Horrible day of trading. After a great three-day run of trading, maybe I was destined to give some of it back. In the Live Trading Room, I mentioned how I looked high and low for a few long-side setups in case the market trended higher. I couldn't find any long-side setups that met my criteria, so I was left without a stock that could have rode today's market rally.

The early trade looked like it would go in our favor after entries in FE and CBS quickly went in our favor and allowed us to move stops to breakeven. Note that the CBS entry should be 46.31, but I was late calling the trade in the Live Trading Room, but still wanted the entry at 46.24. The market and stocks turned, but I continued to trigger more short-side trades at Central Pivots.

I can't predict the future, so I can't predict what the stock market is going to do. All I can do is follow my plan and control my risk. It was a bad day of trading, but by controlling my risk, I'm able to take seven losers and still have manageable losses. Also, because I can't predict the future, I don't know if the market is going to change directions and allow my last trades to hit their targets and dig me out of my hole. A late market trend change has dug me out of holes many times before.

BRCM SHORT 33.22 33.38 $(0.16)
CBS SHORT 46.24 46.12 $0.12
CCI SHORT 68.45 68.60 $(0.15)
CXW SHORT 34.01 34.10 $(0.09) Exit end of day.
FE SHORT 38.15 38.15 $-
FE SHORT 38.15 38.27 $(0.12)
LRY SHORT 37.92 38.19 $(0.27)
RYN SHORT 52.60 52.82 $(0.22)
WY SHORT 28.14 28.29 $(0.15)

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. $8.18 per share for the month. 1000 share per trade would be $8,180 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

AIG Amer Intl Group
AVGO Avago Technologies Ltd
BBBY Bed Bath & Beyond
BHI Baker Hughes Inc
CAH Cardinal Health Inc
COF Capital One Financial
D Dominion Resources Inc
ENB Enbridge Inc
GM General Motors Company
GPN Global Payments
JCI Johnson Controls
KLAC KLA-Tencor Corp
KRFT Kraft Foods Group Inc
LYB LyondellBasell Ind N.V. 'A'
MCHP Microchip Technology
MDT Medtronic, Inc
NDAQ NASDAQ OMX Group Inc
NUE Nucor Corp
OI Owens-Illinois
PKI Perkinelmer Inc
PNR Pentair Inc
SBUX Starbucks Corp
STWD Starwood Property Trust Inc
TEL TE Connectivity Ltd
TJX TJX Companies
WLL Whiting Petroleum
WSM Williams-Sonoma

Bearish Short-Side Setups

BKS Barnes & Noble
SWY Safeway Inc

Dave Mecklenburg is Publisher of TigerSharkTrading.com.