daytrade diaries - wednesday, page-16

Morning all... we the US certainly was interesting last night.. Was up over 2.5%, to finally close up slightly (less then 1%).

Today IMHO is a worry.. so many stocks have such good runs, its leads me to think that we might be in for a retrace. We saw the sell off into close on the DOW last night which was bought down to profit taking. IMHO we are going to see a modest opening here today, with a slow sell off during the day. Im only focusing on momentum trades (If I see any), and only holding stocks overnight which havent had their run in the past few weeks. I get the feeling that we are going to see gold heading back up soon, which in turn will lead to the market sliding and gold stocks rising. I COULD BE SOOOOO WRONG HERE, but its just a gut instinct.

Stocks to watch today include (and I mean watch and trend carefully) LNC, FMS, ENV, BUL, ICN, NDO, CNX, ALS, PRR and VMG).

As I mentioned yesterday I took a punt on Oceanagold Corp (OGC)

Anyway, im laying low today.. I want to see a clear direction before diving into anything.

Cheers
Kevi