What would a morning be like without some trading software problems:) When TradeStation is working smoothly its great, but unfortunately it has problems way too often.
Their refusal to upgrade their software to 64bit is criminal:)
The stock market is down again this morning and the calls for a major correction are getting louder. Remember, when everyone else is fearful its time to start getting into the market.
We have not reached that stage yet but if the tax bill goes south we will be there very fast.
Of note, everything is in the red except TLT. So let’s see where breadth is and make some trading decisions this morning.
We are getting into an area I am going to consider more mean reversion trades. I have a few ideas in mind but am in no hurry right now. A sharp down move any day now will get me in the mood:)
I got out of UNG yesterday with a nice gain. We are still holding 2 mean reversion trades along with a system trade.
Our daytrade yesterday never got going to speak of and we exited with a push on the trade.
I will be around for another trade this morning. Typically you can find me the first 30 to 60 min and can communicate through Skype. My user id there is riccja
If you want to follow some of my trades along with my thoughts typically given after the open you can go to @rickjswings. Typically I talk about the overall day expected with the markets and also give some levels on the ES and NQ for failed breakout scalping.
It’s my private twitter feed for the stock market and its free. Sports Handicapping is the subscription-based part of this site. But considering the cost of joining it’s almost free:)
Good Luck Today
RickJ’s Handicapping Picks