So it's another meltdown....

Being a trader in this environment is definitely tough.   This has nothing to with the fact whether you have 20+ years of trading experience or not.  It's simply tough out there.   Ok, lets rephrase it, it's tough for those that are actually "trying" to trade this market.   If you have been on the sideline the last little while, you can literally laugh at this in a comical fashion.

Basically, market's short rebound since yesterday which carried into this morning, got severely rolled over.   We are using the term severe because it really felt that there's just no hope in sight, to trade (long side) out of it.    Of course, all market sell off feel that way and this time is no different.    The "smart" way again is to sell into market's strong open this morning and lock up whatever the profit you've been carrying 24 hours ago.    In our opinion, we don't even think most people had that many profitable positions to begin with to sell into the morning strength.   More than likely, many people have used the morning strength to let go or lighten up whatever the losing position which they weren't able to sell during last week's debacle.

If last week's sell off was due to some worrisome news on potential sub prime fallout, then today we tasted a dose of reality from that fear.   The culprit is AHM and we are sure you must have heard of it by now.     Without needing to analyze the actual effect this can bring to the financial market and god knows how many other companies in a similar situation, we just need to realize how severe and devastating the mentality is among the market participants.     Yes, it can get much uglier in our opinion.   Coupled with one of the worst trading months coming up, we can get fairly rocky within the next little while.    So basically, this comes down to the question, is this market worth trading?   In our opinion, the market overall is not playable.    Trying to time this market movement with sector leading stocks just don't work unless you have deep pockets and a heck of a long term perspective.    To us the little guys, we just have to do what we know best in a situation like this.   We stay put!  Save money.   This doesn't mean that we'd lock up our computer and go away for a long while.   It just means that we are going to be very very very disciplined about our stock selection and setup.  Cutting the number of positions and sizes down to bare minimum is simply the way we go here.     Think of it as a challenge to us the professional traders.   

Some stocks recently noted...

CRNT, for an hour or two, this play reminded you what was going on earlier last week.   Yes, it's only Tuesday and already people are pushing for an IBD run-up.    We are following this one closely to see if there's enough interest on this IBD thing, it may just ignore the overall market sentiment fo the time being.    That's a big if, though.

LULU, this is a recent IPO we started playing off the UA earnings.   Again, when the market sells off hard, you pretty much want to stay away from everything.

Shippers, don't be fooled that this is the sector worth holding onto.   We think it's better to take some profit or trade them in a very short term fashion rather than waiting for them to get shot down like solars.   Momentum stocks can suffer pretty dramatically when overall market gets sold off.    Relative P/E on these don't mean much when they all have pretty much climbed over 100% last little while.

Solars, all eyes on FSLR eps tonight and AH result isn't very encouraging.    There's also a secondary overhanging this stock and we really don't want to speculate what the deal makers going to do if the stock gets sold off hard.    Basically, if FSLR gets sold off hard tomorrow, there's pretty much no point playing any other solar stocks. 

..just to bruise some more, this came out AH...The Wall Street Journal reports BSC already forced to shut two hedge funds that bet heavily on the risky subprime-mortgage market, is now facing big losses in a third fund that has roughly $900 mln in mortgage investments, according to people familiar with the matter. The fund, known as the Bear Stearns Asset-Backed Securities Fund, ran into trouble in July and has refused to return investors' money for the moment

Volatile but better action...

We have gone through many volatile session recently and today's just no exception.    We can honestly say that nobody that we know expected  smooth action post Fed Decision.    Despite of the fact that we closed well off the highs off the day, but we also closed well off the lows.    More importantly, we closed firmly into the green territory and that's somewhat reassuring.      At least the breadth is much better today compare to yesterday.    We have been concentrating on some of the familiar names most of the day and carried some position home for a change of pace.

Here are some plays...

MR, this old play came out with pretty decent earning last night and we managed to play some middle way through the day.   Again, this one is from the medical sector and the it hasn't taken alot of damage during the past couple of weeks.   This is a strong sign and today we just got an excuse to get on board some.

CRNT, from the look of it, this play is not over by any means.   It may have a pull back here and there but the further away it moves from $15, the better trading action it gets in our opinion.   

LULU, we chased some of this one today as it cleared previous high pretty convincingly.   We are going to be flipping this one very aggressively as we believe taking short term profit is as important as getting in a good entry on it.

