I was hesitant to jump in with avg. volume but took a shot anyways since RIO printed a nice hammer on the 15M/3B. It was a nice quicky. Did you catch this one this morning?
Saw alot of great NYSE rockets today with or with out gaps: pot crs ne hoc gsf wlp al lvs Oils. I'm beginning to think that playing the gap only isn't my style. I like the base and break, reversals, line breaks(best shown of 30" charts) Alot of money and muscle go into these issues. Saw it happen in the naz yesterday and have forgotten about ny stocks for weeks. I put on the new high/low scan for the day and see which one looks like a good break out. Really amazing but ended up trading naz: NVDA on a X gap style-OR break, JOYG on OR line break, missed AKAM 45 line break.
I focused on NYSE stocks early on due to NASDAQ (Island) quote problems. Just using my usual suspects list I was able to get in on two nice trades - VLO gap B&B and AL B&B. Later on got into AMZN - three B&B scalps from intraday pivots - avg. 50 cents each.
What scanner are you using? Did you find all the NYSE picks in time to setup an entry or after the move was underway?
Jamie, Awhile a go I put a Watchlist of 300 ny and naz stocks that have good atr, >$40, but of course some move well but who knows which ones are going to move. There were 45 stocks >$+2, or 15%//1>-2 at the close. Recently I'm seeing high priced stocks moving up. That could mean monied traders are moving in and not messing with the tiny fighter stocks. By having a large Watchlist it allows me to see what's moving without having to grab stocks making new highs putting them on a list, etc. Too rushed. I like the wide list approach. I might add some premkt gap plays or most% up after the open. A few minutes into the open the lights flash next to the stocks moving up/dn, I reorganize them into "most points up" (not %)and focus on those making highs, flip through 1 and 5 min charts to see what pattern looks good: momo, pullbacks, hooks, line breaks. I recognize the names and if it's a sector move like oil on Friday I might concentrate on them. 80% of stocks move with the market and I find just looking at gap plays can be tedious, finding the right gap, etc, vs money and muscle pushing sector stocks. Bet the oils are really up Monday with all the stuff going on in Nigeria. I use Scottrade which as a best performers, and adjustable hi/lo scans. Also has Trade Ideas which I use for premkt but that's it. CNN also though delayed. It's more than what I need.
Thanks for the info. 300 is too many for me, but I'm thinking of building a similar type list to run through the Trade_Ideas scanner so that I can get a few more trades in each day.
Jaime, Whadaya mean 300 too many? I just need a few hundred mo' eyeballs. Tried it this am, you're right too much so going back to pre mkt and 5 min open gaps. Enough of that >35 stocks. Dwives me QUAZEE!
12 comments:
I was hesitant to jump in with avg. volume but took a shot anyways since RIO printed a nice hammer on the 15M/3B. It was a nice quicky. Did you catch this one this morning?
Hi JR,
Nice trade. I took VLO on third 15 min. bar. It also moved up quickly.
WFR looks like a nice breakout play for Monday on the Daily above $62. Looks like $2 profit minimum.
We shall see.
Thanks JR,
I also see a nice pivot point trade setting up at $61.00 on WFR. The real break as you indicate is $62.00 leading to a potential gap fill.
I agree. I would be willing to engage 1/2 above todays high and the other 1/2 above $62.
Saw alot of great NYSE rockets today with or with out gaps: pot crs ne hoc gsf wlp al lvs Oils. I'm beginning to think that playing the gap only isn't my style. I like the base and break, reversals, line breaks(best shown of 30" charts) Alot of money and muscle go into these issues. Saw it happen in the naz yesterday and have forgotten about ny stocks for weeks. I put on the new high/low scan for the day and see which one looks like a good break out. Really amazing but ended up trading naz: NVDA on a X gap style-OR break, JOYG on OR line break, missed AKAM 45 line break.
I focused on NYSE stocks early on due to NASDAQ (Island) quote problems. Just using my usual suspects list I was able to get in on two nice trades - VLO gap B&B and AL B&B. Later on got into AMZN - three B&B scalps from intraday pivots - avg. 50 cents each.
What scanner are you using? Did you find all the NYSE picks in time to setup an entry or after the move was underway?
Jamie,
Awhile a go I put a Watchlist of 300 ny and naz stocks that have good atr, >$40, but of course some move well but who knows which ones are going to move. There were 45 stocks >$+2, or 15%//1>-2 at the close. Recently I'm seeing high priced stocks moving up. That could mean monied traders are moving in and not messing with the tiny fighter stocks. By having a large Watchlist it allows me to see what's moving without having to grab stocks making new highs putting them on a list, etc. Too rushed. I like the wide list approach. I might add some premkt gap plays or most% up after the open. A few minutes into the open the lights flash next to the stocks moving up/dn, I reorganize them into "most points up" (not %)and focus on those making highs, flip through 1 and 5 min charts to see what pattern looks good: momo, pullbacks, hooks, line breaks. I recognize the names and if it's a sector move like oil on Friday I might concentrate on them. 80% of stocks move with the market and I find just looking at gap plays can be tedious, finding the right gap, etc, vs money and muscle pushing sector stocks. Bet the oils are really up Monday with all the stuff going on in Nigeria. I use Scottrade which as a best performers, and adjustable hi/lo scans. Also has Trade Ideas which I use for premkt but that's it. CNN also though delayed. It's more than what I need.
Jamie,
Forgot to add, I also play with the 30 min charts with the 1&5 min for longer time frame breaks which can really move out.
BL,
Thanks for the info. 300 is too many for me, but I'm thinking of building a similar type list to run through the Trade_Ideas scanner so that I can get a few more trades in each day.
Jaime,
Whadaya mean 300 too many? I just need a few hundred mo' eyeballs. Tried it this am, you're right too much so going back to pre mkt and 5 min open gaps. Enough of that >35 stocks. Dwives me QUAZEE!
BL,
LOL, Okay then I'll stick my 50.
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