Thank you sir may I have another |
I sold my nibble in $BIOL it got CRUSHED! Took a trade in $MNKD sold it for a 5 cent loss and really had no traction in any of the stocks I was in $ASTX $RMTI $PRMW . I even jumped in $PTIX and $MTL just to watch them both hit a brick wall. The market is certainly sending me signals that we are in distribution territory and since September is usually the worst month for the market using history as a guide I am being much more cautious and less patient with stocks> if it ain't working I am bailing. Reducing swings and building cash. I am also paying more attention to some short ETF's for possible day trades like $TZA $TVIX $UVXY. There are a lot of thin float pumped stocks from china that are on the move for a quick jump but be cautious of those and DO NOT CHASE. You don't want to be the last one holding the bag. If you catch them early great, just make sure you are out by the end of day BOOK PROFIT!! For the record I took half of $PTIX all of $AXAS $PRMW and $MTL and half of $RMTI home with me.
I can't say the day totally sucked $PTIX was nice and my $AUDC and $TASR swings did fairly well. $SKBI was a big winner for the day china name got in 2.69 got out 4.10.
Here is today's video watch list
http://www.screencast.com/t/pD7CsL0SHUE5
Today's carry overs
“Carry overs” are stocks that I have featured in prior videos,
have on my alert list or tagged on my morning mover lists that still have a
potential setup working or developing on the chart that may be actionable. They
are still on my radar and I am either already in with a swing or I am looking
to enter on a breakout. I am also looking for the setup to breakdown at which
point it will discard it from my hot watch list. If I am already in it with a
swing I am looking for a place to scale out or exit the trade and on rare
occasions I may be adding to my position. Typically I like to sell into
strength.
$WLT,$SGMO,$ANVR,$SUPN,ZIOP,$KERX,$IMMU,$RMTI,$PTIX,$OTIV $PRMW, $TASR,$AUDC,$BEAT,$MTL,$BCOV, $DRWI, $DSCO,$EMMS, $EXTR, $ISR
Morning movers and others that caught my eye
$NVAX upgrade, $SPEX pr thin >pumped be careful, $MTSL earnings thin careful, $INO monkeys responded well to one of their vaccines long way from making money be careful, $XGTI thin china IPO another one to be careful on , $STXS thin bouncing looks like, $HALO pr could be bouncing,$NEON SA article , $GURE lawsuit settlement already up last several days so careful
Not a lot of quality in those names so tread lightly if you play the consider reducing the size of your positions.
Seeking Alpha
Today's Markets:
In Asia, Japan -2.1% to 13753. Hong Kong flat at 22539. China -0.9% to 2082. India closed.
In Europe, at midday, London -0.5%. Paris -0.3%. Frankfurt -0.5%.
Futures at 6:20: Dow -0.2%. S&P -0.2%. Nasdaq -0.4%. Crude +0.8%to $107.75. Gold +0.4% to $1339.20.
In Asia, Japan -2.1% to 13753. Hong Kong flat at 22539. China -0.9% to 2082. India closed.
In Europe, at midday, London -0.5%. Paris -0.3%. Frankfurt -0.5%.
Futures at 6:20: Dow -0.2%. S&P -0.2%. Nasdaq -0.4%. Crude +0.8%to $107.75. Gold +0.4% to $1339.20.
Today's economic calendar:
8:15 James Bullard: Economic and Monetary Policy
8:30 Consumer Price Index
8:30 Empire State Mfg Survey
8:30 Initial Jobless Claims
9:00 Treasury International Capital
9:15 Industrial Production
9:45 Bloomberg Consumer Comfort Index
10:00 NAHB Housing Market Index
10:00 E-Commerce Retail Sales
10:00 Philly Fed Business Outlook
10:30 EIA Natural Gas Inventory
4:30 PM Money Supply
4:30 PM Fed Balance Sheet
8:15 James Bullard: Economic and Monetary Policy
8:30 Consumer Price Index
8:30 Empire State Mfg Survey
8:30 Initial Jobless Claims
9:00 Treasury International Capital
9:15 Industrial Production
9:45 Bloomberg Consumer Comfort Index
10:00 NAHB Housing Market Index
10:00 E-Commerce Retail Sales
10:00 Philly Fed Business Outlook
10:30 EIA Natural Gas Inventory
4:30 PM Money Supply
4:30 PM Fed Balance Sheet
Good luck treading today !
Something wicked this way comes?
ReplyDeletePerhaps too dramatic, but definitely an unsettling position for the moment.
Thanks for the blog.
Barry/Fungible