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Patterns To Watch

Another 10:45 Winner!

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Written by Timothy Sykes
Updated 6/26/2024 4 min read
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Yesterday morning we watched ANOTHER stock follow my 10:45 A.M. pattern.

I would have traded it too … But I had a little accident.

See my posts on X below:

 

I missed the 10:45 A.M. move on yesterday’s runner.

But my students had every opportunity to catch this move!

We’ve been talking about this pattern for almost two weeks now.

On Tuesday, this company announced a debt refinancing with a $105 million term loan. And the stock’s float is only 2.1 million shares. Naturally … Share prices spiked 210%* before the market opened for regular hours.

A trader could have played the premarket spike. Or … They could have waited for the 10:45 A.M. pattern.

You NEED to learn this pattern for the next trade opportunity.

We’re in the middle of a red-hot 2024 stock market. And Tuesday’s runner is just one example … It won’t be the last!

Key Price Action

tim sykes pointing at chart
© Millionaire Media, LLC

We’ll use Tuesday’s runner as an example since it’s the most recent … And it could still be in play today, June 26.

Pay attention:

We’re always looking for a low-float spiker with news.

More Breaking News

  • The low float ensures a low supply of shares. It helps the price spike higher when demand increases.
  • The news sparks demand.

We like to see the stock spike early in the morning and give us important price action to use as support and resistance.

The price action ideally mellows out after the market opens (10:45 is an estimate). Then, due to the 2024 market strength, the stock tries to surge mid-day.

That’s our time to shine!

On Tuesday, Regis Corporation (NASDAQ: RGS) announced its debt refinancing with a $105 million loan. The price peaked in the morning around 10:00 A.M. … Then it sank to key support at $15.

A trader could have bought in the consolidation and sold into the surge toward the highs.

We don’t need the stock to break out.

Sometimes a safer* play between major price levels is the best setup. Take a look at the chart of RGS below demonstrating the 10:45 A.M. pattern.

It doesn’t look like much, but this is a 15% trade opportunity:

RGS chart intraday, 1-minute candles Source: StocksToTrade

Most investment accounts would LOVE a 15% gain on the year. My students and I are looking for those kinds of gains in a single day.

Sure … RGS went on to make new highs in the afternoon. But we’re never going to time it perfectly.

Stop thinking about what could have been. Instead, think about what you can do. We have to be realistic about our profits.

Now, there was A LOT on the table yesterday.

I expect A LOT of the same volatility the rest of this week.

If you ever get stuck, use my AI trading bot to stay on track. My newest students use it to follow the framework that my millionaire students and I use to profit from volatile runners.

There’s never been a better time to start trading. This 2024 market is on fire!!!

Don’t miss out!

Cheers.

 

*Past performance does not indicate future results

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* Results are not typical and will vary from person to person. Making money trading stocks takes time, dedication, and hard work. There are inherent risks involved with investing in the stock market, including the loss of your investment. Past performance in the market is not indicative of future results. Any investment is at your own risk. See Terms of Service here

The available research on day trading suggests that most active traders lose money. Fees and overtrading are major contributors to these losses.

A 2000 study called “Trading is Hazardous to Your Wealth: The Common Stock Investment Performance of Individual Investors” evaluated 66,465 U.S. households that held stocks from 1991 to 1996. The households that traded most averaged an 11.4% annual return during a period where the overall market gained 17.9%. These lower returns were attributed to overconfidence.

A 2014 paper (revised 2019) titled “Learning Fast or Slow?” analyzed the complete transaction history of the Taiwan Stock Exchange between 1992 and 2006. It looked at the ongoing performance of day traders in this sample, and found that 97% of day traders can expect to lose money from trading, and more than 90% of all day trading volume can be traced to investors who predictably lose money. Additionally, it tied the behavior of gamblers and drivers who get more speeding tickets to overtrading, and cited studies showing that legalized gambling has an inverse effect on trading volume.

A 2019 research study (revised 2020) called “Day Trading for a Living?” observed 19,646 Brazilian futures contract traders who started day trading from 2013 to 2015, and recorded two years of their trading activity. The study authors found that 97% of traders with more than 300 days actively trading lost money, and only 1.1% earned more than the Brazilian minimum wage ($16 USD per day). They hypothesized that the greater returns shown in previous studies did not differentiate between frequent day traders and those who traded rarely, and that more frequent trading activity decreases the chance of profitability.

These studies show the wide variance of the available data on day trading profitability. One thing that seems clear from the research is that most day traders lose money .

Millionaire Media 66 W Flagler St. Ste. 900 Miami, FL 33130 United States (888) 878-3621 This is for information purposes only as Millionaire Media LLC nor Timothy Sykes is registered as a securities broker-dealer or an investment adviser. No information herein is intended as securities brokerage, investment, tax, accounting or legal advice, as an offer or solicitation of an offer to sell or buy, or as an endorsement, recommendation or sponsorship of any company, security or fund. Millionaire Media LLC and Timothy Sykes cannot and does not assess, verify or guarantee the adequacy, accuracy or completeness of any information, the suitability or profitability of any particular investment, or the potential value of any investment or informational source. The reader bears responsibility for his/her own investment research and decisions, should seek the advice of a qualified securities professional before making any investment, and investigate and fully understand any and all risks before investing. Millionaire Media LLC and Timothy Sykes in no way warrants the solvency, financial condition, or investment advisability of any of the securities mentioned in communications or websites. In addition, Millionaire Media LLC and Timothy Sykes accepts no liability whatsoever for any direct or consequential loss arising from any use of this information. This information is not intended to be used as the sole basis of any investment decision, nor should it be construed as advice designed to meet the investment needs of any particular investor. Past performance is not necessarily indicative of future returns.

Citations for Disclaimer

Barber, Brad M. and Odean, Terrance, Trading is Hazardous to Your Wealth: The Common Stock Investment Performance of Individual Investors. Available at SSRN: “Day Trading for a Living?”

Barber, Brad M. and Lee, Yi-Tsung and Liu, Yu-Jane and Odean, Terrance and Zhang, Ke, Learning Fast or Slow? (May 28, 2019). Forthcoming: Review of Asset Pricing Studies, Available at SSRN: “https://ssrn.com/abstract=2535636”

Chague, Fernando and De-Losso, Rodrigo and Giovannetti, Bruno, Day Trading for a Living? (June 11, 2020). Available at SSRN: “https://ssrn.com/abstract=3423101”