Who ever said mo money mo problems?!? The more money i have the way less stressed i am and more materialistic things i can buy. Who doesn’t like materials?? Day trading has proven to be a profitable endeavour and its really not that hard. Just have to stay calm, be patient and wait for the right opportunities, and most importantly if the trade isn’t going your way, get out and cut your losses. Today we went 3 for 4 on our day trading stock picks that i alert to Black Service members in Real Time of buy and Sell prices so that they can profit from my trades. So lets take a gander and review todays day trading session.

Day Trading Stock Pick #1 UAUA

UAUA was forming a beautiful looking ascending triangle pattern and price was riding along the short term 13ema trend indicator. I went long at 7.57 on this support as higher lows were telling me this stock is in an uptrend and a breakout is in near sight above 7.75. Truth be told i was right and we broke to the upside where i took profits at 8.04 and 8.38. Sure this stock went up to $10. But you can’t predict that and need to take your profits while you have them in the fast paced day trading world.

Technical Analysis:

Day Trading Stock Pick #2 PNX

We’ve been bank on PNX earliar this week on the short side but now it was time to hop in for some longs and see what kind of money we could make on this side. Early in the morning around the same time as UAUA i hopped into PNX as it was breaking out of short term resistance and went long at 5.42. Price quickly rallied up near the 50ema where i decided to take my profits at 5.72 for a solid gain. I tried going long in this again as the chart was telling me it was going higher and it did, but due to intraday volatility i was stopped out of my position for a small loss. Its essential in trading that you stay disciplined and cut your losses short. Theres no way i could have known for sure that the PNX was going to rally after i got stopped out at 5.59. The important thing is that i stayed disciplined and got out of the trade when it appeared not to be going my way before i lost any more money.

Technical Analysis :

Day Trading Stock Pick #3

And last but not least i went and bought some AAPL. And what do yah know were up on the position. How bout dem AAPL’s! AAPL has sold off a significant amount in this crap of a market so as the market was forming a bullish hammer candle during the session which signifies that a rebound could be in play i went long in a quality stock like AAPL at 96.05. The market then surged later in the day up 400 points bring AAPL to close at 101.89 and it up to 103.30 AH. This position is actually still open with a 6% gain but i intend on selling tomorrow hopefully on a gap open.

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Apple announced today the release of there new line of ipods today with several new updates to the Models. The new Nano is the thinest ipod to date and they switched back to the longer rectangle shape instead of the latest small square shape which i thought was pretty cool for the Nano in my opinion. And prices are fairly reasonable for the new Nanos as well with the new 8gb for just $150. I still have my 1gb nano that i paid $200 for when apple first released the slim nano model a few years ago haha. Funny how much changes in a few years with technology and prices…. Also another new feature with Itunes 8 is a really cool feature that actually was already featured in the napster software that i just ended my year long sub for cuz i had it for free But Apple calls it genius, click the buttom and it will create a playlist of all similar songs and artists on your ipod and in itunes. This was a great feature for me when listening to music on my napster desktop software. Just find one song you like, click the mix button and it would stream a lot of cool songs for as long as you wanted. Of course napster sucks because you can’t put the songs on your ipod…..

But how about AAPL’s stock? It tanked today around 4% on the news yet you can’t really blame the news when the DOW stumbles 280 points basically taking all of Mondays FRE and FNM bailout  recovery gains… This market is so retarded…. But anyways Looking at AAPL stock chart price is sitting right on heavy support in the $150/share area so this could be a promising support area to play a short term bounce in this stock. Of course keep your stops tight and wait for signs of stability/reversal.

Technical Analysis: