The morning started out strong yesterday but the wound up chopping around for the remainder of the day. Follow through was difficult to come by. I had a few small scalp trades in PLUG ASTM OCLR with 2 wins and one loss out of the three. I also took a starter swing position in OCLR.
One thing I have learned on my journey to being a day trader is that pride can be a killer. Back when I first started I wanted every trade I took to be a winner. I HATE being wrong! It's a pride thing and its something I had to get over quickly. Pride kept me in positions to long and it was pride that gave me some of my largest losses.
Being humbled is inevitable for anyone that chooses to make this their career.
The market has a way of showing us how wrong we can be. It's not personal its just how the market works. The market does't know us, doesn't care about our feelings. The odds are you will be wrong more than you are right when it comes to day trading. One of the best things you can do is admit you were wrong, take the loss quickly and move on to the next trade. Don't let your pride get in the way of executing your risk reward plan.
Morning movers and other stocks that caught my eye
UCTT gapper, CYTK pr continuation??, PGNX pr potential bounce play, MHR pr> potential trrendline break, PPHM looking for confirmation and volume, MTG earnings decent daily, CUR seeking alpha article 4 dolla roll continuation? , AVNW potential continuation needs to take out the 50 day, MOBI 8 dolla holla continuation?
IBB gettin some love, lots of compelling activity in the space could be good for the sector short term
Seeking Alpha
Today's Markets:
In Asia, Japan -0.8% to 14389. Hong Kong -0.1% to 22731. China +0.3% to 2073. India flat at 22758.
In Europe, at midday, London +1%. Paris +0.9%. Frankfurt +1.2%.
Futures at 6:20: Dow flat. S&P flat. Nasdaq +0.1%. Crude -0.3% to $104.03. Gold -0.2% to $1290.90.
Ten-year Treasury Yield -1 bps to 2.71%.
In Asia, Japan -0.8% to 14389. Hong Kong -0.1% to 22731. China +0.3% to 2073. India flat at 22758.
In Europe, at midday, London +1%. Paris +0.9%. Frankfurt +1.2%.
Futures at 6:20: Dow flat. S&P flat. Nasdaq +0.1%. Crude -0.3% to $104.03. Gold -0.2% to $1290.90.
Ten-year Treasury Yield -1 bps to 2.71%.
Today's economic calendar:
7:45 ICSC Retail Store Sales
8:55 Redbook Chain Store Sales
9:00 FHFA House Price Index
10:00 Existing Home Sales
10:00 Richmond Fed Mfg.
1:00 PM Results of $32B, 2-Year Note Auction
7:45 ICSC Retail Store Sales
8:55 Redbook Chain Store Sales
9:00 FHFA House Price Index
10:00 Existing Home Sales
10:00 Richmond Fed Mfg.
1:00 PM Results of $32B, 2-Year Note Auction
Notable earnings before today's open: ACI, AKS, AOS, ATI, BK, CMCSA,CNC, CP, CSL, FMER, GPC, HOG, HUB.B, IPG, ITW, JNS, LMT, LPT, LXK, MCD,MDSO, MTG, OMC, PCH, PHG, PLD, PNR, RF, SAH, SNV, SPG, TCB, TRV, UTX,XRX
Notable earnings after today's close: ACC, AMGN, BCR, CBST, CNI, CREE,CVA, CYT, DFS, ETH, FBC, FTI, FULT, GILD, HA, HLIT, HTS, IEX, IGT, ILMN,IRBT, ISRG, JNPR, MANH, MSA, NBR, PKG, SANM, SKX, SMCI, SWKS, T, TMK,TSS, UIS, VASC, VMI, VMW, WRB, WWD, XOOM, YUM, ZIXI
Best of Success!!
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