Intraday Trading

TSL offered a nice trade this morning.It’s a tough stock to trade and has run quite a bit so I won’t be playing it for the rest of the day.Though it’s tempting I’m not going back to the well too many times here.I captured a point on it at a price of 64.74 out at 65.74.Also the last high of 66.59 was printed on only a hundred shares so it looks like it has lost it’s momo for the moment.It offered a nice re-entry,but I was too scared,that stock can be wicked if your entry isn’t perfect.BW also triggered for me at a price of 57.80,unfortunately I was too caught up in TSL and missed the point move in that one.It had a real nice setup too with minimal risk.If the markets hold this 12,700 area we could see some good moves from here,but we’ll have to see what happens here.I’ll be watching a few stocks like TEX(breaking out again,be looking for clues on it’s strenght here), and BW for an entry if we push further.We may need a slight pullback here though.

11:31 am : Looking through some other groups,and Financials look to be strong here.AXP,C(earnings),STI(made a nice comeback off lows),BAM(Just broke out of a little consolidation on the daily,almost a cup and handle?,all the averages are in proper order on this one,just not seeing the volume yet,will keep a watch on it though.

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