Wednesday, September 4, 2013

Patience !


Good morning folks, 
Yesterday I was off my game and of the 5 day trades I took I lost on every one of them. They were not big losses bot they were losses all the same. 

This Syria stuff is really weighing on the market I was doing fine right up until Boehner announced he was backing the POTUS on some sort of military action and the market did an about face. I just decided to sit it out on the sidelines for the rest of the day. I was clearly off and saw no reason to try and force another trade. 

There are still some decent setups out there but the follow through has been horrendous. The market needs to decide which way we are going and commit. Once that happens and we have a clearer picture of either bull or bear it will be easier to place some trades with conviction. Yesterday would have been a good day to play some fades right off the open if you are short biased." Patience" is the word of the day and that is my plan moving forward. 

Morning movers and stocks that caught my eye

$MVIS pr needs to get over the 50 day, $RMTI pr bounced off 20 day , $ZLCS, $$INSY flaggin, $SGMO like the daily, $MAKO like the daily, $EGHT continuation?, $ETFC PR bounced off 50,  day, $STXS pr, $PRAN continuation   $BDSI pr a little extended on the daily , $MU pr daily not bad,  $HIMX back over 20 day, $HALO continuation, 

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.
$RSH, $EXTR,$BDBD $BONE $BEAT, $DSS, $FCEL, GALE, $MHR, $NVAX, $ARAY, $SONS, $CTIC, $SGYP, $IRWD, $LEE,$BBRY,$DEPO, $MITK, $RKUS, $MGM,$OPX, $GALT,$ANFI, $SWHC, $TASR,$TRQ, $FST,$MEET, $RAD,$AVEO, $KNDI, $PGH, $SQNM, $CERS, $MPEL, $CAMP, $GTAT, $CNDO, $ZHNE, 

Seeking Alpha
Today's Markets:
In Asia, Japan +0.5% to 14054. Hong Kong -0.3% to 22326. China+0.2% to 2128. India +1.8% to 18568.
In Europe, at midday, London -0.6%. Paris -0.9%. Frankfurt -0.7%.
Futures at 6:20: Dow -0.2%. S&P -0.1%. Nasdaq -0.1%. Crude -0.7%to $107.75. Gold -0.5% to $1405.20.
Notable earnings before today's open: CIENDGFRANNAVSAI,VRNT
Notable earnings after today's close: BVDDCFCELMIND
Good luck trading today !!

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