More choppy action in the market as the indexes continue to consolidate, preparing for some big move.
While the indexes chop around, there continue to be some nice moves in stocks for nimble traders though. One of my stocks made a nice move today, OCLR.
Other stocks from my watchlist triggered, but didnt make any big moves. TRW triggered but pulled back.
ETN gapped slightly above my buy point. I probably should have waited to buy, but I took it. Hoping for upside here tomorrow.
Triggers are only working for a couple of days, maybe three. This stock triggeed Friday and continued nicely today.
SMOD follwed through a bit today.
Meanwhile, GSIC continues to move higher on very heavy volume. There’s been no reason to sell this one (although I already did).
As mentioned in last nights post, GLD is looking sick here.It’s made a pretty big run.
The last big run that GLD made was in late 2007, early 2008. As you can see, GLD went parabolic, then ended badly (and took the stock market with it). You can read my posts from March 2008 describing this topping formation here, here and here. Compare that to what is happening now in GLD. Will history repeat itself? Notice from this chart that the volume during Friday’s drop in GLD was much higher than in 2008.
Good luck and good trading!
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