In two parts, here is my analysis of the leading indices and sectors of the market at the end of this week.
As always, if the videos below are too small to view here on iBC, then you can double-click the screens and watch them on YouTube.
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[youtube:http://www.youtube.com/watch?v=-tiTmrN7r54 450 300]r_____________
[youtube:http://www.youtube.com/watch?v=w_rzUIP4Pts 450 300]r
Love these weekly wrap ups, Chess. Thanks!
Thanks for stopping by, Jay.
Nice summary. Thanks as always.
Cheers, Yogi. Enjoy the weekend with Boo Boo.
I’d like to understand the CTSH trade. The winners are easy to see in hindsight but the losers are not so obvious. Are there any clues that you saw?
keoki,
CTSH was a 3% loser on a 3/4 position for me, so it came nowhere closing to stopping me out. What happened was that I was basically even on the trade going into Friday, where it had a bad day. Now, the chart did weaken today as the uptick in selling volume pushed the stock below the rising 20 day moving average (it has been a solid setup as it was gliding above the 20 day previously with a strong volume pattern). The main thing is that earnings are on Monday, and I simply was willing to take the 3% loss rather than gamble on an earnings report for a chart that had just taken a turn for the worse.
Very interesting stuff as always. Thanks a lot!
No problem, sir.
Thanks for the clarification. I set my stops at 8% if there is no obvious support otherwise I’ll use breaking a support as a stop.