It Is Not Always What We Expect

We had another choppy market on Monday. Although the market opened in positive territory the gains were short-lived and stocks sold off mid-morning to end down for the day. The market recovered on Tuesday but seems to be choppy at best. The setups that I had all suffered but are still on the radar until the markets give some direction. What follows is an update of the charts after today's action. Click on each symbol to view an updated chart. (You'll see a dialog box with 3 choices. Click on "Discard Last Session")
$PKT  $ATSG  $BMY  $DPZ  $SCOR  $SCSS 
All of the charts sustained some damage and I'll be watching to see if the prices recover before putting on any positions. I went all cash mid-morning on Monday to lock in some nice gains when the indexes began to fail. I reentered a few trades, $FVE, $HMA and $CSU. The daily and the weekly charts still look good and I'll hold these with tight stops. I was short one position, $SHOR at 7.10. The price went up on Tuesday and I was stopped out.

I have one setup on the radar today and tweeted the chart yesterday. Here it is again:

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$ABAX Over 28.50 0n volume.

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That's it for this morning. Trade well today. See you on the stream.