We are supposed to hear some information about the bank stress tests this afternoon and that has tensions high. The markets continue to show strength (Qs beig the strongest). The SPY, IWM and XLF appear to be correcting more through time. When we get large news events which can greatly impact trend, it is best to go slow. News releases can bring about large volatility which causes emotional responses from undisciplined traders, don’t be one of them.
Subscribers were advised to have sold 1/2 of MPEL at 4.80 for a gain of .38 and half of the balance at 5.00 for a gain of .58 and stop on balance is now 4.68. $USU should have been purchased at 5.90 with half being sold at 6.10 and a stop on other half now at 6.05. DSX should have been purchased at 1505 with half sold at 15.50 and stop on balance at 15.10 These are merely suggestions on how to trade the setups and how they are tracked, make the ideas your own.