Traders, here's 7 tips I sent to my house list on Friday, Oct. 24th to help:

Hi Traders,

This morning's futures look the strongest "down" I've seen in
a very long time... the Nasdaq premarket futures on cnbc were
-85 in the red (!) and they're putting curbs/limit futures down
rules in, to help avoid a crash.

And I'm excited. This is such a great time to be trading, for
those of you who are fellow "grizzled veterans" of the day trading
scene, you'll know what I mean... this is a rare time to be
capturing some of the strongest, potentially profitable moves
ever.

So let me share what I'm going to be looking for in my trades
this morning, some tips that I hope will help you:

STRATEGIES I'M USING FOR TODAY's "Black Friday" Gap Down Open:

#1) Look for the strongest gap movers, especially ETFs/index
fund stocks should be great to trade on either direction
outside of consolidation regions, eg QQQQ/SPY (bull, gapping
down here premarket) and DXD/QMI/SDS (bear, gapping up)

#2) On strong broad gap down days like today, *look for hammers*
if you're trying to spot reversals, which likely won't occur
before 10am, on strong volume.

#3) On continuation plays, *look for bearish engulfing and
three-line break patterns* using the 5-minute 2-day candle
chart.

#4) For spotting candle patterns for intraday, I'm finding
that the 5-minute candle chart (vs 1-minute tick chart) is
providing the strongest hammer and 3-line break plays. I also
have the 1-minute advanced chart and time & sales for realtime
trading setups; it's a powerful combination.

#5) Be prepared to trade both directions, particularly long
plays later in the session, anytime after 10am, and especially
into the close, if the market "comes back". It will completely
be *expected* to see the market pivot to the long side if it
does so, and my tip is, don't be caught unprepared if there's
a strong upside move sometime during today's session.

#6) Straight momentum short continuation day trades: For
intraday quick day trading moves, you may want to look for
short "bear cup" continuation plays.

#7) Confirming momentum short breakdowns? I'm looking to
see if there's going to be strong volume breakdowns under
whole number continuations for those that are moving the
strongest in today's session.


That should be useful to you - best wishes with your trades!

-Ken