my lake

I ended up trading WHR, LO and MCY. In all 3 cases I took a break of the 9:45 inside bar in the direction of the opening gap. So it was long LO and short WHR and MCY.

I got stopped out on WHR and LO, but MCY really paid off.

I didn't size my WHR position correctly and ended up accidentally taking a 2R hit on it. Nonetheless MCY ended up giving me a 3.5R. So I came out green for the day.



I understand what you said about the financial stocks. I need to start paying more attention to the fundamental reason for a move instead of blindly jumping on.

Maybe I should take the plunge and start a journal of my own!

 

very well done, nice job with stops, WHR could have really hurt if not stopped out

from my experience for the particular setup that you trade earnings related gaps are the best and buyout related gaps are the worst, also if you can backtest and haven't done this yet, try to see how much the gap size affects the future move, to me seems that the bigger the gap the more chances of stock continuing in that direction, that's the reason i didn't go big and aggressive in LO, from premarket i got a feeling it will have a really strong gap and a couple of % up it had on open wasn't too impressive

 

PFG, AFG, PCX and MDC, also watching SKH, PL, CMP

 

I looked for unusually active/volatile stocks this AM using IB's scanner. I filtered for price (>5), volume (>500K avg) and exchange. Then I looked at why it's up/down, favoring earnings news.

I came up with on NYSE:

YGE TRA PLD PCX

We have PCX in common.

On Nasdaq I found:

LNCR

 

I guess today wasn't the day to take longs, huh.

 

- 471, 5500 shares

letting a 1 point loss on a 5 dollar stock, wtf was i thinking

 

will try to concentrate on less stocks today, at least at the open, GXP, NSR and CF

edit: add IR, and put NSR to back list, it had huge up move yesterday afterhours, today's morning is weird

 

- 1300, 8800 shares

made some money on IR and GXP but got stubborn with CF, doubled down, went way over size and loss limits, taking a break until next Tuesday

 

I had a rotten day yesterday myself. Today I broke even on a QQQQ inside bar setup.

My daughter's jeep broke down on the interstate right before the market opened so I missed the AM session. Arg.

Hate it when life interferes with trading.

 

after 3 down days in a row and a short break cutting my size to 300-600, max. loss 500

trading WLT, AEE