Today was shortened for me today (had to take the dog to the vet), but I was able to make some trades this morning on the morning ‘V’ shaped bounce.
I finally got out of my SLV call for 25% gain. That felt good.
Stopped out of EMMS – ug. I still have an eye on it, however as SMA50 looking to move through SMA200 and price finished above SMA20.
Closed AVL for 2.8% gain. Left some money on the table there.
I traded AUDC twice. I took quick losses this morning and then jumped back in for strong returns after a bottom was put in and the market reversed.
SHZ ran down with the market today and I didn’t try again. Gotta cut your losses when the setup doesn’t work – period.
PCX calls – I picked up some PCX this morning on the gap-down. Still holding
SIFY – Still holding. This is a risk trade, but I like the volume and hold of SMA20.
CIGX – a volume trade. See chart below.
ZIOP – this was a bad trade. I should have read the news first… it would have told me that the chart was going to be held down today. I’ll keep an eye on it, however, and play again if it gets above recent highs.
OK, back to CIGX trade review:
First, notice that CIGX was putting in a bottom. All three of the lower indicators were bouncing back up BEFORE today. With that, we were looking for a strong move to confirm the reversal. Today was that day. For me, I like to buy stocks above their SMA10 levels, if possible. So, for CIGX, I entered at 1.68 (just above sma10). We also had significant volume support. The only problem was that I sold a little earl 🙂 I thought SMA20 was going to cause a problem, but it managed to push higher before finishing lower. If you went long in this stock, it was a clear sell on pullback to SMA20.