What's encouraging is that the Nasdaq's pullback did fit the "mild consolidation" bill—it closed above support—and we did have three up days in a row before this pullback. So let's see if the bulls will only let it be a one-day thing. If not, time to get defensive and seriously consider the possibility of imminent new lows (depending on how much lower the market closes).
No new holdings, and by Friday's close we will have to sell BEAV because it reports earnings on Monday. A real shame because this chart looks like it has great potential. In fact I had it at the top of my preliminary list for tomorrow, but earnings risk is simply too high.
| Current Holdings | ||||||
|---|---|---|---|---|---|---|
| Ticker | Basis | Closing Price |
Perf. | Sell-Stop | Additional Exit Guideline | Chart |
| BEAV | 9.07 | 9.87 | +8.8% | 9.56 | Close position by end of day | Chart |
| AAPL | 90.01 | 93.00 | +3.3% | 89.73 | Consider selling on a close < 92.60 | Chart |
| ICO | 2.53 | 2.62 | +3.6% | 2.45 | Consider selling on a close < 2.57 | Chart |
| IVN | 3.01 | 2.82 | -6.3% | 2.59 | Consider selling on a close < 2.81 | Chart |
| TWC | 18.93 | 19.32 | +2.1% | 18.79 | Consider selling on a close < 19.05 | Chart |
For tomorrow, let's stick with strength, Nasdaq stocks.
| Ticker | Entry | Exit A | Exit C | Chart |
|---|---|---|---|---|
| QQQQ (Nasdaq-100 ETF) | 30.66 | 29.47 | N/A | Chart |
| EXPE (Expedia) | 9.44 | 8.91 | 8.60 | Chart |
Please refer to "How To Trade The Ideas" (right-hand side) to read this table.
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