A great day trading today. The indexes made big gains, and although volume was low, it was higher than Friday. According to IBD rules, today qualifies as a follow-through day in the market, a day when the market confirms a new rally. Also bullish, the Dow hit a new 52 week high.

I had a few triggers today. Trading is always easier when the market moves higher, especially after a correction. Let’s look at those:

LCAPA had a great day, super volume.

TUP also moved well all day long.

KOG triggers in the afternoon then pulled back. May need some more time.

TXT barely triggered.

NLC gapped up at the open. It pulled back, allowing for reentry, but didnt move much from there.

Nice continuation in MA.

Some nice moves in the 3X ETF’s today. Traded FAS using the setup from the lesson I posted last week.

Trade Ideas for 11/10/09:


Good luck and good trading!