Market correction; TechnicalTrades.net Portfolio adjustments.
Technicals are ripe for an impulsive correction in the market in the next 2-3 weeks, perhaps commencing Monday …… so some adjustments are called for in the Technicaltrades.net portfolilo.
I’m looking for $INDU drop impusively to 11500, so seriously consider taking profit on long stock positions or hedging, reentering or adding in a couple weeks. Remember, impulsive moves are fast and have high volatility!
Freeby info: Weekly Vector has just closed bearish. Daily Vector has been bearish since two Thursdays ago.
Technicaltrades.net Portfolio Adjustments.
WINNERS:
I note the following tickers and % gains in the technicaltrades.net portfolio, and will assume all profits are taken on Monday:
AWX +44.5%
ADBE +42.9%
AAPL +26.1%
RIMM +22.46%
AAPL +21.2%
TOL +20.8%
ORCL +19.42%
DDR +18.6%
NVAX +13.9%
GOOG +12.4%
ACI +12.1%
STKL +10.8%
QQQQ +9.7%
NKE +8.5%
SPIL +8.4%
FDX +8.4%
CMG +6.1%
HOG +2.4%
AEOS +2%
BUD +1%
311.68/20
Average winner = +15.6%
LOSERS
Closing these for loss:
SWHC -0.08%
USAK -1.05%
ARRS -1.6%
AKAM -3.3%
KNOL -4.4%
DCI -6.4%
KLIC -10.8%
IMCL stopped out -9%
Average loser = -4.6%
Win/Loss ratio = 14.1/4.6 = 3.1
Probability of winner = 71.4%
Equity Curve on closed positions:
Very nice curve!
Open longs with recommended stops:
GNBT; stop below daily symmetrical triangle.
OMCL; stop below daily symmetrical triangle.
SPPI; 5.25
CERS; 7.27
RURL; 8.30
ASF; 41.25
ERTS; 53.05
JNJ; 64.50
SPWR; 23.70
Others:
REGN stopped out even after +10% move.
The following shorts continue with “open” status:
EEE +33.5%
PARL +25.7%
PARL +17.3% (will add via sell stop order $6.15
ENT +13.10% (adding open Mon, falling in Fuzzy C; stop 10.20)
BDCO +13.9% (adding to this at open Mon based on daily Fuzzy C; stop 4.60 over Fuzzy C resistance)
PLLL +7.6%
ELN +3.7%
YHOO +3.32%
SM +2.82%
IFIN -4.5%
OLN -6.2%
ERF -13.1% (I am adding to the ERF short at open Monday based on daily fuzzy C)
CCC -29% (stop 6.20)
TechnicalTrades.net open portfolio below, and sits +3% on the average with 17 open winners, 7 open losers.
