Yawn… wake me up after Labor Day! This morning scalp on KBH could have paid off well with a 17 cent gain.. only problem was the 11 cents of slippage on my entry! So, I made 6 cents instead. Not a bad start, but I would have preferred to make at least one more trade to increase my gains.
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August 28th, 2007 at 3:00 pm
Richard - It seems that in order to capture a ’scalp’, one really needs to be at the right place at the right time (usually first thing at session open). How do you manage to identify those scalp candidates?
August 28th, 2007 at 4:20 pm
No, it’s actually much easier to scalp the afternoon when things aren’t so crazy. As for spotting today’s candidate: Homebuilders and lenders have been all over the news, and also are all in my weekly stock list since they have been moving so much. It was easy to see that the whole group was dropping in the morning.