I feel so, >>>>>>>> violated!

Its slim pickings out there and many of the setups I loved are no more. The setups have been violated and they are no longer in play. In this type of market its going to be harder unless your on the short side to find trades that work with breakouts that follow through. That doesn't mean there won't be any it just means they will be harder to find. One thing I strongly recommend is watching the news feeds very closely. Two of the trades that worked yesterday were off of press releases. $LYV and $ROYL and $CERE were all great trades and they were all extremely quick so you have to be alert and ready to pounce. I also took trades in $MITK which I still like and will be watching today I made enough to cover the commission and buy myself a twinkie! I also added $CYTK to a swing position that I already hold as I like it for the long term.

 In full disclosure I took $CERE as a stealth trade primarily because it is an extremely thin stock and I didn't want anyone to follow on the trade if it happened to go south. Its much more difficult to get out of the thin ones and the spreads can be brutal. Fortunately it worked out but I could have done far better in the trade as I bought it @ 2.65 and sold it @ 3.40 I should have held some because later in the day it hit the 4 dolla holla!

I have said many times that I believe it would be extremely healthy to have a market correction of 10 to 15% and if we violate the 50 day on many of the indexes then we may just have one. This is the time to be on the lookout for those wish list stocks. For those of you that want to take swings or have an IRA where you don't mind having some long term holds, this is when you should be getting that list together.

Opportunity is still out there its just a little harder to find especially if you don't short individual companies.

Morning movers and stocks that barely caught my eye

$RGLS nice volume held up strong yesterday possible continuation, $URG broke out of bull blag off the 20 day continuation?, $MITK continuation, $NAVB testing moving averages, $SQNM kinda sloppy but possible flat top BO moving averages held, $DNDN testing 50 day, $GMO riding the 50 testing the 20,
$VVTV bull flag, $TASR already in this one for swing looking to add, $MERU still like the daily for possible flat top break out,  $TEAR bounce play off 20 day, $CPST bull flag but be careful they report earnings after the close, $GALE possible bounce play off the 200 day,  $BLC gapper pr >>>>>>>>>>>>>>$EVC $GTN $CETV $SBGI $TVL possible sympathy plays  $MY pr continuation, $IMMU PR , $LRAD pr thin careful

Guess there were more than I thought 

Seeking Alpha

Today's Markets:
In Asia, Japan -6.3% to 12445. Hong Kong -2.2% to 20887. China -2.8%to 2148. India flat at 18827.
In Europe, at midday, London -1.1%. Paris -0.8%. Frankfurt -1.5%.
Futures at 7:00: Dow -0.2%. S&P -0.2%. Nasdaq -0.3%. Crude -0.3%to $95.61. Gold -0.5% to $1385.50.

Today's economic calendar:
8:30 Retail Sales
8:30 Initial Jobless Claims
8:30 Import/Export Prices
9:45 Bloomberg Consumer Comfort Index
10:00 Business Inventories
10:30 EIA Natural Gas Inventory
1:00 PM Results of $13B, 30-Year Note Auction
4:30 PM Money Supply
4:30 PM Fed Balance Sheet

Notable earnings after today's close: CASY

Briefing.com

Story Stocks®

07:49 ET Belo shares soar 26% following Gannett (GCI) acquisition for $13.75/share (BLC) : Gannett (GCI $21.78 +1.93) will acquire all outstanding shares of Belo (BLC $13.61 +2.88) for

07:46 ET Five Below shares spike 4% following beat on earnings (FIVE) : Five Below (FIVE $36.84 +1.41) reported first quarter earnings of $0.05 per share, versus the

Earlier today on Story Stocks: Safeway shares soar 24% following agreement to sell Canadian operations 07:45

>> For all of today's stories, go to Story Stocks

Up/Downgrades

Today's Upgrades:
Company	Ticker	Brokerage Firm
Gilead Sciences	GILD	Argus
Celgene	CELG	Argus
EMC	EMC	Pacific Crest
Union First Mkt Banc	UBSH	Raymond James
Fibria Celulose S.A.	FBR	Morgan Stanley
Adidas AG	ADDYY	JP Morgan
Hercules Offshore	HERO	Wells Fargo
Ares Capital	ARCC	Keefe Bruyette
BlackBerry	BBRY	Societe Generale

Today's Downgrades:
Company	Ticker	Brokerage Firm
Banco Bilbao Vizcaya Argentaria	BBVA	Keefe Bruyette
StellarOne	STEL	Raymond James
Randgold Resources	GOLD	Societe Generale
Banco Santander	SAN	JP Morgan
Cosi	COSI	ROTH Capital
Safeway	SWY	Citigroup
Waste Mgmt	WM	Goldman
Vantage Drilling	VTG	Wells Fargo
AngloGold	AU	Societe Generale
ASUSTeK	ASUUY	HSBC Securities

Good luck Trading today !!