Tuesday, November 30, 2010

Ideas for tomorrow...

Tomorrow I will be looking at ten stocks for day trades and possible swing trades. I have five long ideas and five short ideas. On the long side I will be looking at RIMM, SLV, NFLX, GDX, and LVS. While on the short side I will be looking at GS, F, CSCO, BAC and PCLN.

Since my account is relatively small; I will be using the 5 minute and 1 minute intra day charts to time my entries and exits in the weekly options one strike out of the money on these stocks. I first learned about this strategy on the site http://www.sanglucci.com/.

I will focus on one trade at a time with most or all of my account and generally look to day trade unless the stock acts perfectly and closes right at the high of the day or I believe that the stock will make a big multi day move.

I have already used up 1 of my 3 day trades so I will be very selective and look to trade only the most perfect setups.

By the way I started today with $806.00 and its now at $830.00. Follow my blog to find out if my account explodes or implodes!

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