LDSH, this one also cleared it recent consolidation range pretty convincingly today and with the help of this market, we think this one can get some serious leg under it.    Of course, just like everything else, market behaviour is the key  here.

LKQX, given its usual churning nature, this one actually did exceptionally well today.    We aren't chasing much up here but in case the momentum persists, we'd be there without hesitation.

.6 .6 .6%

Guess we should take those % gains from the DJIA/SPX/NASD yesterday as a sign from the devil that we are going to have a down day to follow.  It wouldn't be a surprise, but on the other hand that is what most expected yesterday and we just didn't get it.   The herd was playing catch up and the profit taking didn't hit till quite late in the day.  By this time, we were sitting pretty as we had done as promised before the open and that is, " we will be selling lots and lots of yesterdays buys before catching our breath and possibly repositioning".   The good thing about yesterday is the morning catch up lasted longer than anticipated and it gave ample time to sell and get a price.  The repositioning of the sells really didn't happen as the market slid too late in the day giving the impression a little more selling might continue into today.   So why reload at that stage, is our thinking.  Still, there were some stocks worthy of intraday plays and others worth holding to see what's further up possibly.  Also, instead of adding to stocks recently talked or alerted to the day before like the GS that went to a morning high of $207, EXM mid 48's, DRYS almost 76, BIDU almost 285, TNH to 123 which we sold in the morning...we went went after a MR late in the game because it was making another new charge to highs and because the Chinese stocks is one area that held up the best during the day.....

EJ, is one we keep on holding. Yesterday, we noted possible accumulation. This was even more evident as this one churned and rolled all day in even another tight range.  Either this a forward to ML's initiation or something else, or its just a fine piece of China making a dandy cup and handle.  This is not trading as before when volatility was huge, don't ever forget those days. A shakedown is always possible and don't all get shaky knees if it comes.   We've had a nice week and considering Chinese stocks are holding their own, like JRJC, MR its worth some more time.  As said before, we added back MR and as far as JRJC, we are only flipping it here and there.

LULU, MELI, and even WX, interestingly the recent IPO's had very nice days, actually some of the best out there and we have put these on our potential trading list.  MELI, is a new name here.  It got initiated yesterday and is of the foreign AMZN, EBAY biz nature.

GS, as a follow up to possibly hold a portion into earnings. We got a very nice price/ gain and after MS's report, we'd prefer to stay out and play it in the morning if they announce nicely.  For markets sake , we hope its great and so we can live with any points we might miss.

ICOC,  we'd just like to point out the concept here has always been playing the possibility of "IBD100 inclusion".  The main idea is finding and getting to them early and going big early into the $15 level late in the week.  Remember NGA, GTI, IDSA even SYX???.  If not go back to April, use search and see the prices we started and read up on the strategy.    So, if a stock is already at $15+ on a Wednesday, it really offers us little incentive at that price.   Also, do consider that a $15 stock with a beautiful run has been drummed around and pushed by either other stock forums, hedgies...or whatever and if they use the strategy as us in the NGA, GTI plays, guess what they might be doing here?.  Well, at least we would be dumping to newbies after getting 1-2-3-4-5 pts. We'll watch for now and if we get a nice dip we might add ..anyways, we'll see how it trades these last 2 days and deal with it hour by hour.

At this point, even if we didn't reload our sells late in the day, we'd look back to these names as soon as we see the buying of pullbacks starts in the market.  And it will as any dump will be seen as a buying opportunity for those who missed this move and think this market will be going higher in the days, weeks and months ahead.  Buying the dips in this market will again occur.

Petro-Currency

Growing up and then trading from Canada,  we'd never think we'd see the day the CDN$ reaching parity with US$....guess, they waited for us to be nice and far away for the historic day!..lol...OK...now back to the US markets we trade, a market we've had to greatly outpace just to deal with the greatly appreciating CDN$ over the last 6-12 mths.   Luckily our goal at DJIM is not to produce paltry returns in the single digits or the teens'. Anyway back to the pitch as the futball fans know it as ......living 3 minutes away from the Chelsea pitch on afternoon game day is quite the experience for any sports nut...or drinker!!

So...yesterday was hardly unexpected after the sprint we've had this week, the valiant effort of many to keep it where it was most of day was good to see.   Somewhat surprising was to see dip buying come in so early at times.    It would be a victory of sorts if we could end week basically unscathed without a serious short correction with the loss of momentum.   Despite the small caps, mid caps indices leading the way down in the afternoon, we were pretty well and running from the morning with our niche of players we had you following and hopefully trading.

