Tuesday, December 17, 2013

Let the games begin!


Good morning Folks, 
Yesterday was fairly uneventful for me from a day trading standpoint it was another one of those gap up days that I hate the follow through is just terrible most of your gains can be made in the first 30 minutes of the day if you can catch the right stock at the right price. I tried to nail $RVLT and I was too greedy with my entry target. nI missed the nice pop it had and had to watch it from the sidelines. I also tried $AGEN and wound up taking a small loss as my entry there was on the late side, I still could have scalped it for 13 cents but I got greedy and held the shares longer than I should have as the strength in the stock faded quickly. I took some shares in $LEDS with a sympathy play thinking it may play catch up to $RVLT  plus it had the whole dolla holla thing going on.  $LEDS effectively sat flat the entire day and I wound up making a huge whopping two cents on it. However, all was not lost $VMEM  wound up saving my day and becoming my hero. $VMEM is a recent IPO that is down 70 plus percent since going public. It was halted yesterday on news the board canned the CEO as in terminated. Apparently the street really like that news as the volume picked up and the stock began to rise after coming off the halt. I watched the action and after it firmed up I jumped in. It was kind enough to pop over the 3 dolla holla and give me a nice little return on the trade. 

The fed meeting begins today and the announcement doesn't hit till tomorrow but there should still be lots of games played between now and then. All the so called experts will be on TV sharing their insight on what is likely to happen and what the fed is doing wrong or right. Opinions will vary, scenarios will be all over the board as to where the economy is headed. None of it really matters because honestly nobody really knows.  As a trader you just need to play what is in front of you don't let all the noise interfere. 

 I still firmly believe that we are going to have a decent rally into the end of the year but anything can happen. Make sure you have a game plan for either outcome. 

Morning movers and other stocks that caught my eye
$ATHX pr 20 ma bounce,  $VRNG pr trendline break can be a pop and flopper, $BBRY pr continuation, $TKMR pr thin one, $RICK Pr earnings I want to say something so funny on this one but I am going to keep it to myself, $MBIS pr 20 ma bounce, $PMCS continuation, $INO and $CHTP both look like they are waiting on something, $BIOD pr looks like it could be breaking the short term downward trend off this news     

Seeking Alpha
Today's Markets:
In Asia, Japan +0.8% to 15279. Hong Kong -0.2% to 23069. China-0.45% to 2151. India -0.2% to 20612.
In Europe, at midday, London -0.3%. Paris -0.8%. Frankfurt -0.3%.
Futures at 6:20: Dow flat. S&P flat. Nasdaq flat. Crude -0.2% to $97.29. Gold -0.6% to $1237.
Ten-year Treasury Yield -1 bps to 2.87%
Notable earnings before today's open: FDSSAFM
Notable earnings after today's close: HEIJBLPAY

“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

$ICLD, $LEI, $CECE, $OGEN, $EVC, $ALJ,  $ETAK, $ARTX, $PGNX, $GERN, $GURE, $PME, TNXP, $GTN, CBET, $NIHD, $DVR, $MITK, $EBR. FCEL, LIQT, $LTS, $ENZN  $UQM, $DEPO, $NEO, $DSCO, $ADXS, $UIHC, $IDIX, $CYTK, $MNKD, $RSYS, $LOJN, $CBR, $AMCF, $BORN, $ICAD, $TRIT, $PRIS, $VISN, $AUXL, $CREG, $CRDS, $EGY, $QUIK, $GFIG, $ZHNE, $LRAD, $KNDI, $OPK, $MLNK  $SIRI, $MGM, $QTWW, $EXTR, $OTIV $OPXA $VNDA, $KIOR, $YRCW, $PLUG, $FCEL, $SGOC     
$ARWR $ARAY< $ETRM $IMMU $FREE,$CNDO, $CCIH, $GOMO, $BWEN, $ACST, $CAMT, $PRGN, $TNK, $PACB, $WPCS, $OMER, $IPCI, $DRYS, $UNIS, $VRNG, $QUIK
$S $AKS, $AXU, $CBR, $ESEA, $BALT $RVLT $CTCT

Starting something new
 I will be doing videos for Swing positions both current and for stocks that are on my radar. These are often higher priced stocks with really sweet looking setups. These videos will be posted each weekend in @Noanettraders "trader education for members." Noanet is an excellent trader and he has a fantastic service where you can sign up for a free 5 day trial. If you haven't already, go by and check it out and this is where you will find my swing videos. http://www.noanettrader.com/
Good luck Trading today !!

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