Morning Stock Watch List

I will be periodically (starting this week) posting a "Morning Stock Watch List". In this post I want to explain a few "ground rules", so to speak.

And....please...if you are going to use any of these as trades: (1) do so at your own risk, (2) please let me know that you are even looking at them (otherwise I won't know that the time/effort is worthwhile); (3) engage in some dialog with me on them, now and then. Discuss intraday on Twitter (Tweet me at John_NY; or if you don't have a Twitter account you can Direct Message me with a text message from your phone: To: 40404 , Begin the text with "D John_NY". Give me an email contact for you in the message and the stock that you are interested in, otherwise I won't know how to dialog with you.

The Ground Rules...

THESE ARE ALMOST ALWAYS CONTINUATION PLAYS FROM THE STRENGTH OF THE PREVIOUS DAY. They are always intended as Day Trades, at least in the present market. That is not to say that I don't hold overnight sometimes, though it will usually be for only part of the original position.

1. I am only posting Longs (at this this time).
2. I may give Trigger levels (I always have them)
3. I may give Stop and/or Targets. I always have them, but Stops are always worst case determined before the opening of the day, so they almost always get adjusted.
4. If a Stop is given and is more than 1%, I will use 1% or at most 2% on a low priced stock.
5. All the usual thoughts about don't take a breakout at the open, be careful about gaps, etc, etc. When I take (how long I will wait after open) often depends on how the markets open.
6. I will be very cautious about taking the first hit of a trigger IF the trigger price is close to either R1 or R2 of the daily pivots (stocks tend to stall at/near pivots.
7. I will take partial or full profit at/near R1 or R2 if we are stalling there, and will always (if I am diligent) raise the stop to reflect the stall.
8. After a move through R1 or R2, I will use (close to) just below R1 or R2 as the stop.
9. All rules are made to be liberally interpreted and followed or not as the stock movements seem to dictate. Loss management is key!