New Suspects from the East
On trading mornings (i.e. off from the “other job”), I’ll spend quite a bit of time lining up potential suspects before the market opens. I make my general list as you’d expect: yesterday’s breakouts, heavy trading in extended hours, gaps, etc. Basically stocks which are set up for a potentially heavy-volume, high-volatility day. Then the first 10-60 minutes after the open is the high-intensity task of paring them down to a few prime candidates and looking for good setups in real time.
My list always includes what I (as others) call my “usual suspects.” These are stocks which, even if they’re not moving on some breakout or news, still very often produce good daytrade setups because they move around virtually every day. These amount to 10 or 12 stocks I always look at and include names like BRCM, AAPL, CWPC, BIDU, and lately GM, believe it or not.
Starting today I’m adding an entire group to my everyday list. You may notice that they have something in common:
- JRJC> China Finance Online Co. Ltd.
- CESV> China Energy Savings Technology Inc.
- CHINA> CDC Corp.
- CMED> China Medical Technologies Inc.
- CNTF> China Techfaith Wireless Communication Technology Ltd.
- CTDC> China Development Group Corp.
- CHNR> China Natural Resources Inc.
- CAAS> China Automotive Systems Inc.