Classic Day Trading Opportunities

As the stock market rallied on the back of Fed Chairman Bernanke's optimistic comments, today's trading provided a number of excellent day trading opportunities utilizing an Opening Range Breakout Strategy. Check out the chart of Morgan Stanley (MS), below.

At about 10:30 this morning, MS broke out from its early trading range just below $20. The stock trended higher all session and closed just over $22. This provided a huge 10% move on the day, after the breakout. These opportunities to the upside have been rare as of late, but you likely could have found some good opportuntities to the short side. MS meets most of our qualifications for daytrading opportunities, so check it out!

Scott Cole