The Closing Print live trading and financial blog during market hours.

We ran some MarketSmith Scans last night, with the Blue Dot and Relative Scans producing numerous setups. Now, these setups need the indices to follow through, as we look to the 2600 zone as support.

Markets saw more advancing stocks versus those that were declining.

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MarketSmith Blue Dot Scan

This scan looks for stocks breaking out of a base, with a rising RS line. Three are on the watchlist, with SIMO and INCY performing the best on Tuesday. MSFT stayed behind, though it is trading higher this morning. Look for all three to follow through today.

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SIMO performed the best +5.25% on the day’s session. The RS line is rising fast, with price accelerating on above-average volume.

Earnings are scheduled for the first week of May.

With futures pointing to a bullish open, we’ll also look to take some of the Facebook (FB) options off for a profit that we trailed from Tuesday’s entry. Those were bought for 0.10 just before the 11:00 AM reversal. We sold the majority of the position at 0.27 for a 170% gain.

We’ll scan the markets for more “big institutional” size options trades that have been occurring during the opening range, so join us today in the trading room for our LIVESTREAM broadcast

during market hours, as we navigate the current environment. Watch, listen and trade from 9:20 AM to 4:15 PM Monday through Friday.

Happy Trading, 


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Disclaimer:  Do your Own Research

Our content is intended to be used and must be used for informational purposes only. It is very important to do your own analysis before making any investment based on your own personal circumstances. You should take independent financial advice from a professional investment advisor in connection with, or independently research and verify, any information that you find on our Website and wish to rely upon, whether for the purpose of making an investment decision or otherwise. Trades and or positions listed and taken from the watchlist are my own and should not be considered “advice” to enter any particular position or asset.

Investment Warnings

We would like to draw your attention to the following important investment warnings. The value of shares and investments and the income derived from them can go down as well as up; Investors may not get back the amount they invested – losing one’s shirt is a real risk; past performance is not a guide to future performance.

Live Sessions

Live broadcasts are educational in their content. Proper risk management is considered on every trade or asset mentioned. 

*** Stocks highlighted are for information purposes only and should not be considered as advice to purchase or to sell mentioned securities. 

As always, the use of technical and fundamental analysis is encouraged in order to fine-tune entry and exit points to average seasonal trends. 

These mentions are stocks that we may or may not decide to trade as outlined in the watchlist. Always use a stop.

Disclosure: As an #ibdpartner, that means my use of investor’s business daily suite of services is complimentary. I also receive compensation from the company for my technical analysis services.