We had some serious shake & bake yesterday as my note on the chart below shows. Around 1:20 I pulled the plug on the remaining trades of mine that hadn’t already been stopped out. I wasn’t very happy about it at the time since I took 8 trades and only had 1.5R of profit. But as the market kept plunging I quickly felt much better about eeking out a gain for the day. Funny how that works…
Some linkage:
- Teresa Lo posted a position sizing calculator for ETFs. She also has some important notes about position sizing and correlation on that post.
- Ugly Chart’s daily list of stocks closing at new all-time highs is free once again.
Potential swing trades:
Longs – None
Shorts – None
Potential day trades:
(From Briefing.com)
Gapping Down
coming…
Gapping Up
YRK +34% (JCI +3% makes bid for company; up in sympathy: LII +8%), PKS +15% (to pursue possible sale of the company), SEAC +13% (bounces after 16% drop yesterday), GSIC +7% (Piper upgrade), CWTR +5.3% (reports Q2), BCON +5% (momentum), RUTH +4% (mentioned on Mad Money), FDRY +3.8%, BIDU +3.1% (bounces after 5% drop yesterday), MYOG +2.5% (target raised to $30 at Lazard), CUB +2.4% (mentioned on Mad Money), SIRI +2.1% (announces wearable satellite radio), FCEL +2% (to modify its fuel cell power plant)… Under $3: NVAX +43% (positive preclinical results), SATC +19% (begins shipping products), MCEL +6% (continuation of general momentum in Alternative Energy related plays).
Intraday Updates:
- 00:00
Disclaimer & How I use this list
Actually, the whole series of articles the past few weeks on Powerswings.com has been pretty interesting. Teresa has been going over the process she uses to do her “homework.”
Hey Mike,
Great link about the scalping vs. swing trading,I got a kick out of that.
I’ve posted it on my blog.