Tough day in the markets today as alot of stocks tapped their 52 weeks highs and faded hard into the close. Overall the market was tough to trade and we sat on the sidelines for the majority of the day. As a daytrader, you have to know when to go hard and when to scale back, that is what separates the successful from the unsuccessful in this business. We ended the day down -$130. Thanks to this pullback in the markets, there isn’t a whole lot of great looking chart setups out there for tomorrow. It is likely that there will be a few earnings runners, however, so don’t fall asleep 🙂 Here is a look at the trades from today as well as a few stocks that I am watching for tomorrow:
Still keep on an eye on these stocks from last nights watchlist. Alot of them remain in their consolidations.
Also, email me firstname.lastname@example.org if you are interested in trying out the bulls room.
OTIV- potential parabolic short
FB- short setup below 45
GOGO- possible bounce day tomorrow.. look for signs of strength
VJET- if market gets nasty this one could be a potential short setup.. parabolic move
TASR- still consolidating on support. Potential for another move higher