend. For NYSE stocks, they seem to behave better and I can enter earlier.
AMED - Didn't trigger KOSP - Didn't trigger FNM - Short at 57.86, cover at 57.63 +.23 SINA - Long 21.93 Stoped out 22.27 +.34