MELI, LULU, WX, the trio we gave before the open outperformed anything and everything off the bat.   MELI steamed from the 33's to 38 and considering the force of the move maintained its lofty intraday perch and closed at 37 and change.  After 2 days of action, we know this is on radar now for those into a little action.    LULU and WX sprinted to new highs as well from the open.   If some of you want to trade broken down stocks and patiently wait and wait for the all mighty bounce....the best to you, but as part of the DJIM methodology says... look for the strong,52 week highs, which at more times than not is the easy play!.    These 3 had all these colors after their strong showing we pointed out in a market that was treading water the day before.  Wondering if Cramer put on some Yoga gear to demonstrate his bull-ishness on LULU last night..maybe a LULU thong or the LULU Hot shorts!.   Sorry to make you sick in the morning...

EJ,  we think we have walked you through this trade in the past week or so.   As we've been saying the accumulation is most likely a forward to Merrill Lynch's initiation of the stock.    In many a traders eye, the play could be over in terms of they got what they wanted this week and moved on.    The 22 level was a no a technical no brainer and was an exit door for some.   This is the one reason one should use charts, to use them as a guide to where you might find resistance or support for your stock.    The Merrill Lynch initiation will come today, we hope its enough to fuel this some more and at least get it on radar of more money.     Don't expect anything to send this to the moon though.   Just like pre-earnings runs, this might have been a pre-coverage run led by those in the know...we'll see shortly depending on the $ tgt ...if they give one.

APOG,   this one we bought into and as usual with it maybe a little early at 26, as it did its traditional yo-yo action on day of a good report. Every Q this one seems to beat and we were waiting for the exact action we saw later as this moved from 25' to high 27's intraday and finished strong.  The potential in this stock short term is in the charts. You can easily see the last two reports on gaps and then the follow through to higher ground.    Not sure why this got so beat up during the summer and frankly don't care after these earnings.    ----------------                Reports Q2 (Aug) earnings of $0.40 per share, $0.04 better than the Reuters Estimates consensus of $0.36; revenues rose 19.7% year/year to $217.7 mln vs the $209.1 mln consensus. Co raises EPS guidance for FY08, sees EPS of $1.43-1.53 vs. $1.50 consensus, up from $1.37-1.47; raises FY08 revs guidance; co sees revs growth of 11-13%, which equates to ~$887.1-903.8 mln vs. $877.17 mln consensus, up from revs growth of 10-13%, which equates to $879.1-903.1 mln. Co says, "We remain optimistic about our businesses and markets served, and are positioned to meet our longer-term objectives of 8% annual revenue growth and 20% average earnings growth through FY10. Our solid year-to-date earnings along with our strong backlog, commitments and bidding activity give us confidence in our ability to grow revenues and earnings through FY10.

LWAY, the chart was getting our attention the day before and the open, even on light volume showed us some potential....simple as that.  A nice move ensued and volume was pretty good on the day.   Hopefully, the chart came to a few more overnight and we will have some follow through action today.

LDK JASO MR ANIK ICOC GS ,   top out our trading list for Friday.

..unremarkable

but...considering the futures premarket and the somewhat grim, yet not horrible Eco #'s, the action in quite a few DJIM plays wasn't undermined. The market is finding some stability in the multi nationals and the dollars lows for technology stocks as if business will go on and prosper from the economies abroad.   This is all dandy but a lot of the action is institutions swooping up and dressing their books for Q end.   This should provide a decent vibe for the rest of the week unless some Eco' numbers come in and shock the markets.   If the energy and bank stock would participate, the majority with tech comprising the SPX and we would get a very decent up day before the Q ends.   So trading life goes on and opportunities are presenting themselves daily with the niche we cover.  Yesterday, we had good action from the usual suspects, besides the shipper and solars , a few nice breakouts continued in those that lagged or consolidated the most recently...notably GRMN (a buy $125 by DB this am) and CROX.   There is a lot of froth reminiscent of bubble and pre holiday trading running rampant in the Chinese cheap speculative stocks..sometimes this is a sign of a pin coming to burst a bubble.    A big IPO(bank) in China didn't get the usual response of a huge first day.  A modest response at best with a 30% up trading day. This might be something or its just a fact of the investors having many options to put their money at work in similiar stocks.  We'll see if this all adds up to something in the short term for the Shang or this these thoughts are a much ado about nothing.   The forum is free to use if you want to post the speculative China runners, but we won't be writing about them in the Journal as it doesn't fit into many of the subscribers wants and needs.   Most here don't have the capabilities to trade these in a timely and efficient manner in a day trading mode.

