the Yuppie Pig

Pretty quiet day on the markets today. So far, it seems that the corrective upward move to 1115 (potentially to 1130) is still in progress. I don't see many good trade setups so this is one of those times where it's just best to hold positions with appropriate stops according to your risk tolerance.

CHRW is one stock highlighted as a short candidate due to its triangular pattern accompanied by bearish volume. It reported last night and promptly sent the stock down immediately to our target price. It was a great trade, although I will admit that holding stocks through earnings is typically a higher risk maneuver. But in this market, more often that not, even good earnings are sold. I've still got a few long/short setups ready, but you may want to wait to see how this current rally resolves itself depending on your timeframe.

For tomorrow, it looks like the gold ETF (GDX) can be bought as it is forming a small bullish flag. Assuming that the broader market moves higher, I think this one will follow. Perhaps we can still get another couple points out of this stock.