Free stock pick for 01/07/2011
Free stock pick for 01/07/2011
Dear traders,
Like to note that tomorrow before the open economic news (jobs data) will come out what will (very possible) reflect with gap up/down before the open. Because of that it will be good to wait at least 5-15 min before take any new trade. I have some ideas on the list like:
HANS – daily breakout
SAPE – 15 min consolidation and weekly triangle setup
KLIC - daily long continuation
HOV – breakup above daily 200sma, and monthly bounce
SYK – daily consolidation, and break above weekly 200 and monthly 50sma
There are HCBK, SCHW, SHAW long possibilities. But I like to note that my main occupation is to find reasonable lower risk setups and I think that any trading plan right now because open news will be too aggressive. I will post updates in the room and on email if will be some changes there. Please be caution because we could see long exhaustion, but also daily/weekly correction could start too. Same is with SPF, so please use smaller risk and be smart.
Wish you all great trading day
Kind regards
Ivica Juracic
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Watch ideas:
Long ideas:
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TRADING THE OPEN
During normal market conditions our regular setups generally do very well regardless what time they are taken. Trading right at the open always adds risk. During this low volume choppy market of the summer this risk is more pronounced. It is recommended that new trades not be taken for the first 5 minutes the market is open. I will treat each new trade that sets up during this time as a gap trade and wait till the stock comes back and takes out its 10 minute high or low.
Trading is risky. It is our job as traders to reduce this risk and increase our chances of success.
IMPORTANT: Take only the opportunities that you really like and understand. Always enter a trade with a trading plan. If you have any questions, please feel free to ask me. There is a much greater chance of success in your trading if you understand the trade. That is very important. Taking just a few trades is enough to be a successful trader. Overtrading is probably the number one reason new traders fail. I personally mostly take swing trades. Please remember to keep that in mind!!!!!!!!!!!!!!!
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If you have any questions, please feel free to contact me.
Good luck trading today!
Ivica Juracich
XpertStockTrader.com
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