The Drip Continues
The drip continues, and luckily the HVT
is still extremely conducive during the first hour-and-a-half. Friday’s
afternoon session was a snooze, however, until the last twenty minutes, and even
then the risk/reward was not all that good. I expect more of the same today. The
fear and greed component of this market is still present, and this will result
in good trading opportunities.
Some of the longer-term trades I have been highlighting in recent columns
have been playing out, only to see them reverse and eradicate any gains you may
have had, despite the overall market going in your favor. First off, always
trade with a protective stop, or better yet, in this market use a trailing stop
that fits in with your risk/reward tolerance. A trailing stop on these trades
will allow you to pocket some of the profits before the “fickleness”
of this market takes them away. That being said, the two stocks below represent
some good ideas depending on which way the market trades today:
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Key Technical
Numbers (futures):
S&Ps |
Nasdaq |
| 861.50 | 997 |
| 854.30 | 982 |
| 842 | 974 |
| 828 | 963 |
| 810-12 | 952 |
| 790 | 928-32 |
As always, feel free to send me your comments and
questions. Make a point to log on to TradersWire
for some insightful intra-day commentary.