Yesterday the market opened strong, and then stayed fairly steady throughout the day with the S&P 500 closing +11.38 at 1292.08. Volume also increased from the previous day's volume on all 3 major U.S. equity indices indicating accumulation, so price and volume continue to be constructive.
Several stocks from my setup lists made nice moves, and I did take some profit in HSOL, XIDE, and VDSI. I'm still holding JASO, but I'll likely let it go if it doesn't move very soon. For a hedge, I have a small position in TZA which is down from my buy point.
Pre-market futures are down a bit, with the indication for the S&P 500 cash market down around 5-6 points and the DJIA indicating -45 opening.
If you've missed out on some of the gains in the first week and a half of the new year, resist the urge to "push the trade". If the setups don't develop properly, it's OK to sit and watch. More opportunities will always be present in the future.
Here are a few setups I'm watching for today: ALWAYS use stops to limit losses. (Note: RIG is still in the buy range from yesterday's setup.)
Click on images for a larger view:
No comments:
Post a Comment