{+++}Some of the stocks that stopped today still have good patterns, we made money on most and tightened those stops as prices rose, some broke down from their short term bullish patterns, and may be revisited down the road. Patterns change quickly and I’m am on the hunt for potential breakdowns similar to MCO and MHP. RIMM came up short in after hours trading and the stock is paying for it-down about $10, that in itself should put pressure on technology, the market but especially the NAZZY tomorrow.
The inverse ETF’s I mentioned last night all worked well today, technically they were tough to call on specific entries as they are volatile, I’m long SRS,EDZ,FAZ and BGZ personally and for my hedge fund. I day traded some and held some, they will be good for higher prices if this market continues to follow through to the downside. See you guys tomorrow and I am sorry about the crappy feed on StocktwitsTV today at noon, it wasn’t me and it wasn’t you, it was Procaster and Livestream, Stocktwits is working on it.
Here is a decent short set up that I will probably enter tomorrow. LVS and MGM look weak too but already started breaking:
LONGS (THAT HAVE TRIGGERED)
RMBS- 18.48 stop 17 (stopped)
HMIN-buy at 29.44 stop 29 ( nice trade but hit stop)
ENER- BUY AT 13.50-13.60 STOP 12.70 (stopped)
MELA- long at 10.50 STOP AT 9.25
QSFT- 16.25 stop 16.60 (sold half for +.80)
CRY $7.50 stop 8.00 (sold half +.80)(stopped on balance today for +.50)
OVTI- 16.95 STOP 16.40(stopped)
FOR- 16.37 STOP 16.40 (stopped, but ran a solid buck)
SIGA-8.43 stop 7.65
GGC-33.50 (taking a stop right here)
FFIV-BUY THROUGH 39.76, STOP AT BOTTOM OF FLAG AROUND 38-38.25 (stopped)
JAZZ- 10, STOP 9.25 (stopped)
SHORTS NOT TRIGGERED
WYNN- short at 67.86 stop 70
SHORTS THAT HAVE TRIGGERED
MCO-SHORT AT 23, STOP 23.60 ( sold 1/3 today for +3.00)
MHP-SHORT 26.19, STOP 26 sold half today for +.2.00)
NAV- SHORT AT 40.31 STOP 42 (still good, daily chart is horrific)