US day traders thread.

[Naz]

Here's a thread that offers an insight into US stocks that are currently interesting.Stocks that can move either way for one reason or another.Any info in fact that the US day trader could be interested in.

Some of the stocks picked for intra day trading go on to fly and become fantastic opportunities for the end of day trader as well.Here's two that seem to be coming up day afer day.Both were up 100% last month.ANTP and BOOM.

Today Non farm Payrolls is out at 0830est

Earnings guidance kicks in for many companies starting April 11th.Google's is after the close on Apr 21st.These figures always offer some great oppertunities.
For those that dont know.US day traders can trade before and after market hours to take advantage of these potential moves as soon as the figures are released.

Naz

[Naz]

The Overall market gapped up.

Best moves of note were the breakout of GOOG (charts 3,4) and the collapse of RIMM(charts1,2)

[millsy500]

Hi Naz

im pretty new to us stocks and trading. Who do you use for news feeds? I'm using yahoo. Also do you buy weekly stock reports for example, on yahoo,analysts there charge around $10 us for a report on say msft.

Thanks Millsy

[Naz]

Hi Millsy,

Yahoo is good for news.Personally i dont pay anyone for any stock reports.The reason is i dont want someone else's opinion sticking in the back of my mind and clouding my thoughts.I trade what i see not what others think although ts a great to chat and read things outside market hours for leisure purposes.

I tend to use a complete range of chart set ups and strategies to deal with most situations that i 've built up over the last six years of day trading the US markets for a living.

Take yesterday.I didn't know if the market would run or sell off.If i was an index player i would have to make a decision probably based on lots of analysis and miss out on some of the move until it was starting to be confirmed.At the very worst be the wrong way and suffer some kind of loss.

A very,very simple basic stock strategy is to pick two stocks a long and a short.Ride the one that works well and kill off the one that fades.If the market goes either way one of them will benefit. Yesterday it was RIMM which fell about $2.30 before the bounce.Which i show in the attached chart.

Naz

[Salty Gibbon]

I think your charts and moves are great Naz but I think that you should add a word of caution to newbies that it may not be a good idea to initially trade stocks like RIMM, GOOG, BOOM, TZOO etc.

These type of stocks are very fast ( and far reaching ) movers and while it is possible to make very fast and large profits from their moves, a relative newbie might find himself ( or herself - protection from the feminists ) in deep trouble if he ( or she ) were to find himself on the wrong side of a trade in any one of these stocks.

But otherwise, please keep posting. This could be a great replacement to " Trading the US the Naz and Mr Charts way" which has sadly fallen into decline following the sad departure of Richard.

[roguetrader]

I very much agree with Salty here, this looks like the start of a great thread Naz, but would caution new and or inexperienced traders in these stocks to tread very carefully. Make sure you have all your i's dotted and your t's crossed in the risk management department Handling these is a bit like gettig off your local pony club horse and climbing onto a thoroughbred racehorse.

[Naz]

I take your point guys and this thread is supposed to be a much more gentle thread on US day trading than the other that you mentioned.

Many traders get whipped around something chronic on many other markets trying to guess the wiggles and giggles during the day.Whereas picking the right stocks that move and scaling back to really small size can help a traders progression a lot faster.An $80 stock trading with 1/4 your normal size is emotionally like trading a $20 stock.

However i believe the larger moves will educate you to look for bigger runs rather than paying lots of commissions and taking 20c and 30c here and there.Although we all have to do that at times.

Very often stocks that become day traders favourites because of their movement become interesting for EOD traders, thats one of the reasons for mentioning ANTP and BOOM.

Hopefully this thread will give everyone a chance to mention their own favourites.

[Salty Gibbon]

I tend to trade these fast stocks a little later in the day when they have slowed down somewhat but are still giving pretty damn good moves.

I do trade RIMM quite often but usually later on in the afternoon and evening - I find it safer that way.

That is my way of tackling them.