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Technical Analysis with chessNwine

chessNwine
Full-time stock trader. Follow me here and on 12631
Joined Apr 1, 2010
8,861 Blog Posts

Ready to Take Some Lumps, if Need Be

chessNwine Thu Oct 23, 2014 10:02am EST 6 Comments

With my two short bets under pressure this morning, in the small caps and semiconductors, I am prepared to cut them for about 3-4% losses this morning if there is no downside reversal into the opening gap higher, in the next thirty minutes or so.

Given the back-and-forth in the market the past few weeks, I am inclined to move back to cash and wait things out for better spots to get involved.

What are you trading this morning?

 

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6 comments

  1. chessNwine
    chessNwine
    October 23, 2014 at 10:26 am

    Stopped out.

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  2. traderconfessions
    traderconfessions
    October 23, 2014 at 10:27 am

    Nothing. Was positioned for shorts. Stopped out with a little profit. Figure tomorrow will be down day to punish those who jump in here.

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  3. thomasjefferson
    thomasjefferson
    October 23, 2014 at 10:39 am

    Added a 1/3 piece to my long term CPL position this morning at $14.20.

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  4. Montrose
    Montrose
    October 23, 2014 at 10:50 am

    Royals and Giants baseball cards.

    Probably buy some DIA puts if the index backs off.

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  5. The Next New Cat Thing
    The Next New Cat Thing
    October 23, 2014 at 11:58 am

    Lotta chop out there. I got shaken out of winners like SMCI, only to see them rocket post earnings.
    I am left with two solid long term plays ICLR and LCI which is up $5 today.

    I am waiting for a good earnings report

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