We saw a second straight big gap up to start the day. This took most of our stocks out of play, because I consider them overextended. There were three trades, with none of them losing. On both the long-side trades in ANN and AWAY, I'll initially target the 50% Fibonacci extension with an entry through the previous day's high. But as the session winds down, I'll move the target down inside the R1 Pivot and trail a break there. ANN trailed out at the pivot after a late thrust through the pivot failed again. AWAY never quite made it to the R1 Pivot.

ANN LONG 32.43 32.74 $0.31
AWAY LONG 32.25 32.33 $0.08 Trail hit.
PPO SHORT 39.88 39.48 $0.40

Total of $0.79 per share. Multiply average share size to estimate gross earnings. 1000 shares per trade would be $790 gross earnings for the day. $12.35 per share for the month. 1000 share per trade would be $12,350 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

ABC AmeriSourceBergen Corp
CAH Cardinal Health Inc
CBOE CBOE Holdings Inc
CHKP Check Point Software Tech
CREE Cree Inc
DLPH Delphi Automotive PLC
EMN Eastman Chemical
HAR Harman Intl
NOW ServiceNow Inc
SPLK Splunk Inc
WPRT Westport Innovations Inc
YELP Yelp Inc

Bearish Short-Side Setups

ACTG Acacia Research-Acacia Tech
CNX Consol Energy
FWLT Foster Wheeler AG
JOY Joy Global, Inc.
VAR Varian Medical Systems

Dave Mecklenburg is Publisher of TigerSharkTrading.com.