Tuesday Morning Update 9:11am

Tuesday, November 18, 2008

Tuesday Morning 9:11am
Good morning, markets holding up just on HPQ news this morning, Will this last? I doubt it. but you need to continue to be prepared for anything in this markets. The hardest thing in this markets are picking the bottom, and as a trader you always try for the best price in an entry, but this is something you should not concentrate on as much. You should have a list of stocks that are on a buy list. And when a stock gets taken down to a level you have been waiting for or want , only then you should scale in small, cause most likely the markets will drag that stock lower. Its a tough environment for a swing trader and holder of long term positions and, but this market is made to order for the short term trader.
For the short term traders continue to look for the relative strength set ups in the markets and be sure to take profits off the table, for longer term players, need to keep your powder as dry as possible. and for those who do both, Well you will not be in a better trading environment then you are now.
Watch list is limited today , as i think we will have more downside pressure. Still like the Internets here
EBAY
DELL
YHOO
RIMM
LDK solar out tomorrow morning with earnings
MDR looking to add at these levels
watch for relative strength in the first hour