1/23 Daytrades

The bulls did a pretty good job of buying the dip at the open. I'm not sure where we head from here but if I'd have to guess, I'd say we move a bit higher through earnings if they continue to be relatively decent.

POT - I got started a bit late today and didn't see any setups I like. Trader Sloth mentioned the strength in the ferts (POT, CF, MOS) so I kept them on the radar. The only one that setup a very nice narrow range was POT. Defining a stop placement was easy and once the market started rebounding, I picked up some shares on the breakout. I sold half for $2.00 profit and using the 5-SMA and 5-min bars to trail my stop, I got triggered a bit later as the rally faded.