xpertstocktrader: Stock pick for 11/02/2011

Stock pick for 11/02/2011

Dear traders,

I don’t want that someone got impression that I’m more with bulls right now when you see today trading ideas. Actually I don’t have longer term bias, I just know that after two strong gaps we can see some correction (consolidation )on the 15/60 min time frame and because of that I brought few long ideas. I won’t be surprised if we will see selling continuation, even if market will open again with gap down, but for me that is right now running train and I need station to get in that train and for that I need pattern (consolidation – rest). Everything before will be high risk and because of that I will wait with new swing short setups. I’m very very happy with swing exits yesterday. I told that they have more room for downside action but in news market for me it is safer to take profit and wait new possibility. It was actually personal decision and if anyone stayed in and if some will need help feel free to contact me.

Today I will wait after open to see market breath and our long ideas will hold well and if market will look ready for possible correction I will use them. We can see that all have some kind of own way and that all are stronger then market last days what is good sign. Again, if anyone will have any questions feel free to contact me.

Wish you all good trading day

Ivica