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12 Oct

Wednesday October 12, 2011

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Well it appears the train might finally be back on the rails. Key resistance on the INDU is just ahead at 11,550 followed by 11,716 and then we’re out of the channel and into an uptrend. Will this move be the one that sticks, I think so and the reason I say that is the VIX is down and earnings season is upon us. So unless this is another whipsaw, which I don’t think it is… I’m shifting back to 90% swing trading as that’s my favorite trade type.

Today I’m sitting on 5k LOCM and think it’ll produce $.75 per share over the next few weeks of so. Earnings are November 3rd so still a ways off, but with good support at $2 (where I’ll buy more) I’m confident that support will hold and we’ll see $3 before we break $2 hard to the down side.

We’re still beta testing the new chat, seem to be a few bugs with IE and Google Chrome… so when those are done we’ll do an official launch. Initially we’ll be in the public room with subscribers but eventually I’ll have a private room just JasonBondPick subscribers which is where I’ll hang out during the day.

For now just create a quick and easy username here http://thestockmarketwatch.com/markets/today.aspx and then jump in chat with us.

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