If there was ever a day to maintain your discipline today would be it. I think we could see some nutty moves today due to a few things. First, it's quarter-end so expect the typical mark-up (and down?) games by the fund managers. Second, it's the last full day of trading before Independence Day so I expect a good number of people to be reducing exposure. That could be bullish or bearish depending on which side is most worried. And last but certainly not least is the Russell rebalancing. Should be an interesting day.

Potential swing trades:

See one of the recent 'Chart Reading' posts for some potential swing candidates.

Potential day trades:

(From Briefing.com)

Gapping Down

PALM -10.5% (reports MayQ, beats by $0.06, but guides AugQ below consensus), AIR

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June 30, 2006 Stock Market Recap
at 2006-07-09 19:42:50

Given all that could have happened today with it being quarter-end and the Russell rebalancing its indices things were rather quiet. Although volume increased on many indices I think that was all due to the rebalancings. The Russell 2000 had a nice 1.45% gain today thanks to that rebalancing, even if all the gains came in the last 15 minutes of the session.

So the indices, excluding the Russell, were little changed today. Monday is one of those stoopid half-day sessions so I don't expect much to happen then either. I'll get back to trading and posting watchlists on Wednesday. Enjoy the break and the holiday.

Trend Table

No changes toda

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Chart Request: General Motors Corp. (GM)
at 2006-07-09 19:42:49

I was asked do a chart of GM which was on fire today on news of a potential alliance with Nissan Motor Co. Ltd (NSANY) and Renault SA (EPA:RNO). Here's the chart:

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A Question About Percentage Returns
at 2006-07-09 19:42:49

I answered this question earlier today and thought I'd expand on it on the site:

Here are some questions about the “My Path to 100 R in Profits from Day Trading: April 26, 2006” overview:

You said "It took too long to get to 100 R. I should be double that by now."

Q: Is this a joke, sarcasm or a serious statement? 100R means more less 50-70% profit in a matter of 9 months. According to some interviews and (no-nonsense) literature, +30% profits is already considered spectacular achievement. Please let me know what was your true expectation for the profit during that time? Actually I see now … your target is 1R to 2R per day … so it will be 200-400% annual gain!!!!

ery serious statement. The beauty of active trading is that, assuming you can find the trades, you can rack up huge gains over a number of trades in a shor

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