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The market rollover at lunchtime triggered two huge shorts. ARHM is the big move of the month. An afternoon trigger through Tuesday's low, after an orderly pullback, netted $1.36. ARHM slammed through the initial S1 target, letting us target the 50% Fibonacci extension at 45.39 and trail out at 45.58.
CYH made a move from the Central Pivot to the S1 Pivot without hitting a trailing stop. FCX made that same pivot-to-pivot move, but just ticked out at a trailing stop of 31.96.
I rarely take trades within the first 15 minutes, but CCJ setup a trade in the 11th minute. With the bid/ask spread down to three cents and a 19-cent stop, a trade triggered as the price pushed above Tuesday's high. A move to the 50% Fibonacci extension netted 46 cents.
CCJ LONG 22.35 22.81 $0.46
CHRW LONG 59.53 59.32 $(0.21)
DISH LONG 39.63 39.48 $(0.15)
ETP LONG 52.72 52.72 $-
TJX LONG 51.41 51.16 $(0.25)
ARHM SHORT 46.94 45.58 $1.36
CYH SHORT 43.63 42.60 $1.03
FCX SHORT 32.27 31.96 $0.31 Trail hit.
RDC SHORT 35.51 35.51 $-
Total of $2.55 per share. Multiply average share size to estimate gross earnings. 1000 shares per trade would be $2,550 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 or unedited list of setups. Complete or edited list goes out by email. Subscribe to the distribution list here.
Bullish Long-Side Setups
MJN Mead Johnson Nutrition Co
Bearish Short-Side Setups
AEP Amer Electric Pwr
BPOP Popular Inc
CCI Crown Castle Intl
CME CME Group Inc
COP ConocoPhillips
DLR Digital Realty Trust Inc
DRI Darden Restaurants
DUK Duke Energy Corporation
ED Consolidated Edison
FTI FMC Technologies
GRMN Garmin Ltd
HIW Highwoods Properties
HLX Helix Energy Solutions Group
HOG Harley-Davidson
HOLX Hologic Inc
IP Intl Paper
MAC Macerich Co
NSC Norfolk Southern
O Realty Income
PANL Univl Display
PHH PHH Corporation
PWR Quanta Services
SWY Safeway Inc
SYK Stryker Corp
TJX TJX Companies
TPX Tempur-Pedic Intl
Dave Mecklenburg is Publisher of TigerSharkTrading.com.