Into the Close I recognized that one of the stocks I was long was stronger than all the others. That was DNDN, which will now be the first stock I consider to trade as I prepare before the Open tomorrow. Let’s discuss.
Into the Close I was long LVS, DRYS, AIG, and DNDN. SPY broke from its tight range and started an upmove into the last 45 minutes of the trading day. LVS did not trade higher, though it had cleared important technical levels. DRYS did not trade higher though above 7 was significant. AIG in a nice intraday uptrend was stopped in its tracks at 41.30. Not a strong upmove into the Close. But then there was DNDN.
DNDN closed strongly into the Close. It printed near its intraday high for the day. This is old school strong. DNDN found support at 26.70 and then cleared its intraday resistance at 27.27. Rosey called this out and got us in the trade to 50c. Now this move was not explosive above intraday resistance but it was better than all of the other stocks.
After the Close I made a note in my trading journal that DNDN finished the strongest into the Close. This will be the first stock I check when arrive early tomorrow AM. DNDN above 27.50 is my first trading idea. I will look at AIG next as it was the second strongest stock into the Close. LVS above 18.30 will get my attention. I have created a hierarchy for the next trading session.
All of this is subject to change overnight. But now I have started to think about my next trading session and the stocks that are the most interesting for how I trade. I start generating trading ideas for tomorrow right after the Close today.
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2 Comments on “Generating Trading Ideas for Tomorrow”
Bella,
Thank you so much for taking the time to teach. That is the stuff that leaves its ticker well after all trading is done.
Very much enjoyed A Trader’s Day and highly recommend it.
This teaching thing is good.
Bella,
Thank you so much for taking the time to teach. That is the stuff that leaves its ticker well after all trading is done.
Very much enjoyed A Trader’s Day and highly recommend it.
This teaching thing is good.