BMO – ES +7.00 and NQ +18.00 futures are higher about 15 minutes before the open in pre-market trading and point to a higher open…
TLT is up 8 cents and the Euro is down 54 pips in premarket trading and is near horizontal resistance …
POT is up following a 3 to 1 split…CRM +12.43, +9.25% is gapping up following earnings after the close on Thursday…
NDX leaders AAPL, AMZN, BIDU, GOOG and PCLN are higher in pre-market trading…NFLX is lower…
Dave’s Insight for Friday: Continue to re-enter according to your rules. Enjoy the support bounce in the direction of the trend. Today ends week eight and time to evaluate your trading progress after the close.
SPX
Resistance: 1,321, 1,330, 1,338
Support: 1,311, 1,300, 1,281Quoting Down – FSLR, NFLX, CHRW, LRCX, IPI, DLR, FAZ, HLF, NETL, CSTR, JEC, ARUN, NDAQ, ESRX, KLAC, ILMN, HSIC, FISV
Quoting Up – POT, CRM, DECK, CMG, FFIV, PCLN, GOOG, AAPL, WYNN, ADSK, BIDU, JOYG, MICC, AMZN, BA, PCP, MA, DE, SINA, CF, WLT, CLF, VMW, AGU, MOS, SWKS, ATI, FCX, SLB, SOHU, RVBD, CAT, X, MHS, HANS, NTES, UCO, SLW, FAS, FDX, JDSU, CREE, SNDK, DOW, CRUS, NVDA, PCX, STI, MCP, V, JNPR, LDK, UAL, VLO, GS, SMH, AKS, LXK, CAM, VRTX, RIMM, BRCM, NTAP, ADBE, AKAM, EXPD, ALTR, CEPH, QCOM
4 comments:
Good morning!
Thank you Dave. Looks like a lot of my setups are going to get filled this morning!!! I just need to manage the trades well with this kind of market. I'll continue to follow your guidance. Have a great morning :)
Yuko from Vancouver
Good morning Dave - Last nights session was excellent - I am following my rules to success
Problem with Friday's close: almost all the stock had a close above the high of the low day. I can't enter all the stocks on my watch list. ;-(
Steven R.
Dear Anonymous..are you saying that there are so many entry signals for you to chose from? just wanted to see if I understand correctly. If so, I usually think it's a nice situation. Here are some things I've noticed to help me chose between two bull flag setups that otherwise may look identical. #1 If one is closer to 30 day moving ave and one is extended from that. I found that (as basic as it may seem) flags that come down close to their 30 MA have a better chance of working then those that are very extended. #2 If the stochactics are WAY down on the last few days of the flag pullback. Better chances for a bounce. If a setup has both those criteria it's usually effective. #3. Then if all things being equal I look to choose stocks that A. Have a penny spread between bid/ask price..B. Have dollar wide strikes..C. Are closest to my ideal price level which affects my money management in terms of how many contracts I can buy. Hope that helps....Scott
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