08:58 Gapping Up Gapping up on strong earnings/guidance: SMSI +6%, CELL +6%, AIG +2.5%.... Other News: BIDU +5% (up in sympathy with Yahoo's investment in Chinese e-commerce operator Alibaba.com), MSTR +3.5% (files 10-Q), ILSE +7% (Wachovia Upgrade), DPH +7% (JP Morgan upgrade), CKCM +3% (bounces after 27% drop yesterday), QCOM +3% (Morgan Stanley upgrade), OVTI +2.7% (collaborates with NASA), CHT +2% (privatizes with $2.56 bln US share offer), RMTI +25% (positive patent news).... Under $3: TMTA +48% (reports JunQ), QEE +21%.
I really like this post ..... My advice is to wait until the last 90 minutes of the day and re-sample. I basically watch for signals in my list during the intraday hours between the first 90 minutes and the last 90 minutes - sometimes things happen that yield useful information upon which I dont necessarily trade but note for later .....
Very nice post and strategy My broker has a market scanner, and I've run it today at 9.15am to get a list of stocks that gapped up. Here is the list and the results: AIG: in at 63.20 out at 62.85 SMSI: in at 5.90 out at 5.77 CELL: in at 25.50 out at 25.50(I went long on this one.. and got stopped) ILSE: in at 19.65 out at 19.35 FRO: in at 42.53 out at 42.00 Grand total: 1.31$x500 shares=655$
I play online poker when I can't find any good trades, or don't feel good about the day. Party poker has really soft tables and you can fairly consistently make money there... same kind of action, on a much smaller scale, however. Just a thought.... - The New Guy
Fades for today: MSTR-Bought break of 10 am high, still in QCOM-Bought break of 10 am high, still in OVTI-Bought break of 10am high, still in CKCM-Have order in to buy HOD CELL-Triggered SMSI-Triggered ILSE-Triggered RMTI-Pass TMTA-Monitoring CHRD-Triggered ACTI-Pass I'll post results later. These fades came from the list of aftermarket trading from last night which I posted and todays premarket. I hate watching more than 8 stocks (4 per screen) because then I need to go to a 3rd screen and it makes things hairy. I had 9 trades on last week at one time and it sucked, I missed a lot of money that I should have taken off the table.
On day trades: If you're day trading you almost have to be in there with orders in the AM but I rarely place orders in the 1st 15 minutes except where I can find a European actively traded stock @ open with price that moved over there & I can get it near previous close (below FTSE/DAX/CAC) on the open ------> RTSI is a favorite of mine to trade this way. If you've closed your positions out & will stop trading then GO ENJOY your day ! Be aware, however, that a lot of professional $$ is working in the last 1/2 hour (traders closing positions & institutions scanning for dumpers, etc. I do most of my trading in between the OPEN HOUR & CLOSING HOUR. On interday - setup trades: Depends on if you auto trade --> I don't,since I prefer to use "alert" & establish a position off the action 2 that time. Its more work but I get a "feel" & have better executioon control. WHAT ARE YOU TRADING ?? I trade stocks & stock options with quite a bit of hedging.