We finally saw some follow-through on our stocks as the market continues to trend higher. We needed some patience and the discipline to let the winners run.

With the recent sideways action, I've been looking for double confirmation or ignoring the first thrust of some entries, particularly early in the day. Looking back at our morning loser of DLTR, I'm still satisfied with that trade. I ignored the first thrust, and receive multiple entries signals. The stop was sufficiently wide, but it just wasn't to be. There's always a little extra risk in the first hour, with higher volatility, not knowing the day's trend, and weaker support and resistance. But it's usually the early morning trades that turn in the big winners that are necessary for monthly profitability.

The patience of waiting for multiple signals and clearing overhead resistance paid off in LTD. The orderly pullbacks allowed us to ratchet up the stops without ever getting stopped out up to the R1 Pivot. A similar trade in LBTYK wasn't as kind with the trailing stops, before LBTYK eventually hit the R1 Pivot, too.

DLTR LONG 49.58 49.30 $(0.28)
LBTYK LONG 73.22 73.42 $0.20 Trail hit.
LTD LONG 52.32 53.26 $0.94
PCG LONG 47.30 47.14 $(0.16)
PCG LONG 47.27 47.10 $(0.17)
ROST LONG 66.09 65.83 $(0.26)
TMO LONG 83.36 83.92 $0.56
ARIA SHORT 17.41 16.98 $0.43
BX SHORT 22.48 22.35 $0.13 Exit end of day.

Total of $1.39 per share. Multiply average share size to estimate gross earnings. 1000 shares per trade would be $1,390 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

C Citigroup Inc
CNX Consol Energy
COF Capital One Financial
DGX Quest Diagnostics
FIS Fidelity National Information

Bearish Short-Side Setups

DISH DISH Network Corp Class A
HCP HCP Inc
PANW Palo Alto Networks Inc

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.