The Wrap 10/13/11

{+++} It was a choppy session, but we managed some winners with MELA which is up over 10% since yesterday’s recommendation. I also added CHRS and AAPL as longs today during trading and they have been added to the P&L so please check it out.

We caught a nice trade on WLT on the chat room today, we sold half and we are holding half.

GOOG blew out earning right after the close of the market today so that should be a good omen for the market tomorrow, but especially for technology.

I have added two new names to the P&L tonight: MAKO and NSR. Some longs are starting to set up, but we really need to be careful here. A close over 1221 would make me feel better and a close over 1230 would really give me some confidence from the long side. Remember, the bears want this rally to fail and they are always ready, so stay on your toes and use your stops.

P.S. It is your job to check the P&L and read the blog every night for any updates. Hope you guys had a good day and I will see you tomorrow.

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