Move the stop loss on SRS up to 93.00.
I am purchasing August 45 Strike calls on QQQQ and will track this on the blog. There were market wide signs of at least short-term bottoming today. The April gap ups on the Nasdaq have been completely filled now in conjuction with a high volume bullish candle pattern today.
I think it is time to get aggressive for short-term trading. Stocks I am considering are CMC, ROST, NETL, GGB.
For anyone trading (shorting) GLD that would have been a stop loss today the way I trade. I am holding some (losing) put options on it still. There has been a mixed relationship in gold and stocks in recent months. At some market bottoms gold has topped, and occasionally they have moved together. With the markets appearing to bottom now, I will give GLD a chance to pull back, but the break of what I had suspected to be the "C" leg of a triangle pattern, is not ideal and should be grounds for exiting any trade that does not have limited risk like an option does. At minimum, a relatively tight stop loss should be in place for protection.
Pete
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