subject: Stock Trading Pt2 [print this page] 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.
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