After a 3 day weekend and a profit taking Friday, I’m going to carefully move into the trading world tomorrow.. no need to rush it – really want to see how the market feels first. I am heavily in cash right now and that’s how I like it during the earnings season. I generally move in and out of positions quickly and I very rarely hold a stock into their earnings announcement. I would much rather reduce risk and play the kaboom after.
This evening, I tweeted out a few stocks that I’m watching this week. If you didn’t catch them… check out my tweet history. http://twitter.com/urban_ryno .Keep in mind that I will probably not play many of these and I’m only looking for moves with volume before the setup / breakout is confirmed. I don’t feel like buying in hopes that the move will happen – just let it come to me.
Here are a few more for us to eyeball tomorrow:
TMR – The channel has turned. The chart isn’t great, but I think it might be swingable if it holds MA50 tomorrow. Heavy resistance at .30, but the doors could open up after that. Worth watching.
CXM – finished Friday at the high reached on January 4th… aka, resistance. Volume will be important tomorrow if CXM is going to make it through .74. Next resistance at .80. I’m looking for a scalp on any move north of .74 with scaling out above .80. Careful here.
EMMS – Nice volume late day on Friday.. if volume continues, I might take a small position (doesn’t trade enough volume for me to try and go heavy) if it holds MA50. First resistance at 1.3, big at 1.4.
OPXA – swingable long over 2.5 (100MA and horizontal resistance). I’m not interested under.