How to Find the Best Stock Picks After the Market Opens
Trading the Open Like a Pro
Today we begin with a stock trading lesson for beginners:
Thousands of stocks trading after the market opens. How do you you follow them all to make the best stock picks?
The answer is you don't!
Great traders focus on the their A+ trades. The best trading strategy is one where you are looking for something very specific and you ONLY create a trading game plan for those stocks.
Today's trading lesson focuses on how to predict the first 30-90 minutes of trading. Then I show you exactly how to find the best trades using two simple columns found in most charting software.
We illustrate the point using NFLX Netflix because it had a negative day in a strong market.
STOCK MARKET NEWS
The $2 trillion stimulus package passed and stock futures continues the buying we saw in yesterday's trading. (see chart below)
Prices have declined but that sets up a new buying opportunity. Very important to use your tape reading skills today.
We could be looking at a "sell the news" type of day.
NKE is up $7 in pre-market trading following earnings as well. I like the long but not on the open.
Feel free to leave comments, questions or feedback.
Have a great day!