iBankCoin
Joined Jan 27, 2008
7,405 Blog Posts

Afternoon Update

There’s not much going on today on my end. With the breakdown in the $SPX, I’m hesitant buying blood here, although there are a few names I’m interested starting positions in.

I’ve been sitting tight all day, which is not fun for me or for you, but I have no edge. Here’s an updated chart of the S&P 500:

My book is still mostly in cash with a side of TZA and LGF. LGF needs to bounce off this 11.80 level or I will be out, leaving me with just some TZA and cash.

Other names on my radar include: YELP, GOOG, GMXR, & VRML. It also worth noting that the breakdowns we were looking for in KORS and INVN happened, but found support, and now look like good longs on strength.

Here are today’s hybrid movers:

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16 comments

  1. Drewdog12380

    I like the hammer candle formed on on $ovti daily holding the 200 day ma. poss bullish reversal there. Also golden cross there too.

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  2. Drewdog12380

    Also like the round bottom formed on $THLD. Full stoch and MACD looks like their about to start crossing up too.

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  3. @crazyfasteddy

    how do you keep it together RC? $KORS broke support early on so I let it hit my stops.. didn’t want to see it fill the last earnings gap… but now seeing the hammer it’s printing, I’m having a hard time keeping my sanity.. not gonna chase with sell in may so close though..

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