A Keepsake
Within the first 15 minutes of trading, the Nadsaq futures went limit down,
to -95.00. Soon after hitting this level, they bounced and have started to fill
their gap. This type of gap filling action often leads to a bounce in big boys,
just as a break down in the futures results in nice short setups in the same
stocks.
My plan for the day is to watch for intraday patterns to form in the major
names, as they are likely to make the most significant move.Â
Worth watching once again are the members of the semiconductor group. The SOX
was one of the first indices which filled the gap. One name to watch in the
group is Xilinx
(
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is moving a bit too, trading up 3.00%
Yet, no matter what any chart says, the best advice for today is
to take a vacation. We should expect the announcements about the election that
will be released throughout the day to move the market here and there.
Lastly, next time that you think of buying a stock just because
you want to trade, and you tell yourself that you will just hold it for the
bounce if it goes down, keep something in mind: a weekly chart of Ventro
(
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PowerRating).
Until later,