Wednesday, May 27, 2015

May 27, Sell off held in check.

The markets gained back much of their losses from yesterday.  Looking for another run at the highs tomorrow. 

I was never that keen on this breakout.  Perhaps its because It initially faded on me before breaking out.   So at the first hint of a pull back I bailed.  I need to trust my charts more.
The W1, was at 17.63, however, I saw that this had a number of shadows at the 18.00 level so I targeted a move above 18 for the kill.

I took it at 18.12.
Exit 1: 18.44
Exit 2. 18.35.

As I now look at this chart I see there was no reason to get out.  But sometimes clarity only comes when the slate is clean.

AGEN: A great breakout. Given the rest period shadows I set my alert for the high on the past W2 (red bar) my alert was set at 7.32 but this one was quick so I didn't get it until 7.47 and I knew I wanted it so I paid up to 7.49 for the remainder of my position-- a wise decision this was decent all day.

Hourly: getting to some very overbought levels.  To that end, the plan is to take partial profits into the initial opening thrust.  Should go over 8.

TROV:  Back into TROV has it had a successful back test and has ran back into consolidation. This one has already proven itself
Big Picture:  I caught the big breakout early this month.  It looks like it has an ascending base here.  Since the back test was successful, a another burst could follow.

Entry: 11.29

Yesterday I sold a portion of my AAOI position into the thrust over 19.   Today, there was weakness (expected after a 16% move) and I was ready to pull the trigger to buy my position back.   I got it at
18.18 --.12 off the low -- a decent pop followed.


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