Since the third wave of this impulse extended, there's little chance of the fifth wave doing the same. Nevertheless, new highs look probable, even if they end up being marginal. Furthermore, new highs may be sold immediately, like Monday's and Tuesday's. Since this is the fifth wave up, with little chance of extension, that's something we should consider doing also.We were stopped out of PAL and into QID today.
| Current Holdings | ||||||
|---|---|---|---|---|---|---|
| Ticker | Basis | Closing Price |
Perf. | Sell-Stop | Addl Exit Guideline | Chart |
| GS | 160.91 | 165.95 | +3.1% | 162.59 | Consider selling partial positions into strength on new recovery highs in the S&P | Chart |
| FXP | 10.04 | 10.39 | +3.5% | 9.65 | N/A | Chart |
| SRZ | 2.19 | 2.14 | -2.3% | 1.98 | N/A | Chart |
| QID | 25.79 | 25.51 | -1.1% | 24.94 | N/A | Chart |
| VXX | 57.34 | 58.95 | +2.8% | 56.06 | N/A | Chart |
Playing new longs seems a bit dangerous right now, but some charts look OK. BGU is day-only; sell by the close.
| Ticker | Entry | Exit A | Exit C | Chart |
|---|---|---|---|---|
| CPF (Central Pacific Financial) | 3.38 | 3.09 | N/A | Chart |
| REG (Regency Realty) | 33.27 | 32.42 | N/A | Chart |
| SEED (Origin Agritech) | 5.12 | 4.81 | N/A | Chart |
| BGU (Large Cap Bull 3x) | 47.57 | 45.99 | N/A | Chart |
| SKF (Ultrashort Financials) | 27.76 | 26.72 | 26.31 | Chart |
| SRS (Ultrashort Real Estate) | 11.94 | 11.37 | N/A | Chart |
Please refer to "How To Trade The Ideas" (right-hand side) to read this table.
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