Are you nervous this morning 90 min before the stock market open:)

Another wild day on Tuesday in the stock market. If you are not position sizing correctly your most likely dusted by now. That the nature of extreme volatility. It matters not if you’re the best stock picker in the world. If you do not get your position sizing correct you will join 90% of the poker players that play higher than their bankroll allows them.

This morning we are gaping up about 1/4% premarket. Boring:)

To note premarket metals are in the red. IBB and financials both positive. A slightly positive bias 90 min before the open.

The social media companies are finally being brought to task. Taking sides in political fights as many businesses have found out has reached social media now.

TWTR was off around 11% yesterday and FB has been plummeting like a rock. And we are at the very beginning of Congressional hearings, an FTC investigation and the UK is investigating also.

I doubt it will be pretty. When the smoke clears I think you will be an entirely different landscape in social media. Most likely there will be a shakeup in the biggest players. But its too early to tell right now as we are just getting started.

Myself, I would not want to own social media stocks right now. I have a reasonable idea that the investigations have the potential to produce some damaging findings. And they are already getting crushed!

When will CEO’s learn? SJW is fine for citizens but for companies that produce products and services to the entire population, its a breach of their fiduciary responsibilities to their investors. And it looks like in this instance they will pay dearly for it. Breach of trust of this magnitude is very difficult to recover from.

I still have my mean reversion trades as I did not get my trigger. I doubt it will come today as we are back at the lows. As far as adding, it would take another nice dip to get me interested.

I exited my AMTX trade with a 10% gain yesterday. This has been pretty steady for a 2.00 stock. It’s been amazing me. I have been trading the range of 2.00 to 2.20 but now am going to lower the range 10c to 1.90 as we are hitting that number with regularity now.

I will post any trades I make over my private twitter feed @rickjswings

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

RickJ’s Handicapping Picks

https://rickjshandicappingpicks.com/investing

Skype: riccja

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