Futures Pointing to a Higher Open...

10:51 am ET - We took just our third futures position in our Learn the Discipline Model Portfolio (see Learn the Discipline in the left had column for complete details) this morning...we bought 10 NQM9 contracts at 1,360.75 at 8:06:54 am MT and sold for 1368.75 at 8:48:57. This was a gain of 8 points times 10 contracts or a net gain after commissions to the Model Portfolio of $1,530.00. If this type of trading is of interest to you see Futures Trading in the left hand menu. 9:37 am ET - Financial stocks XLF and Consumer Discretionary XLY are the early sector leaders this morning... 9:32 am ET - Financial stocks FAS, ZION, BBT, STT are strong at the open...ORLY, WYNN and AT the Open stocks are following through at the open... BMO - ES +7 and NQ +9 futures are higher in pre-market trading and pointing to a higher open. Whether the market follows through or pulls back look for the SPX range to expand from 18 on Friday...this has been happening in recent months on the Monday following expiration Friday...this represents potential opportunity regardless of direction. Notice on our At the Open List almost every stock had a small candle at support on Friday, all set up for potential support bounces. It would be very easy to add another several dozen stocks to this list this morning...so if the market does follow through to the upside the list should be packed with potential opportunity... (click image to enlarge) At the Open on Monday SPY –black spinning top KOL – inverted hammer FAS – black spinning top STT – black spinning top ZION – black candle EBAY – doji ADBE – black spinning top WYNN - black spinning top SCHN – black spinning top SNDA black spinning top JNPR – white spinning CTV – black spinning top BBT – hammer breaks high of low day OSG – black spinning top EL – doji ICE – black spinning top WHR – inverted hammer VAR – bullish engulfing RIMM – inverted hammer FWLT - bullish engulfing CTSH - large white candle ORLY - large white candle outside day