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{+++}The market wasn’t worth trading today, really. Alcoa reported and they beat by a penny, CSX reported and had a decent number. The big boys are on deck: BAC, JPM, INTC, GE etc. I mentioned on twitter that I want to only trade stocks this month that have already reported or are a week or two away from reporting. It’s the path of least pain and frankly, the best action is with the names that have already reported.
We sold the balance (1/3) of IDT today and issued a long on STEC, it is actually close to stopping, as it had difficulty bouncing, I think we will know early what the resolution will be. ROVI is still live and I lowered the stop a bit, it went through the level by only a nickel and I like the daily chart.
There continues to be some good looking charts and some bad looking charts, it will be a tough month to find footing, we usually have a better feel after the first two weeks.
HerE are same radar names for the short side:
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