Most mornings, if the conditions are ripe for it, I will put together my early radar of potential daytrades for the day. I try to get most of my daytrades in after amateur hour (the first hour of trading), but before the third or fourth hour of the day sets in.  I want time for a stock to run-up during the day, so I am not pressed to sell too close to the market close with everyone else.

I utilize stop losses with all these trades and most of my action is discussed in the free live chat. I try to update my StockTalks/Twitter with some of the information as best as possible from the live chat.  Lastly, I will update the site and forums later in the day or at night.

I will attempt to post my radar before 10am central on days I am actively seeking daytrades.  I try to keep my plays under $15 and above $1.  This radar changes everyday, sometimes in just a few hours, so do not view this as my radar for any day other than today.  Here is today’s current list, which may change at any time during the day:

Today is a day that I nearly posted no trades for.  The market is acting very weak and the volume is making it even more risky.  However, since we are down a good chunk (about 1% in the red in all indices) on weak volume, we could see a move back towards even on the day, giving some good action.  If that does happen, here is a short-list to work from that confident bulls may run to.

Brocade Communications (BRCD)

Alkermes (ALKS)

Amarin Corp (AMRN)

 

Mike

No positions in mentioned stocks, but may initiate a position within 24 hours.