8/2/2010 watchlist - Bulls on Wall Street

8/2/2010 watchlist

 
 
 
Morning peoples.  Futures are gapping up hard.  These are the tough days to trade as its always hard to buy the market when its already up 1.3% in first 2 minutes.  typically how much upside could there be maybe another .5% or so.  These are the days to be patient see if market fades the gap back  in an orderly manner before stabilizing and taking off. If this is a true trend day there will be tons of trades to be made after the gap is faded a tad.
 
European markets strong across the board. All up almost 2%.  OIL $uso strong up 1% almost at 80 dollars.  Even though we’ve been making money the last few weeks dont forget we are still in bear market trading. Capital preservation is key and position sizes should be small till we get confirmed market breakout or if we fall rapidly to near the bottom of the market range SPY 102.
 
 $simg, LCC, abr, fcx, mon, mos, bee, mpg, gbe, vg, lscc, avii, cigx, aeis, hpj, ire, ngb, vg, gol, lei
 


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