Trade Setups for June 17, 2010
While the futures are up this morning, I think you'll likely see today's action being defined by what we get out of the morning's economic reports as we have jobless claims and the Consumer Price Index at 8:30am, followed by Leading Indicators at 10am and the Philadelphia Fed Survey at 10am. But its going to be those 8:30 reports that have the biggest affect on the market.
Still long gold, and the approach today, will be to scalp the S&P where the opportunities exist.
Here are Today's Trade Setups...
SHORT: Hibbett Sports (HIBB)
SHORT: Matrix Service (MTRX)