Early strength in the stock market pushed our long-side setups higher soon after the market open. Again, I typically don't trade the first 15 minutes of the market, while I wait for volatility and stock spreads to narrow. My requirements for taking an early trade are stringent, so it rarely occurs. I want to contain my risk first, then I'll think about profits. My experience is that trading the market open significantly increases my risk, so I avoid it.

The lesson today is don't worry about "missed trades." It's normal human psychology to think about missed opportunities as stocks on your watch list make big opening moves. Block it out. It's not the plan. Focus on what you need to do to implement the plan. Stick to the plan, stay patient, control your risk, and good things can happen.

GPN LONG 48.17 48.36 $0.19 Trail hit.
MOS LONG 61.60 61.60 $-
MUR LONG 63.75 64.19 $0.44
VR LONG 36.46 36.48 $0.02 Exit end of day.
BMS SHORT 39.27 39.46 $(0.19)
BMS SHORT 39.42 39.52 $(0.10)
HAS SHORT 44.84 44.81 $0.03 Exit end of day.
HRL SHORT 40.77 40.58 $0.19 Exit end of day.
HME SHORT 61.06 60.91 $0.15 Trail hit.
KO SHORT 41.28 40.76 $0.52
NLSN SHORT 33.86 34.07 $(0.21)

Total of $1.04 per share. Multiply average share size to estimate gross earnings. 1000 shares per trade would be $1,040 gross earnings for the day. $12.78 per share for the month. 1000 share per trade would be $12,780 gross earning for the month.

Wide-range bar setups for the next trading day. The day trade setup is only good for the upcoming trading session.

Entries, targets, and stops are based on the day's likely inflection points, and natural support and resistance. Avoid trade until bid/ask spread narrows.

Partial or unedited list of setups. Complete or edited list goes out by email. Subscribe to the distribution list here.

Bullish Long-Side Setups

AET Aetna Inc
AGCO Agco Corp
ALB Albemarle Corp
CI Cigna Corp
CYH Community Health Sys
DDD 3D Systems Corp
GME Gamestop Corp 'A'
GNRC Generac Holdings Inc
HAR Harman Intl
JEC Jacobs Engr Group
LNC Lincoln Natl Corp
MGA Magna Intl Cl'A'
OCN Ocwen Financial Corp
TDC Teradata Corp
TRW Trw Automotive Hldg
UHS Univl Health Svs'B'
UNH UnitedHealth Group Inc
WDR Waddell & Reed Finl'A'

Bearish Short-Side Setups

AMCX AMC Networks Inc Cl A
DIS Disney (Walt) Co
EAT Brinker Intl Inc
KRFT Kraft Foods Group Inc
LINE Linn Energy LLC
RYN Rayonier Inc
WYN Wyndham Worldwide Corporation

Dave Mecklenburg is Publisher of TigerSharkTrading.com.