Took all the drugs out, and T and VZ. Trading in front of boot campers, small, 2 fills, 2 winners. +$200 approx. Have a good weekend! Don
9 fills / 9 000 shares 1 long / 8 short / + 639.00 out quick...building capital...more reserves equal more patience...
Whats a good starting point for accumulating a list of stocks for opens? Any sectors to avoid like banks? Drugs? Is there a basic starting point? News? Should I eliminate stocks that have ANY news or certain news?
You can start with the Dow stocks and work up from there. Each stock is different; you just need to try them out with tiny size and evaluate whether you can make money off of them. If not, ditch them. News is a judgement call. Big stuff like earnings is obviously something you would eliminate a stock for. Small stuff like an "alliance" can likely be ignored. Today I think I caught the only stocks that gapped up and kept going. Worked back from a bigger loss but still took a beating. 3 short losers (SOMEHOW), -1068, 4600 shares
The best way to generate a stock list is to start with the SP500, use stocks trading more than 1 million per day, between $25-$75. Yahoo has a decent screener. From there you will want to group the stocks by sector and understand how the stocks and sectors are related. Take a look thru the sectors and see how they closed the night before...relatively weak? strong? Watch the news and avoid the news stocks. ALSO, be aware how the news in one stock may influence indirectly or directly the movement of a stock in your list. Then watch the pre-market SP500 futures, Bonds, Oil, Gold, and Dollar movement and notice how your stocks may be correlated. Finally, opening indications, if you have them, can get you prepared for potential fills. From there, you can begin to understand how sector rotation works and use that to your advantage. For example, Defensive groups such as UTY, Consumer Cycs, and Drugs GENERALLY make better buys in a weak open...but not always. Maximize your edge. Make a checklist , go over it every morning...and dont be lazy.