Away from the 'usual suspects' that should continue to provide trading opportunities, we will be looking at a few names early...

ICOC and LULU, we like the way these traded in the afternoon and will look at them early on to enter.

CDS,  we are fine with going with the China cheap momentum and so this issue may continue to get momo, but we do look at these plays that emerge from other groups, such as this that originated in Briefing as an opp' to flip quickly or be flipped on in the first couple of days of it being discovered and spread around.   Basically..at one point during a rise you are riding the coattails of those already loaded up and ready to dump on you in most instances as the herd comes in after getting wind of it.   It is not only the ones that first make it public in a group that load up before, it is also and may be the same loop that buys the stock ahead of the AMEX listing in this case and then breaks this stock to the public that will be the first out.  So, the mentality is 'trade it' till your blue in the face or till your pockets are full of the green stuff, but we are here to also give you a glimpse and an education of what we have experienced in the 'underground' trading world.  Just keeping those not familiar with such listings on their toes. The difference here is the thirst for these China cheapies that may carry this.  Good timing you could say.  

A while ago, we introduced FTK (Flotek industries), the morning before its listing on the AMEX at our old grounds, the stock has launched to ~$45/5X its purchase price that day..simply it was at right time at the right place with the oil sec plays in high fashion for months ahead...so this could be timed right as well.

...Mirage

A mirage..that's all this summer subprime crisis was!. A big head head fake just for some to buy lower and then have a meteoric rise to new heights...distortion created with lots of blowing of cold and hot air!. Okay, maybe not completely true but how else do you explain this recent rebound, yesterdays possible breakout moves off what could have been perceived as bad morning news.  The subprime news, the Citigroup headlines had no impact on the markets.  When was the last time we saw this?.   We've turned on a dime with every headline from this front....but not yesterday.   This is old news simply and the market wants to get on with earnings and what is generally the best Q in the markets.   A beneficiary of this market was plain and simple to see, one niche was the DJIM covered plays that blew past the competition.  A simple point to our trading methodology is to have a sane niche of stocks to follow, not an insane number that can't be watched closely enough to recycle. This is why we have a watchlist/play list that we hope you follow.    It saves you time and money.  Yesterday was a day for our beloved..

FSLR, an alert last week to a potential breakout move this week was the solar play to be in.  The other two we closely follow, LDK got 'briefed' to death yesterday on it's equipment pushouts,  JASO did nada and is selling more of their ADR's this morning.  If you shadow our plays, you saw we were only on FSLR back at this time.

GS, noted the tight range of trading the previous two days in yesterdays Journal.  On a good market day these ranges can balloon to the upside and this is what we saw here.  We are about collecting points and not the % gain, so to us this was up to a 8pt move yesterday. With FSLR and GS there was almost 15+ pts from our final remarks on Friday and yesterdays morning Journal highlighting them.

DRYS, EXM continued forward to new highs with some IBD print on the sector and a couple of price upgrades in the morning. TBSI got back in the hunt and is close to highs.

MR, EJ, moved to new levels and JRJC proved to be a worthy trade for those familiar with it.   Now, we just ask WX to get some game and it will have our most recent China plays on even ground. Oh yeah..where was BIDU yesterday?.  Lets no forget this rocket ship when looking for a good intraday trade.

VMW, we don't cover much tech, but VMW has been the one we have traded the most.   Finally..this one is acting with the sector which is leading the recent parade and not playing on its own terms. $90+ is in reach now.

ROS, GLDN our Russian telco plays are not be forgotten as long as they cling to highs and therefore offer more upside potential in the near future.  WBD moved to 114 intraday after it was noted as a possible reversal play from 111's. This one provides some volatile thin action with some large spreads. the worst thing you can do is put in market orders in this play.

ANW, LULU cover the ipo watchlist here.

LWAY, we don't know what rumor was out there but this recent play was a hurricane yesterday. Congrats to any that have held through. Yesterday was exit day.

