No Trades Today, Unfortunately – Here’s Why

February 27th, 2007

I’ll bet a lot of us spend a good bit of time hoping for a market day like this one. What happens when one actually occurs? I sit on the sidelines! Hopefully Tim Knight and the permabears were prepared and capitalized on a nice down day.

What am I taking away from today? A couple things. It’s not that I found flaws in my system per se, and it’s not that I was unprepared or unaccustomed to trading the short side.

I was totally unprepared for the sheer volume of candidates today. On a normal day my scans produce at most 120 stocks or so that I filter down to about 20. Today on shorts alone, my scan produced 443 candidates. That was totally overwhelming and I pretty much threw in the towel for the day when I saw that. I thought my morning routine to find gaps was pretty efficient until today. 99% of the days it is efficient and almost always takes less than 5 minutes to come up with my list. I just need to have a plan for days like this.

I’m quite interested to see how other dummy/gap traders handled today. Do you have a plan for filtering through an overwhelming list of choices? X? Esto? Zoomie? TraderMike?

3 Comments

  1. Ugly Said,

    February 27, 2007 @ 7:34 pm

    On days like today it is helpful to come into the day with a list. Other than that – I don’t know – sort out the best looking of the best charts?

  2. Dave Said,

    February 28, 2007 @ 6:20 am

    @Ugly:

    That’s a good idea. Thanks for the suggestion.

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