With some first-hour sideways price action, we took a quick stop-out in a Macy's short. Two hours into the session, the market rolled over and triggered numerous short-side trades, but the lunchtime reversal gave back much of the gains. The market sell-off saw powerful downside moves in JWN, FIS, and FAST without providing pullbacks to slide a trailing stop behind. It's tough to give back 40 cents in a trade, but I like to give a stock already with a breakeven stop some room to hit a big target.

QIHU LONG 43.76 43.94 $0.18 Trail hit.
FAST SHORT 47.55 47.42 $0.13 Trail hit.
FIS SHORT 43.68 43.64 $0.04 Trail hit.
GSK SHORT 50.88 50.85 $0.03 Trail hit.
JWN SHORT 58.29 58.20 $0.09 Trail hit.
M SHORT 47.60 47.90 $(0.30)
M SHORT 49.03 48.70 $0.33
TRV SHORT 81.53 81.12 $0.41

Total of $0.91 per share. Multiply average share size to estimate gross earnings. 1000 shares per trade would be $910 gross earnings for the day. $2.63 per share for the month. 1000 share per trade would be $2,630 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.

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Bullish Long-Side Setups

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Dave Mecklenburg is Publisher of TigerSharkTrading.com.