Sticking To The Script

Into the close of last week, charts were setting up everywhere.  Before I knew it my portfolio was inhabited my monkeys, hard set on escaping the barrel they resided in.  Want to see the setup?  It was everywhere last week and in some cases paid handsomely.  EBAY took on the characteristics today, and I bought.  Behold:

What I especially like about this setup is the interplay between the two CCIs.  I keep a long CCI to give my eye a picture of where the intermediate term trend is and the short one to detect pullbacks in said intermediate trend.  You could do the same with the momentum indicator of your choice.  Simple Right?  Remember, no two trades are ever the same and the key is always risk management.

Back to my current situation, a barrel of degenerate positions like ATML, ADTN, FB, and TSLA, I want rid myself of these names.  Names traders are playing hot potato with ahead of the market’s cliff reaction.  They’ve been trading up so I’ll keep playing along, taking scales at logical targets (places where people clearly draw lines like old swing highs and such) knowing I will dump them all on weakness.  I want higher cash levels and, should it end the week STRONG, more shares of your favorite Senator’s investment house, Goldman Sachs (GS).  Current cash level is 22%.