Boom Boom stocks 6/10/2011 | Bulls on Wall Street

Boom Boom stocks 6/10/2011

Morning folks. Looks like we are going to have a slightly higher opening today as the spy is inching up .24% premarket.   Not much else is going on premarket.  We are currently in a bear market type trading environment (this is not a bear market) where even the smallest rallies get sold off and gap downs are common.  This tends to be more frusterating then huge down days as the market slowly just drips lower and lower and it takes days, weeks to get where it needs to go. I always prefer a big flush so we just get it out of the way but the market doesnt seem to want to do that. Instead its dripping lower grinding all the traders slowly till everyone gives up.  there are still a few types of intraday setups that have been working but even those were quite difficult yesterday the real money has been on the shortside. Our goto girl in the chatroom @mb_willoughby has been nailing every short she sees for the last 2 weeks including some big ones yesterday in SGI and YGE. kEEP an eye on her when things get dicey she has a good eye for nailing these breakdowns.  Im a classic overtrader I usually keep 4-6 swingtrades and do 4-10 daytrades a day and Ive cut my trading down dramatically the lowest since maybe 2003 that i can recall.  As of right now Im about 90% cash and doing mostly scalping if i see a reversal I will get 100% invested in 10 minutes as that is my style!

The watchlist will be short. If we do get a bounce often the best way to play it is with TNA if you dont have time to sift through individual stocks.  That will get you enough leverage where if we get a 3-4% bounce you might be get 10-12% on it without having to do much work.  I tend to add it in my ira everytime the market starts to get real oversold adding in 1/3’s.

 

here are some stocks im watching..

 

 

$cool is also pretty strong..look for dips in it

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