Random Expiration Price Movement Is Daytrading Opportunity

expiration like June usually means lots of random price movement which

oftentimes is out of context of what you might expect. This makes the daytrader

a pawn in the game, but still enables you to react and capitalize on any

extended intraday price movement, just as you should have done yesterday. For

example, the
(
QQQQ |
Quote |
Chart |
News |
PowerRating) closed at 37.70, +0.3%, and a daytrader had a 1,2,3 HB

entry above 37.31, which was a +1.1% move from entry catching the afternoon

trend up from 1:45 p.m. ET into the close. The QQQQ had closed on Tuesday at

37.58, opened up at 37.83 yesterday, made a 37.87 intraday high on the 9:35 a.m.

bar, then knifed straight down to 37.25 and formed a 1,2,3 HB. The -1.0 and

-1.28 volatility bands were 37.29 and 37.21. The
(
SMH |
Quote |
Chart |
News |
PowerRating) had the same 1,2,3 HB

setup with entry above 33.74 after making a 33.65 intraday low, which was also

the -1.28 volatility band. The advance after entry was +1.7%, and yet the SMH

was only +0.2% on the day. Net net, if you are not versed in
RSTs and
1,2,3s in

conjunction with my Core Framework, then you are missing major profit

1206.58 with an intraday high of 1208.08 and back to the rally high range. The

Dow
(
$INDU |
Quote |
Chart |
News |
PowerRating) was also +0.2% to 10,556, with the Nasdaq
(
$COMPQ |
Quote |
Chart |
News |
PowerRating)

+0.3% to 2075. NYSE volume was 1.39 billion shares, the volume ratio 60 and

breadth +598. In the sectors, it was gold (XAU +1.6%), energy (OIH +1.4%) and

basic materials (XLB +1.0%), which closed at 28.63 for the first close above the

head-and-shoulder neckline, which is a positive, so be ready for any

continuation in some of the smokestack stocks.
(
ROH |
Quote |
Chart |
News |
PowerRating), mentioned on Monday,

broke out of an 18-day range above the high range close of 47.20, closing at

48.23 yesterday. If the Transportations also get going and the Generals can

break out the SMH (semis) from the prolonged range between 34.95 – 29.65, they