Yo yo! Here's a quick update of my trading from the last week or so! I finished down a little bit (about 200 bucks, I know I know I suck!) for the week and once again I didn't really do much trading. The key in this environment is capital preservation as there are many months left in the year to make bank! There were some good short opportunities the last few days but I didn't have shares of a lot of stuff so I was just kinda hanging out again. Anyway, I think the market is starting to pick a direction now and there is some more volatility intraday so I have high hopes for the coming weeks. I am starting to become slightly bearish overall as there is a lot of pullback in the tech/biotech sector and these sectors are often an indicator of RISK as people tend not to invest in risky new-tech companies or biotech/pharma stuff when there is a lot of uncertainty. So, when people start pulling out of them, the market starts going down and people move into assets like gold and silver it's usually an indication that people are going to be a little bit squeamish for a while and that can lead to pullbacks. I don't see anything drastic happening and I am not screaming "OMGz 50% correction!1!!!" or anything but I am definitely not as bullish now. Once we get back over $190 SPY, I will become more bullish again.
That being said, I picked a couple things to watch tomorrow and will continue to watch intraday movers and "super-momo" stocks like BIOF, PTX, ARTX, MXWL, ISR, VIMC, UQM etc for intraday plays.
PLUG on watch over $7.40s for a breakout. Also watch BLDP and FCEL to follow in sympathy if plug breaks out.
ORMP on watch over $14 for a bounce.
ARWR on watch for a short continuation under $12.84...it has downside to mid-low 11s probably.
Hope everyone has a great week!
Chris
DISCLAIMER: I am a day/swing trader. LONG means I'm expecting price to go up, not that it's a long term trade. SHORT means I'm expecting price to go down, not that it's a short term trade. Just because I post these here does not necessarily mean I'm buying/shorting them. They are ONLY ideas, may not be traded at all, and if I do take them, 99% of the positions will be closed by the end of the day. One other thing...any swing recommendations should be taken w/ extreme caution - lock in some profits as I am not checking these to see if they have earnings or anything before posting, so if they do they could make crazy moves. Do your own DD on them. BEFORE you ask "what are your thoughts on [insert symbol here]?" here is my answer: Tell me what your thoughts are and I will tell you if I agree! It's impossible for me to give thoughts when I have no idea what your plan is. Other than that if ya have any questions, feel free to ask below and as always, share your ideas too. The more the merrier!
Submitted April 13, 2014 at 11:00PM by greenbartrading http://ift.tt/1hznd6g
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