Pre-Market Thoughts for September 13 2013:
Happy Friday! Futures are down and it’s almost time for another opening bell. We’ll be watching at the open to see if the pause in SPY and IWM continue, or confirm either higher or lower. But really…
Who cares! This Twitter IPO is all I can think about. Too bad I sold my GSVC a year too early. Of course the valuation will end up being silly. But it’s fun to speculate. As for the market at large?
Per Chessnwine’s video recap, the question today will be how the market deals with overhead supply from the previous July/August highs. XLF is lagging but IWM And SPY are coming into resistance. So do we roll over, or melt up slowly? My money is on the latter, but not immediately. Today, I expect selling and a choppy session, especially with today’s retail sales miss (the last pre-taper data point).
Stocks I’m Watching For September 13 2013:
IAG continues to look interesting and oversold. I’m hesitant about catching knives though. So I’m not exactly sure how to play this. I might start out with a “pilot buy” if we some stabilization this morning.
If the BRKS pullback continues on low volume I might add to my exposure. It’s had an overwhelmingly constructive week and I’m curious to see if it can continue to grind higher. On the other hand, as long as SNV doesn’t move backwards, I’m feeling good.
What are you trading today?
Good Articles I’m Reading Today:
— Looking for a job? What about being a flight-nanny?
Free Video: How to Find Stock Ideas with the Finviz.com Signal Screener:
Thanks for watching!
Stock Market Day In Review: September 13, 2013
I’ll keep this short, because I have a weekend to get to. Which reminds me: What’s the point in working so hard, if there isn’t any opportunity to have fun right?
Although today’s session was stronger (and with more breadth) than I expected, I’m still slow to make any big moves ahead of the Fed’s tapering decision coming out next week. In fact, I spent most of the afternoon looking at IAG, humming and hawing. But I was unable to make anything happen.
BRKS and SNV were just about as productive as me – flat on the day. So let’s just enjoy the weekend and see what the market brings us next week. I’ll try to post another book review or two for your weekend reading. In the meantime, check out these stock trading books reviews.