daytrade diaries wednesday

Morning all

The DOW falls 238 points on weak company earnings outlook. No surprises there.

What is surprising, is that in the US, December the 21st is National French Fried Shrimp Day, or to you and me, Deep Fried Battered Prawn Day.
Celebrate and enjoy this pre Christmas treat.

Stocks to watch today:

GPT – I suggested yesterday it might pop the trendline and it obliged at the end of the day with a flurry of buying in the closing auction. Whether it continues the move today will depend on whether the insto accumulation and selling is done or not.

AIO – also made the break yesterday, with some early volatile intraday swings. A buy and hold strategy would have been the way to go here. For today, your guess is as good as mine – possibly better, as I got it wrong yesterday.

TSE – three down days since the recent high and this one offers scalp opportunities on most days if you are quick. Watching now for an end to the pullback and perhaps a consolidation period.

DXS – plenty of drama here yesterday with methodical insto selling followed by a quick, sharp rally (possibly some short covering). Threatening to break out on the daily chart.

MGR – should put in a bottom soon.

I went through my watchlists to look for high volumes yesterday and came up with the following.
My intention is to look more closely at the intraday trading behaviour of these to see where the scalping opportunities lie.

CPA ABP MRE BBI CGF CSR DUE GFF MAH NXS PPX SKI


FRENCH FRIED SHRIMP

2 lbs. unpeeled medium-size fresh shrimp
1 c. all-purpose flour
1 1/2 tsp. baking powder
1/2 tsp. salt
2/3 c. water
2 tbsp. lemon juice
1 tbsp. vegetable oil
1 egg, beaten
Vegetable oil for frying

Peel and devein shrimp. Combine flour, baking powder, and salt in a medium bowl; make a well in center. Combine water, lemon juice, 1 tablespoon oil and egg; add to dry ingredients and stir until batter is smooth. Dip shrimp in batter and fry in hot oil until browned. Serve with zippy sauce.

ZIPPY SAUCE:

2/3 c. chili sauce
1/4 c. lemon juice
2 to 3 tbsp. prepared horseradish
2 tsp. Worcestershire sauce
1/4 tsp. hot sauce

Combine all ingredients, stirring until smooth. Cover and chill. Makes 1 cup.