This Is How To Maximize Your Total Return
There were 3 possibilities for traders coming into
today’s Unemployment Number:
- The number is better than expected. If that were the case, it would be a
gap and crap, and unless you came in with long positions, do not even bother
showing up. I know I would not.Â
- The number is a complete disaster. That would have been an ideal situation
for traders.Â
- And now the one that actually happened — in line with expectations
— with a couple of little surprises regarding payrolls.
Outcome number 3 gives me and other traders a reason to hang around and
capitalize on what should be a volatile day (relatively speaking).
One thing remains constant, however. The morning trades remain the best,
trades in the afternoon, if there are any, are low-probability bets. Curtail
your afternoon trading in order to maximize total return.
Hopefully, all of you capitalized on the long setups mentioned in yesterday’s
column. All five were up better than a point. In this market, it is becoming a
requirement to have some positions working intraday. The stocks are listed
below:
[EBAY|EBAY[,
(
MERQ |
Quote |
Chart |
News |
PowerRating),
(
QLGC |
Quote |
Chart |
News |
PowerRating),
(
IBM |
Quote |
Chart |
News |
PowerRating) and
(
LLTC |
Quote |
Chart |
News |
PowerRating)
For today, keep an eye on these picks:
| Intraday Setups | |
| Â | |
Stock |
Action |
| MMC | Long |
| SO | Long |
| OIH | Short |
Â
Key Technical
Numbers (futures):
S&Ps |
Nasdaq |
| *954* | 1104 |
| 939 | 1086 |
| *932* | 1076 |
| 925 | 1073 |
| 920 | 1066 |
| 916 | 1056 |
| 910 | 1053 |
| 908 | 1041 |
| 901 | 1036 |
| 896 | Â |
The one possibility I see today for some decent upside moves would be the
gold sector. Stocks like Gold Fields
(
GFI |
Quote |
Chart |
News |
PowerRating)
are set up nicely, especially on a move above 15.
As always, feel free to send me your comments and
questions.