Futures are trending lower this morning with the S&P down at much as 8 points heading into the open. The reason for the weakness? Obamacare. You see, Wall Street tends to get willy-nilly when politicians decide to take over 1/6 of the private sector, and today is no different. With the rampant abuse of power that we are seeing taking place in Washington, it is no surprise that investors are getting a little bit squeamish. Energy-Sector – Watch Out! Your Next!
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It should be a relatively quiet day on the home-front as there are no major reports expected for release.
As for the trades in my portfolio, I have raised the stop-loss in BKS to 21.24 and in UGI it remains at 24.86
As for the trade setups, today I will be taking a pass, as my stock screener has been acting up and is not working properly – all should be well though for the morning setups come tomorrow.
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Watching the dollars rise and fall in your trading account can turn a well-planned swing trade into an emotional, deeply personal decision. In this episode, I explain why focusing on price action, percentage returns, and R-multiples can help you avoid cutting winners early, holding losers too long, and abandoning your trading plan.
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