Well, it looks like we got our pullback. Now, let's see some bounce! Today was a (IMO) much needed down day to reset some charts, allow people to take profits, and rest a bit before ultimately breaking to new highs. We might see a couple consolidation days now while the shorts take their profits but I believe this is just a normal fluctuation and is healthy action for a bull market. Until the major trend is broke I'll remain bullish overall, but bearish as required in the shorter term.
I had a decent day today despite there not being much to trade. We laid on some size and had pretty decent results so we'll continue that tomorrow. I closed with around $400 in gains after one loss negated by a solid $500+ short in RAX. This is risk management at work. Keeping losses small and letting winners run. I look forward to watching this strategy and profits grow now that my partner and I are starting to fall in sync w/ each other and with our rules that we're developing together. In the mean time here are some more things to watch tomorrow, though there aren't many!
YOD long. Nice volume expansion today. This will need a good intraday setup but usually big moves start with a small volume expansion like today...we saw the same thing in OPTT a few days ago before it exploded 62% to $7 from my original entry at $4.29.
SYN long over $3.05 for a flag breakout
PVG long over $7.22 for a continuation.
MSO not ready yet but I'll mention it again in case anyone missed the first time - long over $5.30ish for a flag breakout when it gets there.
SPLS short under $11.14 for a bear flag breakdown (this is actually more of a short continuation )
CCRN short under $8.10 for a bear flag breakdown.
Also I'm watching all the gold/miner stocks like ANV, MUX, GG, etc since when the market poops gold usually pops. ANV and MUX took off from my calls a couple days ago but I didn't take either. This stuff is still worth watching for trade opportunities during the day. Alright that's all I got! Hope everyone has a great day!
Chris
DISCLAIMER: I am a day/swing trader. LONG means I'm expecting price to go up, not that it's a long term trade. SHORT means I'm expecting price to go down, not that it's a short term trade. Just because I post these here does not necessarily mean I'm buying/shorting them. They are ONLY ideas, may not be traded at all, and if I do take them, 99% of the positions will be closed by the end of the day. One other thing...any swing recommendations should be taken w/ extreme caution - lock in some profits as I am not checking these to see if they have earnings or anything before posting, so if they do they could make crazy moves. Do your own DD on them. If ya have any questions, feel free to ask below and as always, share your ideas too. The more the merrier!
Submitted March 13, 2014 at 09:49PM by greenbartrading http://ift.tt/1ey43bA
No comments:
Post a Comment