BMO – ES +2.50 and NQ +6.25 futures are higher about 70 minutes before the open in pre-market trading and point to a higher open on Thursday…volume is light for pre-market with slightly more stocks quoting up than down…Financial stocks, XLF is quoting up 3 cents on 200 volume in pre-market…
FSLR +9.89 is gapping up…
TLT is up 25 cents and the Euro is up 22 pips in premarket trading …
NDX leaders AAPL, BIDU, GOOG and PCLN are quoting higher on light volume in pre-market trading…AMZN and NFLX are lower…QCOM is unchanged…
Dave’s Insight for Thursday: Stay with your support bounce and breakout trades according to your rules…Exit and move your stops up to protect your profits as always according to your rules…Expect momentum to continue to slow as we head into the weekend...enjoy quarter ending window dressing…follow your rules, take trades accordingly … Continue to watch XLF as a key factor for support bounce continuation…Get ready for a 3-day weekend…
SPX
Resistance: 1,310, 1,321, 1,330
Support: 1,300, 1,288, 1,278
Quoting Down – ATI, CAM , CRM, FFIV, GES, UCO, AMZN, APOL, NFLX, VOD, DLTR, FFIV
Quoting Up – FSLR, GOOG, EBAY, MCP, SINA, CAT, DE, CLF, TSL, V, TLT, GS, QGEN, CTSH, NTAP, AAPL
6 comments:
Dave:
Thanks
Robert
CANI_212
Dave, I noticed that you pointed out FSLR with the pre market gap up. Could you take us through your quick and dirty disciple of what you do for market prep each day? For instance, how did you find that about FSLR? Was it from the Investools page? or news? or just somehow going through your watch lists? I know a number of your students would be interested in your morning routine so that they could incorporate some of it into their pre market prep. ...Thanks so much and have a great 4th holiday. Scott
Dave, Thanks so much for the generous insight to the markets that you share with us.
I have wondered much like Scott what methods you use to gain that information, specifically how you find stocks that are forming flags.
I doubt very much that you are combing through the entire market looking at charts to see flags. Are these stocks you routinely check in a watchlist or do you have a search that brings up potential flags, or some other method?
Thanks again for your help. Enjoy a wonderful holiday weekend with family and I look forward to seeing you in Las Vegas. My bags are packed and I am ready to fly.
Nellie Pritchard imnpritch@gmail.com
I have a web site where I give advise on penny stocks and stocks under five dollars. I have many years of experience with these type of stocks. If their is anyone that is interested in these type of stocks you can check out my web site by just clicking my name. I would like to take a moment to talk about low price stocks not classic penny stocks or stocks under one dollar the term most people most often think of when the word penny stock is used. The single most important thing that investors must realize about low price stocks or stocks under five dollars is this’ their are companies of really decent quality trading under five dollars’ but for every one company trading under five dollars that is of decent quality their are maybe ten of poor quality. So the really big difference between those investors that are tremendously successfull when it comes to investing in low price stocks and those investors that lose enormous amounts of money investing in stocks under five dollars’ is having a great deal of knowledge and experience when it comes to low price stocks’ or having a total lack of knowledge and experience when it comes to low price stocks. Finding quality stocks under five dollars requires a lot more research than finding a decent stock above ten dollars.
James Moylon,
Please don't advertise your "service" on Dave's site. In my opinion, an ethical service wouldn't consider what you did.
Just an FYI, any stock under $5.00 mutual funds and other big institutions are prohibited from buying, thus NO VOLUME. Without volume there is no momentum. There is a reason Dave and other great traders have rules about price and volume of the underlying they are trading. I agree with John H, cheap shot on free advertising, but what he fails to recognize is that Dave's followers are smarter than that.
Have a great holiday weekend everyone. Thanks Dave for all you do for so many! You are appreciated admired and valued beyond words. Happy 4th!
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