Let me start by saying Tips are for waiters! These post are my trade plans & not advise. Trade these stocks at your own risk! You should have a reason for every move you make in the markets other than just to profit. We all want to profit but it is important that you know why you are buying & selling. Do not chase stocks if they are extended, which many are at this point. Wait for them to pull back closer to the break out pivot. You also need staying power, the biggest money is made by holding when stocks make big moves! Case & point $TSLA some sold to early & missed 30 points of profit (don’t feel bad I missed the whole move). If by chance you sell to early don’t dwell on it, that will only lead to bad trading & might cause you to miss the next set up. Don’t be scared on losing a profit! Profits take care of themselves. Be scared of not taking a loss because losses take care of you. I took 3 losses in the last 2 days. Two of my shorts got stopped out yesterday $EXPE & $RAX & I was happy! Let me explain why! First off I saved money by getting stopped since $RAX & $EXPE both went much higher. Second it freed up my capital which allowed me to enter a long trade in $DDD yesterday & $QCOR today. Both stocks exploded today, granted $DDD came in to close the gap & only closed up 3.63%. It was up today as much as 11% at one point. The reason I didn’t let $LNKD get to my stop is the market was very strong & $LNKD is a momentum stock & has the ability to make big point moves. I would rather get stopped quickly then die a slow death. There were many high volume break outs today but I will stick to the higher probability ones. I will post the charts first then put my game plan at the bottom of the page.
Click on the charts for the notes!
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All charts are provided by www.marketsmith.com
Current Holdings Updated Charts:
Stock had a monster day! I will be selling 1/2 on the open per my rules since I have a 1.86R multiple & moving the sell stop to my cost to protect my cost.
Filled gap & turned higher
Broke out today
I only posted weekly for this one.
Stock Market Charts
Both Markets are breaking out Nasdaq has some resistance above but the $SPX has none
Stocks Set Up For Tomorrow:
Im buying on open W/ stop 147.50
I will wait for it to break over 65.70 to buy, if it does & fails to stay above 65.70 at close I will sell into close per my rules
Requests From Friends & Followers:
daily & weekly
Todays orders & current holdings:
The Game Plan:
Buy $GS on the open w/ hard stop under 147.50
Buy $WY on the open W/ hard stop under 30
Buy $LYB on a break over 65.70 then place hard stop at 59.95
Sell 1/2 my $QCOR & move the hard stop to 37.70 to protect price
Its one thing to lose a profit BUT NEVER LET A PROFIT TURN INTO A LOSS!!
In tomorrow’s post I will touch on the different approaches for moving stops & taking gains.
Please DO NOT follow these trades blindly this is my game plan & I know my risks. Do your own Due Diligence! Trading involves many risks. I post this for myself to get better & to learn from when I am wrong. I believe that mistakes are only made by not following your written trade plan. If you don’t have a written plan then every trade you make is a mistake IMHO. Losses are part of the game & a loss isn’t a mistake if you followed your plan. Please see my Legal Disclaimer http://yobronomics.com/disclaimer/
Contact me if you have any questions.
I hope you enjoyed!
Michael J Zoitas
AKA YO BRO
Follow me for real-time entry & exits with screen shots of charts, orders, & holdings at:
Plan your trades & trade your plan! Failure to plan is planning to fail!
All charts are provided by http://www.marketsmith.com