Large gap up in the Q’s this morning almost to the highs of May 22nd, price opened at 74.27 and price has continued to move on up until 10:30 where we might have set the high for the day in the QQQ @ 74.54. Currently price is trading @ 74.43 and looks to go lower…
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My trade of the morning was in MSFT which I found on my daily buy watch list. MSFT triggered its daily buy by gaping up this morning with the market. I usually do not play stocks on my daily list until later, usually after 10 am but I had a poor gap list this morning so my plan say’s to look for a momentum style play which MSFT fit the bill. The first minute bar in MSFT put in a nice bottoming tail after gaping which caught my eye, then, price nicely consolidated for the next 4 minutes, I was all over this play as Price moved on up out of the consolidation. Price never looked back as MSFT hit two targets and I was looking to add back some shares and reduce my stop, but my fat finger got in the way and I sold out of my last remaining shares by mistake 🙁 This time the fat finger saved a little of the profits as Microsoft ended up rolling over and I would have given up even more of my profits. A little over an “R+” profit, painless, sweet on this Tuesday morning after a long Memorial Day weekend.
