Wednesday Evening

ES (Sep) Daily

The bulls stepped up in the last few minutes right at the 20day WMA. The LOD was 1303.50. 1300-1303ish is an important level for the bulls to hold... next level of potential support below that is 1280ish.

Wednesday Afternoon

Wednesday Morning

Gator's Chart of the Day: OREX

This one popped up on a scan following Tuesday's trading.  Some of you may recognize it (but I don't remember who first brought it to the blog) as a rocket stock we've traded before.  Their big money maker is an anti-obesity drug and that's a fat target market.  (Pun intended.)

The stock started moving up from the bottom Bollinger band on Friday and popped through the 20 day simple moving average Tuesday with a close above the 50 day.  It looks to me like it has more upside.

I'm already over invested in bio tech (SGEN) so I probably won't trade this one.  As with all rockets if you aren't going to stare at your screen you need to manage your risk with a combination of position size and stops.  Good luck.