The opening gap in the market gapped many of stocks on the watch list, which made it difficult to find good risk-to-reward ratios on the already extended stocks. The only trade taken in the Live Trading Room the first hour of trade was the one trade that went to the target. The first trade in DFS went straight the the R1 target. I mentioned that I would have targeted the 50% Fibonacci extension if DFS had not already broken the resistance of Thursday's high. After exiting the trade at the initial target, another strong move through the R1 Pivot triggered a trade targeting the R2 pivot. Sure enough, the trade topped out at the 50% Fibonacci level for a breakeven scratch on the second trade.

There were a lot of small loses as a few stocks consolidating at a pivot. The consolidation gave very tight stops, which lessens the risk, but often increases the change of being stopped out.

CTRP LONG 33.78 33.63 $(0.15)
CTRP LONG 33.89 33.99 $0.10
DFS LONG 48.75 49.09 $0.34
DFS LONG 49.16 49.16 $-
OAS LONG 40.19 40.34 $0.15 Trail hit.
WFC LONG 41.14 41.05 $(0.09)
ALTR SHORT 32.37 32.46 $(0.09)
XLNX SHORT 39.99 40.24 $(0.25)

Total of $0.01 per share. Multiply average share size to estimate gross earnings. 1000 shares per trade would be $10 gross earnings for the day. $2.64 per share for the month. 1000 share per trade would be $2,640 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

ANGI Angie's List Inc
BKS Barnes & Noble
CAR Avis Budget Group
CHKP Check Point Software Tech
CNW Con-Way Inc
DGI DigitalGlobe Inc
DHR Danaher Corp
FMC FMC Corp
GPOR Gulfport Energy Corp
IVZ Invesco Ltd
KR Kroger Co
LBTYK Liberty Global Inc Ser C W/I
LEA Lear Corporation
LXK Lexmark Intl'A'
MGA Magna Intl Cl'A'
MPEL Melco Crown Entertainment Ltd
MS Morgan Stanley
MUR Murphy Oil
MYGN Myriad Genetics
OII Oceaneering Intl
PRU Prudential Financial
SBUX Starbucks Corp
SFLY Shutterfly Inc
TRW Trw Automotive Hldg
XEC Cimarex Energy

Bearish Short-Side Setups

AEM Agnico Eagle Mines Ltd
AGNC American Capital Agency Corp
DDD 3D Systems Corp
MRK Merck & Co
RYL Ryland Group
TCK Teck Resources Limited 'B'
WLT Walter Energy Inc
WNR Western Refining Inc

Dave Mecklenburg is Publisher of TigerSharkTrading.com.