Notes for the day

Here's a few thoughts on my mind this AM.  Trade 'em well!

• Yesterday was important in the sense that sloppy bears weren't punished.  That is something worth watching in the coming days and weeks.

• Oil is still in the earlier stage of the move.  

• I'm hopeful to find an attractive pullback entry in GenCorp (GY).

• This week the trade has been to attack pressure points in the market.  Over-followed ideas that have either run their course, or run far enough for profit taking.  Traders are taking wins off the table and that goes for both sides of the market.

• If you have stop areas that you haven't honored...what are you really doing?  I'd call it asking for pain.

• It's never a good time to not follow your trading plan.  This includes selling positions that haven't reached a stop area.