Trade Setups for May 12, 2010
Futures have been choppy over night, until the European markets opened there were strong bearish tones - down as much 1%. But once those overseas markets opened, the futures rallied back strong to where they currently are now, which is now slightly in the green.
On the Economic Front, we have MBA purchase applications at 7am ET, followed by International Trade at 8:30am. All eyes will continue to remain fixed on Europe, its market performance, and how it continues to handle the debt crisis.
As for my portfolio all the stops remain the same, and I will be sure to post an update on each of my positions that I am holding later tonight (with annotated charts).
Here are Today's Trade Setups...
LONG: Universal Forest Products (UFPI)SHORT: Torchmark Corp (TMK)