Top Four Intraday Trend Day Trading Stocks for Feb 12
Trend Days – whether in stocks or ETFs – offer one of the most efficient methods for profits on the intraday/day trading timeframe.
Let’s take a look at the current Top Four S&P 500 stocks according to a “Trend Day” screen I run:
This is a new type of daily feature I would like to add to the blog, and I started with a recent post “Five S&P 500 Stocks Showing Strong Intraday Trend Days” from February 10. Always feel free to share your suggestions for what you would like to see on the blog in the comment feature below the post.
Today’s “Top Four” include Nucor Inc (NUE), Textron Inc (TXT), Qualcomm (QCOM) and Cummins Inc (CMI). Clicking on the links takes you to a free “Trend Analysis” and information page for each of the stocks (courtesy of Market Club).
As mentioned in a more detailed strategy from the previous post (Five Strong Intraday Trending Stocks) and in the “Compilation of 21 Posts on Trend Days,” the goal is to trade in the direction of the strong intraday trend (buying retracements or even breakouts) so long as price remains trading above the rising 5-min 20 period EMA (green).
Remember that a “true” Trend Day opens at one extreme (often with a gap) and closes at the opposite extreme, meaning price tends to trade with pro-trend tradable rallies and counter-trend ‘flag’ retracements all day long (at least textbook trend days do so).
Corey Rosenbloom, CMT
Afraid to Trade.com
Follow Corey on Twitter: http://twitter.com/afraidtotrade
Corey’s new book The Complete Trading Course (Wiley Finance) is now available along with the newly released Profiting from the Life Cycle of a Stock Trend presentation (also from Wiley).