VMW -Mentioned by Alex in the comments this weekend - 3 inside bars on declining volume. Partial booked as price approached R2 and closed balance after price couldn't hold $89.00.
QLGC - C&H on the daily. B&B after inside bar. Thought this one could go higher based on the daily pattern, but it reversed on high volume at the cusp of $14.00.
FRPT - Mentioned by Jim in the comments this weekend and also in the HighChartPatterns (HCPG) newsletter. Great start on a break of the inside bar. I don't have much luck with FRPT no matter how perfect the chart looks, every time I get involved, it doesn't follow through.
MTW was a HCPG pick. I missed the perfect entry but did manage to get in on the second wave. Beautiful setup on the daily after Friday's inside bar. Way to go guys!
The first day of the month is often a busy day for institutional buyers. Today was no exception and I noticed that they were heavy buyers of semis, most of which I had deleted from my watch list. So now I'm adding back LRCX and KLAC. I'm also looking at a few other semis such OVTI, and LLTC. They were also heavy buyers of biotechs so I'm adding back GILD. Expect some stock upgrades in these sectors soon as well.
8 comments:
reallu nice trading today.
11:45 IB in LFG bull flag worked well.
hi, you review charts each nite and early morn of your watchlist, to set alerts and mark resistance/support, right? Your results indicate you prepare well.
Do you change your watchlist during the day, or during lunch if market activity changes (new/different scans, etc)? Or do you stick to watching only the specific stocks on your list?
Most of your charts indicate morning success, so i'm guessing you aren't as active in the afternoons...
thanks much
Nice trades Jamie!
Great trading opps today QQQBall! Wish everyday was like this.
Jim, excellent setup!
Gregh,
That's a pretty good summary of what I do. I also look at gappers from Briefing.com.
On slow days I run intraday scans as well.
Today I added some semi stocks to my watch list as I noticed sector leadership in the early going. However, I only caught the tail end of the move on LRCX - a scalp trade.
Many sources to find leaders during the day including Esignal leader lists, IB gainers and unusual volume scans, as well as personalized scans that I developed in Stockcharts.com
I am usually more active in the afternoon. I look for retracement trades.
Thanks Glenn.
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