Afternoon trading playbook

Posted Jun 18th 2009 3:40PM by Todd Harrison
Filed under: MasterCard Inc'A' (MA), CA Inc (CA), Stocks to Buy, NASDAQ

This post was written by Minyanville contributor Quint Tatro

While the Philly Fed Numbers's are just about unbelievable, in the real sense of the word, it has been enough to halt the slide at least for now. Regardless of the back and forth, I continue to be sitting on my hands watching as the market discourages those trying to find a shorter term edge. I stand firmly planted in the land of the Swiss, with a thesis that before the next swing tradeable move, Mr. Market will do a great job in depleting as much emotional capital as he can. My one current short in the FlexFolio, Mastercard (NYSE:MA)still looks good and with a stop above 175 still presents some decent risk reward.

Going into the afternoon, I am keeping my eye on CA Incorporated NASDAQ:CA)and FLIR Systems (NASDAQ:FLIR) with alerts to enter short on a break of the day low. If they trigger, my stops will be the day high.

Enjoy the break, don't get caught up in the ticks and keep the emotional capital at highs. We're going to need it soon.

Tags: ca, flir, ma