Futures are gapping higher, but should they be trusted? Or are most people going to wait on the sidelines for a pullback that doesnt happen? Gaming this mornings open is tough, I’m going to err to the side of caution and hope there is a good opportunity to buy some of the most oversold large cap nasdaq stocks, stocks like; AKAM, AMZN, BRCM, GOOG, MNST. These are all risky stocks and I will trade them very aggressively, if you trade them, be careful. My plan is to wait for a pullback that holds above daily VWAP and then buy strength with a tight stop.
One stock that doesnt look worth buying is First Cash Financial Serfices (FCFS), the featured stock on WALLSTRIP