Since the market opens at 2330 out here in S. Korea I have to change my trading to pretty much EoD (Daily chart) using stops. Sometimes (if I'm awake) I catch the first hour and last hour of the market before work. Since I'm military I don't have the option to trade from work and cannot have my cell on me in the workcenter.
Anyhow, since @timothysykes says we should document everything here's the setups my scanners and some chart analysis brought to my attention heading into the upcoming short week. Since I'm really just position trading I like to try and get into a stock near its support levels. Also, you may want to set your stops slightly lower than the current support identified below so as not to get stopped out prematurely.
Under $5:
MNGA: Buy at .51 and set stop at 0.44
BLPH: Buy at 0.64 and set stop at 0.52
AAU: Buy at 1.05 and set stop at 0.93
CPRX: Buy at 1.21 and set stop at 1.09
MEIP: Buy at 1.50 and set stop at 1.38
SCYX: Buy at 3.58 and set stop at 3.21
IMMU: Buy at 4.00 and set stop at 3.52
Over $5:
FOLD: Buy at 5.78 and set stop at 5.22
KTOS: Buy at 7.60 and set stop at 7.19
NMBL: Buy at 8.39 and set stop at 7.85
CGI: Buy at 9.20 and set stop at 7.93
DDC: Buy at 9.92 and set stop at 9.76
Note: I've been paper trading for months on IB and really just started trading with a small $1500 Etrade account to learn all the setups. This weekend I picked up a copy of How to Make Millions since I'll be pulling the trigger on a much larger IB account after I sell my home in Hawaii.
Currently holding 1,010 shares of NEON; in at 1.60. I thought I would get a much stronger bounce on 10 Jan and probably should have sold at MoO on 11 Jan. We'll see what happens on 17 Jan which incidentally is my Birthday!
Happy Trading!
Stephen













what happens when you set stop? I would have to choose the stop limit option then?
you expect all those to drop?
I don't like setting stops but since I can't watch the stocks I need to. These stocks have already broken through key resistance levels and have a well established support level. I would just set your initial stops a few cents lower then the support level stop positions I typed.. after the stock starts moving you'll have to adjust your stops if/when the price starts moving up or set a specified target price.
Also, just to footstomp...although I do a lot of DD by analyzing charts, using scanners/filters, reading filings, etc I'm still just a newbie trader. If I could sit behind a computer all day I would be following Tims proven methods which are more lucrative then my long plays.
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