Nightly Routine: Go to the NASDAQ earnings calendar and put all the stocks reporting earnings that night and the next morning into a watchlist. Sort the watchlist by % gain and pay special attention to stocks up 10%+.
When the market is bad, don't buy the XGPT picks at the entry signal. Since it always puts its risk level at some kind of support, instead buy it if it hits the entry price but then crashes down to the risk level and starts looking like it wants to bounce. Use XGPT to evaluate the premarket earnings winners that are trading volume and buy it at the entry point if it likes them.
Premarket: Don't trade premarket
ALWAYS DOUBLE CHECK THE STOCK PRICE AGAINST POWER ETRADE, STT DOES NOT ALWAYS GIVE THE CORRECT STOCK PRICE. THIS STEP WILL SAVE YOU A LOT OF MONEY.
Morning Open: In the first 30 minutes, buy the XGPT afternoon picks from the previous day that hit the buy signal that didn't before. If it gaps up to the buy price premarket, wait for it to dip down after the market opens and buy it if it spikes back up to the buy price during the market hours with good volume. At the market open, look at yesterday's earnings runners that are green and buy them if they start spiking or if they dip down and have a hammer candle, or just dip down and start going back up. Instead of trying to predict which earnings will cause a stock to spike, just look at the best ones the day after. If you dip buy too early you can add on these stocks, these are very good. On the small stocks, these can have a 15%+ bounce from the bottom. If it spikes up a little bit at the open, you can dip buy it if it dips down afterwards while staying green. You usually have to hold these stocks for 30-40 minutes, so quite a long time. Risk the stock going red, and start selling when you're up 5%+.
Midday: Looks at stocks on THE FIRST DAY OF EARNINGS that had a morning spike and buy if they are holding their gains AND trading sideways. Hold until the afternoon or cut losses if they break through support. Experiment with cutting losses only if they give back half the gains of the morning spike.
Afternoon: Trade the XGPT picks that score 77.5%+. If XGPT has a dip buy, you can dip buy it if it comes within 1% of the entry price and it scored 77.5%+. Don't try to dip buy the day's earnings winners, the upward movement happens in the morning/midday on those.
Afterhours: Buy the XGPT afternoon picks if they hit the entry signal after-hours
(Still experimenting with this) Short premarket spikers near the open for a gap and crap. Use IRIS to judge the worst ones and go after those? 9:50 onwards, switch to 30 minute charts and look to see which premarket spikers had a hammer candle in the first 30 minutes of the market open. If they are hammering, buy them no earlier than 9:55?
ALSO, scan for stocks that reported earnings after-hours/premarket and have not traded a whole lot of volume and are gapping up 10%+. Run the Sykes Sliding Scale and IRIS on them and pick the best one - PRIORITIZE REAL COMPANIES AND DIP BUY THEM - buying on dips+hammer candles is preferable. DON'T TRY TO PREDICT THE SPIKE, THIS IS FAR TOO RISKY. INSTEAD, WAIT FOR IT TO PROVE ITSELF BY SPIKING UP AFTER THE MARKET OPEN AND THEN DIP BUY IT AT VWAP. If IRIS gives a buy price, buy it at that price. Also, keep an eye on the complete list of earnings because stocks can also spike in ANTICIPATION of earnings, so if volume comes in and the stock starts spiking we can still buy it anyways if it dips down to VWAP. Run IRIS on the biggest % gainers on the earnings watchlist in case the reason the stock is spiking is unclear, sometimes it is not very clear. If IRIS says the stock reported earnings, dip buy it near VWAP and if it has sharp crashes into support. Draw the support levels. Run IRIS on all the stocks on the earnings watchlist that are up 10%+.
Join now or log in to leave a comment