Yesterday was a decent day. The indexes were up slightly and the S&P made new highs. I wouldnt technically call it a breakout out since it just barely passed new highs and the vol was week. Regardless there was booooooooooooooooooom all around for I am not beholden to any index except the one that the big man carries upstairs.
Regardless careful of adding too many longs here. Even the S&P made new highs the vol was ok and the stochastics are getting overbought which traditionally will lower your edge. Doesnt mean go out and sell everything but its a good time to treat yourself to a little profit ( or in my case biiig profit), tighten up all your stops, and be more patient and selective on any new buys longer than a 1 day timeframe. Thats what seperates the geeky amatuers from the big hairy men with gold chains. I saw it all around on twitter people feeling like they missed on a lot of boooooms. Most traders will always scramble and chase market performance while the booooom makers such as myself sit back drink some beers and kick it laughing at all the strange little men in fanny packs scrambling to catch the last tenth of a run.
Couple swingtrades. I have added a Gold Short via DZZ at 18.22 avg. My stop is 17.85 Gold failed to break its highs once again. I went short via the reverse etf.
I have sold out of most of my small cap oil and gas companies as TEC, QRCP have all run up 100% in the past week. I still have a host of them in my other accounts like NEP which I will keep till 6.
You can still daytrade those as they have volatility but if you are looking for longer term swingtrades that will make you big percentages you need to find the ones that havent moved. Go on Google Finance type in a company thats had a big run and start looking at its competitors.
BioMania is still going. Americans are still have impotent chubby chasers who will need drugs. I checked out the presentation on cycc via @stockgod. Its got some support in the .9s. Any price along .95-1.02 might be decent for a starter position. Small though dont put your balls in a vice here watch it see how it trades for a couple days to get a feel for it then add some more.
Keep an eye on EDAP low float play. Had big big breakout. Its been consolidating its run and could be setting up a huge move soon.
I will be morning drinking then golfing all day. Its always good to enjoy yourself once in a while and since I a man of excess I will be slamming whiskeys shortly and doing donuts on the greens. I will be posting some buys and sells but I would not trust them! But I must say last time I was getting slammed in the a.m. I called a 40% boom on CROX.
Rest assured I will be back on Monday giving double titty twisters to unsuspecting french tourists drinking large vats of coffee and gifting you my 6 brains, two hands, and general stock market commentary.
