Being in the right stocks will largely dictate the type of day you will have. If you are in the most In Play names you are going to generate PnL commensurate with your skill level. This is why we have an AM Meeting to discuss the stocks that are most likely to be In Play for the day. Even if you aren’t in the best stocks on the Open there is an opportunity to get involved later in the day. I observed one trader who had a pretty poor Open move over to AMGN in the afternoon and turn around his day. I’ll give you one guess as to what price he got long.
6 Comments on “One Observation From The Trading Day”
so you get long at 55 and hold through the whole day?
so you get long at 55 and hold through the whole day?
yep, someone got trapped after 11:30 or i guess that’s 12:30 out there. made for a really nice end of day trade. i was lucky to have this one on my long term radar as a possible short. if it wasn’t for this i probably would have missed the news as it wasn’t on many of my am feeds or was buried within and not noticeable. i gotta thank gman for mentioning that buy the low algo. because that kicked in after the first 30 mins in amgen, once the flag was complete and tested.
thanks for a great website guys.
yep, someone got trapped after 11:30 or i guess that’s 12:30 out there. made for a really nice end of day trade. i was lucky to have this one on my long term radar as a possible short. if it wasn’t for this i probably would have missed the news as it wasn’t on many of my am feeds or was buried within and not noticeable. i gotta thank gman for mentioning that buy the low algo. because that kicked in after the first 30 mins in amgen, once the flag was complete and tested.
thanks for a great website guys.
fefe,
generally we look for measured moves. so if it moves up 1.5pts on the open then we will look for something similar after consolidation.
steve
traderlars,
this one definitely should have been on your radar even before the market opened! u need to look into getting a better newsfeed or trying our am call 🙂
steve