Watch-Lists

Current Long Positions (stop-losses in parentheses): TICC (10.28), HRS (45.34), CEL (32.89), BMRN (25.80) Current Short Positions (stop-losses in parentheses): TFSL (8.23), ADBE (30.10), DTV (43.30), EQR (51.15) BIAS: 2% Short Economic Reports Due Out (Times are EST): None My Observations and What to Expect: Futures are down slightly afters selling off more

The markets are open and selling has ensued, as the bears look to avoid a push through of the 1200 mark (S&P), and to start filling the gap created yesterday in the charts. For both of the stocks listed below, I have a position, as of this morning in each of them. LONG: BioMarin Pharmaceutical

Market has opened and is continuing to build on its impressive gains. You have a morning-doji star candle pattern forming which could be a good sign of a short term bottom forming finally in the S&P. The key is whether it can reclaim the 20-day moving average and 1200 or if it will just sell-off

For the trade performance review this week, the performance table is bracketed by the breakout that we saw on the 4th on one end, and on the other end is the continual sell-off since then. Hit hardest were the long positions in the portfolio, however, despite their not-so-great current returns, there was a HUGE opportunity

Market has improved its situation ever so slightly off of its lows, but is still poised to open much lower and below that 20-day moving average.  LONG: McDonalds (MCD)  

Stocks continue to move higher, though the Empire State Manufacturing Survey disappointed  and caused a little bit of shakiness at the highs. It’s also options expiration week, so that could also cause the market to act a bit eractic as well.  LONG: Harris Corp (HRS)  

Futures are still well off of their lows, as they continue to pair their losses from their lows earlier this morning. European markets have done the same and are trading just below break even. As always, abide by your stops, they will be oh-so important today as the volatility is extremely high.  LONG: Citrix Systems

Here’s the performance review for all my daily long and short setups from 10/28 through 11/3. I wouldn’t say that the performance was stellar by any means, and on the short side, there was a number of stops hit. However, prudent profit taking in the long-setups should have easily off-set the losses you many have

Futures continue to deteriorate, with the market staring at a 1% loss to begin the day. CSCO earnings and what might come out of the G-20 meeting continues to push the market lower. We’re poised to test the 10-day moving average on the S&P which has continuously acted as support for this trending market.

Futures are rallying off of a Jobless Claims report that far exceeded analyst expectations, coming in at 435k versus expectations of 450k. Below are the long and short setups. Yesterday, I bought FLIR at the market close which is today’s long setup.  LONG: FLIR Systems (FLIR)