The market is not feeling the way it should with the expected V shaped recovery fading. I decided to close a number of positions and play defense should more broad selling be in order.
Caught a nice Breakout, but did not like the 2nd day fade. So I'm out.
I hit another nice breakout here with CDXS running all the way to 3.29.
This one had a lot of potential, but I wind up with mediocre profits as the the bounce on Thursday was rejected forcefully.
Exit 1: 21.45
Exit 2: 20.46
The weekly Chart looks like it is make or break time. If it starts to bounce of the 10 Week. I should look to re-enter. But I want to see that test first.
And Loses are part of the game as long as they are small, I'm fine.
ARNA was a Fishhook set up hat I jumped instead of waiting for the trigger and I paid the price:
I entered as I thought ODP would find a bottom and then resume. Instead I got a late day fade, and then follow through to the downside. Stopped out