Trade Setups for May 19, 2010
It's another trading day quickly approaching and the bulls are definitely without their 'mo-jo' once again. Futures are down, as Europe is bleeding red all over the place due to the debt crisis that continues on.
It should be pretty quiet in terms of scheduled economic reports with the Consumer Price Index due out at 8:30am ET followed by the EIA Petroleum Status Report at 10:30am, and finally the FOMC Minutes will be released at 2pm.
In case you missed it, I shorted some shares of ABMD at 9.66 yesterday with a stop at 10.14. So far it has been a great trade, and while they reported earnings this morning, it doesn't look like they did anything special, so I will be watching this stock carefully to see the market's response to their report.
Here are Today's Trade Setups...
SHORT: Spectra Energy Partners (SEP)
SHORT: Healthcare Services Group (HCSG)