Hang in there folks – it’s almost Friday. Despite yesterday’s sell-off my portfolio managed to do quite well, racking up gains in 3 of my 4 holdings CMZ, my very speculative play continues to flounder and was able to add more shares to my position at 1.15 to give myself a full position and a buy-in price of 1.23. The stop still remains at 1.07. However, AAPL, TDC, and IDA all pulled out gains and TDC had gains of over 4% on no news, with its highest level of volume since mid-May. This comes after my post yesterday where I stated TDC looks content to ride the 50-day moving average. Not so at this point.
Overseas markets had a strong negative bias despite the fact that the Nikkei managed gains of 1.6%. European markets are slightly negative. US Futures is flat, see-sawing between positive and negative territory. Few reports today likely to affect the markets, the biggest one being the jobless claims, followed by existing home sales. At 10:30 am EST, there will be a natural gas report which could significantly affect the direction of CMZ.
Here are Today’s Trade Setups…
Long Setups: COW
Short Setups: ABT, JASO, NCI, NJR, URE, SWRY
I really like the ABT short, but this market is just way to strong to get into any short position at this point.