That made me a little gun shy and I spent the rest of the day trimming up a few swing positions. It just seemed like I was off yesterday I would see stocks moving but I felt I was catching them late and because it was such a choppy day I just decided to sit on my hands and watch.
Like a lot of others out there, I feel like the markets are tired and that the path of least resistance at least in the short term may be down. The positive thing about that is it would reset the tape and give us some really good setups.
With earnings season upon us there are still opportunities out there to play >> do not chase them. Wait for the right setup before jumping in and most important of all>> PROTECT YOUR CAPITAL! If possible, try to limit your loss to no more than 1% on a trade and if you are off your game realize there is no shame in sitting on your hands. That requires discipline and can often be the best move you make.
Morning movers on other stocks that caught my eye
$ZGNX still on my radar, $ACFN continuation? $ARIA continuation?, $GURE continuation?, $ONP earnings play china careful, $NQ bounce play china careful, $FU hot daily potential china bounce play, $ABIO pr decent daily, $NTRI earnings beat, $USAT pr continuation?,
“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
$TASR, $ARWR,$AUDC, $AXAS, $BCOV, $BONE, $WYY , $CETV, $CLNT,$CYCC, $CYTK, $DSCO, $DVAX, $ECTE, $ETRM, $HTCH, $IMMU, $LFVN, $LIOX, $LYV, $MACK, $ONP, $OPK, $OTIV, $OPTT, $PRAN, $PRTS, $CLF, $STXS, $TRQ, $ZHNE,$NVGN, $BSPM, $ELY, $QLGC, $COCO, $ADEP, $ITI, $LRAD, $NCS, $CECO $MLNK, $MEET
Seeking Alpha
Today's Markets:
In Asia, Japan -0.5% to 14326. Hong Kong +0.2% to 22847. China-0.2% to 2129. India +1.7% to 20929.
In Europe, at midday, London +0.3%. Paris +0.3%. Frankfurt flat.
Futures at 6:20: Dow flat. S&P flat. Nasdaq -0.1%. Crude -0.3% to $98.32. Gold -0.5% to $1345.50.
Ten-year Treasury Yield -2 bps to 2.51%.
In Asia, Japan -0.5% to 14326. Hong Kong +0.2% to 22847. China-0.2% to 2129. India +1.7% to 20929.
In Europe, at midday, London +0.3%. Paris +0.3%. Frankfurt flat.
Futures at 6:20: Dow flat. S&P flat. Nasdaq -0.1%. Crude -0.3% to $98.32. Gold -0.5% to $1345.50.
Ten-year Treasury Yield -2 bps to 2.51%.
Today's economic calendar:
FOMC meeting begins
7:45 ICSC Retail Store Sales
8:30 Producer Price Index
8:30 Retail Sales
8:55 Redbook Chain Store Sales
9:00 S&P Case-Shiller Home Price Index
10:00 Consumer Confidence
10:00 State Street Investor Confidence Index
1:00 PM Results of $35B, 5-Year Note Auction
FOMC meeting begins
7:45 ICSC Retail Store Sales
8:30 Producer Price Index
8:30 Retail Sales
8:55 Redbook Chain Store Sales
9:00 S&P Case-Shiller Home Price Index
10:00 Consumer Confidence
10:00 State Street Investor Confidence Index
1:00 PM Results of $35B, 5-Year Note Auction
Notable earnings before today's open: ACI, ACT, AET, AGCO, AGN,ALLT, ALR, AME, AMTD, APD, BP, CIE, CMI, CRS, CRY, CVLT, CYNO, DAN,DDD, DIN, ECL, ETR, EXAS, FDP, FIS,FLWS, GOV, GT, HCP, HRS, HUN,ICON, IIVI, IVR, JBLU, JCI, LLL, LYB, MDC, MSO, MWV, NGD, NOK, OXY,PAG, PBI, PCAR, PFE, RTIX, SCHN,SNH, ST, SUI, TECH, TRI, TRW, TWI,UBS, UDR, UTHR, VLO, VSH, WM, X, XRAY, XYL
Notable earnings after today's close: ACMP, AFG, AFL, AJG, AMP,AUY, BGFV, BIDU, BWLD, BXP, CACI, CALX, CAP, CBG, CBI, CBT, CEMP,CLD, CRL, CRUS, CVD, CZR, DLB, DLR, DWA,EA, EIX, ENTR, FEIC, FISV,FLEX, GILD, GNW, GPRE, HTS, IACI, INVN, KIM, LNKD, LOCK, LOPE, MOVE,MWA, MX, NANO, NBIX, NUVA, PRXL, QCOR, QGEN,RBCN, RPXC, RRC, RYL,SFLY, SIMG, SKT, SM, SONS, SWI, TGI, TRLA, TTWO, UHS, ULTI, VPRT,VRTX, WBMD, WNC, WSH, WU, XCO, XXIA, YELP
Good luck trading today !!
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