You have a few minutes left to open up some shorts today. I’ll talk more about today’s rally later (simply put, semis spearheaded this rally), and I’ll start with the stocks to short first:
– Gold stocks: GG, EGO, NEM … all hovering near highs, but have a tough roof to break out here. Stocks rallying in US and Europe usually means gold will reverse. Use a “step-in” approach to accumulate your short position (ie, short on up days at 1/4 positions 4x). Damn, EGO is just so overpriced. Anyway.
– Stocks that did not breakout today that should have: SFLY, PCLN, AAPL …aim for 3% retrace then cover. NFLX also can be shorted tomorrow on a downgrade.
Stocks to get long (with stops set to today’s low):
LULU (low: 42.74)
ISRG (low: 324.92)
MELI (low: 58.49)
Okay, I’m buying into this priority-matrix method of doing things on the iPad, but whoever authored it totally copied my idea! So anyway, I think it’s time to reintroduce you all to Matrix-Trading. No, not Keanu Reeves slow motion dodging bullets kind of trading, but another intutive way to trade stocks using a simple matrix. To be continued… (because the market is about to close).
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I’m going for 60 points since the rest of my team is taking the Finals off. bastards.