Wednesday, March 20, 2013

Welcome to the chop shop

So it was another very uneventful day. I took two trades and and made a very small profit on both $SPWR and $GEVO. Enough to basically buy a pizza and a 20 oz Pepsi with some bread sticks and one of those cinnamon desert pies.

The market just seemed real choppy to me as there wasn't anything that I had on my radar that was running with conviction.

I continue to look for opportunity and it can be quite frustrating spending countless hours searching for that next runner. Looking at thousands of charts and thinking I have found some real gems only to have them reveal themselves as simply lumps of coal.

However, like a good fighter I have to get back up. So I take a few hits to the chin, maybe get knocked on my butt a few times. No big deal! I achieve my goals by overcoming obstacles. I measure the size of the accomplishment by the obstacles I had to overcome to reach my goals. So I keep my guard up, looking for those quick jabs I can take and with some patience I will eventually land a hay maker for the knockout but the only way that happens is if I keep fighting.

Watch list for tomorrow
$PIP,$GEVO,$ACAD,$BIOL,$ISIS,$CYTK,$EDAP,$END,$INAP,$XRA


I will have more in the morning. Have a great night everyone!

Briefing.com
After Hours
17:36 ET TLYS -10.3%, TUMI -10.2%, ORCL -8.2%, GES -5.4% following earnings/guidance :
The S&P 500 settled higher by 0.7% after spending the entire session in positive territory.
Other notable after hours movers on earnings: TLYS -10.3%, TUMI -10.2%, ORCL -8.2%, GES -5.4%, JBL -3.8%, PSUN -0.8%
 
Today after the close the following companies reported earnings: CLC, GES, MLHR, JBL, ORCL, PSUN, TLYS, TUMI
 
Futures are lower after hours: S&P 500 futures are -1.70 from fair value of 1552.20 and Nasdaq100 futures are -11.64 from fair value of 2799.14.
 
Tomorrow morning before the open two economic reports are scheduled to be released: 1) Initial Claims (Consensus 345k) and Continuing Claims (Consensus 3065k), and 2) FHFA Housing Price Index.
 
Tomorrow before the open the following companies are scheduled to report earnings: CATO, IHS, KBH, LULU, MCS, MPR, MOV, PERY, ROST, SCHL, WOR

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