3SOF

Nasdaq futures vs. Fair Value: -1.6 as of 9am ET

Pre-market most active that has 50sma above 200 sma:
xoma,stec,ont,lvlt
(time to do a quick historical searh on these symbols)

Narrowing down candidates to ones having a positive net price:

Letting market orders flush out first to see direction.

Narrowing down to candidates having 25 cents above the open to see interest.

Narrowing down candidates to see Volume backing up the interest,
(At least 100,000 to be able to get in and out)

Wide spread ( Playground for scalpers)

Thin Spread or Bid/Ask locked ( More traders would probably feel more comfortable getting in here)

Checking multiple time frames for Trend (I usually use 60,15,and 1 minute)

Narrowing down candidates who has institutional interest (Block trades).

Didn't see an opportunity in Plan A

When I went to Plan B, I saw BRLC and SIGA.

BRLC looked good at first but I would feel more comfortable trading it when it closes and trades above the Weekly chart's 8sma.

SIGA looks better, it's just I haven't seen block trades yet. (I just came home from taking my son to school and went jogging.)

Well, I guess I have to apply Plan C today.

Quote from: Eatinfolikefish on February 12, 2007, 08:33:50 AM
I'm looking forward to the day when I'm disciplined enough to open a Margin account.
I would like to go long on a fundamentally sound stock that is uptrending.
Buy insurance by hedging my position with a Protective Put.
Earn residual income by selling Covered Calls.
For now, I'm sticking with a Cash account.

While I was driving yesterday, this question came to my mind:
Besides profit taking, why would someone go against the Trend and a Big Buyer/Institution?

Making money going short seems very profitable in a fast way profiting from people's fear ( If you know what your doing.)
The downside is:
1) Getting Squeezed
2) Margin Call
3) Upside loss without a stop - better not hope.

Hi again
While reading this post about Margin Trading I wanted to throw you something to think about.
I trade on Margin Account but just about all of my buying is done with the cash I have instead of using the 50% margin cash and you have got to dicipline yourself to do this so you don't get caught in a bad trade and get a margin call.
Reason for this is you can buy and sell without the 3 day unsettled funds free trade rule. Also you can buy and sell as many times as you want as long as you don't do more than three within the same day,, more than 3 times within a week but as long as it's done on a differant day there is no limit to it.
This is working ok for me but it might not be what you're looking for.
Also you must keep at least 2000.00 dollars in you're margin account at all times ,, this is how Scottrade is done,,don't know about other brokers.
Goodluck trading

Thanks Wrangler,

I feel good reading your responses.
I'm always open to new information and suggestions.
Looking forward to more comments from you.

Ares

Good morning everyone,
I just finished going through my e-mails and got some really good information from 3SOF members.
Thanks for all your input.

Nasdaq Futures vs. Fair Value: +2.8 as of 8:32am (from the Nasdaq.com page)
I check this to see whether the bulls or bears have the advantage of program trading.

Nasdaq Futures vs. Fair Value as of 9am: +3.0

Pre-market most active (from the nasdaq site and my list of uptrending stocks under $10): lvlt,sgen,brlc,adst,ecgi

To minimize multiple threads, please go to the stock's thread for comments.
ECGI looks the most promising for now.

SGEN is looking nice too.

In at ECGI: $3.15 x 500 =  $1,575
Out:$3.89 x 500 = $1,945
P/L: +$370

Would have been nicer if that was 1,000 shares ($740 profit)

Start:: $5,095
Proift: $370
Commission: $20
End: $5,445

NASDAQ Futures vs. Fair Value as of 8:33am ET: +9.0

Happy Valentines everyone!

Lets see which stock were going to get to know today.

Premarket most active:
CORI,LVLT,BRLC,EXTR,MAMA,TISA,SUNW,MIPS,RDNT

So far I like EXTR after reading its thread.
Just have to wait and see what the market's opinion on it today.


CORI has some block trades already. (Artificial or Real Gap - we shall see)

MAMA looking good.
No trades yet, just alerts.

MAMA: alert at 5.65
EXTR: alert at 4.92 premarket high of 4.75

Valentine's Day and the New York weather must have some effect.

