Stock Trading Pt2
Daily Stock Report for Monday Morning, November 30
, 2009 pt2
Summary Opinion As stocks move higher or start to turn over, reduce risk by gradually selling stocks as they move up. Raise more cash, hold stocks long that are still going up and for aggressive investors, consider selected short positions.
CalendarMonday, 830am ET, Existing Home sales. Tuesday, Gross Domestic Product (GDP), 2.9%Wednesday, Weekly mortgage applications Weekly jobless claims, Univ Michigan Consumer Sentiment, New Home Sales, Crude Oil Inventories Thursday, 830am ET, Initial Jobless Claims, 504kThursday, 830am ET, Continuing Claims, 5.70M
Follow-up: SEED, Origin-Agritech See notes below and video review. NLST, Netlist. See notes below and video review.
Focus chart:
NLST, Netlist is starting to correct with lower lows and lower highs but consider covering this the next couple of days if this doesnt start accelerating down to the low $5s. If this goes sideways or what we call consolidating, this can easily move up to a higher high and put you into a dangerous situation if short. Although this came from $1 just two weeks ago, these low priced stocks can easily move higher
Again, use very small short positions and study this in the Wizard Training Course first. This is an advanced technique that requires high risk tolerance for experienced traders.
Swing Trade Ideas: Delay purchase of all new LONG positions. DRYS, Dryships is a dry bulk shipper. Consider small long position between $5.80-$6.00.
Mitch King
www.TradeStocksAmerica.com
Contents: online stock trading, trading strategies, stock picks, stock market education, stock market investing course, educational stock trading videos, stock trading newsletter, stock market newsletter,
Mitch King is the founder of TradeStocksAmerica.com. All material presented herein is believed to be reliable but we cannot attest to its accuracy. All material represents the opinions of Mitch King. Investment recommendations may change without notice and readers are urged to check with their investment counselors before making any investment decisions. Opinions expressed in these reports may change without prior notice. Mitch King and/or the staff at TradeStocksAmerica.com may or may not have investments in any stocks cited above before or after this newsletter is prepared. Use the stock table above as a model portfolio of ideas that look attractive at the time of the writing. Comments can be hypothetical in nature. Opinions expressed in these reports may change without prior notice. Disclaimer - Stock investing or stock trading has large potential rewards, but also large potential risk. There is risk of loss as well as the opportunity for gain when buying or selling stocks, bonds, option contracts or engaging in any strategy listed in the Daily Stock Report, The Wizard Training Course, The Trading Room and our seminar or workshops. You must be aware of the risks and be willing to accept the risks when investing or trading in any financial markets. Don't trade with money you can't afford to lose. This website is neither a solicitation nor an offer to Buy/Sell stocks. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this website. The past performance of any trading system or methodology is not necessarily indicative of future results.
by: Mitch King
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