Based on the price action in the markets and the roughly 100+ momentum stocks that I keep track of daily; I see no reason to be bearish here. Although I'm not a raving bull at this point; I'm certainly leaning bullish.
This stance led me to add a couple long positions in $LEDS and $YY after coming into Friday with 100% cash.
Further TV-Broadcasting, LED's and Taiwanese Small Cap Tech are the major themes that I have noticed. I already have some exposure to the LED theme via $LEDS but will be looking to add more. Stocks in these areas have weathered the correction the best and this is where I will be looking to add exposure to my portfolio via the specific ideas below:
TV-BROADCASTING:
LED's:
TAIWAN:
Wi-fi stocks have been very weak over the past couple months on negative earnings outlook for the upcoming quarters. As I see no reason why the weakness will end in the short term I like $RKUS short from this group. I noticed quite a few traders were trying to bottom fish in this stock last week which means that a lot of stop losses will be triggered likely sending this stock sharply lower should it trade through its all-time low. Here's how I plan to play it:
Journal of my thoughts and trades on the path towards achieving a consistent monthly income from day trading!
Subscribe to:
Post Comments (Atom)
MY DAY TRADING RULES
I will ONLY put stocks BREAKING OUT OF DAILY CONSOLIDATIONS TO NEW HIGHS OR NEW LOWS ON HIGH RELATIVE VOLUME from my DAY TRADING SCAN into m...
-
I sold my two overnight positions early in the session and went to 100% cash. $VSAT I took a flat on after being up nicely at Tuesday's ...
-
Although I made a decent gain on this trade; I missed out on a lot of upside!
No comments:
Post a Comment