A gap and go usually kills most of my trading for the day. Today, the market gapped down and continued to sell off. This gapped most of the stocks on the watch list, and without a pullback through the S1 Pivot, I don't have a trade.

We actually ended up with three trades out of the 16 stocks to watch. The one long-side stock, YELP, triggered a long-side trade during lunch. There was enough movement to move the protective stop beyond breakeven, before a nasty sell-off. Even in a weak market, I'm willing to take a long-side trade. I can't predict the future, so I don't know there will be continued weakness. All I can do is follow my rules and control my risk.

YELP LONG 31.72 31.77 $0.05
FE SHORT 36.79 36.46 $0.33
TGT SHORT 68.75 68.70 $0.05 Exit end of day.

Total of $0.43 per share. Multiply average share size to estimate gross earnings. 1000 shares per trade would be $430 gross earnings for the day. $10.44 per share for the month. 1000 share per trade would be $10,440 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

JBL Jabil Circuit
UNM UNUMProvident Corp
ZION Zions Bancorp

Bearish Short-Side Setups

D Dominion Resources Inc
HCP HCP Inc
KMI Kinder Morgan Inc
LEN Lennar Corp'A'
LLY Lilly (Eli)
MDLZ Mondelez Int'l Inc Cl A
MSI Motorola, Inc.
NNN National Retail Properties Inc
NU Northeast Utilities
O Realty Income
PNW Pinnacle West Capital
SO Southern Company Inc
TDC Teradata Corp
WRI Weingarten Rlty SBI
WYN Wyndham Worldwide Corporation

Dave Mecklenburg is Publisher of TigerSharkTrading.com.