Thursday, October 10, 2013

Things are looking up

                                              Well Lets not get carried away here.

 It does seem like we are going to have a bounce today. We still have a dysfunctional government and their is only speculation that we are going to work something out. Nothing surprises me anymore when it comes to our politicians so I will be ready for anything to happen on that front.

 Regardless I am seeing green this morning and it looks to me like we could have some great bounce plays this morning. Now, that doesn't mean I am loading up on swings and a bunch of long hold positions.
I plan to focus primarily on day trades and being out by the end of day.With the exception of some lotto shares if the price action is strong enough and I have enough profit in it to justify the hold.

I had a few decent trades yesterday in $VISN, $CERE and $URRE which was basically a flat trade. I may be a little more aggressive today in terms of position sizing if the market bounce is strong enough to warrant it while recognizing that one headline could take all the steam out of the market. 

Morning movers and other stocks that caught my eye 

$ACUR pr ,  $SIRI pr already swinging , looking to take out the4 dolla holla ,  $GRPN 50 day bounce, $CHTP pr last night possible bounce off price resistance, $ARWR has been a beast possible continuation?, $CUR continuation? , $LEE like the daily setup 3 dolla holla needs to fall, $VVUS filled the gap could bounce, $FSS HOT daily more of a swing though, $BLRX has held up very well through turmoil, $GERN 20ma bounce,  

“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

Seeking Alpha
Today's Markets:
In Asia, Japan +1.1% to 14195. Hong Kong -0.4% to 22951. China-0.9% to 2191. India +0.1% to 20273.
In Europe, at midday, London +1%. Paris +1.5%. Frankfurt +1.4%.
Futures at 6:20: Dow +0.75%. S&P +0.9%. Nasdaq +0.8%. Crude +0.3%to $101.92. Gold -0.6% to $1299.50.
Ten-year Treasury Yield 4 bps to 2.7%.
Notable earnings before today's open: LNNIGTEVAC
Notable earnings after today's close: MUSWYANGOOZRK
Good luck trading today !