CSCT, the chart looks good but we have to keep mum on OTB stocks or we will have a flood of them on the forum. Sooner or later a bad one be printed on the forum and will cause a few to drown, so we try to avoid till they are listed.

As important as finding the right and easy plays, it is just as important to think out load and give our thoughts on plays like SSTR, even if you won't like it.  We're not talking about your Mama, we're talking stocks here.!    Hopefully, we saved some of you some cash yesterday.   Anything could rebound, we just have no interest at this time.  

We'd also remove GRMN off our watchlist. There are too many unknowns here now.  Last week gains look like a set up to the news yesterday. Those shorts got something to cheer about yesterday.

This probably covers 80-90% of the plays here recently,  if you don't have all day to peruse the entire stock world for plays then this list is all you need to carry you and your book.  It's not a lot of stocks.  This is just a reminder and for those that are new here.   Days like yesterday are the icing and come around quite a bit.   Just have money on hand for fresh stocks this new earnings season, as we noted in our last alert.

Bulls on 'roids and Pigs can fly..!.

Those seem to be facts now!.   This is what we saw yesterday as the Chinese bulls roared off the Asian markets, even when left at home alone with the SHANG on holiday's.    With every Bull shot there is a pig in it's footsteps.   Meaning speculation on junk ones was wild and you need to be careful at this probable late stage in the game.    Back at the ranch, the market was doing better than expected with not a lot of profit taking.   We added this footnote to a post before noon,  "Considering yesterdays action this hasn't been bad at all or meager for the small caps /RUT been green most of the day. Bunch of those sorts here having good days WX EJ BIDU JRJC LULU MELI ROS GLDN FSLR EXM TBSI..AZZ might still " .    The day turned from good to very good late in the session for these stocks and a few others like GS, VMW, CSCT.    The market continued to trade sideways and finished mixed, yet for consecutive days now, we were in the right place at the right time.     Hopefully, our morning Journal steered you back home if you've strayed!.     This was the true Bull shot of the day, the DJIM index.    There is really not much to say heading into today trading, except that hopefully we all played these shooters smart and took some off the table.    This is especially true with the gains generated by the Chinese stocks covered here.    Even the good ones will get nosebleeds.

A member noted and what is probably a good way to understand the Journal is to see it as us thinking 'out load'.  One thing is to shadow plays, another is to shadow our mindset, which is probably the better way to go.     We can't give buy/ sell advice, all we could do is show what we are buying and thinking.    Hopefully, it rubs off on you and improves your trading ways.    When we noted yesterday.."Now, we just ask WX to get some game and it will have our most recent China plays on even ground. Oh yeah..where was BIDU yesterday?.     Lets no forget this rocket ship when looking for a good intraday trade.".    You need to ask yourself why are we even mentioning these two that under performed the day before.    Simply, we are thinking ahead and with a big overnight Asian market these just might come out and play with the rest of the kids.   Trading is so much a psyche game, you need to think ahead and think what others will or might do.   Your gig is to get there in the early stage or even ahead of the herd.   We gave the below leads yesterday, clues into where we might be leaning and why.  All you needed was one or two to have an excellent day.  The language is simple and we'd all should have been prepared..

TBSI got back in the hunt and is close to highs.

VMW, we don't cover much tech, but VMW has been the one we have traded the most.   Finally..this one is acting with the sector

which is leading the recent parade and not playing on its own terms. $90+ is in reach now

ROS, GLDN our Russian telco plays are not be forgotten as long as they cling to highs and therefore offer more upside potential in the near future.

WX and BIDU( wasn't all JPM initiation), it was a matter if you build it, they will come!.   The build up was the overnight markets and these were prime candidates to play in the mud with the others.    Anyways, yesterday was a day for us to daytrade these high flying Chinese stocks and it occupied most of our day.    Now, we need to get back to basics and deal with reality and concentrate on the others like GS, FSLR, VMW, AZZ etc.  The EPS winners and ones to come and the potential set ups that we can all get in early on. 

We all need to be a realistic after two days of solid gains!

..Off-Roading

Hope you had yourself a good 4X4 yesterday for all the crazy bumps and bends of the market pounding your kidneys!.   A good seat belt might be in order not to get dismounted as the noise from all headlines is over bearing the earnings reports from the big names at this time.   As we said before the open yesterday, we can't do anything about the noise and just have to go on trading what is in front of us and hopefully working for more than a day trade.   Despite the jitters still prevailing in the market arena, opportunities were still there on the stocks we've been tossing out...

