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Day Trading | JUN 2011
Classic Short Sell Setup
Figure 1 is an example of a classic short setup for daytraders. This is a real bread & butter strategy used time and again. To set up this Monday morning trade, the premarket news was bearish with rumors of the country’s credit rating likely to be downgraded. All the market averages were down. So the bears were growling and sentiment was weak. BroadComm (Br c m) is one of 20 or so stocks I follow daily and at the open it frequently puts in a nice red bar, as do most of the other stocks I watch. So this time I stalked it for an entry to the short side.
by Jamie Theiss
Technical Analysis of STOCKS & COMMODITIES
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