Poor Stock Action & Trading

Quite weak action with a few exceptions today but in the end I had to check out of a couple stocks for larger losses than I’d have liked.

The action since the debate has been poor.

I had to check out of ACIA at 90.15 from my 113.30 entry which really stings and was just a poor, poor trade on my account.

PI was also slammed today and I had to sell out at 27.90 from my 34.85 entry point which is also no fun at all.

I still do have some nice winners which look set to move higher such as REN, AMZNCLVS, BABA, KERX & MOMO but my eyes are peeled and I’m ready to exit those positions quickly if need be.

Let’s get into the charts starting with the SPY ETF.

october-12-2016

SPY broke lower out of the triangle unfortunately but it’s holding the important 100 day average for now.

The action isn’t great here and may well be pointing to lower prices so caution is warranted.

Have a nice night.

Warren

These are my thoughts on the SPY ETF in my Daily Trade Ideas which includes many, many more charts and setups. Subscribe to my ...

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Chee Hin Teh 7 years ago Member's comment

thanks for sharing