SOLD HEB $2.49
COVER LEAP $25.42
BUY GRMN $26.43
Markets trading range bound right now and I'm feeling that the markets are either going to breakout further to the upside or correct here as they are hitting the downward trendline. Looking at the S&P500, its right at the June highs and if it can close strong above that level, we will have another strong advance. However right now its getting stuck at that 956 level and is also hitting the long term downward trendline. Today, the candle formed a harami cross, which is a sign of a possible reversal so I'm thinking that there will be some pullback, unless companies continue to come out with stellar earnings that beat estimates. Will be watching the intraday chart for a breakdown/breakout, confirmed by the daily.
I am still favoring Nasdaq tech stocks, as they are performing very well. Many are breaking out and are moving on their own story, not following the market. These are the stocks I love to trade, alpha stocks!! Doesn't matter whats going on with the broad market, these little "motor boat" stocks as I call them, move on their own story.
AFFX is up 20% after hours as they come out with good results after hours today!
Just as I was getting all hot about HEB, what does it do to me today...a kick in the prized jewels! I got out during the day and limited the damage. I was up 17% from yesterday mornings buy so that drop today wasn't a big hurt to my portfolio. And just as I was talking about risk management, this is a clear example. I was thinking yesterday to load up more at the end of the day expecting the stock to rocket higher today. Lucky I didn't or else I would have taken a big hit. Size your positions correctly and manage your risk!!
COVER LEAP $25.42
BUY GRMN $26.43
Markets trading range bound right now and I'm feeling that the markets are either going to breakout further to the upside or correct here as they are hitting the downward trendline. Looking at the S&P500, its right at the June highs and if it can close strong above that level, we will have another strong advance. However right now its getting stuck at that 956 level and is also hitting the long term downward trendline. Today, the candle formed a harami cross, which is a sign of a possible reversal so I'm thinking that there will be some pullback, unless companies continue to come out with stellar earnings that beat estimates. Will be watching the intraday chart for a breakdown/breakout, confirmed by the daily.
I am still favoring Nasdaq tech stocks, as they are performing very well. Many are breaking out and are moving on their own story, not following the market. These are the stocks I love to trade, alpha stocks!! Doesn't matter whats going on with the broad market, these little "motor boat" stocks as I call them, move on their own story.
AFFX is up 20% after hours as they come out with good results after hours today!
Just as I was getting all hot about HEB, what does it do to me today...a kick in the prized jewels! I got out during the day and limited the damage. I was up 17% from yesterday mornings buy so that drop today wasn't a big hurt to my portfolio. And just as I was talking about risk management, this is a clear example. I was thinking yesterday to load up more at the end of the day expecting the stock to rocket higher today. Lucky I didn't or else I would have taken a big hit. Size your positions correctly and manage your risk!!
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