Today was a very dull day in the markets due to quadruple witching. I originally told myself that I would not be taking any trades today, but I logged on to my account and traded anyway. I took a total of four trades today and none of them were spectacular. Using the Finviz Screener, I found 2 stocks that I took trades in, WRI and ARE. My trade in I was stopped out in my WRI trade fairly early for $0.30 cents, and ARE I managed to scalp $0.35 profit. After that, I took a trade in ERX on the 5 minute chart which turned out to be much more risk than I was willing take. So, I took a 35 cent hit, and ended the day off shorting BXP where I got stuck in my position and had to limit out after the close taking another small hit of $0.16 cents. Overall, for my day trades, I took 4 trades and had a gross loss of $0.46 cents. Not great, but definitely not terrible.
I am still holding my swing trades, and they all came down off of yesterdays highs. PCX dropped off the bigges from yesterdays highs falling $1.32. I am now down on PCX holding 200 shares at a price of $3.82. I feel that this is just a pull back and I might even add to this position if I see it holding some strength next week. I am still up ).48 cents on 100 shares of EBAY, and am holding into next week as well. Finally, my position in LDK still looks good to me on the daily chart.
Despite the pull back in the market, I am still bullish going into next week. I believe that we still have a little bit left in this bear market rally. If I see weakness in the market next week and we show signs of a reversal (which will come soon), I will take profits next week. That's my game plan as of now.
That is all for now! See you in the markets next week!
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment