What a day. I’m a little grumpy this evening thanks to my iPhone alarm NOT going off this morning causing me to completely sleep through the opening rally. UG. I ended my largely on the sidelines cursing and waiting for new setups.
Anyway, I hope all of you were able to book some profits and enjoy the rally. My man, Kunal, had another incredible day in the Boom Factory – at least he woke up on time.
The overall market weakened as the day went along, so taking profits and scaling down big winners was probably advisable. That doesn’t mean we won’t continue the move up Tuesday, but the market is officially overbought now and a pullback and/or consolidation would be good here. But, price is all that matters, so we’ll continue to look for the movers in the market and manage risk based on overall market and stock momo.
Swing Watch List Update:
The SWL continues to be very strong and hopefully helpful to many of you that are focused more on swinging positions and are unable to participate in the Boom Factory throughout the day. Many of these stocks are now at double-digit returns! The list has been updated included new stops and notes.
Three stocks where stopped out today:
EGO stopped out for 2.05% gain
VTG stopped out for a 1.49% loss. However, VTG finished strong and should be watched Tuesday for a possible move.
CPSL stopped out for a 20.25% gain. Shizzaaammm. Congrats if you played.
I’ll have a post later with some new stocks to add to the list to keep an eye on for Tuesday.