By Orion
Just a quick note to update on where I am in the market.
The markets have been heading south.
Sells
- Stopped out of FO at 47.14 for a loss of 1.00
- Stopped out of BBBY at 40.20 for a loss of 1.00
- Stopped out of CCL at 33.70 for a loss of 1.12
Buys
- Bought HD at 30.30 off of lower trendline support, stop set at 29.30, target 32.50 (7.3%)
- Bought KIRK at 17.90 off lower trendline support, stop set at 16.60, target 20.70 (15.6%)
- Bough BIG at 31.50 off lower trendline support, stop set at 30.50, target 34.00 (7.9%)
- Bought JWN at 36.10 off lower trendline support, stop set at 35.10, target 40.00 (10.8%)
Good luck and green trades!
-Orion
By Orion
I thought the market was going to be as hot as the weather. But as the heat of the day kept going, the market turned cold. I thought alot of the patterns I was looking for broke on the big gap up this morning.
So, I’m still holding C which showed good strength today, and almost got stopped at of FO today. However, I did pick up two stocks in the sell off this afternoon.
Here’s the first one I bought, BBBY. it was on my watch list. Nice down channel heading into the EMA200. All the charts look good for a bounce, but time will tell. I bought inat 41.20. Target sell is around 44.00 for 6.2%. I have a dollar stop set on it.
And for the second one…..
CCL wa another on my watch list. It is bouncing off the EMA200 in a slight ascending triangle. The only problem with this one is the stochastic line. It hasn’t quite gotten to overbought yet, so it may go lower or chop around a bit before heading back north. Time will tell. I bought in at 34.82. I have a dollar stop for protection. Target sell is 37.40 for 8.2%.
Still watching SCVL, DBRN, KIRK, GNW, MT, and SWC. Watch the market, it will be iteresting to see what happens tomorrow.
Until next time, good luck and green trades!
-Orion
