We sold SSO and SPAR for profits, and TIE for a small loss at a price a bit less than the sell-stop (since it opened below that level). We also bought DUG and QID.
| Current Holdings | ||||||
|---|---|---|---|---|---|---|
| Ticker | Basis | Closing Price |
Perf. | Sell-Stop | Add'l Exit Guideline | Chart |
| DUG | 16.54 | 16.48 | -0.4% | 14.99 | N/A | Chart |
| FITB | 7.42 | 7.57 | +2.0% | 7.47 | N/A | Chart |
| SCC | 61.84 | 63.88 | +3.3% | 58.27 | N/A | Chart |
| QID | 32.81 | 33.15 | +1.0% | 30.85 | N/A | Chart |
No new ideas for tomorrow. Whether we're going up or down, I'd like to see some consolidation before entering new positions. Not really part of this system, but if you're short-biased, QID and DUG on a pullback to their gaps might work as an entry, risking to the sell-stop. (QID around 32.20 and 31.60 and DUG around 16 and 15.50.) Don't risk as much as you would normally since this isn't buying on a breakout.
Addendum The prices in the prior paragraph for QID & DUG (namely, 32.20 & 31.60 for QID, and 16 & 15.50 for DUG) are two potential buy prices, as both charts have open gaps at their respective prices. Whichever price(s) that you choose, the idea is to risk to the sell-stop in the Current Holdings table (30.85 for QID and 14.99 for DUG). Thanks to George for pointing out that what I wrote above doesn't make that much sense!
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