Tomorrow’s Plan:

Tomorrow is the last day of July, so I am probably not going to be trading much. I will do a full July trade review over the weekend, and I do not want to end July by pushing it on a day that may not be pushable. The last thing I want to do is go into the weekend feeling tons of regret. Volume was higher today and the ISEE dropped quite a bit, suggesting that yesterday’s value was an outlier. There still has not been a very negative day in this pullback where we have closed with -2000 AD and the VIX through the roof. I am still looking for longs, and I think after today’s action, some of the stronger stuff out there may start headed up (like RIMM).

My Ideas:

•WDC looks like a great short. I did not short it today because of the uber internals at the open, but it is obviously following through to the downside on higher volume.

•UAUA has a great low volume consolidation at its highs, just what I mentioned I would like a few days ago. Any strong showing by this stock on the open and I will be all over it.

•HIG has this tiny cup and handle pattern on its daily chart. I am watching for a higher volume breakout above its 50 SMA.

•I am only trading the morning session tomorrow, so if these do not work out, I will be much less likely to place any trade at all.

Best of Luck Tomorrow

Today’s Trades:None

Today’s Lesson: None

Last Note

No trades today due to some buying power issues. At Keystone, we are supposed to post our plan on this separate blog, and if we do not, our buying power is taken away. I did, but there was some communication breakdown and I did not get buying power until 11:30 EST. It probably saved me some money as internals opened very strong and all indications pointed to a higher market. I was itching to buy LVS above 27 and it failed to push up, so lucky me!

Lucas