We sold LIHR today for a nice 25%, 3.1R gain (using the aggressive entry figures). The gold sector looks like it could correct back down to its 50-day moving average, so we take our profit and watch for a new entry. We bought TSL today; after some initial strength, it closed down and tanked further after-hours. That's not a great sign for the rest of the market since the solar sector tends to reflect bullish appetite.
| Current Holdings | ||||||
|---|---|---|---|---|---|---|
| Ticker | Basis | Closing Price |
Perf. | Sell-Stop | Additional Exit Guideline | Chart |
| FAF | 28.07 | 28.12 | +0.2% | 27.19 | N/A | Chart |
| TSL | 10.41 | 10.09 | -3.1% | 9.25 | Consider selling on a close < 9.41 | Chart |
While I expect to see further pullbacks tomorrow, there's the possibility that today's action represented enough of a correction for the rally to continue its upward march. The following charts are set up to pop whenever bullish appetite should return. Again, I would avoid the opening hour of trading.
| Ticker | Entry | Exit A | Exit C | Chart |
|---|---|---|---|---|
| VMW (VMWare) | 24.11 | 23.15 | 22.40 | Chart |
| UAUA (United Airlines) | 12.21 | 11.19 | 10.96 | Chart |
| QCOM (QUALCOMM) | 37.14 | 36.04 | 35.34 | Chart |
| DDM (Ultra Dow 30 ETF) | 34.01 | 32.79 | 31.86 | Chart |
Please refer to "How To Trade The Ideas" (right-hand side) to read this table.
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