Morning Review and Top Long Pick into The Weekend

I wasn’t able to trade the futures this morning as I was never able to give the market my full attention.  In hindsight, we had a gap-and-go open, sometimes referred to as a pro gap.  Traders shy away from fading this type of open due to their strong directional conviction.  Therefore, if we close near the low of the day, that’s unexpected, and reason for concern.

New longs were initiated today in WETF alongside The Fly and LEDS alongside RaginCajun.  It’s not that I don’t have any quality ideas, but sometimes a ticker gets brought up that I’ve been stalking for a long time, I revisit the chart and see a clear level of risk and I take the position.  The key is to own the trade and take full responsibility for managing it.  It’s astonishing to see someone follow a trader only to cross their fingers and get high on hopium.  It seems to be occurring quite a bit lately…

You can hire brilliant analysts with the best tools in the industry but you can’t win if your decision making and execution are weak.

Enough of that, TOP PICK:

Right here right now HMIN – this stock gets legs over 30