There were a number of setups that triggered today and the Pelican Room was on fire. I ended up taking profits throughout the day, selling 1/2 my position in $OPEN, $SVVC, and took $AZPN off flat. I was tempted to take profits in $GLUU, but will give it another day.
Even though a few names look extended here, there are still a bunch of names that are ripe for the picking. My watchlist continues to grow, and I’m seeing more and more favorable setups out there. That said, I still don’t trust this market and still want to be very selective and quick with my trades.
Going forward, it’s still all about the NASDAQ, with tech names continuing to lead the charge. The /NQ was strong all day, opening right at resistance, but able to trade & close above it, a bullish sign.
I will be back tonight with some trade ideas heading into tomorrow’s trade. For now, check out today’s hybrid movers, click here for charts. Let me know if you see anything you like.