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No video tonight as I am taking a breather. The market has been jerky and I don’t want us to be be too exposed. We had a few long triggers immediately fail since Monday morning as the market decided to fail early Monday morning from what was perceived to be a very decent housing number, but that’s the market.
Tomorrow could be a day trading day so stay close to twitter. SNDA that was mentioned as a short last night triggered at 50, I covered for about 50 cents but had over a buck at one point, it was very whippy. The market seems undecided here and I’d rather be cautious until I figure what it wants to do tomorrow. W are long CREE and so far it acts well.
I’m leaving the watchlist in tact for now. I will be at it early tomorrow and will post pre-market. I spent three hours on charts tonight and nothing jumps out at me, that’s weird, so lets take it slow until we pounce hard soon.
WATCHLIST JULY 26
LONGS (HAVEN’T TRIGGERED)
MDRX – 16.67 STOP 16,25
PWRD – 36.12 STOP 35,20
BHP- 62.92 STOP 61.50
ANEN- 18.74 STOP 18,30
LFT- 28.36 STOP 27.50
UYM- 22.42 STOP 21.80
MELI- 31.50 STOP 29.70
LONGS (HAVE TRIGGERED)
CREE- 31.80 STOP 31