August 17th 2009 8:15am EST

I'll occasionally post premarket charts here to explain trading strategies, for example in this morning's premarket gap up in the SDS... major bias is short since a gap up in this SPY Short ETF... minor immediate bias long since it's dropping off it's premkt high...

Note: These are not trading recommendations, do not make actual trades based on this information, it's for educational use only so that you can see some of my personal trading strategies that I use myself in my own trades.




Personally I'll likely buy SDS on any move over the 47.3/47.6/48.0
later in today's session if it continues up. What the immediate
drop means is there's a minor long bias these last few minutes,
though that's likely to change.

I'm not boing to stop out in positions that have gapped down, unless they take out new lows, for example in LVS here:



Here's one, ARIA, I'm in long 105 shares from 1.92, I'll sell it to book a small gain if it starts to lose this premarket gap up:


What I do NOT do, is panic-sell all open positions on minor gaps down, they need to take out new lows (under premarket lows) first. And since most of my positions are very small share long, stops are kept to minimal sizes in many cases.

I just updated my trailing stops in my Fidelity account to, to lock in gains on these winners (these are just some of the many stocks I'm in for this account; these are the most-green ones):



(all except for GGWPQ, I'll need to do that manually, for some reason I can't enter a stop-loss order for it; I'll assume it's because it's a "Q" stock)