Nasdaq futures are quite a bit higher overnight, far outpacing the performance of all other major indices. As of this writing, we are set to open about 50-to-60 points higher on the /NQ_F futures. Pre market we had Durable Goods Orders and Jobless Claims which brought more buyers in, however most of the overnight strength is being attributed to earnings.
We are now above the midpoint of my proposed bracket range on the NASDAQ meaning the risk of being long is greater than being short. At the same time, our intermediate auction continues higher.
These big overnight gaps can often create a frustrating day trade environment. Risk is elevated because the market is clearly out of balance. Often it is best to do very little, instead managing existing positions and carefully looking for rotation opportunities into stocks that have not run.
I highlight my primary upside target for the Nasdaq on the following intermediate term volume composite:
I am using a 24-hour market profile this morning since we had so much overnight action. I want to see the footprint this action left and look for high opportunity levels as well as envision how today’s profile may take shape. I have highlighted these observations below:
keep an eye on END, Sir Raul..
(I was going to post on your attached Doors music blog entry but became sidetracked)
I did avg down(did not post entry) acquiring a nice size lot here:
04/15/2014 YOU BOUGHT
END ENDEAVOUR INTL CORP COM NEW
Cash Shares: +* Price: $2.73
as mentioned I was early on buy back at 4 and add at 3.50
but that’s OK..
*this one can be a popper and dropper, as well..yeow!~
that’s a good one Sooz, I am keeping an eye on it but also not shopping for many new deals right now, just managing the positions I have.
Eddie L..
Rah~Rah!!
posted many good trades here(ideas) on the fan~tabulous Sir Raul blog over the past 28 months…not to mention a few 50~70% within the pasts 7 days..
Very Much the Truth!
Were you ‘Got Damn'(sic) listening?
Man Oh Man..I really do give up here.
note to RC..
I am a daughter, sister, aunt, ex~wife..;) ,mother of 3 beautiful children (19yrs. old Freshman at IU.., a just turn 18 yrs old Senior and a soon to be 17 yrs old Junior. I am solely responsible for all three of their higher education..CHA~CHING!! therefore I’m working my a$$ off here) and last but certainly not least I am a good friend.
yeah..
http://youtu.be/9Bl32n6-JXc
here’s a snip~it from realized gains in Feb off that ‘Stoopid'(Mr. Partridges words..not mine) trade UVXY..posted here..yup!
Feb 2014 +76,554.25
I get really Po’ed when someone reads these pages then proceeds to take it over to ST and banter about the foolishness of the trade.
pretty good huh?
just scratch that post in moderation..
at the very least have a little respect and understand that everyone that contributes here is ‘Not’ a man..
~Sincerely Soozy
What’s rubbing you wrong Sooz? I missed it. We don’t discriminate over here, you know the Raul tab is for the ladies.
Keep up the great work, Sir Raul.
You know I’m pulling for you, always.
It’s been a rough few weeks around this joint. Maybe time to take a break from the blogosphere. For certain ‘No’ more posting trades for awhile. Time to MOoooove on from this gig. It is great to interact with others that do what you do but only when it is CONSTRUCTIVE.
I really do take it to ‘HEART’ when I see fellow traders take a hit. We’ve all been there, yes!
Have a great day and wonderful weekend,..be safe.
I am a Bull..always.
My brain does not think like a Bear..
I don’t short stocks other than playing inverse. I have written call on older stodgy positions that I’ve held at a much lower cost basis and do not plan to sell(div port). That’s about it..just plain and simple. Mostly position trader which sometimes(as proven these past few weeks)has been more swing trading. quick in/out and as of late lowering cost basis(some raising cost basis eg..FB AAPL).
*calls
I’ve been around for awhile, believe I’m a half~way decent trader/investor, and with a little ‘Luck’ I hope to stick around for a little longer.
Although..there are plenty of days that I wish I was a ditch digger.
one last note:
I got in the habit of posting trades(years ago) because it became a constant everyday occurrence that others(pickr pals) would question my trades. Basically calling me a Liar Liar Pants on Fire..haha. It became time consuming/distracting. Not that I have to prove anything to anyone except myself..
But I will tell you..I really am one of the most honest people you will most likely never meet..and people that accuse others just for the sake of being an AH are really pitiful souls.
…and they come here and read this blog most likely everyday..
😉 ))
Truth..the carry over from these pages to other sources is remarkable.
on a more uplifting note if there can be one at this time:
The kids in Btown paid this guy a few thousand bucks to join a their Frat party which was hosting my daughters sorority..
((FUN)) being a kid..
I thought of you Sir Raul..
A little Ghetto Rap(I think you’ve posted this music vid before?)
Anyway..now I cannot get this tune out of my head so therefore it will become my theme song for the day.
http://youtu.be/WkkC9cK8Hz0
L-I-V-I-N, don’t hesitate to invite me next time we have a private party w/Waka Flocka Flame up in it
*oopsa there..
join their Frat ((Party))..scratch the ‘a’ there.
(few nights ago..Wednesday)
It is of my most humble opinion that the Bulls are ‘NOT’ going to give up so easy..
Corrections can be good.. they afford opportunity(unless of course you bought at the top) Last time I was 100% invested was probably 2006(when some of my bank holdings began falling to hell). Since then I’ve always have a certain % cash sitting around just waiting to deploy.
Never fun to watch ports sell off in core/what you believe to be solid investments..
I have a list of equities that I have on buy back/add list.
*had ..
sorry bout that..need to edit
retract that..going into and through June 2007..(my children and I were vaca in So~Cal at the time..sh!t…apropos since some of those holding were based there)
yeah..like a Blurr
Also..
If (by Chess prediction based on chart..combined with people losing their lives over a 50 cent ignition part) GM goes back down into the 20’s then this market could very well be facing death spiral once again.
Cannot say that this will not happen(who knows?) but I have huge doubt.
Those from south and west may not be able to relate to the record breaking bad~ass weather we had here for 4~5 months non~stop. It is not a way to explain away soft numbers..give me a ‘Got D@mned’ break. I don’t know about you, Sir Raul..but the very last thing I was wanting to do at deadly sub zero(well over 100 days/nights of them this past winter) was to slip my outer wear on and go car shopping(((haha))) or Clothing shopping or any kind of shopping for that matter.
I had a hard enough time keeping up with clearing the drive and walkways.
should have bought Co’s..that supply/make snow~blowers..
bet their sales will be record breaking.
😉
I prefer looking forward rather than in my REAR VIEW mirror when I’m tooling up the hwy..