For some strange reason or the other since last night; I had it in my head that I wanted to short FOSL today after it had gapped down on earnings news after hours. 

As soon I launched my trading platform; the first ticker I pulled up was...you guessed it FOSL and I tried to get short almost right away! However, my order was rejected as it was 7:47am and my broker (SureTrader) does not allow pre-market trading until 8:00am. 

So I waited and waited what felt like an eternity for 8:00am and jumped in short almost right away. What a dumb dumb decision. Two consecutive green days this week and my decision making process goes out the window. 

I mean after all it was a retail stock right and almost every retail stock is getting hammered after earnings; plus its trending down beneath all of its moving averages on the 5-minute chart and trending down on the daily...so great trade right....WRONG!!!

Although technically the chart set-up was there; this trade was poor for three reasons: a) the stock was trading with a fairly wide spread; b) the market depth was not there as yet although it had already trade over 100,000 shares...so any idiot hitting the offers with even a modest sized order could have (and actually did) cause the stock to spike and c) considering that I give my self $50 daily max loss (before my broker freezes me out from taking any further trades) at my current account size (roughly $1,500) + the next level of resistance (aka my stop out level) being 25 cents away but more realistically 30 or even 40 cents when the factors mentioned above are taken into consideration... the 300 shares i took was way too much size. I should really have gone into this trade (if I still felt I really really needed to take it) with max 100 shares.

That way I could have "escaped" with max $50 loss after commissions instead of the $106 net loss I ended taking. None the less, lesson learned...AGAIN!!! 

So as for tomorrow; back to my go-to setup...the 5-minute pullback/flag around 10:00-10:30ish. I would have felt much better if I have been stopped longing the 5-min flag in HTZ around 10:30ish or even shorting AAOI on the breakdown from its 5-min flag around 10:15ish. Both of which I had to sit and watch knowing fully well if I had saved my "bullet" i would have been all over either one...especially HTZ given the sister stock confirmation as well the fact that all the indexes were up trending at the time as I'd suspected they would following this morning's big gap down.

With that "rant" out of the way...here are my best ideas for tomorrow:

HTZ: After the massive breakout today this stock could good either up or down..its 50/50 really. So I'll be open to playing it in either direction. However, if this stock breaks $18 tomorrow I'll definitely be jumping in!

OMER: I'll be looking for 2nd day continuation higher following the earnings breakout today as there's no real significant resistance until $27. Further this stock has already shown that its capable of running for multiple days in a row. Will only touch if it offers a solid 5-minute set up though. 

RDFN: First green day today after pulling back over the past few sessions. I'll be looking to play this to the long side above today's high if it gives a solid set-up on the 5-minute chart.

CARA: Bounced nicely off its 200-day SMA today after coming in some off it recent earnings breakout. I'll be eyeing it for a 5-minute long set-up  above today's high as I believe this stock has potential to re-visit $16 and even $16.50.

AAOI: Back on watch for tomorrow after solid red day today. This stock doesn't have any support until $63 and could even re-visit the major $60 support level this week. So If I do end up playing this tomorrow; there's a strong chance I'll leave a few on as a swing for the re-test of $60.

In addition these watchers; I will add any gappers I find interesting to my list in the morning. So be sure to follow me on twitter (@elingford) if you'd be interested in finding out what there are!