The day started choppy, typical for what is now knows as Whipsaw Wednesday, and not too concerning after yesterdays big move. But worries in the bond market sent stocks plummeting in the afternoon. The S&P 500 continues to trade in a range that could mean choppy trading until there is a breakout.
There wee actually some triggers in the Watchlist, let’s look at those first.
The first was RHT, which moved a little before pulling back below the buy point.
The other was AHT. It actually hit the buy point yesterday near the close, but offered a gain today for a quick one.
As I mentioned yesterday, I am taking partial profits in most stocks that I hold overnight. I am moving stops up as I do this, because I hate to see big gainers turn into losers. It’s a good thing I did this with yesterdays triggers CTR and NTAP, because both did poorly today.
Some recent triggers did well today, like Fridays trigger, AMCC.
Because the market is consolidating with no direction, I am going to take profits early on these. If we see more action like today, I will likely take no triggers.
Good luck and good trading!
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