Losing trades are the worst. Today’s market wide selloff was brutal with all major averages falling over 1%. Shortly after the open I dumped JWN at 42.15 for a loss. Thought the signals from 2/26/17 were indicating a reversal but I was wrong. Moving on.
I’ve been holding MYGN since 2/15/17 at 17.21 and today took partial profits at 19.04. Slightly deviating from my original plan of selling around 20, but I’ve decided to sell some shares at this level because the stock went up to 19.90 earlier this week (Monday 3/13 and Tuesday 3/14). During this time I had my limit sell order in for 19.95 and was so bummed to come within a nickel two times. Since then, it’s pulled back to the low 19’s and I the reason I took some profits today is because I believe MYGN will find some resistance around the 20 area, which it casually approached this week, but not quite. Maybe I should have set my limit for 19.85. From here, looking to close out the position on a pop towards 20 and using the area around 18.50 as my limit to the downside.
- 3/24/17 update – Sold half of remaining MYGN at 19.35
- 3/27/17 update – Closed out MYGN at 19.50 for 11.3% gain overall
I’ve been watching NUS since March 1 when it transacted an unusually large number of shares. Since then, it’s been clinging to the 51 area without breaking thru having made it within .25 of 51 five times since 2/24/17. Today was the first day it was able to break above 51 and a couple hours into the trading session my stop of 51.10 was hit and my order was filled at that amount. From here, looking to start taking profits around 55 and using February’s low of 47.10 as my stop.
CEF caught my eye this evening after trading higher today by 3.28% and forming a bullish kicker candlesick signal. After Tuesday’s trading session CEF was entering the oversold stochastic territory. Today’s volume is well above average trading 3.4MM shares versus a 10 day average of 821k. Given the oversold condition and rallying very nicely today with bullish action on higher than normal volume, this could indicate higher prices to come. I am in interested buyer of CEF tomorrow if it continues through today’s high of 12.68. I’d be looking to open the position in the range of 12.72-12.75 and target around 13.50 to take profits while using Tuesday’s low of 12.20 as a stop.
- 3/9/17 update- CEF is a no play. Traded lower today and failed to continue bullish action
Had my eye on CROX today and bought shares at 7.01 as it broke above yesterday’s high of 6.94. From here, targeting above 8 to take profits and will consider adding more if it pulls back into the 6.50’s. Using yesterday’s low of 6.26 as my stop area.
- 3/9/17 update- bought more CROX at 6.57. Average price is now 6.68
- 3/24/17 Update – Holding Full Size Position in CROX
Today’s volume in NUS is certainly something to take note of. The stock traded 9.4M shares versus a 10 day average of 1.4M. Volume escalated in mid February with the major gap down selloff and since then has stabilized a bit, still on high volume, and for the past 4 days has started to look bullish as it’s closing back up around the 8EMA. Potentially could use this weeks high of 51 as an area to go long. If NUS can hold above that I think it should be able to get back to 55 quickly, while using the low of 47.10 from 2/23/17 as a stop.
Today’s action in CROX reminds me a lot of RLGY in November when it bottomed. Earnings gap down and immediate reversal to close near highs, and on much higher than average volume. Going to follow CROX closely and interested in opening a long position on 3/2/17 if it continues through Wednesday’s high of 6.94. If this is the case, it could make its way back up to 8 or even 9 in the near future.
Closed out PX today at 120.00 from entry in November 2016 and, considering this a mismanaged trade, I am very happy to make it out with a profit. Bought back in November with an average price of 116.35 and had several opportunities to close it out as it approached 125, but seemed to get caught up in the news that the Linde merger was going to drive this to the moon. Sure enough, when the merger was announced on 12/20/16 the stock tanked. Failed to stick to my original plan and definitely should have taken at least partial profits above 124.
Stock has shown some strength in the past couple weeks and I’m happy to exit for a profit as well as capturing the .75 dividend in December. Looking to put these funds to better use by sticking to the game plan on the next trade.
RXN has been hitting resistance many times at it approaches 23 many times over the past year (circled in blue). Furthermore, if you zoom out at the chart it also had resistance at the same level back in 2012. RXN has been bouncing around for a year between 15 and 23, and keeps fighting its way back towards 23. Bottom line is that 23 is a significant level for RXN, and looking at today’s volume and bullish action I think it may be providing a clue that the stock is ready to break through the 23 level soon. Today the stock traded 5.5 million shares versus a 10 day average of 724k. This was primarily driven by what looks to be a single order filled at 3:54pm for better than 3.2 million shares. The daily volume today represents the highest volume in the past year as seen above.
As for a trade plan, probably going to sit on the sidelines for this one to observe and gain some insights for use in the future.