There was a big gap up at the open, but an immediate pullback gave us a chance at some long-side trades triggering. An upward trending market after the pullback made for some easy trades.

The biggest problem was not getting acceptable stops that controlled our risk. While SNI and VIAB went to their targets, we had to pass on trades in NSM, TWX, and YUM when good stops or worthwhile reward-to-risk ratios didn't form. Even the one short-side trade setup of UHS made a $2 move, but the initial reward/risk ratio wasn't quite good enough to take the trade.

DTV LONG 63.61 63.61 $-
SNI LONG 69.20 69.55 $0.35
VIAB LONG 68.78 69.12 $0.34

Total of $0.69 per share. Multiply average share size to estimate gross earnings. 1000 shares per trade would be $690 gross earnings for the day. $2.35 per share for the month. 1000 share per trade would be $2,350 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

CAR Avis Budget Group
CMA Comerica Inc
COF Capital One Financial
DDD 3D Systems Corp
DFS Discover Financial Services
EDU Oriental Educ & Tech Group
EMR Emerson Electric Co
HAL Halliburton Co
HOT Starwood Hotels&ResWorldwide
IR Ingersoll-Rand Plc
LNC Lincoln Natl Corp
NAV Navistar Int'l Corporation
NOW ServiceNow Inc
OCN Ocwen Financial Corp
PNC PNC Financial Services Group
STI SunTrust Banks
STT State Street Corp
TRW Trw Automotive Hldg
WYN Wyndham Worldwide Corporation
ZION Zions Bancorp

Bearish Short-Side Setups

FIVE Five Below Inc
FRC First Republic Bank
MDC MDC Holdings Inc
RYL Ryland Group
UHS Univl Health Svs'B'

Dave Mecklenburg is Publisher of TigerSharkTrading.com.