Good morning everyone from the Las Vegas.

I was quite surprised to see another record high yesterday.  About mid-day I was able to login and saw that low was really moving lower and the the tech’s were having trouble I fully expected to see a negative close at the end of the day.  As always the market has a way of keeping you humble!

This morning we have the big Retail Sales numbers that have the potential to move the market.  There is also the empire state mfg. and import export numbers but unless they turn in a very big surprise its unlikely they will have much of and effect.

I looked at a lot of charts last night (maybe around 1000) and see so many that are very over extended that I can’t help but thinking a pullback is way overdue.  Chasing into a run like this can be very dangerous unless you are nimble so at this time I am not recommending new option trades.  When the pullback comes we will have great entries near new support levels rather then chasing in at what could be new resistance.  Having said that I do have a short list of stocks that could easily turn into trades if you have the ability to watch them during the day so below is a list to give you some ideas.

CVCA, MCRB, NRG, CCJ, CIE, ANET, IGT, RIG, BMY, VLO, PAY, MOS, SBUX, LBLA, NAV, CBS, CC, BEAV.  From this list my favorites for possible trades today would be IGT and BMY.

There is no video attached to this email because I don’t have the ability to produce them on the road.

I wish you all a fantastic day of trading just be watchful for a pullback soon.

Trade Wisely,

Doug