June 11th Watchlist
Markets are taking a beating in the premarkets today after a negative reaction towards Japan’s decision to keep monetary policy steady on its current course. All the gains put in from the last two trading sessions have been wiped out by the selling pressure this morning and many overnight long holds will feel the pain off the open. The price action we’re looking at right now is more proof of the choppy environment we’re currently in right now. Traders would be wise to pull back on the hair triggers and cut down their time frames by taking profits and losses much quicker.
With the lack of economic data coming out today, market participants will have to fend for themselves and decide whether to chew up this negative reaction or continue with the selling pressure. Lululemon (NASDAQ: LULU) is top news this morning after their CEO decided to step down. Investors reacted by cutting the stock 15% overnight. Apple (NASDAQ: AAPL) should also be active today as the Worldwide Developer’s Conference continues. Yesterday they announced a new operating system, a new MacBook and a competing internet radio service.
I’m going to take a few days off folks, of course we still will be putting up content as per usual. As far as trading goes though, I think it’s a perfect time for me to chill out for a few ticks and wait for a better trading environment to come back around.
We have yet another free webinar coming out on Wednesday after the close folks! We’re going to delve into the realm of SUMMER TRADING! Make sure to register ASAP!
The following article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.