Stock Daytrading opportunities for Friday

The stock market gave up about half of its earlier gains today, and many high flying stocks also pulled back from the high levels of the day. It has been a good week for daytrading using our system, as many stocks have seen nice 1 to 3 day gains this week. With that in mind, most of the opportunities presenting themselves for Friday appear to be on the short side.

Our list of potential day trades for Friday all have the potential for decent short sales...watch MOS, TRA, DE, NVR, BIDU and LEH.

Our e-book "How to Pick the Best Stocks to Daytrade" is now available! Check it out on our website!

Good Trading!

Scott Cole
www.bestdaytradingstocks.com

Modest rally in stocks, lots of potential daytrades for Tuesday

Greetings! This is my first post in a few days, but I am back in gear!

The stock market posted a decent rally on Monday, with most strength in the techs as the Nasdaq lead the way. The market rose in spite of weak housing numbers reported at 10 am, which caused the market to turn negative for a while. However, Crude Oil was weak all day, crashing through $130 per barrel to the downside. This gave stocks enough reason for an oversold rally.

With that in mind, some stocks look ready to pop again. Potential day and swing trades for Tuesday include WLT, MEE, CNX, GGB and WLL. I did not see many decent candidates for shorting due to the weakness all last week.

Good Trading!

Scott Cole
www.bestdaytradingstocks.com
www.kungfutrader.com

Wednesday's Daytrading Stock Picks

The Dow Jones was down nearly 200 points today, but the decline was not as bad as it looked. Many of the leading stocks closed near their highs today, rather than near their lows. The market has been due for a bit of a pullback due to current complacency. Today, bad inflation data reported in the PPI index, along with continued higher oil prices resulted in a down open, but, once the oil futures market closed at 2:30, the stock market stabilized.

Tuesday offered no decent potential daytrades. However, Wednesday is a different story. The list includes FSLR, WLT, RIMM, LEAP and FWLT.

Any comments or questions are appreciated!

Scott Cole
www.bestdaytradingstocks.com
www.kungfutrader.com

Rough day for our daytrade picks

Today is a good example of a session that is tough on our daytrading methodology. The market had been strong throughout the day, only to tail off late in the day, erasing most of a triple digit gain in the Dow, and the NASDAQ turned negative by the end of the day. As a result, a lot of stocks started up, then fell back on the day. Many of the recent high flyers also pulled back. Volume has been shrinking as of late, and volatility is quite low. These are a couple signs that the market may be due for a pullback.

Yesterday's best pick, BG, had a little follow through early in the session, only to join the rest of the crowd and close lower on the day.

Two of our Monday picks did not offer trades, while the other ended in a small loss on the day.

Tuesday does not offer any reasonable candidates according to our system. Could be a day to keep an eye on a few of the ProShares Ultra Short ETF's for candidates to the long side. QID and TWM are the two I follow most often when considering on a bet against the market.

Good Trading!

Scott Cole
www.kungfutrader.com
www.bestdaytradingstocks.com

Flat Day for Stocks, Daytrading stocks mixed

The stock market ended the week on a flat note Friday, with moderate losses across the major averages. Overall, it was a solid week for stocks, and the market leaders continue to head higher.

Our daytrading pics on Friday had a mixed day, but BG proved to be a big winner. The other picks were MA, RIMM, NUE and GOOG.

For Monday, the following three stocks look like good daytrading possibilities...MICC, BZP and FSLR. As always, our bias is to the long side. Pay attention to the overall market conditions early in the session before considering any long entries.

Good Trading!

Scott Cole
www.bestdaytradingstocks.com
www.kungfutrader.com

Quiet day for Daytrading Stock Picks

Our daytrading picks did not offer trades today, as all three traded lower from the open. As our directional bias in all three was to the upside (all of our picks are long trades), no trades would have been taken.

On Friday, our picks include AXYS, MA, BG, RIMM, NUE, and GOOG.

As it is a Friday, only consider holding a position over the weekend if Friday is a solid up day at the close in the overall market.

Scott Cole
www.bestdaytradingstocks.com
www.kungfutrader.com

Rough Day for Daytrading Stocks

The stock market rallied early, but tailed off in the last hour, making it a difficult day for daytraders seeking to hold gains through the close. It was a good day to exit positions that may have been held since Monday. DRYS was a perfect example of a 3 day cycle that is common to many markets. It had a decent rally on Monday, followed by a sizable move on Tuesday and a strong open today. However, it reversed course and closed near its lows for the day. A good day trader and short term swing trader would have many opportunities to exit the position throughout the day....at the open, after its early rally, or even at the close. CMI, another one of our Monday picks, continued upward today, but should have been exited at the close.

Our daytrading picks for today would have resulted in one trade. POT had a nice rally that faded at the end of the day, which had resulted in a small loss. MA and BRY did not offer trades to the long side, which was their directional bias for the day.

Thursday's picks are AXYS and USO.

Scott Cole
www.bestdaytradingstocks.com
www.kungfutrader.com

Stock Market Ends Mixed on Tuesday

The stock market ended mixed on Tuesday as the Dow and S&P finished modestly lower, while the NASDAQ and Russell 2000 finished modestly higher. High flying stocks continued their high flying ways, led today by the solar energy group. CSIQ reported strong earnings and finished up nearly 20%.

Monday's daytrading picks either followed through with an up open (DRYS and EWZ) or continued to trend higher today (CMI and CSX). Tuesday's daytrading picks were mixed. MA did not trigger a trade and closed modestly lower. AKS sold off a bit after the open, then trended higher the rest of the day into the close.

Wednesday's picks include MA again, BRY and POT.

Scott Cole
www.bestdaytradingstocks.com
www.kungfutrader.com

Stock Market Rallies Monday, Our Day Trades Perform Well

Our list of daytrades posted in last nights blog...DRYS, CMI, EWZ and CSX all offered excellent profit opportunities on the back of a nice rally in the market on Monday. DRYS rallied from the open, and trended higher all day. The other three stocks had brief sell-offs early in the morning, but rebounded with the market and trended upward for the rest of the day.

The stock market benefited from lower crude oil prices and a firming dollar. However, the trend in crude oil continues to point upward. Still, the stock market looks to be in pretty good shape, and techs are beginning to show some leadership. These stocks will need to take over leadership if the issues related to the continued rise in energy prices and agricultural issues falter.

Some nice daytrading opportunities for Tuesday appear to be MA and AKS.

Scott Cole
www.kungfutrader.com
www.bestdaytradingstocks.com

Monday's Daytrading Candidates

The ideal candidates for daytrading on Monday include...DRYS, CMI, CSX, and an ETF, EWZ. These four candidates offer a directional bias that we look for, among other conditions.

Pay attention to the overall direction of the stock market, as a strong move in any direction by the major indexes WILL have an impact on individual stocks. In regard to the individual stocks, let them establish direction for the day.

Scott Cole

Finding the Best Daytrading Stocks

In order to find the best stocks for daytrading, I highly recommend a program such as Worden Brothers' TC2000 platform. This program will allow you to set up numerous filters based upon technical studies, volume, capitalization, etc. so that you may screen for the best stocks to day trade, or just trade or invest in.

I am sure there are other programs out there, but I have found the TC2000 platform very easy to use, and I can set up all kinds of searches for stocks, depending upon what I am looking for. Check it out!