Following the green…
Had a smattering of new buy signals today on stocks in my Nifty-Fifty Stock list. If the general market is firm tomorrow, likely these will perform well to the upside.
The five stocks are: WING, which has netted 17.3% on these day-trading signals year to date; TASR, netting 12.6%; BID, up 46.7%; SLCA, up 36.9%; and Z, up 27.1%.
What I’m looking for now, of course, is follow through for today’s buys on tomorrow’s open. I will use a five-minute stop (that is to say, each stock needs to be above it’s open five minutes into the day).
These are day trades intended to be closed at the end of the day and not held overnight but there is the option to hold longer if the general market shows signs of less chop and some rally (for instance, as a swing trade initiated on these signals, Z is up a splendid 60.7% year to date).
As always, this discussion is only for entertainment purposes and should not be construed as trading or investment advice.
(right click on chart for a larger view of the buy signal on this sample chart)