Wednesday, October 1, 2014

Met up with Kunal


Last night,
Had a fantastic time but paying the price a bit this morning. Market was a bit choppy yesterday and really limited my trading activity. There was very little follow through if you didn't catch the morning pops you were left sitting on your hands the remainder of the day if you are a long biased trader.

I am out of material for the workbook so I will have to pick it back up in the next week or so. I plan on hanging out with Kunal for a majority of the weekend which is probably going to kill a lot of brain cells and limit the time I can work on new material.

Markets are showing red premarket but we do have some economic data this morning the could change the direction we are headed. Yesterday going through my ETF scans and looking at the indexes there wasn't one sector that looked good to me.  IWM looks as though its going to test that 107 area if we lose that it could get a little scary, If I take any trades it will be with smaller position sizes and very tight stops.If the market remains weak the momo stock high flyers like GPRO MBLY LOCO CYBR NFLX TSLA  could see some downside pressure.


Stocks on my Radar this morning 
APT and LAKE off of the Ebola panic, CGA announced dividend bouncing off 52 week lows
 
Airlines taking a hit from the Ebola Scare AAL UAL JBLU DAL 
FNMA and FMCC both getting crushed possible bounce plays 
Seeking Alpha

Economy
The Centers for Disease Control and Prevention has confirmed that a patient being treated at a Dallas hospital has tested positive for Ebola, the first case diagnosed in the U.S. The patient was placed under strict isolation, and CDC and Texas health officials are working to identify and monitor anyone who may have come into contact with the patient. In response to the case, Ebola-related stocks are jumping. Premarket: BCRX +14.5%SRPT +5.5%NLNK+13.7%INO +3.2%NNVC +12%TKMR +26.7%.

Today's Markets:
In Asia, Japan -0.6% to 16082. Hong Kong closed. China closed. India -0.2% to 26568.
In Europe, at midday, London -0.4%. Paris -0.3%. Frankfurt +0.2%.
Futures at 6:20: Dow -0.1%. S&P -0.1%. Nasdaq -0.2%. Crude +0.5% to $91.59. Gold -0.2% to $1209.70.
Ten-year Treasury Yield flat at 2.49%
Notable earnings before today's open: AYIAZZ

Best of Success!!

If you are interested in getting my trades entries and exits REAL TIME for both day trades and swing trades sent to you in email and in text . You can join me @ the Stock Aviator chat room. It is a paid site and if you use this link https://www.stockaviator.com/sign-up/ USE PROMO CODE VegasTrader  your first 30 days will be at a discounted price of $79.90. After your initial 30 days it will be $99.00. I recommend trying out the free 14 day trial.

Chat rooms are great for idea generation and learning the style and strategies of other traders. When you sign up make sure to give me a shout out in the chat room so I know your there.

I encourage people to take their own trades with their own setups, not just blindly following someone into a trade and that includes me. However if you see me take a trade and want to know why I took it and how I came up with my  profit targets and my stop, hit me up and I will email you an explanation after the market close.