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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank
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To: Jenna who wrote (89570)3/22/2000 4:01:00 AM
From: Jenna  Read Replies (3) of 120523
 
CEGE and stocks that open at the day high.. and spend 99% of the day trading below yesterday's close are not good candidates for a good daytrade unless you pinpoint the exact 1 time it rose above yesterday's high. ALKS on the other hand was a much neater and easier trade.. On the flip side, MSTR was a classic short set up for a good morning short and long although I never did get in long.

The set up was optimum after the first 3 10-minute or even 15 minute bars (I seldom wait 15 minute bars) ALKS was on an upward trend and spend 85% of the day trading upwards and above yesterday's close. That is a classic setup.

TTIL,not on the watch list but ELNT that was on Tuesday's watch list did very well in two disparate, yet classic set ups.

Another nice and easy set up is the spike of the last 1/2 hour to 1 hour of trading - our Rodeo lassoing finish... There were a number of good trades without chasing the difficult ones. If CEGE hits 25 tomorrow and the market itself is in an uptrend I'll enter, but I'm not in a hurry since I still have others that are trending high. If you have a choice, take always the 'cleaner' and easier trade rather than chasing a setup that is not right.
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