Quote to think about

"You cannot help the poor by destroying the rich. You cannot strengthen the weak by weakening the strong.

You cannot bring about prosperity by discouraging thrift. You cannot lift the wage earner by pulling down the wage payer. You cannot further the brotherhood of man by inciting class hatred.

You cannot build character and courage by taking away people's initiative and independence. You cannot help people permanently by doing for them, what they could and should do for themselves." --Abraham Lincoln

Gap and Go 15 minute - EV

5 minute chart

15 minute chart

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Stock: EV

Entry Bar: 2
Entry Green Line: 27.37
Stop Red Line: 26.89 or 27.09
Result:
Setup Grade: B+
Notes: AAPL had a nice gap and go as well,

* The setup grade is based on rules outlined in my business plan & not for the end result. Feel free to post any trades you made today that you would like commented on.

2 minute 8SMA - PG

2 minute chart

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Stock: PG

Entry Bar: 14
Entry Green Line: 56.01
Stop Red Line: 56.96
Result: .18 to .37
Setup Grade: B+
Notes:I only take these in the first 30 minutes of the day, I look for small narrow range bars near specific points. I get and out quickly. I also have been using 1 minute charts as well.

* The setup grade is based on rules outlined in my business plan & not for the end result. Feel free to post any trades you made today that you would like commented on.

30 Minute Outside range Breakout - AET

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Stock: AET

Entry Bar: 13
Entry Green Line: 27.50
Stop Red Line: 27.20
Result: .65 to sell at end of day
Setup Grade: A-
Notes: Nice break on the daily and hammer.

* The setup grade is based on rules outlined in my business plan & not for the end result. Feel free to post any trades you made today that you would like commented on.

Gap and Go Post from a reader - MYL short

Here is a Gap-n-Go for today's weak opening: This was sent to me by a reader. As you can see from my previous post my charts where all @#$% up today. Nice trade.

Stock: MYL, 10-min, Gap and Go (bearish)

Entry Bar: 2

Entry Green Line: 12.85

Stop Red Line: 13.15

Result: 0.30-0.89

Setup Grade: B+

Notes: Sold 1/2 @ 1R (12.55), sold the next 1/4 @2R (12.25), sold the next 1/8@ 3R (11.94) and tried the let the rest run, but stopped out @ 12.07 (green WRB)

No Charts today

All kids of problems with my charts today - street smart pro, at 9:45 east coast time was getting nothing from my charts. Only made a small trade in CHL for a scratch trade using the 2 minute charts before this. Very frustrating when your real time charting goes down.

Gap and Go - BIDU

5 minute chart

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Stock:BIDU

Entry Bar: 2
Entry Green Line: 344.95
Stop Red Line: 338.07
Result: 12 to 18 points
Setup Grade: A-
Notes: nice setup, I like these larger price stocks taking less shares.

* The setup grade is based on rules outlined in my business plan & not for the end result. Feel free to post any trades you made today that you would like commented on.

30 Minute Candlestick Breakout - HSY

30 minute chart

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Stock:HSY

Entry Bar: 5
Entry Green Line: 40.93
Stop Red Line: 40.72
Result: 1.16 to 1.25
Setup Grade: B
Notes: A reader sent me this trade. She followed her stop up the bottom of the last candle!

* The setup grade is based on rules outlined in my business plan & not for the end result. Feel free to post any trades you made today that you would like commented on.

Interesting Email on Socialism

I received this email, very interesting. You decide. Don't shoot the messenger. Here it is word for word.

An economics professor at a local college made a statement that he had never failed a single student before, but had once failed an entire class.

That class had insisted that Obama's socialism worked and that no one would be poor and no one would be rich, a great equalizer.

The professor then said, "OK, we will have an experiment in this class on Obama's plan".

All grades would be averaged and everyone would receive the same grade so no one would fail and no one would receive an A.

After the first test, the grades were averaged and everyone got a B. The students who studied hard were upset and the students who studied little were happy.

As the second test rolled around, the students who studied little had studied even less and the ones who studied hard decided they wanted a free ride too so they studied little. The second test average was a D! No one was happy.

When the 3rd test rolled around, the average was an F.

The scores never increased as bickering, blame and name-calling all resulted in hard feelings and no one would study for the benefit of anyone else.

All failed, to their great surprise, and the professor told them that socialism would also ultimately fail because when the reward is great, the effort to succeed is great but when government takes all the reward away, no one will try or want to succeed.

