Beat Wall Street: The Guide To Becoming A Pro Trader
This morning, two of the leading copper stocks are trading higher to start the day. Yesterday, copper stocks where crushed lower on heavy volume. Often, after a high volume rally or decline the next trading session stocks will retrace a little bit. That seems to be what is happening with the leading copper stocks today.
Las Vegas Sands Corp.(NYSE:LVS) has sold off from its small gap higher open. The stock has been a major winner by rallying higher since March 15, 2011 when it traded as low as $36.05 a share. This morning LVS is trading lower by 0.94 cents to $44.81 a share. Trader should watch the $44.00 for good intra-day support. This is also a very likely intra-day bounce level for short term day traders.
ConocoPhillips Dips From Intra-day High. Watch This Area
ConocoPhillips(NYSE:COP) is declining lower by 0.40 cents to $79.28 a share. This leading integrated energy stock has come under some mild selling pressure over the past three trading sessions. Short term scalp traders can watch the $78.85 area for intra-day support. This is a likely short term intra-day bounce area for the stock.
Sina Corp.(NASDAQ:SINA) has rallied sharply higher since early March. Today the stock is trading lower by $1.35 a share to $106.30 a share. Traders can look for a small intra-day bounce around the $105.90 level. Please remember that this stock is overbought on the daily chart and the bounce higher may not last very long due to the overbought condition.
Sandisk Corp.(NASDAQ:SNDK) is a leading flash memory chip manufacturer. Today the leading tech stock is trading higher by 0.40 cents to $45.41 a share. The stock started the trading day above the $46.00 level and has since faded lower throughout the session. Short term scalp traders can watch the $45.00 area for intra-day support and a possible bounce in the stock.
Wal-Mart Stores Inc.(NYSE:WMT) is the dominant retail stock in the market. This morning the retail giant is trading lower by 0.10 cents to $52.24 a share. Short term scalp trader can watch the $52.00 area for intra-day support. This is a likely intra-day bounce area for the stock.