Wednesday, September 26, 2007

Day Trading

I start each morning looking for stocks that "gap up" at the open. The Kirk Report provides a nice list, premarket movers, I tend to use that list as a starting point. Lets take a look at JADE, this was a premarket mover on Kirk's list-- breaks above the opening range are my favorite stocks to trade:

I entered @ 4.61, the first blue circle, after the stock moved past the OR (opening range). I was a little worried on the fifth bar after my purchase, but the OR proved to be support. After that, it was off to the races with the EMA (5) providing support. Once it hit 5.50 I decided to take my profits and run-- perfect.

My next trade, highlighted below, was a success due to the great people at WallStreak. I think Dinosaur Trader was first to announce news on BSC (way before CNBC). I immediately puled up the brokers: LEH, GS, & MS and decided to enter MS @ 62.90. The stock quickly sprinted to $64 within minutes. I then decided to sell @ $63.78, when the sector began to rollover.

1 comment:

Dinosaur Trader said...

Eat it CNBC!

Nice trading, Ragin. You've been on fire.