WBD,  ...this was one stock that required no seatbelt yesterday as it glided avoiding all the potholes others were encountering.  Just the day before we noted its $110 top and the moon shot came of 10-11 points from the top break.   This might have more legs as it made a NCH, but we know it's trading history well and always put days like this in our pocket and dismount.  We'll be back, especially if it holds these levels in the days to come and sets up again or if it shows signs of working the NCH higher.

"Another one followed here closely all the time because of its volatility and ability to shoot a moon shot intraday is WBD, the Russian dairy/beverage co.    It  had a beauty of a walk up Friday as you could see by the intraday chart.  This one could give it up just as quick always remember,  but the way it was ladder walked for 5 hours makes you wonder what's up.     It never trades so orderly. "

YTEC, now you know why we said this has momo trade capabilities.   The quickness and steepness of its late day charge shows what we might have on our hands here,  with it you have to accept the early action as a characteristic of such stocks.   Just have a barf bag in your 4X4 handy.  This China IT and outsourcing co' has a knack of reacting nicely to any news it throws out.    Considering their business is with the thriving bank business'',  you can expect this stock to be a possible PR machine of contracts that will jolt it constantly.     We noted midday these momo stocks do not play to a schedule, meaning if the indices are popping it shouldn't be a surprise they are not following along as we saw in the morning and then eventually an eye popping move late in the day when the markets were struggling.    As far as its fellow country bud, JRJC,   it basically followed the path of BIDU and many other stocks gapping and then steadily coming down.    The reason we book this with BIDU, is its in the same universe you could say.  It's from China and has the momo trading flavor of BIDU type...simply after its recent ride we know its capabilities to move and draw attention of traders just like BIDU has over time.    The 60min shows higher lows, a clean and jerk over $40, meaning a good close over $40 would give this a nice looking daily chart and most likely some much anticipated action again.    The risk should never be forgotten with momo stocks, we've also seen this side of JRJC.

The other names we are trading and/ or top of the trading list are all familiar DJIM names.... EDU CETV HMIN LULU BCSI GLDN VMW JST.  RBN off EPS and VMI, always seem to appear here after earnings and both do so again.

Even though trading opp's are all over the place, a day without some many bumps in the road would be a welcomed sight.....Yeah, right..as if!

Shaky Start and a Steady Finish

Although it's still a little too early to write off last week's action, we are definitely off to a pretty good start this week.    Monday always sets the tone for the week, doesn't it?    Ok, superstition aside, we are glad to see that there was no follow through to last Friday's sell off today.  Another big fat red candle would not have been a pretty sight.    Even though some of the names on our watchlist felt a little shaky in the early going, many of them all ended in a very rosy way.    This is somewhat reassuring because we didn't want to see last Friday's ugliness get carried over into this week.   Momentum can get built up on the downside just as easily as on the upside.    Honestly, we still couldn't see the reason why the market was sold off that hard last week.    Many of the issues the market pundits were calling for were known for a while and there is really no quick fix to them.    Still, we have been managing to live with some of those issues(credit crunch, high oil, low dollar) for a while now and most importantly, fed has been willing to pump liquidity into the system and adjust the monetary policy when any unfavourable situation does arrive.   What's the big worry?    If you believe the entire stock market and corporate profit are centred around the housing market and high oil price, then you may have already parked your money in t-bills and shouldn't even care about this market.    For those of us who trade names like AAPL or RIMM GOOG BIDU , things don't get any better than now.

The point is, this market is not just about the 3M or CAT or BAC.   There's a bull market in quite a few other sectors and that's what's keeping the game alive.    You can also argue that there's just so much liquidity out there that there's always institutions looking for some hot (growth) area to invest.   We just have to be on the same page as those money managers.

AAPL delivered a nice report and should benefit quite a few momentum names.

CRNT, this plays has been on our watchlist for quite sometimes now.   Today the company reported earnings which beat the estimate and it also raised guidance for next quarter.   Stock saw a flurry of buying and ended near the high of the day.   We really like this kind of earning reaction and we are playing it fairly aggressively.

LULU JASO ISRG HMIN, these three have traded to their recent highs today and we particularly like their action compare to some of the other names on our list.    For the sake of momentum, we think as long as the market shows some favourable action, you'd want be trading these names aggressively.