Patience Pays

Tremendous example of patience 

Good morning folks,
We had another good day in the markets even with the big build in crude inventory. For me it offered another opportunity to lock in more gains in the long term hold portfolio and a few quick scalp trades in the cash account. 

Even though the markets were rallying Gold held tough which is unusual since we would typically see gold crater when the market rallies. My opinion has not changed much in gold as I think we are just consolidating before the next significant move. 

Oil should have sold off on the big inventory build and it did have a strong pull immediately after the report but that was only a head fake that caught many off guard.

We have had a tremendous run in a very short period of time and it makes it more challenging to buy things at these levels for swings or investments. This is a time when I want to be focusing on the quick hits /short term reversal plays and potentially bear ETF's. 

Steel, Financials, Biotech, and Energy have been particularly good sectors over the last couple of days for those quick hitter trades.

Tomorrows payroll report is going to very interesting. I have no clue how the market will react to a number that is either too hot or too weak.

Today's Economic Calendar
7:30 Challenger Job-Cut Report
8:30 Initial Jobless Claims
8:30 Productivity and Costs
8:30 Gallup Good Jobs Rate
9:45 PMI Services Index
9:45 Bloomberg Consumer Comfort Index
10:00 Factory Orders
10:00 ISM Non-Manufacturing Index
10:30 EIA Natural Gas Inventory
10:45 Fed's Kaplan: Monetary Policy
4:30 Money Supply
4:30 Fed Balance Sheet

ETF watchlist 

Volatility & SPY                            OIL                                                  Biotech
UVXY XIV VXX TVIX SPXS     UWTI DWTI GUSH DRIP                     IBB LABU LABD       
 Gold                                                                  SILVER           Dollar      Financials
GLD NUGT JNUG DUST JDST GDX GDXJ         USLV          UUP      FAS XLF FAZ

Stocks on my radar premarket 

NVCR pr potential continuation 

PLPM earnings potential 3 roll and trendline break 

KOPN pre earnings pop potential 

CANF nice daily could be breaking out >poster presentation on March 7th
BXLT hot daily potential 40 roll and trendline break>poster presentation on March 7th

VSTM potential scalp opp off pr of partnerships 

AA thick stock potential continuation > new contract