The Wrap 4/12/10

{+++}Today was a chopfest, plain and simple. Oil looked bullish at the open and then went soft. The financials showed strength and the material sector started strong and faded. Maybe Alcoa after the close was on the markets mind. The number came in luke warm and the stock is down very slightly in after market trading.

We will probably see more choppiness in the days ahead as we get tossed to- and- fro from one good report to another. That’s just earnings season.

Please watch earnings carefully, in a perfect world I like to be flat (no position) the day before an earnings report. I can live with¬† a half position but being long or short in front of an earnings report can be riverboat gambling. I trade, I don’t gamble. So be careful.

NAMES ON OUR LIST THAT HAVE TRIGGERED BUT CAN STILL BE BOUGHT:

AMLN, CLDX,

I HAVE ADDED KSWS as long this evening. Please see adjusted stops. Hope you had a great day and I will see you in the chat room tomorrow.

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