Alrighty, I’m ready to get a full week of trading under my belt after a nice relaxing vacation last week in the Caribbean. With that said, futures are showing some profit taking in the early going. We seem to have huge sell-offs in roughly 2 week increments of late. Not sure if we’ll see the same again today, but the Dow Futures are down 59, the S&P is down 7.75 and the NASDAQ is off 14. They have improved slightly off their lows in the early morning, but nothing of significance.
No major economic reports today, you do have Elizabeth Duke from the Fed, and Jeffrey Lacker from the Richmond Federal Reserve Bank speaking, but both of these speeches will be nonconsequential to the markets, and I wouldn’t have even mentioned them if there was actually something else of significance going on today.
I picked up some shares of TDC to the long side on Friday, and hope to add some more to my position today, if the market continues the weakness we are seeing right now.
Here’s the Daily Trade Setups:
Long Setups: ALE, MEG, NYMX
Short Setups: ADC, APOL, BLT, BRC, STV, COGT, GRS, GBCI, SOLR, DHI, JASO, NHWK, DBO, PBH, RHB, TE, UBET
