Stay Flexible!

Good morning folks,

We have had two days in a row of a market that looks tired with some choppy action. If you watched this weeks video you know that I sold some swings and raised cash. In the last two days I have not taken one trade. I still have some lottos and select swings in play and I am content on letting those play out. I am now in stalking mode waiting for my targets to hit to either scale out or take a small loss, begin building a swing in some of my wish list stocks, or trading the occasional scalp when the opportunity presents itself and I get my entry. 

Technically we still look overbought and running into resistance on many of the indexes. Earnings are still coming in fairly weak and those pesky layoff announcements keep trickling in. IBB looks like it wants to go lower and it may do just that on the way to some of the big Bio's earnings reports. The could set us up for a real nice snap back in the sector.

The IWM is looking like it went too far too fast and it could be under more pressure in the near term.

In the live session last Friday, I talked about the Semi's and how that sector could be the sector to lead us out of this little correction. Over the last couple days SGI guided towards the high end of revenue number, SNDK exploring a sale gave a boost to it and MU after the close. INTC had decent earnings but the stock had already run into the number and guidance was typical Intel as they are usually conservative. I am still stalking HIMX for a potential swing entry around 6.49 or so.

We get retail sales and PPI at 8:30, business inventories @ 10, Oil and Gas inventories @ 10:30 and at 2 we have the Biege book a region by region assessment of growth

Stocks on my radar premarket

Bullish and may have a swing or lottos in play

Cautiously optimistic

Very Cautious may even present a short opportunity .

ADTN	Adtran Reports Q3 EPS $0.19 vs $0.14 Est; Revenue $158.078M vs $160.3M Est

Could be a swing type decent earnings and guidance at first glance, Decent balance sheet fairly small float and looks like it may have found a bottomA break over 16 with conviction could send it 

08:15:32am TSYS

TeleCommunication Receives $223M U.S. Army Order

Could be  interesting  for a 4 test small float nice contract if all options are exercised through 2020 earnings are the 29th of this month

SGI	Silicon Graphics Offers Q1 Adj. Loss Guidance Inline

Looking for a break over 4.50 with conviction possible 5 test small float do not chase it

If the IWM rolls over this could get a nice pop day trade

If we get a spike in volatility this will give us a nice move

Keeping an eye on GLD and the miners