My TWTR trade did not last long as I got stopped out today filled at 49.10, which was the b.o. point. I took a 1% hit on the trade which is fine other than I haven't had the big winners that cancels out my losers this month.
I think a lot of the difficulty that I (and others) have had this month is that the breakout trade has gotten choppy. In the right environment, TWTR breaks out and doesn't look back. But many breakouts this month fade and retest the breaking point.
To overcome this problem, my recent adjustment has been to buy the power stocks off a bounce at the 10Week average.
SLINGSHOTS:
Here's a the new setup.
I'm looking for a weekly / monthly RSI to stretch against a pull back on the daily to the magic line. ZIOP had oversold stochastic on the daily and pulled back to the magic line.
ZIOP:
ZIOP bounced off the 10 Week Avg. last week. Not that the market is giving it an "all clear" It gapped up and faded. I bought post-fade 11.68.
LBIO:
Nice bounce off the 10 week. Entry $11.09
INUV:
Just a good ole; breakout off a Fishhook set up,
Entry $2.03
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