Futures continue to rise throughout the morning. No major news really guiding this market. As always, once European markets open, the US tends to piggyback on whatever it is they are doing. As for the trade setups below – GMXR is a classic bounce play and CHS is a short play that is at a pivot point in its share price – and its next move will show whether it has plans for moving lower or joining the rest of the stocks in moving upwards.
LONG: GMX Resources (GMXR)
SHORT: Chicos FAS (CHS)