After a weeklong drop, the market roared back today, recovering much lost ground and closing at the highs. This was no sideways straggle but a sharp impulsive move that can resolve as either a last-gasp type of counter trend rally (i.e., wave 2) or the beginning of the next leg up, potentially to new recovery highs. Another wide-ranging up day tomorrow, especially with a strong close, would favor the latter. Given the way the Russell 2000 has broken down, however, I put more stock in the former scenario.
Sold today were EEV, SRS and DXD, the latter two for losses.
| Current Holdings |
| Ticker |
Basis |
Closing
Price |
Perf. |
Sell-Stop |
Addl Exit Guideline |
Chart |
| TWM |
27.58 |
30.42 |
+10.3% |
28.63 |
N/A |
Chart |
| DUG |
12.33 |
12.70 |
+3.0% |
12.28 |
N/A |
Chart |
| SDS |
38.78 |
39.24 |
+1.2% |
38.79 |
N/A |
Chart |
| QID |
22.51 |
22.96 |
+2.0% |
21.93 |
N/A |
Chart |
1 comment:
nice job with the holdings for the day. I made some money on Opnt and got lucky.
Post a Comment