Friday, August 28, 2015

5 Truths

Good morning folks,
So it was just your average 10000 point swing up and down in the Dow this week. Volatility is back and in a big way creating one of the best short term trading environments we have seen in quite awhile. 

Historically September and October are challenging months for the market and while there is no guarantee that the volatility is going to continue. I have been holding an above average level of cash at the close of each day while taking advantage of day trades like FCX and STXS yesterday.

It is too early to call a bottom on this selloff, bounces can last a weeks or even a month and there is still a lot of technical damage that needs to work itself out. 

Keep an eye on materials, metal, solar and the oil sectors. They could be stabilizing, Carl Icahn announced an 8 percent stake in FCX after the close.  The "smart" money has been dipping there toe in the beaten down sectors and at some point they will be in vogue once again but it could be another year or two.

Stocks on my radar premarket

Bullish and may have lottos in play

Cautiously optimistic

Very Cautious may even present a short opportunity 
Micron +4% Folowing Report Tsinghua Chairman to Meet With Micron Board to Discuss Potential Deal
Beaten up name already had a nice bounce could be more of a swing would prefer to get it on a pullback 

Could be in a nice bounce area Mad Money appearance last night Nice balance sheet could be more of a swing type

Smith & Wesson Sees Q2 Adj. EPS $0.19-$0.21 vs $0.15 Est.; FY16 EPS $1.14-$1.19 vs $1.04 Est.
Nice earnings beat raised guidance flirting with 17 premarket look for intraday setup

Super thin looking for some volume on a break over the 4 dolla holla may need some news to get it going though

Could continue its run along with FCX looking for a 2.50 test 
Senomyx Announces FIrst Commerical Use Of Sweetmyx S617
Nice pr Good looking daily Look for a strong break over 7.50 with volume could test the 8 dolla holla 

There may be no live session or video this week Heading out for a little Vacation. Enjoy your weekend be safe and have fun!