I was initially quite nervous about trading into an over-extended market this week because the SPX is trading at all-time highs (which it closed above on Friday). Since the Nasdaq (QQQ) and Dow are in different situations, I’m not quite as worried. While the QQQ is also trading just above an all-time high, the previous high is only a month old and the chart seems to indicate that this is more of a continuation of an up-trend. The SPX broke …Read the full article
Great Trade this Week! My limit order filled near the market open at $3.69. +5.1% Not bad for a ~1 day trade! CYH faded some after the open but I still like this stock and I think we’ll see it pop back up if the market continues to be strong this week.
The markets look to be very close to all time highs this week so watch to see if we break through. Good volume came in towards the end of last week, so I’m cautiously optimistic that we will get a green week. The high for the S&P is about 2873 so watch that spot. Healthcare was in a breakout last week and I expect the trend to continue. I like Community Health Services (CYH) if it gets above $3.47. If …Read the full article
Unfortunately, I got stopped out of CHK today at about $4.26. -$373.44 ?
CHK stabilized so I jumped in mid day today at $4.51. Recently this has bounced in the $4.35-$4.40 range so my stop is just below that. I’m hoping for 5% on this trade but may take less if it doesn’t move by the end of the week!
The overall market looks like it will be continuing the pull back that began towards the end of last week. The QQQ, SPX, and DJI daily charts have all pulled back to the 20 SMA: It isn’t a good idea to force a trade during a weak market and while I think this pullback is short term, I will not trade until I feel like the market has conviction. Don’t try to catch a falling knife! I will reassess near …Read the full article
The Trade of the week did not work out for us this week. I bought 80 shares of PETS at $38.25 on Monday and sold shortly before the close on Friday at $37.65. (1.9% loss) To be honest, this was a very poorly timed entry for me. As you can see in the plot below, I bought right before the previous high of $38.34 on August 3rd as it pulled down from a new high of $38.40. I was expecting …Read the full article