My daytrade picks for the week beginning Jan 12

[simpletradesnet]

My picks for Monday were all on the longside and none made entry.

Today's picks that I emailed to subscribers last nite were:
FR
Short 7.36
Buy to Cover 7.19
THOR
Short 29.27
Buy to Cover 28.82
GLW
Buy 10.06
Target 10.27

GLW gapped the opposite way and so far stayed there, FR worked as planned and THOR ran partway, breaking under its daily pivot before reversing back up.

[simpletradesnet]

I was unavailable this morning to post.
Today's Wednesday's picks that I emailed to subscribers last nite were:

YHOO Buy 12.54 Target 12.78
JRCC Short 14.80 Buy to Cover 14.60
APH Buy 22.92 Target 23.25

JRCC finally did fill, apparently just before noon making its 20 cents.
Based on last evening's activity on decent volume I thought YHOO would work if it could get to my 12.54 number just above the highs last night, but it failed twice to get past 12.53 so no damage done.

[simpletradesnet]

Thursdays picks that I emailed to subscribers last nite were:

VIP Buy 7.13 Target 7.31
AGN Short 40.86 Buy to Cover 40.30
SQM Short 24.97 Buy to Cover 24.50


VIP as of almost 10:30 made no entry, SQM was stopped out for a .25 loss but AGN did fill its targets for.56 today.

[MoreYummy]

Is the stop loss preset or depending on situation?

[simpletradesnet]

Is the stop loss preset or depending on situation?
On my site I recommend stops of 1-1.5% .
Cheap stocks like $5 or $7 should allow the higher range or else the bid/ask spread sometimes could just cut you out, but SQM 1% was enough for wiggle room.
To answer the question, it doesnt depend on the situation unless you define situation to mean relative share price at entry. Also once an entry starts working and gets close to 1% profitable regardless of the actual exit target but then retraces, I recommend exiting at or slightly beyond the original entry--no point to start hoping from a stop inserted back at that entry point for 1% or more and turn the trade into a full blown loss. If it then reverses favorably again back thru my original entry target just reenter.

[simpletradesnet]

moreyummy--not about my stuff, but I just noticed you are listed as new member but join date January 2008--have them correct that since it sounds like you really joined this month--no?

[runlikeanantelope]

VIP Buy 7.13 Target 7.31

So your only recommending buy and sell this today and today only to make .18 cents a share or more a share? When you don't hit your target, do you sell at the end of the day anyway, or ride it out for a day or two?

[simpletradesnet]

VIP Buy 7.13 Target 7.31

So your only recommending buy and sell this today and today only to make .18 cents a share or more a share? When you don't hit your target, do you sell at the end of the day anyway, or ride it out for a day or two?

My picks are strictly daytrades and really planned for the morning although sometimes but rarely like VIP or maybe on Fed days the afternoon is when it moves. My site and my email disclaimer sent each nite also says that if the trade hasnt made its entry by noon EST, be prepared to walk away. Trade something else maybe.

As to the 'only' 18 cents part not exactly--my exit is shown based on the first reasonable target I saw from the charts (candlestick not astrological)
since people following my picks range from very new to very experienced.
Experienced traders can stay in if the candles, volume, indicators or whatever they prefer suggest staying, but new traders at least have a profit exit to look for rather than stay too long only to watch profits reverse and disappear on them.

[runlikeanantelope]

Thanks for the information - I'll have to read up on your site.

[simpletradesnet]

Thanks for the information - I'll have to read up on your site.

http://simpletrades.wordpress.com/

Thanks

[simpletradesnet]

http://simpletrades.wordpress.com/

Thanks

Here are my picks for today Jan 16 that I emailed last nite.

LEAP
Buy 25.39
Target 25.71

RSX
Short 11.80
Buy to Cover 11.57

FXP
Buy 44.50
Target 45.30


LEAP worked assuming a buystop like I suggest on my blog was used with a small spread of 3 or 4 cents.
RSX also hit entry but so far isnt working.

[simpletradesnet]

LEAP worked assuming a buystop like I suggest on my blog was used with a small spread of 3 or 4 cents.
RSX also hit entry but so far isnt working.

RSX did ultimately work followed by FXP just after noon which ran to a high of 45.55 before pulling back

This morning just ahead of the open, someone asked to start a free trial.
I'm sure he's glad he did since all 3 picks worked. If you want my picks the night before instead of well into the morning session, please contact me and look at my blog anyhow regardless of your intentions for trading tips and screenshots.