Wednesday, August 14, 2013

Today was about as much fun as !!

Thank you sir may I have another 
 The day started like this, and that's what it felt like for me! The bears just kicked me right where it hurts.

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.
Notable earnings before today's open: BGGDANGELKSSPAAS,PRGORRGBSOLWMT
Notable earnings after today's close: AMATBYIJWN
Good luck treading today !

1 comment:

  1. Something wicked this way comes?

    Perhaps too dramatic, but definitely an unsettling position for the moment.

    Thanks for the blog.

    Barry/Fungible

    ReplyDelete