What a day. The Dow closed above 10,000 for the first time in a year, and with nice volume. The indexes, which were exhibiting potential double tops, are now breaking into new highs for the year. This is bullish, plain and simple. We may see some selling here and there, but the trend is higher until we see otherwise.
Many of the stocks on the watchlist gapped up, but most pulled back, then moved again, allowing for entry. I also had some great moves in stocks that triggered in the last week. First, let’s look at today’s triggers:
GOL finally triggered. It triggered at the open and just moved higher all day. It is a Brazilian company and Brazil is hot again, and could be for a while.
EWBC also triggered at the open, and just kept moving.
These next 2 had triggered in the afternoon.
I bought FLEX after the pullback, although it didn’t show much strength.
I bought CCI at the open, which gapped up slightly, and basically closed flat in this.
By stupid trade of the day was in SLG. It triggered at the open, then sold off with the market in the morning. Instead of trusting my stop, I sold it at what turned out to be the lows of the day. Lesson: Don’t overthink a trade, let your stops take you out if you’re wrong.
Stocks INFA and COT gapped up and never pulled back below the entry point, so I didn’t chase them.
Just an awesome day in recent triggers, most of these I am still holding.
Got stopped out of this one after it tirggered. Wish I had been watching it today.
Big earnings day tomorrow with GS and C before the open, and GOOG after. Should be market movers.
Good luck and good trading!
RSS feed for comments on this post · TrackBack URI
Leave a reply