One of my favorite movie motivational speeches, Its about football however its really about life and I think it works for trading as well. You have to keep fighting and collecting those inches, the small wins, not just the grand slams. If you can consistently collect small wins you will ultimately be very successful.
The market has been choppy and it looks like we are going to have a weak open again today. Yesterday I pulled out a positive day but it was not without its challenges I had a small loss in $CIMT and I was FLAT with $LLEN. Fortunately I had $OTIV as A swing and that provided a nice pop on the day. I took a day trade in $NURO which wound up being a decent enough winner to walk away for the day in the green.
If you watched my video this weekend I stressed how there are a lot of games played through earnings season. I talked about $PTX and the run it was having right into earnings. $YRCW is another example of that. If you bought either of them and held through earnings you are kicking yourself. If you are lucky enough to be in a stock that is running into earnings Lock in 90 percent of your profits. If you want to hold through earnings, make it a small amount of shares just to have some participation but not enough to erase the profits you have already booked.
Morning movers and other stocks that caught my eye
$NURO continuation, $OPTT like the daily , $FU earnings gapper don't chase, $QTWW earnings already have lottos in this but looking to add and take for a day trade, $PRMW earnings hot daily, $NWBO seems like something is going on over there , $EJ earnings look at $XIN as possible sympathy play
Seeking Alpha
Today's Markets:
In Asia, Japan -0.15% to 14567. Hong Kong -1.9% to 22463. China-1.8% to 2087. India -0.4% to 20194.
In Europe, at midday, London -1%. Paris -0.5%. Frankfurt -0.3%.
Futures at 6:20: Dow -0.2%. S&P -0.2%. Nasdaq -0.3%. Crude +0.3%to $93.33. Gold +0.35% to $1275.00.
Ten-year Treasury Yield -2 bps
In Asia, Japan -0.15% to 14567. Hong Kong -1.9% to 22463. China-1.8% to 2087. India -0.4% to 20194.
In Europe, at midday, London -1%. Paris -0.5%. Frankfurt -0.3%.
Futures at 6:20: Dow -0.2%. S&P -0.2%. Nasdaq -0.3%. Crude +0.3%to $93.33. Gold +0.35% to $1275.00.
Ten-year Treasury Yield -2 bps
Today's economic calendar:
7:00 MBA Mortgage Applications
1:00 PM Results of $24B, 10-Year Note Auction
2:00 PM Treasury Budget
7:00 PM Bernanke Press Conference
7:00 MBA Mortgage Applications
1:00 PM Results of $24B, 10-Year Note Auction
2:00 PM Treasury Budget
7:00 PM Bernanke Press Conference
Notable earnings after today's close: AFCE, ANW, CSCO, EGLE, KGC,MM, NTAP, NTES, PNNT, SEAS, TTEK, WGL, XONE
“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
$FXEN, $ZLCs, $YUME, $NURO, $SGOC, $TEAR, $TROV, $ARTX, $ICAD, $PTX, $GURE, $HZNP, $IDN, $PATH, $HALO, $ARNA, $CLNT, $BIOD, $OSUR, $SSH, $AMPE, $REFR, $EXAS, $CHTP, $PDLI, $CUR, $PRAN, $MITK, $CAK, $ZLC,
Good luck trading today !!
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