Yesterday was another very selective day where I only took a couple trades one fairly decent but disappointing trade in $BEAT of their earnings. I sold the first half for a nice hit but wound up having to sell the last half flat as it just couldn't seem to get its mojo going. The second was a very fast trade in $OXGN as I nailed it mid day when it was getting ready to test its hod. I was in and out of the trade in less than 15 minutes and it was a real nice hit. I also scaled out some of my swings in $PRTS and $LEE taking some of the table into strength. On the flip side I started a little swing in $OMEX which is currently down from where I bought it, it was a starter and I am looking to add on weakness. Its a completely different style from day trading and I am not worried about the 5 minute, 30 minute or hourly movement in the stock.
The market is still quite choppy and that makes day trading somewhat challenging. In times like these patience can give you a big advantage and keep you from over trading. The Russell 2000, and the $IBB are under quite a bit of pressure and the Vix is extremely low. It seems that the challenging times may continue. My strategy is to focus on finding one or two quality setups take my shot and book my profits quickly.
With the news out of Europe it looks like we are going to gap up. This is one of my least favorite environments to trade in. Gap up days are almost always very challenging for me.
Today could be interesting with the twitter IPO.
Since I feel as though it will be challenging to get into TWTR at a reasonable price my strategy will be to look for opportunities in sympathy plays in the social media arena. $MEET, $LPSN , $SOCL and the like.
Morning movers and other stocks on my radar
$LPSN earnings, $ONVO active premarket, $WSTL earnings nice daily thin one, $UNXL active premarket earnings tonight I think, $NURO very thin float active premarket lots of eyes on this one which can be good or bad, $AGEN pr ugly daily though,
“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
Today's Markets:
In Asia, Japan -0.8% to 14228. Hong Kong -0.7% to 22881. China -0.5%to 2129. India -0.35% to 20823.
In Europe, at midday, London -0.2%. Paris -0.1%. Frankfurt flat.
Futures at 6:20: Dow -0.1%. S&P -0.15%. Nasdaq -0.2%. Crude +0.2%to $95.02. Gold -0.2% to $1315.20.
Ten-year Treasury Yield flat at 2.64%.
In Asia, Japan -0.8% to 14228. Hong Kong -0.7% to 22881. China -0.5%to 2129. India -0.35% to 20823.
In Europe, at midday, London -0.2%. Paris -0.1%. Frankfurt flat.
Futures at 6:20: Dow -0.1%. S&P -0.15%. Nasdaq -0.2%. Crude +0.2%to $95.02. Gold -0.2% to $1315.20.
Ten-year Treasury Yield flat at 2.64%.
Today's economic calendar:
Chain Store Sales
8:30 Initial Jobless Claims
8:30 GDP Q3
9:45 Bloomberg Consumer Comfort Index
10:30 EIA Natural Gas Inventory
3:00 PM Consumer Credit
4:30 PM Money Supply
4:30 PM Fed Balance Sheet
Chain Store Sales
8:30 Initial Jobless Claims
8:30 GDP Q3
9:45 Bloomberg Consumer Comfort Index
10:30 EIA Natural Gas Inventory
3:00 PM Consumer Credit
4:30 PM Money Supply
4:30 PM Fed Balance Sheet
Notable earnings before today's open: AAWW, AEE, AES, AMCX,AMRC, AMSC, ANSS, APA, APO, ARQL, ATK, BCE, BDBD, BKCC, BR, BZH,CBB, CCO, CMLP, CNK, CNQ, CNSL, COTY, CPN, CQB, DYN, EOG, FCN,FLO, FLY, FNP, FSYS, FUN, FUR, FWLT, FWM, GLP, GOLD, GTN, HII, HNT,IGT, IRC, IT, JRCC, KIOR, KLIC, LNT, LRN, MFC, MLM, MT, MWIV, MWW,NVAX, NWN, NXTM, RDN, RGEN, RGLD, ROK, SFUN, SMG, SNI, SSYS,STWD, THI, TICC, TK, TTI, TW, USAC, VC, VNDA, VTG, WEN, WIN, WLK,WMC, WWAV
Notable earnings after today's close: ADES, ADUS, AIRM, AL, ALJ,ANAC, ARAY, AREX, ARNA, ATLS, ATW, AUQ, AVG, BCEI, BEBE, BIO,BNNY, BPZ, CFN, CLNE, CUBE, DAR, DIS, DMD, EAC, EBS, ECPG, ELON,ENOC, EZPW, FEYE, FF, FUEL, FXEN, GERN, GRPN, GXP, HTGC, IL, KRO,KTOS, LCI, LFVN, MCP, MDRX, MITK, MNST, MNTX, MSCC, NES, NFG,NKTR, NOG, NVDA, OCLR, OLED, PCLN, PEGA, PODD, RNDY, SF, SGMS,SLXP, SNTS, SQNM, SWIR, TSRO, TUMI, UBNT, UNXL, VVC, WIFI, WR,WTR, XNPT, XTEX, YRCW
Good luck trading today !!
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