The markets are in the negative this morning, but considering where they were late last night, they have managed to recover quite well off of their lows. Of course we have the all-important weekly jobless claims this morning, that will have a huge bearing on where we end up going today and that is due out at 8:30am ET. Also coming out this morning is the International Trade Report at 8:30am, and the not-so-important quarterly services survey at 10am.

As for my current portfolio, I did manage to raise the stop-loss in UGI up to 24.39.

Here are Today’s Trading Ideas

Potential Swing Trade (Long): Zion Oil and Gas (ZN) – This stock managed to bottom out back in February, before going on one mean tear throughout the rest of the month and into early March. Since then, it has given back some of its gains on light volume, and the retracement has been back to the Fibonacci 61.8% level. Recommend a stop-loss of 5.42.

Click here to See the Rest of My Trading Ideas.

Potential Swing Trade (Long): Borg Warner (BWA) – Made new highs earlier this month and has maintained its upward trend quite nicely despite the recent pullback. Over the past few months it has found support at its upward sloping 50-day moving average and that is currently where it finds itself at today. Recommended stop-loss is 35.48

Potential Swing Trade (Long): Henry Schein (HSIC) – Another nice uptrending stock, which also made new highs, but has since pulled back to its upward trendline that coincides with the 50-day moving average. Stop-loss should be set at 54.59.

You Might Like

  • The rise of the retail trader in the stock market.

    The Retail Trading Revolution: How Small Investors Are Reshaping the Stock Market

  • fading the gap

    Fading the Gap: How Large Overnight Moves in SPY and QQQ Play Out During the Trading Day

  • how to trade a bear flag

    How to Trade a Bear Flag