Overnight, the overseas markets managed not to capitulate and as a result, the futures, heading into the open, are trading in positive territory. We have a few economic reports that could shake things up a bit with ICSC-Goldman Store Sales at 7:45am ET, followed by Redbook at 8:55am and then Pending Home Sales at 10am – the latter of which will hold the biggest sway over the market.
As for my trading right now…Still Cash, Still Scalping Intraday, Still waiting impatiently for a sizable bounce to start shorting off of.
Here are Today’s Trade Setups…
SHORT: Oclaro (OCLR)
LONG: Encore Capital Group (ECPG)
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Ryan Mallory analyzes one trader's swing trading strategy and whether there are any flaws or issues with his strategy.
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