Live Trading Room Stock Setups For July 1 |
By Dave Mecklenburg |
Published
06/29/2013
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Stocks
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Unrated
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Live Trading Room Stock Setups For July 1
We had a big trading day to finish out the month. The day could have been enormous if we could have found stops in HAR and IRBT before they began their pivot-to-pivot moves. The spread was just a little too wide in HAR, pushing the stop beyond 35 cents, as a trade triggered around 9:51. HAR would make an almost $2 move through the R2 Pivot. I will take a trade when the bid/ask spread is over three cents, but I don't take trades if the spread plus the initial stop go over 35 cents.
Even without the big trades in HAR and IRBT, we hit a big winner in MOS. This was the second entry in MOS. I will take one additional entry in a stock should a second setup form at a key inflection point.
CA LONG 28.51 28.42 $(0.09) ETP LONG 50.17 50.54 $0.37 Trail hit. MCO LONG 61.03 61.20 $0.17 Trail hit. OI LONG 27.93 27.93 $- OI LONG 27.83 27.85 $0.02 Exit end of day. WPRT LONG 32.78 33.54 $0.76 Exit end of day. DK SHORT 28.96 28.96 $- DVN SHORT 51.84 51.94 $(0.10) Exit end of day. EXXI SHORT 22.69 22.34 $0.35 LINE SHORT 33.60 33.40 $0.20 Trail hit. MOS SHORT 54.01 54.32 $(0.31) MOS SHORT 54.22 53.37 $0.85
Total of $2.22 per share. Multiply average share size to estimate gross earnings. 1000 shares per trade would be $2,200 gross earnings for the day. $14.22 per share for the month. 1000 share per trade would be $14,220 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
CHD Church & Dwight CMCSA Comcast Cl'A' DOX Amdocs Ltd EA Electronic Arts, Inc. HSP Hospira Inc RHP Ryman Hospitality Properties SLW Silver Wheaton Corp TDS Telephone & Data Systems Inc UA Under Armour Inc
Bearish Short-Side Setups
AGCO Agco Corp BMY Bristol-Myers SQUIBB CBST Cubist Pharmaceuticals DD Dupont(E.I.)Denemours DE Deere & Co EMN Eastman Chemical FMC FMC Corp MRK Merck & Co
Dave Mecklenburg is Publisher of TigerSharkTrading.com.
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