Boom Boom Stocks 10/20/2011

Evening folks. Markets down with the s&p fading about 1.26% and the nasdaq and russell down 2%.  We started off weak today and then tried to make a go at the range highs of spx 1230 but quickly faded. After that the market pingponged back and forth between support/resistance for a couple hours before breaking down late in the day.  The action was piss poor for most of the day even when market was flat you just had a feeling today was different then the past week where all weakness was a buying opportunity.  We had a great morning with huge gains in $oxgn $tiv $spf ( all 10% trades)  and went to cash and took some  shorts in sqqq and tza late in the day when market looked to break below range.  We have some strong support at the s&p 1190 zone which will be the level to look for if we gap down tomorrow and if we start running yesterdays highs will serve as a key resistance point.  Trade safe this is opex week which is historially tricky.


I will be in las vegas tomorrow for Tim Sykes Penny Stock conference if anybody is going to be in town and wants to trade with me for a couple days or just hang out send me an email

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