I’m out of AMRX (finally). I definitely mismanaged this one. Should have sold it on Friday before the close. I’m now full position with 200 shares of SOXL. I’ve been averaging in this morning. My price is $131.75.
I’m going to start this week with my thoughts on the AMRX trade that I held from last week. It turns out that holding part of the position through the end of the day was a great decision. While the current price is still a slight loss, the stock was strong into the close and I think that’s a good sign. With that said, I don’t want to hold this trade all week. I will not take a full position …Read the full article
I sold half of my position for a loss. Low volume today. I’m planning to hold the other half until Monday.
Short week this week with President’s day on Monday. We didn’t trade last week even though it turned out to be a nice week in the market. I think we have some decent momentum and many of the earnings momentum trades are out of the way, so it should make it possible to find a decent trade. With that said, the S&P 500 is very close to the 2815 line where it has turned around 3 times before. This is …Read the full article
Today was another slow day in the market and I’m not feeling inclined to throw my money behind anything right now. Momentum seems to have really stalled on the major indices and I’m going to keep my eye on the market to see which direction it breaks to. It still doesn’t feel like the kind of pullback where it would make sense to load up on VIX ETFs but it could turn into that and I don’t want to be …Read the full article
Overall, the market seems to be a bit overextended but nothing is screaming “pullback”. If we continue to grind higher, this means that in general, we’ll be seeing slower upward movement as we pass through resistance. This is also not the safest place to be since bad news or other outside factors can really shake up the market. Things move faster downward than upward in these conditions. Futures are slightly down as I type so we could be pulling back …Read the full article
I sold half my position for $0.02 near the close yesterday. I don’t like how this one got stuck twice at $10.80 and I’m reducing risk going into the end of the week.