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    Stocks Making: Reversal New Highs Setup on

    Rules (via 'Hit & Run Trading II'):
  • As always, the stock should be priced at more than $30 per share. The higher the price, the better
  • Today the stock must do all of the following:
    1. It must trade under yesterday's low.
    2. It must then trade above yesterday's high (in other words, form an outside day).
    3. Today's range must be the largest range of the past five days, and today the stock must make a new 60-day high.
  • For the buy: tomorrow only, buy 5 cents above today's high and risk 1 point.
  • Use a trailing stop and stay in the position until you are stopped out. This can be as short as a few hours to as long as a few days.

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