10/20/2006 Fri
Two Opening Plays: GOOG And BIDU
30 - Minute Gap Play: Tons Of Good Patterns
High - Low Bands: No New Positions
Gapper's Eye utilizes the original macro program designed by
DayTradenet.com
for the CQG chart system.
This program shows
the support and resistance lines as well as the Quatro Setup Zone.
The Break Scan System is provided as one of the
DayTradenet members
services.
The Kamikaze Gap Play
was introduced to the U.S. traders in the
August 2005 issue of Active Trader Magazine.
Pick stocks appear on both the Swing Scan and Break Scan Pro. It's an easy
way to capture excellent trading opportunities.
Double Scan Quick
Play
30-Minute Gap Play
This intraday trading strategy can be used regardless of the
trend.
This is the only list you need to find stocks for 30 - minute gap plays. Be
careful with exceptionally narrow gaps !
Excerpts from Net Aid (Chatroom)
SHLD looks good. Let's see if it can take out the high.
Short ＳＨＬＤ.
This is a good place to short AKAM here.
ＥＳＲＸ looks good.
I think UAUA is a buy. Let me check it.
This stock is in 30's, easy to trade.
This is it ! Long UAUA.
ＩＬＭＮ・・・
This is also a long candidate.
Long WFMI.
If you long this one, be sure to check average daily range. Otherwise you might
have to stay up all night till you can book profits.
Look at AMGN. It makes me laugh.
1- minute chart !
It's almost time. Good night everyone !
One more minute left.
Have a nice weekend !
Good night.
This concludes Net Aid.
30-Minute Magic Cross Gap Play
This is a daytrading strategy utilizing the Swing
Scan. Our goal is to take one bar worth of profit
on the 30-minute chart. Just by using the Swing Scan, you can play
both swing and intraday trading.
The Breakscan Pro comes with the 30-minute Magic Cross.
Gaps are too big. No trade.
High - Low Bands Gap Play Watch
This strategy can be applied effectively by using the
Swing Scan. As the name implies, this system scan stocks for
swing trading. Of course, these stocks are suitable for intraday
trading, too. Don't just concentrate on stocks. Be sure to follow
the index.
The Nasdaq opened with a narrow gap. This is not good time to open new long
positions yet.
Swing Scan Watch
Each figure shows the size of
the gap, the order of moving averages, the new high or new low in the past five
days. The trigger indicates the buying and selling pressure. We do not hold
overnight positions more than five days. A long position will be closed when
the stock gaps down. (Sometimes, the position is liquidated on the second gap-down.)
The opposite rules applies for closing short positions.
The Nasdaq gapped up on the open. Wait for more up bars till you open swing
positions.
This is what I said in Net Aid
This is basically how I do it.
Watch the Nasdaq index closely.
Look at the futures. It gapped down. But, the gap is
not that big. It means the market will open nearly flat. That means you cannot
think about overnight short positions. Of course, if you can find excellent patterns,
you can short.
How about long trades? I don't know if it's going to be a down day or up day.
But, I don't think you can aggressively open new long positions either. That
means we will focus on intraday trading only.
GOOG is a buy, but speculative. Maybe you can try 100 shares.
BIDU is another long candidate if it gaps up. Look, it has a wide range up bar
yesterday.
AKAM is no good. Try to find a stock with small down side risk.
NDAQ is too risky for beginners. It moves very quickly. That is why I have 100 and
200 shares order buttons.
Why GOOG and BIDU? Because the market minder shows them as gap up stocks. Also
pay attention to Breakscan with Q and M buttons on.
If GOOG and BIDU reverse, focus on Breakscan.
This gap is too big.
Overnight Positions
None
Gapper's Eye Index
Daytradenet Top
Red
and blue zones show the gap of the preceding day.
The Green zone indicates the profitable zone of
trading.