Thursday, March 31, 2011

Update and watch list for tomorrow...


With $OIL spiking up big pre-market; I figured that the low float oils ($ROYL, $LEI, $BDCO, etc..) would be in play. $BDCO spiked right out of the gate and I decided to play the "bounce" by playing $ROYL. I wished I had gone with $BDCO which unlike $ROYL followed through but hind site is 20/20. As soon as I was certain the spike in $ROYL was gonna fail I moved my stop to break even and got filled for a flat in seconds. The best trades rocket out of the gate and never look back! I only lost commissions on this trade. There were a few other nice plays today that worked nicely. The best two were $HYGS (red/green and $6.00 break out...spiked just past $8.00!!) and there was also $MCZ which broke $2.09 major resistance and then spiked as high as $2.22.


With the markets running straight up for the past 11 days; I am short biased in the near term. My favorite set up is easily $VHC which after running parabolic for the past 9 days along with markets had a red day today. Here is the set up along with a few others that I will be looking at tomorrow:

Those are my watches for tomorrow. Good luck and good trading!

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