Tuesday, December 3, 2013

Off to a good start


Yesterday was a very good start to what could have been a very challenging day. As I have said many times before it only takes one really good trade to make your entire week. $BOSC was that stock for me. Fortunately my plan for the trade worked out nearly to perfection. I waited for my ideal entry. I had my risk reward all mapped out, I knew where I wanted to exit for my first target as well as my second. I held some lottos the entire day taking my final profits near the close.

 The markets struggled early and wound up closing in the red. If you were long biased there were several stocks that failed to follow through after their break out. In choppy markets like this and if you are new to trading its prudent to reduce your position sizes. If you take a trade and you feel overwhelmed with anxiety then you are probably trading to large of a position. You don't need to hit a home run on every trade. Its more important that you take singles and doubles consistently. 
When you reduce your position size you tend to have more patience, you don't panic and you allow the trade to develop. 

Morning movers and other stocks that caught my eye

$UNIS pr getting thinking it wants the 5 dolla holla, $ETRM pr nice flag on the daily, $OMED up big premarket off pr, $IMUC pr decent flag on the daily, $GURE continuation? , $CNAT pr, $ENVI pr 3 dolla holla  

Seeking Alpha
Today's Markets:
In Asia, Japan +0.6% to 15750. Hong Kong -0.5% to 23910. China +0.7% to 2223. India-0.2% to 20855.
In Europe, at midday, London -0.8%. Paris -1.6%. Frankfurt -1.1%.
Futures at 6:20: Dow -0.35%. S&P -0.3%. Nasdaq -0.1%. Crude +0.3% to $94.07. Gold-0.2% to $1219.70.
Ten-year Treasury Yield flat at 2.8%.
Today's economic calendar:
Auto sales
7:45 ICSC Retail Store Sales
8:55 Redbook Chain Store Sales
Notable earnings before today's open: BMOLTXC
Notable earnings after today's close: BOBEGBDCGWREOVTIUNFI

“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

  $ZLTQ, $USU, $DRRX, $MERU, $IDRA, $STXS, OFIX, $OVRL, LIOX, $MPAA, PRTS,$SBOTF, $OMCL, $BBRY, $AMPE, $ONCY, $HZO, $ATRM, $PVG, $PTIX, $GST, $GRO, $ROX, $PACB, $ZGNX, $KGJI, $RNA, $OESX, $SFXE, $TGS, 

 $SVU, $QTWW, $UNIS, $SCON, $DXLG, $ROSG, $GALE, $KNDI, $NAVB. $IMMU,$CTYR, $NBY, $GPT, $GEVO, $DVAX, $ALDW, $MEA, $CERS, $VRNG, URRE, $PRAN, MHR, $ETAK,$TASR, $IMMU $EXTR, $ONVO, $TASR, $ARIA $IRDM $CHTP $TROV 


Potential swings and recent starters

$JBLU, RAD, $SIRI, $AMD, $HLS, $ASX, $ALU, $NOK, $CGEN, $FSS, $SMCI, CY, $GRPN $MGM, $MNKD
$ARWR $MITK $CUR

Good luck trading today 

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