200 DMA – Next Target

Yes, we’re in a buy-the-dip type of market. You just have to know which dips to buy. I remembered today why I prefer trading ETFs over stocks. I knew SOHU had already run up strong today, but thought it might have some more in it. I bought what I thought was a base breakout, but ended up selling it an hour later for a 10 cent loss. During that same time, QLD broke it’s high of the day, and ripped higher. The market was moving, and I had chosen stocks that weren’t moving. SOL was another one I was in, but looks good for tomorrow.

It seems the next barrier to break for the Nasdaq is the 200 dma currently at 2517. It will get there, but it will still be choppy action I imagine.

I’ve been trading off the morning gappers lately, but a few that look interesting tonight include CENX, STV, NYX, SOL, VIT, and STLD.