Stock Watch 3.17.11 ” March Meltdown Madness”
I had too much fun trading on Wednesday.Seriously, you shouldn’t have that much fun making a living. Trading is the best job in the world. Allthough we are only half way through March may be remember for it’s massive meltdown. The market is so fragile that a recycled story sent the market down a 150 point in 10 minutes. I love when traders panic because that’s where the big bucks are made. With the violent whipsaws and high volatility keep you risk low and your stops tight. Avoid the meltdown madness.
Watchlist ONP CBEH EEI STRL AXK
ONP
Big move on reaffirmed estimates. I’m not hip on shorting earnings plays but if the market can get panic rally this could breakout all day.
CBEH
This company is horrible. There is speculation that they may be a fraud. I know Chinese companies and fraud. You hardly ever hear that. Could be a halt candidate. Look to short.
EEI
Another earnings runner. This went straight parabolic. I’m concerned that volume may not follow this Thursday. We’ wait it out to see if something opens up
STRL
Gap up and hold . See if it’s possible to carry momentum into the later part of the week
AXK
Good looking set up here. This has the history of a spike and fade. See if Thursday is a day two run or a nice short.
