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Friday, October 16, 2009

Day Trading Post #70

Today was not as great as the past two days for longs, and my account value pulled back, but despite how the market traded today on options expiration day, we are still in a bullish market. Take a look at the weekly indices charts and you can see we are breaking above resistance. Sure, we are going to have pull backs, but we should be "buying the dips and selling the rips" in this kind of market.

As for my positions, many of them pulled back today, and I am not too worried about them except for LDK and AET. LDK missed my stop today and bounced back up a little bit, but still looks pretty sick to me. AET sold off today, and I may just eat the loss on these two positions and put my money into some stocks that will work.

Other than that, since last week, my portfolio is up and things are looking good. Have a great weekend!

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