Wednesday, May 29, 2013

I hate gap up days

So yesterday was a decent day but Going through my scans I should have had a much better day. Gap up days seem to be one of the more challenging types of days for me to trade with success. It did allow me to exit some more of my long swings on the pop first thing in the morning  I exited some $ACAD,$FCEL $FNMA, $ROYL,and $CLSN I didn't blow out of my entire positions but I did take some profit.

I missed several break outs off of my video watch list that really irritate me $CAMP $LYV $STSI, $CYCC,$DVAX its not like they were screaming higher but I still missed catching a quick trade.

Yesterday had the feel of a blow off top as the market opened with tremendous strength and for the remainder of the day it seemed to want to go lower taking many of the stocks I was following with it. I saw a lot of reversals and this gave me pause about trying to establish new positions. $ECTY was one that I took for a very quick trade. I literally held it for less than 15 minutes.I also took a position in $PIP  which I already held for a swing if the market continues to weaken I may have to exit that position until there is more clarity from the ruling.

The market looks like it wants to open weaker this morning it will be interesting to see where we close out the day.
Morning movers and others that caught my eye
$POZN pr, $PCRX pr, $KTOS pr 6 dolla holla and flat top breakout, $MITK pr, $SQNM moving averages held up,$BLDP pr possible 2 dolla holla,  $SONS pr upgrade, $MTG, $XOMA $STSI continuation, $SCMP pr, $RTK like the daily, $OMEX, $CLSN continuation  

Seeking Alpha
 Today's Markets: 
In Asia, Japan +0.1% to 14326. Hong Kong -1.6% to 22555. China+0.1% to 2324. India -0.1% to 20148.
In Europe, at midday, London -1.3%. Paris -1.4%. Frankfurt -1.3%.
Futures at 7:00: Dow -0.5%. S&P -0.6%. Nasdaq -0.5%. Crude -0.5%to $94.50. Gold -0.6% to $1387.60.
Notable earnings before today's open: KORSBMOTSLTFMCHS,DSW
Notable earnings after today's close: AVGO
Briefing.com
Today's Upgrades:
CompanyTickerBrokerage Firm
Fibria Celulose S.A.FBRJP Morgan
Palo Alto NetworksPANWPacific Crest
EnerNOCENOCRaymond James
Denbury ResourcesDNRCredit Suisse
MicrochipMCHPCitigroup
Analog DevicesADICitigroup
Linear TechLLTCCitigroup
AthenaHealthATHNRaymond James
Sonus NetworksSONSJefferies
Peugot SAPEUGY.PKHSBC Securities
TencentTCEHYHSBC Securities
Today's Downgrades:
CompanyTickerBrokerage Firm
EnerNOCENOCPacific Crest
Gran Tierra EnergyGTETudor Pickering
Portugal TelecomPTBerenberg
Western Asset MortgageWMCCitigroup
Javelin MortgageJMICitigroup
BrocadeBRCDMorgan Stanley
ConceptusCPTSRaymond James
Maxim IntegratedMXIMCitigroup
ComericaCMAWunderlich
Home BancsharesHOMBWunderlich
Pinnacle FinlPNFPWunderlich
Capital Lease FundingLSEMLV & Co

Good Luck Trading Today !!!!!


 

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