Monday Evening

Monday afternoon

What is a good trade ?

1.  You followed all of your rules.
2.  You entered with a definite plan in mind.
3.  You followed your plan.

That’s it.  Win or lose, if you did those 3 things, it was a good trade.  Pat yourself on the back.

Monday Morning

Gator's Chart of the Day: CRM

Salesforce.com reports earnings on Thursday after market so this is a very short term opportunity.  On Thursday the stock filled the late February gap on high volume.  Friday saw buyers come for the stock and it bounced on better than average volume.  Could this be a dead cat bounce?  Sure.  Could this last into earnings?  Sure.  I'm looking for a move towards 150 and would not hold through earnings if the trade develops.

I don't care for the equities market right now with all of the noise from Europe and if I do take a position it will have a very tight stop.  If the stock falls below Friday's low I'll be out.