A really slow trading day today for me due to having a very poor list of stocks to trade with. My play of the day came in JPM which I had on my list as a gap continuation play from Friday. I will usually play my gappers for 2 more days from the actual shock gap looking for continuation. Today I was able to start my play in JPM near 12:30 pm reversal time when JPM triggered its first 15 minute sell where I entered @ .92. Price moved lower nicely but the 3rd bar down bottomed and formed a small green doji style bar. The next bar was even smaller but neutral followed by a red bar that took out the prior lows bar where I went full on my play in JPM @ .76. It took awhile, but finally near the end of the day I was rewarded as my first target was hit @ .60 where I covered 1/2 of my short. I covered 1/4 more at .57 as price was beginning to bounce and I found myself covering the rest @ .64 as the market had bottomed. This play as well as a nice little play in WFM lower got the job done today…
JPM 04142014