Friday

All trades today should be for day-trading purposes only.

GLD, SLV

The only long side trades right here are GLD or SLV with very tight stops,,, For instance the SLV stop price@ 14.15 , small positions. GLD stop @ 92.67.

8600 Dow

Ok we've reached a key level on the Dow at 8600 let's see how this plays out a move higher would be miraculous. We most likely will see some profit taking around here.

Up and running

Went ahead and put 4gig of new memory in and this computer is like new again. Isa got to leave here for a while but over the next few days PBR may make a small move higher.

OFF

My main computer has been down and will remain down until it's fixed. So I have no access to my best charting programs. It's an on / off problem.

Public storage

If your going to play PSA on the long side keep a stop about a $ 1.00 below the 50 day ema.


Let me add that I have no idea which way this will trade going forward but as people continue to get evicted they may try to save some of their property at least temporarily by storing it at a storage facility, but the flip side is some others may be no longer able to pay their storage bills and let their property go to auction, Tough Call here.

ADBE

ADBE may be turning for a small move higher, tight stop.

eh

It's hard to take any positions this morning, let this selloff play out a bit and see where we are later today, look for stronger chart patterns.

General observations

Ok the best of the trading looks to be over here after the first thirty minutes. I'll be keeping an eye on it, maybe just maybe fading some of the excitment may work for some daytrades. If I see anything interesting I'll post again.

PCR

PCR continues to move higher current stop price would be @ 19.00.

SQNM

Yeah yeah yeah I'm gettin bitch slapped on my SQNM, however I've decided to hold this position until more news is released it could be fraud or it could be a situation that just needs more time and testing to resolve. The best strategy for positions in SQNM would be to sell now.

Daytrades only

Ok I'd be waiting until after the stress test results and labor numbers on Friday before initiating any positions. Daytrades only until Monday at the earliest.

STZ

I'm watching STZ very closely it appears to want to move higher very soon.

UNG

The UNG looks good right here time to get long. It's thick with bears so don't let this pull back too much on you set a stop around 13.80.

SQNM

SQNM at $5.90 here in after-hours looks like a very speculative purchase I'm considering.


OK I'm in @ $ 4.80, geez this is a gamble.

The market is setting up

This market is causing pain on both sides right now. This leads me to believe we will see a good size move here very soon. Bullish or Bearish does it really matter if your a trader? It also is obviously a stock pickers market, look for strong setup patterns then wait for the move to start and set your stops. Good Luck.

Financial Armageddon

Financial Armageddon is here I think it might be a good time to start scaling into the S&P at 686.

FCX

Freeport reports tomorrow morning I'd stand aside until after the release.

Buying

I would be buying the POT the CHK the MOS the FCX right here right now. Financial's should be avoided.

The safer way to play is The DIA, SPY, QQQQ and other ETF's.

Bears

The bears are running with impunity. This is a disaster.