Oil continued its decent today, and oil and commodity stocks followed the path lower. The indexes closed a little higher.

There were two stocks from the Watchlist that triggered. Lets look at those. The first is EDU. It broke out of this small pennant and closed a little higher.

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SQNM barely triggered at the open, but didn’t move much higher.

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Take a look at yesterdays trigger, QCOR. It had a very bad day. When I posted the chart on Sunday night, I mentioned that this would need heavy volume. It triggered, but with low volume. This is the danger of buying low volume breakouts. It indicates that there isn’t participation by the institutions. These breakouts should be avoided, or at the very least, not held long and with tight stops.

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Meanwhile, CYBX moved slightly higher.

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A Personal Note:

The purpose of this blog is to keep myself current on what’s going on in the market and check charts every night, and hopefully help some other traders in the process. I don’t talk about my personal life because I want to keep this focused on trading, and I’m not that interesting anyway. But I am getting married this weekend, and will be (and have been) very busy. I will be taking some time off starting now, and should be back with regular posts in a couple of weeks after things settle down. I’ll have one more post tomorrow, and then I’ll be taking a break.

No trade ideas for tomorrow.

Good luck and good trading!