However, I prefer to kick back, put my feet up and enjoy the ride while it continues in the direction of its overall trend. Markets can continue to do what you least expect them to do for much longer than you can anticipate and in this current trend it pays to have some swings in your portfolio. It can be tough to day trade on days like today where the market gaps up. As a matter of fact, gap up days are my least favorite days to trade. Everyone wants to catch the reversal or the top in the markets so the gap up days can often fade or just churn sideways. That is where swings come in handy. One of things I like to do is sell some shares into that gap up strength.
I see no compelling reason for us to have a big reversal in the markets, but that doesn't mean things can't change in the blink of an eye. So it only makes sense to take profits when they are there and reduce your exposure in case the markets do turn. Earnings season is upon us and that makes swings even more challenging. There is a lot of tricky stuff that can occur in earnings season. I usually do not like to hold through earnings unless It is in my IRA and its long term hold. Even then, if there is a spike in price just prior to their report I will book profit in at least half my position. Often times, earnings will be reported and they will either be a miss or the earnings were already priced in and the stock will pull back on what seems to be a good report. I don't worry about missing a big run if the company crushes it in their earnings report. I still hold some shares and I can always wait for it to setup again on the daily to add shares if I desire to do so.
Gold and silver stocks seem to be getting some love this morning
Morning movers and other stocks that caught my eye
$AMD off video watch caught an upgrade, $EGLE like the daily, $VVTV looks ready to break out, $BDSM trying to break out on the daily, $MM nice daily, $RMTI pr big gapper Be careful don't chase the open, $CYTK continuation?, $RPTP, $PRAN pr bull flag daily, $SONS bounced off 50 day, $DRWI pr earnings beat thin don't chase , $HXM looks like it has found a bottom, $AXU like the daily riding the 20day, $BCOV riding 200 day wants nine dolla holla , $BV tricky one looking for continuation, $REE continuation, $ASTX continuation, $TASR, $DSS may be ready to bounce, TRX nice bull flag testing moving averages , $RVLT pr 4 dolla holla , $AMBI recent IPO big gapper $BCRX pr FYI devil stock for me $HILL pr raised guidance daily a little extended
Seeking Alpha
Today's Markets:
In Asia, Japan +0.4% to 14473. Hong Kong +2.5% to 21437. China +3.2% to 2073. India +1.9%.
In Europe, at midday, London +0.8%. Paris +0.7%. Frankfurt +1.1%.
Futures at 6:10: Dow +0.9%. S&P +1%. Nasdaq +0.9%. Crude -0.5% to $105.95. Gold +2.8% to $1281.90.
In Asia, Japan +0.4% to 14473. Hong Kong +2.5% to 21437. China +3.2% to 2073. India +1.9%.
In Europe, at midday, London +0.8%. Paris +0.7%. Frankfurt +1.1%.
Futures at 6:10: Dow +0.9%. S&P +1%. Nasdaq +0.9%. Crude -0.5% to $105.95. Gold +2.8% to $1281.90.
Today's economic calendar:
Chain Store Sales
8:30 Initial Jobless Claims
8:30 Import/Export Prices
9:45 Bloomberg Consumer Comfort Index
10:30 EIA Natural Gas Inventory
1:00 PM Results of $13B, 30-Year Note Auction
2:00 PM Treasury Budget
4:30 PM Money Supply
4:30 PM Fed Balance Sheet
Chain Store Sales
8:30 Initial Jobless Claims
8:30 Import/Export Prices
9:45 Bloomberg Consumer Comfort Index
10:30 EIA Natural Gas Inventory
1:00 PM Results of $13B, 30-Year Note Auction
2:00 PM Treasury Budget
4:30 PM Money Supply
4:30 PM Fed Balance Sheet
Notable earnings before today's open: PGR
Notable earnings after today's close: PPHM
Briefing.com
| Page One | |
| 08:59 ET Bernanke Provides Policy Euphoria Hit to Market (Again): The FOMC Minutes for the June 18-19 meeting were anti-climactic as we thought they could be since | |
| >> Go to full Page One | |
| |
| Story Stocks® | |
| 08:51 ET Increase in Initial Claims Likely Due to Seasonal Adjustment Issues: The initial claims level rose from an upwardly revised 344,000 (from 343,000) for the week ending | |
| 07:48 ET Dragonwire shares spike 16% following better than expected earnings (DRWI) : DragonWave (DRWI $3.10 +0.43) reported first quarter GAAP loss of $0.17 per share, which was better | |
| Earlier today on Story Stocks: Rockwell Medical shares soar 38% following news that SFP has met its primary endpoint (RMTI) 07:45 | |
| >> For all of today's stories, go to Story Stocks | |
| |
| Up/Downgrades |
| Today's Upgrades: | ||
| Company | Ticker | Brokerage Firm |
| Advanced Micro | AMD | Canaccord Genuity |
| Alcatel-Lucent | ALU | Goldman |
| KB Home | KBH | CRT Capital |
| Viacom | VIAB | Bernstein |
| Brown & Brown | BRO | Wells Fargo |
| ADTRAN | ADTN | Goldman |
| Wisconsin Energy | WEC | Atlantic Equities |
| MFA Mortgage | MFA | Evercore |
| Hess | HES | JP Morgan |
| Advanced Micro | AMD | BofA/Merrill |
| Lamar Advertising | LAMR | Citigroup |
| Finisar | FNSR | Needham |
| Telekom Austria | TKAGY | Goldman |
| Linear Tech | LLTC | Jefferies |
| Analog Devices | ADI | Jefferies |
| Today's Downgrades: | ||
| Company | Ticker | Brokerage Firm |
| Berkshire Hills Bancorp | BHLB | Sandler O'Neill |
| Health Management | HMA | Credit Suisse |
| Union Pacific | UNP | Raymond James |
| Hatteras Financial | HTS | Evercore |
| Wynn Resorts | WYNN | Morgan Stanley |
| Cliffs Natural Resources | CLF | CIBC Wrld Mkts |
| Lender Processing | LPS | Oppenheimer |
| Invesco Mortgage Capital | IVR | BofA/Merrill |
| ARMOUR Residential REIT | ARR | BofA/Merrill |
| Cypress Sharpridge Investments | CYS | BofA/Merrill |
| Hatteras Financial | HTS | BofA/Merrill |
| AG Mortgage Investment Trust | MITT | BofA/Merrill |
| Annaly Capital Mgmt | NLY | BofA/Merrill |
| Mistras Group | MG | BofA/Merrill |
| American Capital Agency | AGNC | Evercore |
| Inphi | IPHI | Jefferies |
| ON Semiconductor | ONNN | Jefferies |
| Arkansas Best | ABFS | Citigroup |
| Sprint | S | Citigroup |
| Avago Tech | AVGO | Jefferies |
Good luck trading today !!
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