Correction Imminent?
7 straight up days in the Nasdaq. All weakness is bought. Froth.
Well, we will have a correction at some time. When? My stocks will tell me. What did they say today? Not yet.
I was stopped out of Valentis 10 minutes from the end of trading. I had gradually been ratcheting my stop up and all of a sudden someone dumped 40,000 shares on the market at once. My stop was triggered for a 5.65% gain (4.21% after fees). Not too bad for a day's work, but disappointing nonetheless. I will invest in Valentis again if it allows me a good entry point as I still believe in the company's future.
As for Suntech Power Holdings, I'm still in it and up 2.26%. I thought about closing the position before the close, but the stock was holding well. Additionally, I looked at it's brief trading history and so far, it has no history of gapping down at the open. Regardless, I have a GTC (good til cancelled) stop on for $32.89 which will ensure a positive trade.
Apple continues to astound, up another 3.76% today. With my Valentis and Suntech trades along with Apple and a nice 0.40% move in Google today, my portfolio was up another 1.1%, putting me up 10.39% on the year. I have a healthy cash position (24%) and will make moves to protect capital if/when the market brings in the reins.
Please Read the Trading Almanac DISCLOSURE
Well, we will have a correction at some time. When? My stocks will tell me. What did they say today? Not yet.
I was stopped out of Valentis 10 minutes from the end of trading. I had gradually been ratcheting my stop up and all of a sudden someone dumped 40,000 shares on the market at once. My stop was triggered for a 5.65% gain (4.21% after fees). Not too bad for a day's work, but disappointing nonetheless. I will invest in Valentis again if it allows me a good entry point as I still believe in the company's future.
As for Suntech Power Holdings, I'm still in it and up 2.26%. I thought about closing the position before the close, but the stock was holding well. Additionally, I looked at it's brief trading history and so far, it has no history of gapping down at the open. Regardless, I have a GTC (good til cancelled) stop on for $32.89 which will ensure a positive trade.
Apple continues to astound, up another 3.76% today. With my Valentis and Suntech trades along with Apple and a nice 0.40% move in Google today, my portfolio was up another 1.1%, putting me up 10.39% on the year. I have a healthy cash position (24%) and will make moves to protect capital if/when the market brings in the reins.
Please Read the Trading Almanac DISCLOSURE
posted by Trading Alamanac | 9:49 PM
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