Monday, May 19, 2008

Daily Summary


I caught a nice longs in UA and TK. UA was my biggest winner. I had a 200 share trade in TK at 52.05. I sold 100 at 52.70 and 100 at 52.03. I went into CCJ four times but got shaken out on all my trades and lost money each time. That stock had a nice move though on a break of 42.50.

UA 5 min chart


tatu said...

could you tell me how you find these "Opening breakup" stock every day?
thank you!

OBAT said...

The key is too look for stocks setting up on the daily charts near important levels. When the market opens I see if the stock breaks those levels on decent volume. If they do I see if they setup a low risk entry near the opening range.

I think my stocks come mainly from 2 sources.

I find stocks from my watchlist, stocks that I found from prior day or days that are setting up.

I also use my real time gap filters and watch stocks that gap up or down pass important support or resistance levels.

tatu said...

thank you for your detail reply,it really helps.
good luck!

About Me

I have been trading for 5 years. It took close to a year before I became profitable. I find that I am improving gradually each year. My method of choice is scalping. My edge lies in tape reading NYSE stocks and staying on the side of the specialist. That is the method I learned when I started. As I build up my capital I will try new styles and trade new markets. In late 2006 my trading hit a rough patch after the introduction of the NYSE Hybrid system. For most of 2007, I have been on a search for new strategies that would help me adapt to the market.