Friday, January 7, 2011

Overnight Hold setups

Yesterday, about twenty minutes before market closed, I decided to held a list of stocks ahead of Friday job numbers. There three main criteria that it must consist in order to qualify as an overnight hold play. First, the stock must be traded in (above average/ high volume). Second, the stock must closed near or at the HOD(high of day). Lastly, it must be a stock that recently broken out from a consolidation range. Another reason I enjoy trading these setups is because even if the market turn against you, a good setup would help you minimize your losses and allows you to exit your positions with a small scratch. Below are some stocks that I believe having a high chance of gapping up/ continuation to the upside tomorrow. 






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