So it was just your average 10000 point swing up and down in the Dow this week. Volatility is back and in a big way creating one of the best short term trading environments we have seen in quite awhile.
Historically September and October are challenging months for the market and while there is no guarantee that the volatility is going to continue. I have been holding an above average level of cash at the close of each day while taking advantage of day trades like FCX and STXS yesterday.
It is too early to call a bottom on this selloff, bounces can last a weeks or even a month and there is still a lot of technical damage that needs to work itself out.
Keep an eye on materials, metal, solar and the oil sectors. They could be stabilizing, Carl Icahn announced an 8 percent stake in FCX after the close. The "smart" money has been dipping there toe in the beaten down sectors and at some point they will be in vogue once again but it could be another year or two.
Stocks on my radar premarket
Bullish and may have lottos in play
Cautiously optimistic
Very Cautious may even present a short opportunity
08:27:19am
08/28/15 |
Micron +4% Folowing Report Tsinghua Chairman to Meet With Micron Board to Discuss Potential Deal
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Could be in a nice bounce area Mad Money appearance last night Nice balance sheet could be more of a swing type
04:11:59pm
08/27/15 |
Smith & Wesson Sees Q2 Adj. EPS $0.19-$0.21 vs $0.15 Est.; FY16 EPS $1.14-$1.19 vs $1.04 Est.
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Super thin looking for some volume on a break over the 4 dolla holla may need some news to get it going though
Could continue its run along with FCX looking for a 2.50 test
09:01:14am
08/28/15 |
Senomyx Announces FIrst Commerical Use Of Sweetmyx S617
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There may be no live session or video this week Heading out for a little Vacation. Enjoy your weekend be safe and have fun!
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