As I scan through stocks with strong buy volume & strong sell volume I noticed that many stocks had huge sell volume today. Its overwhelming. When reviewing the volume on the stocks I am short in comparison to stocks like $MCD, $VZ, $KO & many more. I feel as if I might be in the wrong shorts! I also believe that when I find such big sell volume in so many big names across the board that the markets will have a tough time holding on to higher levels. Don’t try to catch a failing knife. Better to focus on the strong ones. I will go over my current holdings, requested stocks & what my game plan is for tomorrow.
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My Current Holdings:
I bought as it broke the 24 pivot. Was strong on a weak day. I have my hard stop in at 22.15
Im short at 874.13 w/ hard stop at 894. I might move stop down a point or 2.
Volume was light on the sell side today. I would have like more sell volume. Im short at 266.59 w/ hard stop at 272.22.
Stock had volume today & barely closed green. It rejected higher levels. I should thank Reed Hastings for going on CNBC & pumping the stock because I got a great fill. Im short at 217.12 w/ hard stop at 236.30
Stock broke below 165 pivot before finding buyers. Volume was lighter than average but still good. im short at 168.24 W/ hard stop at 179.15. I am considering to move stop down 1 point.
The stock is on the hard to borrow list so I bought puts instead of shorting it. I own the 100 strike for next month. My entire cost is my risk.
Stocks I will take action on:
I didn’t buy intra day because of market action & volatility in this stock. I waited to see the close & volume. It broke out of cup & handle pattern on huge volume. I will buy on open W/ hard stop at 57.55.
Requested stocks from friends & followers:
filled gap today holding so far
failed a break out over 24.40 but holding at the highs needs to close over that failed break out.
broke out again today on big volume
Stock I am watching for a break out so I can take action:
Pressing its break out pivot of 23 did great this past week with big buy volume in a choppy 5 days of trading. over 23 triggers a buy.
The game plan:
I might tighten the stops on $LNKD & $GOOG buy a point or two.
Buying $KORS on open with stop at 57.50
Buying $CHK on a break out over 23.
Please DO NOT follow these trades blindly this is my game plan & I know my risks. This is not investment advice or trading advice. This is for educational purposes. 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.
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!
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