Good morning traders,<\/p>\n
I am traveling and away from the computer all day. (Driving 9 hours back to New York, a big Thank You to Continental Airlines for that one, but don’t get me started…). I don’t see a lot in terms of setups today. Everything I had said from past days applies here: focus on specific in play stocks making clean moves, making big moves, on good volume for the day. Avoid sector plays. Avoid market plays. No economic numbers to be aware of today, but keep an eye on precious metals. From my morning research note:<\/p>\n
The entire precious metals complex had a large, positive standard deviation close yesterday. Though it is difficult to read price action due to the lack of volume and liquidity intraday, our sense is that Gold may have been the leader on the rally. At this point, the burden of proof is on the bulls who will need to put together an extension of this rally within the next 1-2 sessions. If they are unable to do this, there is a high probability that this was a false breakout and we will be on guard for more significant downside.<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"