It was tough week of trading. We took a lot of trades for not much pay-off. Today gave us a rough morning, and only a last hour rally put us back on the plus side. There was also a little bad luck is getting ticked out of AWAY on a trailing stop for 22 cent, when the trade went for $1.26.

A few thoughts from today and for the week: First, there were significantly more trades stopped out at the initial stop. This is usually a sign of more volatility. Two easy ways to defend yourself against higher volatility is ignoring the first thrust, and waiting longer into the session before taking trades. We had two trades from the first hour that hit the initial stop in CCE and GPS.

Second, there were also two trades that setup but didn't trigger in the first hour that would have stopped out in IP and FLS. Entering a trade above the high or low of the trigger bar does help keep you out of bad trades.

Third, if you are hitting a grind trading, it could be a good time to take a break from your trading. Don't let trading wear you down. If you are tired, sleep in. If you need a few days away from your computer, take a break.

AOL LONG 38.02 38.40 $0.38
AWAY LONG 30.76 30.98 $0.22 Trail hit.
CCE LONG 37.97 37.73 $(0.24)
GPS LONG 45.39 45.17 $(0.22)
GPS LONG 45.36 45.47 $0.11
IP LONG 49.12 49.10 $(0.02)
RHT LONG 50.78 50.53 $(0.25)
TIF LONG 78.70 79.14 $0.44
CCI SHORT 73.32 73.54 $(0.22)

Total of $0.20 per share. Multiply average share size to estimate gross earnings. 1000 shares per trade would be $200 gross earnings for the day. $8.44 per share for the month. 1000 share per trade would be $8,640 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

ALKS Alkermes plc
CAH Cardinal Health Inc
ESRX Express Scripts Holding Co
EXPD Expeditors Intl of Washington
GME Gamestop Corp 'A'
HCA HCA Holdings Inc
LGF Lions Gate Entertainment
MYL Mylan Inc
YUM Yum Brands

Bearish Short-Side Setups

A Agilent Technologies
CAM Cameron International Corp
CNQ Canadian Natural Resources
ERJ Embraer SA
HP Helmerich & Payne
OFC Corporate Office Prop Tr Sbi
SMTC Semtech Corp
SNDK SanDisk Corp
STX Seagate Technology

Dave Mecklenburg is Publisher of TigerSharkTrading.com.