Tuesday Pre-Market

The Big Picture

Overall healthy markets around the world with the US following this morning. SPY is currently trading around 125. Will look at the current highs of 125.23 as a meaningful level to break. Should we fade a little in the pre-market, I'm looking for buying to come in around 124.90 and then 124.60.

Pre-Market Watchlist
  • ADBE - earnings 
  • CCL - earnings
  • JBL - earnings
  • INCY - news about their drug
  • MEE - seeing strength - ANR making a bid
  • Other stocks: CHK ACI ANF MTL WFC SNDK, PWER
Notes: Yesterday, I put myself in a lot of trouble buying too much "before the Christmas Sale." As a result, I ended up down a little over $300, losing that much in LVS alone. Today, I'm more prepared as far as the market goes. In terms of avoiding the bad, keep away from overbrought stocks and wait for the consolidation. If something is going to move 5% without me, then so be it. I'm looking to increase my winning percentage and to regain my edge back. Other than that, I have to be careful of where I'm taking risk, including adding into a position. At all times, every trade that I'm looking for asks for an upside of 5 for every 1 unit of risk. Trade 'em well.


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