The stock market opened with a large up, which gapped many of our stocks. Unfortunately, the few stocks on the watch list that did push higher gapped up and didn't leave big enough targets to take the trade. MET and OHI look like nice trades to the R2 Pivots, but entries through the R1 Pivot left targets in the 30-cent range, which wasn't big enough with the available stops.

The three trades that triggered didn't have any follow-through. IPI triggered early and allowed us to move the stop to breakeven, but traded sideways until stopping out late in the session. JAZZ traded thinly and kept its bid/ask spread a little wide, but after a second trust through the Central Pivot, the trade was too tempting not to take with over $1.20 of distance to the R1 Pivot where JAZZ began the session. Instead, JAZZ traded sideways in a consolidation at the Central Pivot for the remainder of the session, leading us to exit the trade at the market close for a small loss.

JAZZ LONG 58.81 58.71 $(0.10) Exit end of day.
FNF SHORT 25.08 25.05 $0.03 Exit end of day.
IPI SHORT 17.29 17.29 $-

Total of ($0.07) per share. Multiply average share size to estimate gross earnings. 1000 shares per trade would be -$70 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.

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 list of setups. Full list goes out by email. Subscribe to the distribution list here.

Bullish Long-Side Setups

GLNG Golar Lng Ltd
OMC Omnicom Group
RHT Red Hat Inc
SBUX Starbucks Corp

Bearish Short-Side Setups

AIZ Assurant Inc
CWH CommonWealth REIT
EXC Exelon Corp
MDC MDC Holdings Inc
RWT Redwood Trust

Additional stocks may be posted in the Live Trading Room in the morning. The room opens at the opening bell. There is no pre-market analysis or chat, because pre-market data has no effect on how or what I will trade. There are typically no trades within the first 15 minutes of the market session. Request your free invitation to the trading room here.

Dave Mecklenburg is Publisher of TigerSharkTrading.com.