Thursday, September 26, 2013

The key to success!



The market continues to struggle, however, I must say the only indexes that have had a fairly substantial move  are the Dow 30 and the SP-500. The Russell and the Nasdaq have actually been holding up fairly well. If the SP-500 can not hold its moving averages I would expect the NAS and the Russell will eventually follow. Look for 1670 to hold for the S&P I would not be surprised to see a bounce @ that level. What happens after that is anyone's guess. 

What we need to do is continue to find those quick trades and take advantage of the volatility. Reduce the size of out positions , book profits, limit swings, and keep losses small. Don't forget to break out your shopping list and start building that wish list. 

Yesterday I started off the day with a bang as one of my swings ($QTWW) that I bought in the 1.85 1.89 range had some pr and gapped up I sacled out some shares and continue to hold some . The day started off strong, I took a position in $ONTY and had to dump it for a loss. Then I tried to take a revenge trade>> It didn't cooperate so I sold it again lost a penny on that trade. Fortunately I hopped into $PACB after it was take off halt for the second time and BAM that made up for $ONTY and then some. Keep losses small and keep trying till you hit your winner take profits and be disciplined. 

It looks like we may get a bounce today since we are up in premarket however I will remain cautious and play what the market gives me. 
Morning movers and other stocks that caught my eye  
$DSCO like the daily and it looks active premarket, $WLT moving premarket , $BLDP pr  $IMMU trying again, $PRAN continuation? , $GALT love the daily for a bounce, $UEPS flaggin daily, $CYTK getting to an interesting level, $KERX continuation, $LYV daily looks good it tried yesterday, $ALSK daily looks hot, $AUDC continuation, $DGIT riding the 20 day, $IMMR bouncing off price resistance, $STRI needs to crack the 200 day with authority   

Sectors on watch 
Solars, Trucking, Medical equipment

“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
$VRNG, $ZIPR $BEAT, KIOR , $KIPO , $KTOS, $MGM,  $GEVO, $MNKD $KERX, $FU, $LLEN, $REE, $AVL, $MCP, $ACUR, $TASR, $MPEL, $SGYP, $NCIT, $HZNP, $COOL, $QTWW, $HBIO, $OPXA, $FCEL, $MNKD, $PIP, $APPY, $LLEN 


Seeking Alpha
Today's Markets:
In Asia, Japan +1.2% to 14799. Hong Kong -0.4% to 23125. China-1.9% to 2156. India +0.3% to 19953.
In Europe, at midday, London -0.1%. Paris -0.5%. Frankfurt -0.5%
Futures at 6:20: Dow +0.02%. S&P +0.02%. Nasdaq +0.1%. Crude+0.1% to $102.79. Gold +0.3% to $1337.91.
Ten-year Treasury Yield -2 bps to 2.62%.
Notable earnings before today's open: FGPMKC
Notable earnings after today's close: ACNNKETHO
Good luck trading today !!

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