Good morning folks,
Yesterday the markets got the best of me. If you watched my video I thought we would get a bounce this week but I expected it to be with more intensity. The follow through was relatively weak and there was quite a bit of chop going on out there. I took only two trades and both were small losers. There were opportunities out there but unfortunately I missed them. My timing was off and I was focused on the wrong areas. I could have nailed TVIX GDP RDNT and a few others but I was involved with FCEL and ZN. Because of the choppy action by the time I saw something moving I had no confidences that the move would be able to sustain itself and I had already missed the ideal entry. Back in the day I would have been jumping in anyway thinking I could scalp a few more cents. Today I am focused on protecting my capital and if the entry isn't ideal>> I pass and sit on my hands.
The market is in a very critical area In my opinion and another day or two of chop may be in store. My opinion has not changed on the direction we are ultimately heading and with that being said I remain extremely cautious. Stay focused and take smaller positions when you trade this is no time to try and be a hero.
Morning movers and other stocks that caught my eye
WAVX pr already a long term hold like it for a turn around story like the daily, TASR pr potential bounce area like it more for a swing, ENOC pr decent daily, HALO active premarket bounce play?, HPJ bounce off pr,
Gold and silver miners appear to be taking it on the chin this morning
I will be watching the markets and looking to play ETF or ETN' s TZA TVIX TNA UVXY depending on market direction
Seeking Alpha
Top Ideas
Kodiak Oil & Gas (KOG) - new article by Richard Zeits »
1347 Property Insurance Holdings (PIH) - new article by Alpha Gen Capital »
Nevada Copper (OTC:NEVDF) +30% since Mar. 25 Itinerant article »
Supreme Industries (STS) +42.8% since Nov. 12 BuyTheDip SellTheRip 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 +0.6% to 13997. Hong Kong -1.6% to 22671. China -1.4% to 2102. India -0.6% to 22483.
In Europe, at midday, London -0.5%. Paris -0.5%. Frankfurt -1.0%.
Futures at 6:20: Dow -0.1%. S&P -0.1%. Nasdaq -0.1%. Crude -0.5% to $103.21. Gold -1.2% to $1311.63.
Ten-year Treasury Yield + 1bps to 2.63%.
Kodiak Oil & Gas (KOG) - new article by Richard Zeits »
1347 Property Insurance Holdings (PIH) - new article by Alpha Gen Capital »
Nevada Copper (OTC:NEVDF) +30% since Mar. 25 Itinerant article »
Supreme Industries (STS) +42.8% since Nov. 12 BuyTheDip SellTheRip 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 +0.6% to 13997. Hong Kong -1.6% to 22671. China -1.4% to 2102. India -0.6% to 22483.
In Europe, at midday, London -0.5%. Paris -0.5%. Frankfurt -1.0%.
Futures at 6:20: Dow -0.1%. S&P -0.1%. Nasdaq -0.1%. Crude -0.5% to $103.21. Gold -1.2% to $1311.63.
Ten-year Treasury Yield + 1bps to 2.63%.
Today's economic calendar:
7:45 ICSC Retail Store Sales
8:30 Consumer Price Index
8:30 Empire State Mfg Survey
8:55 Redbook Chain Store Sales
9:00 Treasury International Capital
10:00 Business Inventories
10:00 NAHB Housing Market Index
Best of Success !!
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