Tesla Inc got slammed yesterday on Thursday's earnings call. Down 5% right in to support, the horizontal green line. Please note how price traded exactly to support and bounced during yesterdays (Thursday) session. Tesla Inc (TSLA) daily If support holds over the next one or two trading days I will add to my position and send out a trade alert. My line in the sand is the green line. If this support zone fails it would signal a good time to exit the trade and limit losses. My r … [Read more...]
Market Update and Recent Trade Commentary
The S&P500 Index ETF (SPY) weekly chart shows a continuation of the bull market from early 2009. There is no reason price can't go higher from here. S&P500 Index ETF (SPY) weekly Nasdaq has made new highs from the previous highs in 2000, international stock indexes are on the move higher and volatility remains low. We are on board as we have been getting long internationally from January. See Trade Alert page on web site for more details. Certainly, there is always a … [Read more...]
Get Rid of Losers Early
After gains of 22%, 15%, 2% and 14% on our last four closed trades, we finally have to cut losses on one. Quick reminder: small losses are actually a good thing. No one is right 100% of the time. But if our losses are small, and our gains are larger, then we're happy and very profitable. So... time to cut losses at 6% on PSA. Public Storage (PSA) daily Sell it and take the 6% loss. Price has broken support. Hold all other open positions... which are all profitable as of right … [Read more...]
The Art of Selling [trade alert]
I have been a student of trading/investing for over 30 years. One of the most important lessons I have learned over the years is that the ability to sell effectively is the cornerstone of success. Effective selling limits losses and can maximize gains. The only other alternative is to never sell which will expose one to catastrophic losses and just leave you with "hope" that things will turn out well. "Hope" is not a strategy. Don't get me wrong. Effective selling isn't easy. One never … [Read more...]
Post Holdings News
I don't often do a mid week update unless something is worth sharing. Good news, bad news...there is nothing going on in stock market land considering there is a lot of worldwide saber rattling. Continue to hold all open positions. We are in Encinitas (North County San Diego) this week hanging out at the beach. If you like fried chicken and are in San Diego you must go to The Crack Shack in Little Italy. The best fried chicken I have ever had. They just opened a second location in … [Read more...]
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