This is a quick post on making watchlists. This is one of the most important parts of trading. Each day, before you get ready to trade, you need to have 10-15 setups that are ready to roll. If you wake up and think you’re just going to hop in the chat room and make thousands of dollars, you will never succeed. Just like any sport or profession, you have to put in hours and hours of practice and preparation before the big game! So, I make two watchlists on Sunday. One list comprises potential plays for the week, and then a second watchlist of stocks that will be ready the next day. Each day, I prune through the weekly watchlist and take out the stocks that broke out or have moved in such a way that the setup is no longer valid. I transfer the ones that look ready to my daily watchlist, along with the stocks I found that night on my scans, and then I set my alerts. Bam! Now you have a game plan.
Day: December 20, 2011
Boom Boom Stocks 12/20/2011
Good morning folks. Another day and another gap up the SPY is trading up over 1% premarket so far. Gold, Silver, Oil all have early morning strength. This gap up means nothing as we have been gapping up everdyay for the past week only to fade late morning. For the pattern to change we will …