Friday, January 10, 2014

Happy Friday

Good morning folks,
Yesterday was another mediocre day as I missed some really good trades in strong movers like $CNAT and $GALT. I was able to capture a few scalps here and there but the real home run hits evaded me.  We had a few members in the chat room that nailed the big movers and played them to perfection. 
The markets continue to struggle and now we are entering earnings season. This could be where the rubber meets the road. If earnings are strong for the majority of companies with strong guidance moving forward we may continue this bull run. If the majority of earnings miss expectations and companies lower guidance, then the market will have a correction and realign the valuations to reflect the slowing. 
Knowing we are entering earnings season you should be going through your swing positions and checking to see when they report. I typically do not hold through earnings unless I am extremely confident the earnings are going to crush. Even then, I will look at the recent performance of the stock and it its already run up into earnings I scale out just in case the earnings are already priced in. You can always buy back in or add back your position if the the stock continues to run. 


Morning movers and other stocks that caught my eye

$GALT continuation?, $STV china name decent daily pr, $BLDP pr , $IMMU pr last night, $RPTP pr hot daily, $SNTA pr 200 ma break , $ARIA holding up well, $NSPH pr 3 dolla holla?, $BDSI pr hot daily 6 dolla holla on deck, $GERN continuation, $RIGL pr up a lot already but worth watching, $OIBR active premarket may be ready to test that 200 day, $STEM pr  can be a pop and flopper so be careful, $KIN IPO pr last night thin float, $SCMP hot daily right sedtor, $FALC really like the daily
    

Seeking Alpha
Today's Markets:
In Asia, Japan +0.2% to 15912. Hong Kong +0.3% to 22846. China-0.7% to 2013. India -0.2% to 20758.
In Europe, at midday, London +0.9%. Paris +0.7%. Frankfurt +0.8%.
Futures at 6:20: Dow +0.3%. S&P +0.3%. Nasdaq +0.5%. Crude +1.1%to $92.63. Gold +0.3% to $1233.50.
Ten-year Treasury Yield -0.5 bps to 2.97%.
Today's economic calendar:
8:30 Nonfarm payrolls
10:00 Wholesale Trade
Notable earnings before today's open: INFY

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Good luck Trading today !!