Today’s day trade was AERI. It gapped over 40% on “good news from the FDA”  Typically I do not follow the news but I rather follow the chart.  This morning AERI gave several entries to get in however I like to wait for my set up.  I entered the trade around 9:53  ($19.94) and I waited out all the back and forth since it was trading in a particular channel.  Finally at 10:14am the trade popped above the first morning high $20.63 and I made an exit gracefully at $20.75 for $.81/share gain.  It was an awesome trade for I seen my exact set and capitalized on what I’ve seen so many times during break outs.  After my first major trade, I traded around AERI supports and resistance areas it established during the day. A nice short at 12pm at $20.64 –5 min Doji, all the way to support at $19.61 established at 10:32am and 10:37am.. Since it held support, cover and go long and take the trade to next resistance prior support at $20.21 established at 11:32am and 11:43am, for a nice $.60/share gain.  As I write this at 3pm AERI is currently in the channel of $19.61 and $20.21.   It is imperative to know your stocks range and areas of supports and resistance. Focusing on one stock you can maximize your profit because you are well accustomed to your new best friend (for the day)!

Cheers!