As of 11 A.M there are 4 stocks showing up on scan. Now I took one trade out of this early morning when it appeared on 2% scan, XING. The stop is 16.52, which is the low from two days ago. It was also showing on Episodic Pivot scan, so I chose it instead of choosing one from IBD 200 list. It also had few weeks of weakness.
Out of the 4, 2 were existing positions as both had Episodic Pivots few days ago.At the same time I closed my FRPT positions of few weeks ago as it gapped up, I moved my stops to lock in profit and got stopped out.Also FRPT was showing churn on high volume from yesterday, so I was anyway going to close it. So I put that money to use and bought XING.Now this is not a full position as I am holding cash reserve for earnings trade.
So even though there are number of breakouts from the list in reality unless there is cash in account, I will not buy a fresh position. So rest of the time it is just doing nothing. Actual trading in a week is at best 40-60 minutes of work all put together. Most of it is mundane thing like running scan and adjusting stop or opening and closing stops.Sometime there are weeks with no new trades. That is the time I spend writing posts on blog or answering emails or R&D new things.
ACAD,Acadia Pharmaceuticals (Google Yahoo Earnings Chart)
DGIT,Dg Fastchannel Inc (Google Yahoo Earnings Chart)
SMSI,Smith Micro Software Inc (Google Yahoo Earnings Chart)
XING,Qiao Xing Univ Telephone (Google Yahoo Earnings Chart)
From the earnings track, INSW which had earnings last night fired and is up 71%.