Stock Trade Team

Futures were up a bit this morning, but as expected volume a little lighter than the usual.  If you’re still riding it, NUE is still looking decent would consider scaling out here or with a stop to make sure you keep profits.  Not a bad way to end the year!  Not really watching anything else this week, except for bowl games!  Hope everyone had a great Christmas and we hope for the best in 2009!

Remember, Trade Smart and Happy New Year!  From all of us at Stocktradeteam.com!

Futures slightly  up this morning.  Volume as expected lower this week as the big money is probably getting their big parties ready and their families in the Hamptons.  We’ve spotted one trade that could be a nice payoff if it has any legs.  We’re watching NUE this morning.  IF it stays above 42.50’s we like it long to potentially get back to the 48 range.  Not sure that it’ll happen today but the chart looks fairly bullish unless of course it breaks below that level. 

Futures up this morning as data seems a little better than expected.  There’s also talk of a new “bailout” plan from President elect Obama.  We’ll have to see what’s in store here.

Here’s what we’re watching this morning:

AUxL- had some drug news with Pfizer, if it breaks below 27.70 we like it on the short side.  Good news though on it so keep those stops tight.

Trade Smart!

Futures were mixed slightly up this morning.  Seems as though people are waiting to see if there’s any bailout to find direction.  That’s what the news is saying anyway.  Not sure if that’s truely the case as you know the old saying sell the news.

Here’s what we’re watching today:

Indexes to see if we can find any direction.

AAPL - got downgraded, so we’ll see what happens with it.  We were learning to the long side this morning on it so we’ll see what happens.  Under 94.25’s it may see more downside action.  We’re still looking a little on the long side if it keeps above that level though.

After all the “rallying” last week we may see big selling off again today.

Trade Smart!

Thanks to the other co-owner for the congrats!  We’re doing good, now gotta pay for diapers!

Futures lower this morning on news that the auto bailout isn’t happening.  It’s also Friday so we should see some action today.

We’re watching:

RIG- on the short side with a stop in the 56’s.

MA as well with a stop around 138.

Trade smart!

We have great news the co-owner of this site is a proud poppa of a baby boy Joshua Ray

Futures lower this morning after big rallies the past few sessions.  Will this auto bailout really help boost consumer confidence?  First the “bailout” comes to the credit markets and they give more money to the companies that caused the mess in the first place, now they want to help companies whose products depreciate once the cars are driven off the lots?  Hmm, why not give money back to the people instead of the companies who give a large % of the “bailout” money to their high up managament.  I hope the new president and his staff will really make a “change” in this area.

What we’re watching today:

FDX - took a plunge after lowering their forcast.  It could be a decent short if it stays under 67.  If it runs back above 67.50 then it may try to rally a bit.

NUE - could also be a decent short today.  It may test 36or rally back to 39 picka side and look for a bounce either way.

TRADE SMART!

Futures lower this morning.  The jobs report was pretty ugly this morning, -533k vs -335k consensus on the Nov Nonfarm Payrolls.  Crude also took a drop, in these type of environments you just have to keep a close eye on things.

What we’re watching:

FSLR - we like it on the short side with a stop above 124 area.  High end stock so trade this one smart!

Also watching the indexes today(SPY, QQQQ, DIA, etc).

Trade smart!

Futures lower this morning.  Not a whole lot of positive data coming out this morning.  We’re watching SPY again here.  It’s at a key level at 86 here.  A break below and we can see more downside action in place.  With negative news yesterday if we do break 86 down we can see 84’s pretty quickly.  Although if it can hold this 86 level and keep climbing we’ll see what happens.  We’re feeling more bearish on it though.

TRADE SMART!

Futures down sharply this morning.  Fear trying to take over again and the news just loves to fuel the fire.  Could this mean we reach somewhat of a bottom soon?  Granted data this morning didn’t look too hot either.  Just have to pick and choose what to go with, be cautious, but consistent.

Here’s what we’re watching:

CEG - in a crazy market that looks down, this one has potential to run even more today.  Up big this morning on news of a competing buyout offer,  we think it could possibly hit the 34 range if it holds it’s pre market levels.  Above 30.50 and we think it has a chance, but keep those stops fairly tight if it breaks below that.  Great risk/reward if it opens around the current pre market 30.60-30.70 price.

Everything else looks like we’re gonna have another down day today.   We may see a pop first but sometime today we’re guessing downside action.  Hmm, POT under 54.60 looks like a good short, it may bounce above that first so be alert if you take it at the open and stick to your plan.

TRADE SMART!