Markets were “supposed” to go down when the Fed removed “patient” but they soared instead. Knowing when a catalyst is coming is important, listening to opinions of the “smart people” in the media is not important. Price action tells you all you need to know! The SPY found support where today? Look at your chart, there is a moving average we constantly refer to..
I am on a mini vacation but I am an addict and I don’t want any help! I like being addicted to the greatest, most challenging “game” called the market.
Here is a quick update on our stocks.
INFN- Leave the stop at 1878, give it some room, that is how you ride a big winner.
AGEN- remove from list
INFI- remove from list
MDLZ- if you shorted I hope you managed risk and took a partial profit near S2 and then lowered your stop, you should not have lost money on this trade if you follow the concepts we talk about every single day.
TRMB- no entry due to gap, remove from list
INFA- if in from 4400 your stop should be 4363
AMZN- continue to keep an eye on it, it is extended and needs to pull back for a low risk short term entry
EBAY- remove from list
FEYE- I think this can be a big winner, I plan on giving it some time and some room. Look at last nites post, I think it is wasted energy to try to just daytrade this one. Make the trade your own.
GNTX- pulled back like we wanted and then recaptured vwap, a purchase above 1795 made sense and if you are in a stop should be 1805, don’t let it turn into a loser!
TWTR- set up nicely, keep a close eye on it
VRSK- add this one to your list, above the high of 7197 from this week should see continuation, where is stop you ask? Look at the chart, study it, where is a recent & relevant higher low for YOUR timeframe? If it isn’t obvious then study it further.
I am trying to help you think for yourself. I am on vacation so this is “bonus” material, make the most of it. Please don’t go into the trading room and ask someone “where is the stop?” It is much more useful if you pose the question as “I am thinking a stop for a (daytrade) or (swing trade) should go at xx.xx, does anyone see it differently? You will learn more if you think first and then ask a question.