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Columbus Day Trading

For the most part, Keystone traders came in to work on what could turn out to be the lowest volume day so far this year (SPY traded 110mm shares vs. a 60day MA of 185mm shares). Nonetheless, the fact that we are near out 52week highs and that we are right at the start of the earning season, it turned out to be a decent day to trade so stocks. CSCO WFC JNJ KO LVS all had decent trading ranges; JNJ WFC and KO were the ones that plenty of traders got involved with since the flow was clearer and more sustainable than the rest of the market.

As the earning season starts we need to be ready for moves in the stocks we are normally trading. Here at Keystone we expect traders to become specialist in a handle full of stocks, say 4, so that the excuse that “a trader missed” a move is lowered. That trader should know the level of the stock they are trading inside and out, they need to know how that stock moves on a regular basis so that they can be ready to jump all over the stock ones is starts making a move.

Earnings season has started, we are making 52week highs, let’s take advantage of this and be prepared for any moves in the market and especially in the stocks you are concentrating on.

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