November 2, 2010 | In: Opinion

Volatile Day Ahead

The market will open in a 15 minutes (or less), and most of the stocks I’m watching are up in the pre-market, let’s see if the levels we’re seeing ahead of the trading are sustainable throughout the day. I personally feel that today will be very volatile (because of the elections), where most stocks will have a rollercoaster, including, but not limited to, BAC, BP, and C.

I think today will be a perfect opportunity for swing traders, provided they time their tradings correctly.

Here are some of the pre-market prices of some of the stocks I’m watching:

BAC: $1.58, up 8 cents.
BP: $41.23, up 46 cents.
C: $4.18, up 3 cents.
MFC: $12.64, up 8 cents.
RIG: $63.27, up 37 cents (I have the feeling though that the stock will go down from this level, and will probably close lower than yesterday. RIG is bearish for the last week or so).
SIRI: $1.58, up 4 cents (or 3%).

Oil is also up, but for some feeling I feel that it will trade lower by the end of the day. There is no need for oil to be up $1 in a day.

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