Stock pick for 11/09/2011
Dear traders,
First my apologies for late email from me. Honestly I was like to see premarket open and at this moment its look like we will see big gap down. We could see bull trap action so I will write few words about that. It is situation when chart is open under previous day low and when previous day closed near highs and kind of situation we could see today. We call it trap because many swing traders will use stop under previous day low and if they will see open in stop area some panic could come out what will turn chart down. That will be something what I will look today. I posted few ideas but generally when we have trap situation we have few possibilities. First and of course aggressive possibility is short under 5 min low with stop above high at setup time. Less aggressive is under 30 min low with stop above high at setup time. Most aggressive is short under 90 second low with stop above 5 min high. If that will work and if we will see good selling pace in the morning then I will look for swing move down. I want to note “if” because last days we had many false moves so please still stay with smaller risk. If all this will work then we can always add position for swing trade. Very possible there won’t be time to send many setups under 5 min low and I will look for those possibilities and you can look to buy SDS or any other index on that way. I hope all this have sense and if not please let me know
All best today
Ivica
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