It’s Jobs-Day once again – and we got that all-important Jobless Claims report coming out at 8:30am ET so be ready. Also, As of this writing a deal was just struck for Europe to support Greece with their debt troubles. How Wall Street responds to that news is anyones guess. The market is showing some strength heading into the open but can quickly change should either the two aforementioned news-makers disappoint.

Should the strength we are currently seeing continue into today’s trading, I’ll likely add 1-2 new short positions to my portfolio.

Currently the futures are showing the Dow up 14 points, followed by 2.5 points on the Nasdaq, and 2 points on the S&P.

Here are Today’s Trading Ideas…

Potential Swing Trade (Long): Argon St (STST) – Been on a huge tear for two months, pulled back over the course of the past five trading days but seems to have found a base to consolidate at. If this support level that it is currently trading at can hold, then you could see a pop into the 30’s (only if the general market conditions cooperate though). Stop-loss for this play is 23.82.

Click Here to See the Rest of My Trading Ideas.

Potential Swing Trade (Short): 

Bounce Plays (Long): Spirit Aerosystems Holdings (SPR) – This stock has taken a beating of late, but it seems like it is starting to pull itself together. You have a nice tradable bottom with a stop-loss to place at 16.19.

Pullback Opportunities (Short): Airgas (ARG) – Stocks prime for a pullback are becoming difficult to find, and while I’m not big on this one in particular, there is a play at stake. The stock shot up 33% last week, and has held its gains, but what I would keep an eye out for is a close below the low of the day from 2/5. There is a huge gap to fill and if this low is breached, you could see a nice opportunity to scalp some gains from investor profit-taking. Stop-loss for ARG is 63.02.

Chico’s Fas (CHS) – This stock has gradually been declining since mid-November, putting in higher-lows and lower-lows. Had I not already shorted GPS yesterday, this would have been a perfect setup for me, but I’d like to wait personally, so that I am not heavily skewed to shorting the retail industry. But no doubt about it, this stock has all the symptoms of a stock heading downward. Ideal stop-loss here is 14.18.

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