Just read a post by someone that I have known for quite a while that is making her way through the "trading for a living world" and unfortunately she hit a speed bump. She is fighting her way back after a fairly long losing streak with the help of a small group of like minded traders. She is on her way to having her first profitable week in awhile with the help of her buddies in a small chat group. I am glad she is still working towards her dream and I have confidence that she will be successful because of her passion, desire and persistence.
While the independence of this career is wonderful for the lone wolves out there like myself. It can also be a lonely and isolating career which can be extremely challenging when you are going through a losing streak. It reminds me of how important it is to have a strong support system and it never hurts to have a mentor or a few friends you can reach out to for some constructive criticism, a different point of view, or a guiding hand to help you get back on the path to success.
So I am back in the camp of caution the market is near some fairly significant resistance and yesterday it failed to break through. I thought FB and APPL might give us enough of a push. I expected consolidation after being up six days in a row. However, it seems as though we are losing steam and earnings do not appear to be providing the fuel we needed to march to knew highs. I will be taking smaller trade positions, limiting swings and probably more short biased with my trading until we get a clearer picture.
Morning movers and other stocks that caught my eye
RDNT pullback to 50 day PR may jump in again, VDSI continution?, LSCC earnings nice daily, WFT earnings active premarket,
GLD SLV TZA TVIX RWM on radar
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Lincoln Educational (LINC) - new article by Lord Baltimore »
Splunk (SPLK) -21.7% since Jan. 8 ZNCapital article »
Spirit Airlines (SAVE) +36% since Nov. 14 Helix Investment Research article »
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Today's Markets:
In Asia, Japan +0.2% to 14429. Hong Kong -1.5% to 22224. China -1% to 2037. India -0.8% to 22687.
In Europe, at midday, London -0.2%. Paris -0.2%. Frankfurt -0.9%.
Futures at 6:20: Dow -0.1%. S&P -0.1%. Nasdaq -0.15%. Crude -0.55% to $101.38. Gold +0.4% to $1295.90.
Ten-year Treasury Yield -1 bps to 2.67%.
Lincoln Educational (LINC) - new article by Lord Baltimore »
Splunk (SPLK) -21.7% since Jan. 8 ZNCapital article »
Spirit Airlines (SAVE) +36% since Nov. 14 Helix Investment Research article »
SA PRO subscribers get an early look at Top Ideas and access to the SA PRO research library. Learn about SA PRO »
Today's Markets:
In Asia, Japan +0.2% to 14429. Hong Kong -1.5% to 22224. China -1% to 2037. India -0.8% to 22687.
In Europe, at midday, London -0.2%. Paris -0.2%. Frankfurt -0.9%.
Futures at 6:20: Dow -0.1%. S&P -0.1%. Nasdaq -0.15%. Crude -0.55% to $101.38. Gold +0.4% to $1295.90.
Ten-year Treasury Yield -1 bps to 2.67%.
Notable earnings before today's open: AAN, ABBV, AEP, ALK, ALV, AON, B, BKW, CL, COV, CVLT, DAN, DTE, F,FLIR, HMC, IDXX, IMGN, LEA, LPNT, MCO, MDXG, SAIA, SIR, STT, TYC, VFC, VTR, WBC, WHR, WY
Best of Success!!
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