Momentum Trader Report: 10/13/09

13 Oct

Posted by Momentum-Trader as Momentum-Trader Report

A quick post today because not much happened. The Market had a rough start but closed strongly. INTC reported after the bell, and had great numbers. This should move stocks higher tomorrow, at least at the open. But we do have earnings from JPM before the open; that could have some impact.

There is little change in the S&P 500. It’s possible that it could be getting ready for a move higher here.

I had no triggers today, so it was a bit quite. But some stocks I have continued to move higher. Although some big movers have seen some profit taking, CERN is still moving. I am not longer in this.

ELY wasnt doing much in the morning, but what a finish! It was up nicely after hours as well, hopefully it can hold on to those gains.

I’m removing CWTR from the Watchlist, it looked pretty weak today. The other stocks still look good, and I am adding a couple more.

Trade Ideas for 10/14/09:

I think everyone is expecting a gap up, and that could well happen, but a lot will depend on JPM as well. The market has rallied strong into earnings, so traders may sell the news here. We shall see.