Tuesday, October 8, 2013

Entering some dangerous territiory!

Wouldn't it be nice if we could just throw Congress off the fiscal cliff, or some sort of cliff somewhere!

I had a decent day yesterday taking day trades in $CTIC and $APRI and $CRME. I scaledout more of my swing positions and built cash as the markets took out a couple areas of support that give me concern. The $IBB $RUT-X  $XLF $XHB $Nasdaq and the Sp-500 all closed at levels that served as a warning flag for me. It looks like at least in the near term we will experience more weakness. Thanks to our wonderfully dysfunctional government. Be cautious out there and don't be afraid to book profits. Keep you positions sizes smaller and cut losses quickly. 

Morning movers and other stocks that caught my eye
$AGEN pr , $CBMX pr pop and flopper be careful, $TWGP possible squeeze play but be quick, $JCP pr Squeeze play, $MEET daily gettin interesting, $BLRX movin premarket, $SCMP pr testin all its moving averages, $DSCO pr, $ETRM active premarket PT raise , $PLUG earnings, $KERX PR 20 day bounce, $NAVB pr after the close yesterday possible snap back play  

“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

Good luck trading today !!!!!