Tuesday's stock market price action provided great opportunities for daytraders to capitalize on significant price moves. Daytraders who look to capture big directional moves could see this type of day coming just by looking at the daily charts of the stock indexes and some of the most widely traded big cap stocks. The stock market was set up nicely for a rally once a catalyst was provided. That catalyst proved to be the monthly consumer confidence report. Whether you believe consumers are ready to start spending does not matter. That report provided a boost to the stock market, which was already exhibiting some nice strength early in the session. The end result was numerous individual stocks making 10% moves to the upside, and some big cap stocks making 5% moves or more.
I hope you were one of those traders that made some big money on Tuesday!
Scott Cole
www.bestdaytradingstocks.com
Wednesday, May 27, 2009
Subscribe to:
Posts (Atom)