Another up-day in the market with the NASDAQ leading the way. It’s hard to imagine this index moving much higher from here without some rest.
AAPL earnings is what drove the NASDAQ and other tech stocks higher. I had AAPL on my Watchlist back in December, and sold it last week. I rarely ever hold into earnings, and when I do, I usually get burned. Although I missed out on today’s big gain, I have no regrets. It was a very nice trade.
Yesterday I had another trigger from my Watchlist, CPT, which continued today.
Today was a very good day for many stocks I was holding, and a big day for my account. Here are some of the stocks I am still holding which did well today.
BEE wasn’t on my Watchlist, but picked this on up on the 11th and posted here.
ELY has been moving strongly.
Had I posted last night, CXO would have been on my Watchlist. I picked this one up today.
A rest is overdue for stocks, but there are still charts setting up and taking off. I will try these two if they break out from their patterns.
Good luck and good trading!
Not much movement in the Indexes on Options Expiration Friday, with the exception of the Dow, which closed up .76%.
Some recent triggers which I am holding made nice gains later on Friday afternoon, and of those, the best were GLDD, LHO and RBA.
NOG on the other hand, turned around and hit my stop. I had high hopes for this one, as I thought it looked like a strong chart. They can’t all be winners, and this I am out of this one for now.
There are fewer charts setting up, since many of them have already made nice runs. At this point, I am only looking at the best charts, and to my eyes, CPT was the best one I could find.
Good luck and good trading!
Another upday for the three major indexes, which pushed higher on good volume.
I mentioned in last nights post that I only had one stock on my Watchlist, but that wasnt true. I still had RBA. This was a trade I took in December, which didnt work out as well as I had hoped. I entered again today, hoping for bigger gains.
Yesterdays triggers NOG and SRZ continued today.
And two other recent triggers AES and NUE moved today. I am still holding half positions in these.
The McClellan Oscillator is a reliable indicator for predicting market tops and bottoms. Even with the market moving higher, the indicator has still not reached levels which usually precede a top. This could mean more upside is still possible.
It’s funny how the market changes. The second half of 2011 was terrible for swing trading. This month, if you picked a random stock and held it, you’d likely be holding onto some gains. I don’t know how long this market will continue to push higher, but I don’t plan to sell until stopped out.
Tomorrow is Options Expiration and I am holding more stocks than I have in a long time. I am not anxious to add more stocks, especially since good charts are now hard to find. I still have TRLG on my watchlist, but that may become a better short. I am not adding any new stocks to my Watchlist for Friday.
Good luck and good trading!