Could not be any simpler than that.

As the late Adrian Rogers said, "you cannot multiply wealth by dividing it.."

The Painting

Going to NY with my son, no post on Wednesday.

Click on the link - The painting itself is great but as you run your curser over the people it tells you who they are ... BUT .... (click on a person) and you obtain their life history. This is so fascinating!........................

CLICK HERE

Gap Fade Short - X - nice daily chart setup

5 minute

Daily extended

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Stock:X

Entry Bar: 2
Entry Green Line:40.07 short
Stop Red Line: 41.61
Result: .57 got out didnt have time to manage past gap fill,
Setup Grade: A-
Notes: overextend on the daily, nice first bar, out at gap fill...Doesnt get any better then this with the Daily chart.

* The setup grade is based on rules outlined in my business plan & not for the end result. Feel free to post any trades you made today that you would like commented on.

Gap and Go - LFC

5 minute chart

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Stock:LFC

Entry Bar: 2
Entry Green Line: 63.63
Stop Red Line: 63.11
Result: .40 to .74
Setup Grade: B
Notes:

* The setup grade is based on rules outlined in my business plan & not for the end result. Feel free to post any trades you made today that you would like commented on.

30 Minute Outside range Breakout - BAX

5 minute chart

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Stock:BAX

Entry Bar:6
Entry Green Line: 54.45
Stop Red Line: 54
Result: .45 to .90
Setup Grade: B+
Notes: scale out, stop to entry let some run all day

* The setup grade is based on rules outlined in my business plan & not for the end result. Feel free to post any trades you made today that you would like commented on.

30 Minute Candlestick Breakout - AXP

30 minute chart

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Stock: AXP 30 minute bar

Entry Bar: 8
Entry Green Line: 26.00
Stop Red Line: 25.80
Result: .60 to 1.75
Setup Grade: B+
Notes: Several entries for AXP today..5 minute bars

* The setup grade is based on rules outlined in my business plan & not for the end result. Feel free to post any trades you made today that you would like commented on.

Winner and Loser: SYNA and AKS

Top Picture AKS - Gap and Go Loser, came down took out my stop then took off, it happens.

Bottom Picture SYNA- Gap and go short winner 10 minute play.

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15 Minute Candlestick breakout - KFT

Daily Chart

Set Up

Full day result - also presents 123 pullback to Outside range high

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Stock:KFT

Entry Bar: 9
Entry Green Line:26.81
Stop Red Line: 26.70
Result: even to .16 (1.6r)
Setup Grade: B+
Notes: Breaking out on the daily from its wedge. Scale as you go and get the stop to entry. I scaled out, moved my stop to entry and was stopped on my remaining shares. I reentered after 123 pullback hammer that formed at the 15 minute outside range. .07 risk.....scaled out at plus .10 and stop to even.

* The setup grade is based on rules outlined in my business plan & not for the end result. Feel free to post any trades you made today that you would like commented on.

2 minute 8SMA - DOV

2 minute setup

result and out

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Stock:DOV 2 minute chart

Entry Bar:9
Entry Green Line: 31.53
Stop Red Line: 31.43
Result: .31 and out
Setup Grade: B
Notes: I only take these in the first 30 minutes of the day, I look for small narrow range bars. I get and out quickly. This one is from Friday. If I didn't hit my goal I would have got out on the bottom of the last down red bar.

* The setup grade is based on rules outlined in my business plan & not for the end result. Feel free to post any trades you made today that you would like commented on.

Vacation - Will post a chart this weekend

Will post a chart this weekend - vacation, not much trading for the next week.

Gap Fill and Go - AET

5 minute chart - This was sent to me by a reader, nice trade

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Stock:AET 5 minute chart

Entry Bar: 2
Entry Green Line: 25.27
Stop Red Line: 24 conservative or under 20 SMA 24.49
Result: .33-.98
Setup Grade: B
Notes: Trade from a reader made yesterday, he scaled out as it went up, 40%(25.6), 30%(25.97), 30%(26.25).

* The setup grade is based on rules outlined in my business plan & not for the end result. Feel free to post any trades you made today that you would like commented on.

Screen shot of my stock watch list

I get this question a lot, how do I track my watch list of stocks on the day. Here is a screen shot of how I track my candidate's for the first 30 minutes of the day when trading the 2 minute charts. I get this list from my pre market scans.

I use tradestation to track my candidates but use Street Smart Pro Schwab to make my equity trades.