Good Morning Todays Trade

Friday, May 9, 2008

Stock futures continue to indicate Friday's trading will begin in the red. The March trade deficit totaled $58.2 billion, which is less than the $61.0 billion deficit that economists widely expected. The deficit for February was revised to $61.7 billion, down from a previously announced $62.3 billion deficit. The initial February trade balance worsened surprisingly -- economists have postulated that a weak dollar will make exports more attractive and imports more pricey.

I expected us to test the downside to the channel we are in, This morning we are doing that or very close to it, Fridays are notoriously weird days for myself and i tend to be super patient and try to enjoy my job as a trader and in most cases start a 3 day weekend. Last nights video as seen on the educational video page or on the right of this page. Shows there is a potential for a reversal set up today. So i will watch the all important area down between 1480- 1485 and look for any signs of a reversal. Some stocks i want to buy on dips

GOOG
V
C looking for strong premarket
FSLR gapped up

overall i am not looking to trade much today. Markets are always around, but the traders that trade in choppy and dangerous markets slowly get weeded out. remember this people.