Keeping an eye on ACLS (will it break 7.92 with blocks?)

keeping an eye on SGEN (will it break 52 week high of 9.52)

MIPS looking good.

Today, I had to apply Plan C.

So far, ECGI has accomplished my wishful thinking.
1) Momentum traders taking the stock to the next level
2) Scalpers enjoying the spread and consolidation period
3) Long term investors benefiting from the rally.

After reading "G Pattern to STEPS", this came to mind:

1) Get in using "Daytrading with Consensus" - contribute to the volume and price spike
2) Use " G Pattern to STEPS" - buy on pullback.
3) Get in again using "Daytrading with Consensus" - hopefully, another positive volume and price spike will be created.

Just finished reading one of ECGI's thread.
I thought to myself:
If Setravis sat on this when it was first posted, He must be laughing by now (laughter of joy due to potential profit taking)

So far, I really like ARMHY (see comments on the thread)

Nasdaq futures vs. Fair Value as of 9AM ET: +0.5

Premarket most active: armhy,avci,sunw,nxg,lvlt,cori,mrvc,chrd

In CHRD at $3.70 x 500 = $1,850
Out CHRD at $3.75 x 500 = $1,875
P/L = $25
Start:$5,445
Profit:$25
Commission: $20
End: $5450

In AVCI at: $8.80 x 500 = $4,400
Out AVCI at: $8.64 x 500 = $4320
P/L:$ -80
Start:$5,450
Loss: $80
Commission: $20
End: $5,350

Broke so many rules today.

Rushed in without seeing a block trade.
Didn't get out earlier at a + when I realized I rushed in
Didn't date 1 stock at a time. (Hard to follow Market Maker actions)
Instead, I  rushed in again and went in another stock (going over the $5,000 initial Capital)
Still contemplating if I'm going to exit at a loss now or wait until the end of day (counting on the Larger trend to get me out on a + by selling into demand)

Any comments about now would be nice.

Closed my positions
I may have just been shaken out.
Who knows, the stocks may go up.
I just want to cut my loss, re-evaluate my mistakes,preserve capital and trade another day.

I'm not going to add AVCI, and CHRD  to "100 shares long term" forum because I did not see Green Blocks.

Just finished reading ONNN's thread.
Setravis is right, It should have caught my attentions sooner.
I have to learn how to catch these good stocks sooner for long term plays.
Terliso's 3 Magic Lines looks to be working really well.
I wonder what Setravis'  main indicator of catching the start of the move.
So far it looked like volume accumulation.
With Adam, he mentioned about blocks challenging resistance.
Both Setravis and Adam were looking for a breakout of the $5 range.
I noticed that MACD was still below Zero, price was above the 200ma, and was around the 50 ma when it was first mentioned in ONNN's thread.

Looking back at the mistakes I made yesterday.
What made me buy AVCI?
After realizing that I rushed in at CHRD, I saw that AVCI was rising faster and didn't want to get left out.
After I got in at AVCI, I read it's thread.
I found out that long term resistance was 9.07
I knew that the previous hour's high was at 9.02(short term resistance)
Another mistake, I did not wait for the planets(multiple time frames) to line up.
I saw the resistance being challenged (but not by blocks - the fuel I needed to see to break it)
When I saw that no blocks were coming in, I should have sold at the current demand.
Instead of exiting at a profit, I ended up taking a loss of 16 cents
I got upset with the trade and hoped that the stock would tank so that I could get in for a bounce (Another strategy, but doesn't fit Daytrading with Consensus)
It really is true, Emotions is the hardest to master in trading - for me anyway.
I knew what I was supposed to do with that trade- I just didn't do it.
I let my emotions blur my focus.
My focus got blurred when I realized I rushed in at CHRD and made it worse by dividing my focus with AVCI.
Well, time to face another day.

After reading some of your posts, I sense that maybe you need to follow the 3stocks on fire thread to learn more about which stocks to trade.  The method you are using now will only lead to pain later on.  I have been trading for several years now and believe me I tried your method, it may work short term, but in the end you still lose.  David is right about the emotional ups and downs, you cannot get upset or happy when trading, it will destroy you in the long run.  You need to learn how to trade strong fundamental picks and treat it as business as usual.