[10:56] <brandon> 10:56:42 STOCK SCALP TRADE UPDATE: APPX look to take some more profits off in the 27.10 area [10:57] <brandon> 27.17/15 trading now [10:57] <brandon> You should be out of the trade now Brandon
Pretty slow and unspectacular day. The market is resting right now and figuring out what it wants to do. The next few days will be key. Brandon
Trade Update. Juniper (JNPR) was given on Monday and taken long from $12.10. It hit its target of $13. The initial risk on the trade was just over $0.10. Ebay (EBAY) was given as a setup for yesterday and setup when it traded above $95.15. You should have profits taken off in 1/2 to 100% of the position, and stops move to breakeven on any remaining shares. Overall the market looks fairly good, though we are due for a pullback which it looks like we will be getting here. The next few days will be important to watch. You can never tell how strong a market truly is until it pulls back, so this is a great opportunity for short term traders. The market has remained very favorable for swingtraders. I would continue to lock in some profits on open long trades, and perhaps explore some shorting opportunities with reduced position sizes. Generally speaking I think that Thursday will be a slow day as the market continues to rest. I think we still have plenty of upside (both shorter term and longer term) Goldman Sachs (GS) has been in a sideways trend on the weekly chart. Over the last month or so it has rallied up to the top of its most recent trading range. When range bound stocks rally to the top of their ranges traders should start to look for shorting opportunities. Typically these opportunities present themselves on a smaller timeframe. With Goldman the daily chart is starting to form an avalanche pattern, which may provide for good short entries. http://www.tradingfrommainstreet.com/chartpatterns/all.asp#avalanche For a free trial to the TFMS Live Trading Room Visit our homepage: http://www.tradingfrommainstreet.com Brandon
[08:58] <brandon> 08:58:34 STOCK SWING TRADE UPDATE: ADBE look to take profits on 1/3 to 1/2 of the trade and bring stops to breakeven on the balance. Trading 37.18.
[12:51] <brandon> 12:51:11 STOCK DAY TRADE UPDATE: GD take partials so that you have 1/3 of your position remaining. Trading 65 here
[13:39] <brandon> Pretty sure Im done for the day [13:39] <brandon> not too much action out there that I like [13:39] <brandon> overall a pretty good day [13:39] <brandon> S short from 26.95. Coverd 26.99. ADBE long 36.80, covered half 37.18 and half b/e. VRTS long 25.60, covered 25.78, INTU long 42.15 to 43, ALTI long from 1.15 stoped 1.08, SURE long 2.74 and out 2.74, RDRT long 1.27 to 1.32 average and GD from 64.70, out 2/3 at 65ish and holding the rest probably as a swing. LAB 20.35 to 20.55 average.