Digestion..
Wednesday, May 6, 2009 at 12:00AM
Demi/ YourPersonalTrader

It shouldn’t be a surprise tonight that we don‘t have much to say, we’re feeling a little bloated as we've really tried to press here lately with Journal market commentary, including premkt/ intraday and a flurry of stocks to trade.  Just like the market today,  it’s digestion time!.

This is probably the time to go over a weeks or more of a review of Journals, Forum, Alert- Comment pages to keep a level head and go over stocks and charts of recent plays,  notably many new EPS names and see how they are functioning days after their releases.    We’ll do the same so we don’t get away from our current methodology/ strategy flow.    We don’t want to be swayed by something and /or a stock(s) away from own at this point.   Going back days and reading our own Journals is an exercise we do.    It’s easy to get sidetracked on a boring or a bad market day by having the wrong info purge on your trading brain and go away from what you’ve been doing or preaching in our case.   It's easy to get  manipulated on those boring/ bad days by either watching the CNBC or making appearances at a blog or ten.!.   Stay focused to what you see is clearly working at DJIM, market direction and stocks.  Right now,  let’s keep to, “The Premise “ and the stocks we have.    As far as stocks,  do we really need anymore choices?.    Besides individual equities,  we have groups and sub-groups of those groups to trade.   We can trade commodities- linked stocks one day, we can go banks- brokers the other and vice a versa.  We have new groups eg casino’s.   Even if the market has a bad day,  we all should be okay with new mid-small caps EPS plays that have emerged to hold through.   BWY ,  this new name sprung up today.   Simply, there is something everyday from what we’re following into May,  this boring profit taking day still produced standouts,  the casino’s LVS, WYNN  and the linked play CRYP , also ICE  reached triple digits!.  Oh yeah, FIG ,  noted as a possible trade in Journal going into the week was not a figment of our imagination the last 2 days.

The market should be okay if we go to low 890 levels, we saw plenty of nice bids pushing this market here the other day on SPX futures intraday.   Of course, this excludes any shell-shock surprise from Stress test or employment report.   Also,  CSCO  Thursday AMC, this will be interesting as it is a first April end report,  it will be of importance of how they say things were in April

Update on Wednesday, May 6, 2009 at 07:14AM by Registered CommenterDemi/ YourPersonalTrader

CSCO AMC today, not Thursday per Journal.

Article originally appeared on Your Personal Trader (http://www.yourpersonaltrader.com/).
See website for complete article licensing information.