Good morning folks,
If you watched my video this weekend you know what my strategy was and I stuck to that plan I sold half my lotto position premarket in MNGA booking a nice gain to start the morning. Starting the day that way lessens the need to trade in a challenging tape like we experienced yesterday. I took a couple of day trades that I had to exit almost immediately for small losses. I took a nice day trade in $IDN and sold the lottos in my swing account for a nice profit. That was the extent of my trading day.
It could be another choppy day in the markets and defense is the name of the game for me. I am heavy in cash, light on swings and I have very tight execution strategies for any day trade I attempt to take.
There is nor reason to try and force a trade nor is there a reason to think this is time to start loading up on swings. If the markets are entering correction mode there is no telling how far the correction will be. My day trade positions are smaller and my tolerance for the setup to work is less.
Live to fight another day, that is always my primary goal and sometimes that means just protecting my ASSets.
Morning movers and other stocks that caught my eye
BBRY like the daily active premarket, RAX active premarket off of upgradecould be a decent bottom play, $EXEL pr lots of resistance overhead needs to bust 7 with strength, PGEM daily kinda hot, BGMD pr Bounce play, HPJ like the daily earning out this morning, YONG like the daily, NBS nice daily seeking alpha article, GALT active premarket
Seeking Alpha
Today's Markets:
In Asia, Japan -0.4% to 14423. Hong Kong -0.5% to 21732. China +0.05% to 2067. India -0.1% to 22055.
In Europe, at midday, London +1.1%. Paris +1.1%. Frankfurt +1.1%.
Futures at 6:20: Dow +0.1%. S&P +0.1%. Nasdaq +0.1%. Crude +0.3% to $99.89. Gold -1.6% to $1314.40.
Ten-year Treasury Yield - 1bps to 2.73%.
In Asia, Japan -0.4% to 14423. Hong Kong -0.5% to 21732. China +0.05% to 2067. India -0.1% to 22055.
In Europe, at midday, London +1.1%. Paris +1.1%. Frankfurt +1.1%.
Futures at 6:20: Dow +0.1%. S&P +0.1%. Nasdaq +0.1%. Crude +0.3% to $99.89. Gold -1.6% to $1314.40.
Ten-year Treasury Yield - 1bps to 2.73%.
Today's economic calendar:
7:45 ICSC Retail Store Sales
8:55 Redbook Chain Store Sales
9:00 S&P Case-Shiller Home Price Index
9:00 FHFA House Price Index
10:00 New Home Sales
10:00 Consumer Confidence
10:00 State Street Investor Confidence Index
10:00 Richmond Fed Mfg.
1:00 PM Results of $32B, 2-Year Note Auction
4:00 PM Fed's Lockhart: U.S. Economic Outlook
7:00 PM Fed's Plosser: Monetary Policy and Economic Outlook
7:45 ICSC Retail Store Sales
8:55 Redbook Chain Store Sales
9:00 S&P Case-Shiller Home Price Index
9:00 FHFA House Price Index
10:00 New Home Sales
10:00 Consumer Confidence
10:00 State Street Investor Confidence Index
10:00 Richmond Fed Mfg.
1:00 PM Results of $32B, 2-Year Note Auction
4:00 PM Fed's Lockhart: U.S. Economic Outlook
7:00 PM Fed's Plosser: Monetary Policy and Economic Outlook
Good luck Today!!
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