This market scares me, I know I should embrace the horror (no krull), but for me it is hard to hold anything for an extended period of time.
Today I took profits in both $WYNN & $SOHU. Both were short term holds, with quick returns. If you study the chart patterns, you will notice similar pattern I look for when making these quick trades. Big move on volume, wait for consolidation, then buy the next break.
I probably should have held onto both, technically, they did nothing wrong, but my psychology is better when I hit and run.
Option expiration is tomorrow, so I wouldn’t be surprised to see the bulls bring max pain to the shorts.
Here are some names I’m looking at to catch the next breakout: AMSC, ARCO, ATML, BIIB, JBLU, IAG, JVA, LNKD, MA, MTOR, OTEX, PNRA, SQM, TSCO, & WFC.