The goal of summer time trading is hit and run! Hit the winners, lock it up, and look for another one. This isn’t a market to get married to any stock. It’s just too choppy. So that’s the name of the game right now. This morning we hit $TBIO off the watch list long at 2.25. Beginning at 9am we had $TBIO on watch for a potential trade out of the gates. As day traders we are hunting for volume and momentum. We look at stocks gapping up in the pre-market session as early indicators of where we might see momentum once the bell rings at 9:30. In this case we were already prepped and ready to go on TBIO and when the stock popped up on our momentum scanner we jumped right in. Riding the momentum up to a high of 2.36. This wasn’t the biggest winner but it was a nice example of watch list stocks paying off. $500/day is a great daily target for our students and being able to hit that goal in the first 30min means you can go outside and enjoy the rest of the day!
Good job to our students who took the trade on $TBIO, but remember you have to be quick! The traders doing the best right now are ones with the experience to trade quickly.
From the Watch List
$TBIO on watch for a possible trade over the pre-market highs (needs a bit more volume)
News: Transgenomic Announces Plans to Launch Liquid Biopsy Cancer Test Pipeline During 2015 – http://finance.yahoo.com/news/transgenomic-announces-plans-launch-liquid-110000798.html
I found $TBIO on our Gap Scanner and had it on the watch list, and then it popped up on the Momentum Scanner in the first few minutes of the market open.