This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com

I got the CKFR stock idea for today from Wall Street Warrior. He is a GREAT trader; I just managed to flub CKFR. I assume he did not find a low-risk setup for this trade.
Short CKFR:

I am short SPY now @ 147.10 in after market action for an overnight OMNI trade.
SPY OMNI Trade:

This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com

One trade today, in CheckFree Corporation (Nasdaq: CKFR). This one’s been on my Stocktickr watchlist since 8/16/2006, so it was especially satisfying for it to finally break my target price.

The first time it fell through my target 34.35, there wasn’t much volume, and it popped back up pretty quick. I waited for the second break to short the stock. That was after 3pm, but as I mentioned yesterday, I’m not sure avoiding the last hour of trading is doing me much good. As long as my win rate stays up, and I set my sights on, say, 1 R profit, I may give more late afternoon trades a try.

As you can see, the move I shorted had more volume. I got out the first time momentum seemed to be letting up. Late day trades are no time for greed!

I may not be trading the rest of the week. I have a number of social commitments to attend to. We’ll just have to see if I can get away. I’ll make every effort to at least keep my watchlist up to date, and post the daily scans.

Stocks Mentioned In This Article
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