Dave Landry's Market in a Minute - Friday, 4/20/12

[Dave Landry]

Random Thoughts

The random thoughts are pretty much a cut and paste:

As I've been saying, a few big up days would make all the difference in the world. Obviously, we didn't see any upside follow through on Thursday. So, this keeps us in one-day-at-a-time mode.

So, what do we do? I think the plan remains the same:

1)Honor your stops on existing positions just in case this turns into something bigger. 2)Be selective on new positions. Trade the best and leave the rest. 3)Wait for entries on new positions. Again, as I preach, this can often keep you out of new trouble. 4)Start thinking about firing off a short or two but keep #2 and #3 in mind.

Futures are firm pre-market.

[Dave Landry]

Random Thoughts

As I've been saying, a few big up days would make all the difference in the world. Obviously, we didn't see any follow through on Wednesday. So, this keeps us in one-day-at-a-time mode.

So, what do we do? I think the plan remains the same:

1)Honor your stops on existing positions just in case this turns into something bigger. 2)Be selective on new positions. Trade the best and leave the rest. 3)Wait for entries on new positions. Again, as I preach, this can often keep you out of new trouble. 4)Start thinking about firing off a short or two but keep #2 and #3 in mind.

That's my story and I'm sticking to it.

Futures are flat pre-market.

Reminder--Chart show today. Call in sick. Dress casually, drink plenty of fluids, and bring plenty of questions

[Dave Landry]

Random Thoughts

Well, Tuesday's action is why I think it's a little too early to make any big picture predictions and become a Ursidae Shortalotagus.

Now, don't get me wrong. Let's not start kissing each other just yet. Tuesday obviously scores as a positive but follow through will be key. A few more big up days would put the market back to new highs and we can all breathe a temporary sigh of relief.

So, what do we do? I think the plan remains the same:

1)Honor your stops on existing positions just in case this turns into something bigger.

2)Be selective on new positions. Trade the best and leave the rest. 3)Wait for entries on new positions. Again, as I preach, this can often keep you out of new trouble. 4)Start thinking about firing off a short or two but keep #2 and #3 in mind.

I think #3 is key. It won't always save your buttocks but on a day like Tuesday, it's likely that potential shorts would not have triggered.

Yet again, take things one day at a time. If your stops get hit, honor them.

Futures are soft pre-market.

Click here to watch today's Market in a Minute.

Best of luck with your trading today!

Dave
__________

[Dave Landry]

Random Thoughts

Well, Tuesday's action is why I think it's a little too early to make any big picture predictions and become a Ursidae Shortalotagus.

Now, don't get me wrong. Let's not start kissing each other just yet. Tuesday obviously scores as a positive but follow through will be key. A few more big up days would put the market back to new highs and we can all breathe a temporary sigh of relief.

So, what do we do? I think the plan remains the same:

1)Honor your stops on existing positions just in case this turns into something bigger.

2)Be selective on new positions. Trade the best and leave the rest. 3)Wait for entries on new positions. Again, as I preach, this can often keep you out of new trouble. 4)Start thinking about firing off a short or two but keep #2 and #3 in mind.

I think #3 is key. It won't always save your buttocks but on a day like Tuesday, it's likely that potential shorts would not have triggered.

Yet again, take things one day at a time. If your stops get hit, honor them.

Futures are soft pre-market.

Click here to watch today's Market in a Minute.

Best of luck with your trading today!

Dave

[Dave Landry]

April 18, 2012 - Intel (INTC)

[Dave Landry]

Barchart.com's Chart of the Day - Chubb Corp (CB) for Apr 20, 2012

The "Chart of the Day" is Chubb Corp (CB), which showed up on Thursday's Barchart "All-Time High" list. Chubb on Thursday posted a new all-time high of $72.46 and closed up 2.15%. TrendSpotter has been Long since April 2 at $69.80. Chubb on Thursday reported Q1 EPS of $1.70, well above the market consensus of $1.52. Chubb on Feb 23 increased its quarterly dividend by 5.1% to 41 cents per share from 31 cents. Chubb Corp, with a market cap of $19 billion, is a leading provider of property and casualty insurance.