Wednesday, March 5, 2014

Know your strengths

Good morning Folks, 
If I was going to last in this business I had to learn my strengths as well as my limitations. Gap up days are my worst trading days hands down. It took me awhile to figure that out and in theory it doesn't make any sense. 
The market was ripping yesterday, the breadth of stocks making significant moves higher were tremendous. From appearances I should have had a HUGE day and banked a couple zillion dollars. In actuality, I barely made any trades and the couple I did take, I bailed on almost immediately since there was no follow through. Its so counter intuitive. I mean the market is making new highs, hundreds of stocks making great moves. It should be like shooting fish in a barrel. I think that is why I used to do so poorly on gap up days. My expectation was always; This is going to be a great day. I am gonna kill it!! Reality is there were too many stocks gapping up. Too many that made their move before the open and didn't have enough strength to continue. Its frustrating to sit on the sidelines when the market has gapped up and there is so much green on the board. However I know that this is one of my most challenging days and I have to respect my limitations.

Morning movers and other stocks that caught my eye
$CPST continuation?, $HART moving can't find anything but looks like a continuation, $ARWR active premarket 20 day bounce, $SWHC nice daily good earnings, $ROSG continuation? $GENE and $GERN in sympathy careful they are all good at the pop and flop, $CTIC earnings wants over the 4 dolla holla?, $QTWW wants over the 10 dolla holla looks like, $YOD nice daily, $NAVB Pr love the daily, $DARA nice daily PR, $CYTK nice daily PR, $MPO pr decent daily, $RGSE moving pre market think this was formerly $RSOL careul it likes to pop and flop,   $FRO and $FREE both look good 


Seeking Alpha
Today's Markets: 
In Asia, Japan +1.2% to 14898. Hong Kong -0.3% to 22580. China -0.9% to 2053. India +0.3% to 21277.
In Europe, at midday, London -0.5%. Paris -0.4%. Frankfurt -0.3%.
Futures at 6:20: Dow flat. S&P -0.1%. Nasdaq flat. Crude -0.4% to $102.92. Gold -0.25% to $1334.50.
Ten-year Treasury Yield - 1bps to 2.7%.
Notable earnings before today's open: ARQLBF.BCSIQENDFSSHOVINXNLINCMCGCPETMPOZN
Notable earnings after today's close: BIOL, BYD, CWST, ERII, GA, LHCG, LRE, SMTC, SN, SYNC, TCRD, VVTV, WX, ZGNX
Good luck trading today !!

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