After last week’s bearish finish, I find myself heavily in cash, but
still holding a few small positions. Day trading / scalping / and short
term swings are my gig, so I approach the market with a ‘what can you
do for me now’ mentality.
still holding a few small positions. Day trading / scalping / and short
term swings are my gig, so I approach the market with a ‘what can you
do for me now’ mentality.
On Wednesday, we saw a spike in the DOW up over 9900 as bulls begged
for the psychologically beneficial 10000 mark. However, like many
nights I spent hitting on ladies in dark smoky bars, the bulls were
slapped down and told to take a seat somewhere else.
for the psychologically beneficial 10000 mark. However, like many
nights I spent hitting on ladies in dark smoky bars, the bulls were
slapped down and told to take a seat somewhere else.
Bullish or bearish Monday? I won’t dare try to predict. I would much
rather get ready for what the market gives me and play accordingly.
rather get ready for what the market gives me and play accordingly.
First things, first… what’s on the economic calendar that could
punish or boost the overall market sentiment? From the trusty Bloomberg Calendar,
I see quite a few reports that could rattle some cages. The big nasty
being Consumer Confidence at 10AM ET on Tuesday. The other monster
number will come out of the GDP and Chicago PMI reports on Wednesday.
All of these reports are in the morning and as a trader of very
volatile securities, I will likely be very heavily positioned in cash
Monday and Tuesday nights. As the reports release, I’ll take what I’m
given.
punish or boost the overall market sentiment? From the trusty Bloomberg Calendar,
I see quite a few reports that could rattle some cages. The big nasty
being Consumer Confidence at 10AM ET on Tuesday. The other monster
number will come out of the GDP and Chicago PMI reports on Wednesday.
All of these reports are in the morning and as a trader of very
volatile securities, I will likely be very heavily positioned in cash
Monday and Tuesday nights. As the reports release, I’ll take what I’m
given.
Ok, enough about the calendar -let’s talk about Monday setups.
Here are a few stocks I’m eyeballing Monday:
Here are a few stocks I’m eyeballing Monday:
- ARIA – fairly oversold and now sitting on MA50 support.
-
INO – Another stock that’s been hit hard lately sitting on
support. Could fall through the gap or find some stability here for
swing long. - TTEK may have found some love on MA200.
- ONTY – Watching trendline support. Possible swing long.
- AOB – Sitting on horizontal support.
- SCLN may have found some support on $4.00
- CYTR – Watching for move above 1.21.
- PTN – bottom of channel, possible long swing.
- GSAT sitting on .79 support with very tight bollinger bands. could go either direction.
- CMZ – nice bounce off MA50 on Friday with volume.
- NVD – Watching against horizontal resistance at .28 with improving volume.
Happy trading tomorrow – careful, the bears are gaining some confidence.
