My scanner popped an open with RAPT up nearly 50%. Have no idea what they do but I'm experimenting with momentum buying and threw the sink at it... closed up 115%, starting at 17 in pre hours Monday and hitting 52 in after hours before closing at 45.... Made AMC look tame.
RAPT wasn't a particularly good daytrading vehicle. Be leery of throwing the "kitchen sink" at it. Premarket it hit $40 ceiling. Dumped to less than $30 around open and then climb back up to $40 but could never breach $40 until the close. After around 2pm, I was thinking it was gonna do one of those afterhour pop which it did finally at 4pm. So unless you are savvy enough to get the low around the open, you were more or less stuck between 35 and 40 for most of the day. For momentum guys playing potential breakout every time it approached 40, they got chopped up really good.
One of the standard TOS "sizzle" scanners than show the top and worst day performers... just started looking at those and testing out quick momentum buy sell.
I wouldn't hold these types of stocks more than a few minutes. I buy 5k shares, look for a $1 rise, sell and move on.
I'm chicken shit... and only have about the first 2 hours of trading in me because of time difference being in Singapore. I sold as soon as I got my $4 in.... and missed out on far more (seems to be recurring with me) I was also trading MARA and AMC and trying to keep up with those 3 was epic.
First two hours starting at what, Market open at 9:30? Worked out well for you today man. Looks like they were bringing her back just so you could hop on board for the meat of a rebound move, lol. What time did you get your first entry if you don't mind? Was there a reason for the stall at 10:07 (vol 200)/1min and resume at 10:12 to 250Kvol/m ? Congrats
Yeah, fluke luck but welcomed this tough trading year (for me). First entry was 30.70@9:47 and again 34.47@10:21 and was all out by 10:33. This is just the 2nd time I actually trade on scanner, meaning I know nothing about the company and trade strictly on upwards momentum or on bounce from a deep drop. Lot of adrenalin pumping but fun. I discovered that I'm not made for 30 to 90 days waiting for a direction move which stresses the hell out of me.
I don't know if this will be of any use but it is a clean fast way to have a touchstone on a chart, no matter how fast it moves relative to any overlay at all. Simple as can be and after living with it for a bit, if it resonates with whatever else you're doing, it can be second nature to use whenever you decide to pull it out of the toolbox, just a thin 8ema line and a few simple rules and it can keep you in a trade that's got reason to move. Here's 2 minutes on how SB likes to use it. Don't know if it's any use to you, but might be worth a look for the kind of stuff you are diving into. If it gets in the way, dump it. Trading the T-line - cut to the chase ... Stephen Bigalow https://elitetrader.com/et/threads/...t-right-here-baby.335635/page-15#post-5162295