Trade Setups for Wednesday 1/6/10
Posted by lasertrader on January 6, 2010
On Tuesday morning the CAAS and RAX stups for the day opened with a large gap up. In order not to get caught in a whipsaw I usually wait past the first 5 minutes before acting on a trade alert trigger. CAAS gapped and ran without me and I chose not to chase it. RAX gapped and crapped immediately and did not hit the trigger again all day. RAX remains on the setup list for today. I did enter JOYG at the trigger price. As often occurs with short setups, HIG and GT broke strongly to the upside and no longer are short setups so they will be removed from the trade setups.
Portfolio position WBD continues to move up nicely, however, AHD just seems to be flat. I will watch AHD today and maybe take the position off it it doesnt show any life. I would prefer to hold things that are moving.
Two long setups have been added today (CTRP and CYD) and no short setups.
CTRP Long 76.60
CYD Long 17.14