Hello Friday,
Today, we are looking at a market that is pretty much neutral going into the morning session, but I think we can find some nice opportunities. Yesterday, I recommended an Overnight Trade in Lasalle Hotel Properties (LHO). We got into the stock at 3:30 PM yesterday at 19.70. The stock looks to be opening a bit downwards despite beating estimates for the quarter and full year. The company reported an EPS of 0.25 vs. the expected 0.24. I am going to wait just a bit on the open before selling to see if we can get a little movement upwards. That means I will risk taking a slight loss; however, if the market starts to rally, it will probably move LHO up with it.
But, what is on our plate for today…
Buy Pick of the Day: Ultrashort Proshares Oil and Gas ETF (DUG)
Analysis: IN PROGRESS
Entry: We are looking to get involved with DUG at 13.10 – 13.20.
Exit: 2-4% on top of entry price.
Stop Loss: 3% on bottom of entry.
Short Sale of the Day: AXA (AXA)
Analysis: IN PROGRESS
Entry: We are looking to get involved at 19.85 – 19.95.
Exit: 2-3% below entry price.
Stop Buy: 3% on top of entry.
Good Investing,
David Ristau