We had a great day of trading, including catching the dollar move in AIG. AIG is a good example of needing to be in a trade for most of the session to capture the potential of a wide-range bar. We entered the trade at the end of the first hour of trading and then had to wait for almost four hours to exit. AIG is also a good example of trailing a stop at the initial target. AIG broke through the R1 pivot and never came back, allowing us to target the inside of R2.

SunTrust Banks (STI) is a good example of a rejected trade that performed well. At the end of the first hour in the live trading room, I rejected the setup in STI, because the there was only 28 cents of profit to the R1 pivot, with a 28-cent stop. That's not the type of reward-to-risk ratio that I want to take a trade. STI ultimately pushed all the way to the R2 pivot for a 65-cent trade, but I needed a better reward ratio at the closest inflection point to take the trade.

Some Internet problems caused me to open the live trading room five minutes late. Keep in mind that I almost never take trades the first 15 minutes of the session, so we didn't have any missed trades the first hour.

EXPE LONG 61.75 62.25 $0.50
ERJ LONG 34.36 34.36 $-
GD LONG 68.81 69.06 $0.25 Exit end of day.
AIG LONG 38.74 39.82 $1.08
USG LONG 27.43 28.07 $0.64
LGF LONG 23.36 23.41 $0.05 Exit end of day.
BVN SHORT 24.05 24.05 $- Trail hit.

Total of $2.52 per share. Multiply average share size to estimate gross earnings. 1000 shares per trade would be $2,520 gross earnings for the day.

Wide-range bar setups for the next trading day. The day trade setup is only good for the upcoming trading session. Additional setups may be available in the live trading room. Email support for a free password.

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.

Bullish Long-Side Setups

AMT American Tower Corporation
MDC MDC Holdings Inc
DLR Digital Realty Trust Inc
ILMN Illumina Inc
HOT Starwood Hotels&ResWorldwide
LAMR Lamar Advertising 'A'
NUS NU Skin Enterprises'A'
HD Home Depot Inc
BX The Blackstone Grp L P
NTRS Northern Trust
BKD Brookdale Senior Living Inc
DUK Duke Energy Corporation
VIAB Viacom Inc Cl 'B'
MNST Monster Beverage Corporation
WMT Wal-Mart Stores

Bearish Short-Side Setups

NONE

Dave Mecklenburg is Publisher of TigerSharkTrading.com.