Tuesday, October 24, 2006

TRAD and WDC are out

My trading signals have told me to get out of TRAD and WDC. Of course I want to eliminate emotions from my trading so I closed out the positions. Damn, I wanted WDC to make a run for it, but I will have to wait for some time to get back in in the future. I can't let emotions ruin my trading. I don't feel as bad letting go of TRAD. It has been spinning its wheels here for the past few weeks. It looks as if it is trying to break out of a cup and handle, but the trading volume shows a lot of selling. Remember, don't let emotions ruin your trading. I think there is going to be another opportunity to get back into TRAD within the next two months.

I am sitting on ICE and not selling a covered call as of yet. It is slowly climbing and the amount of buying is over-riding the selling when you look back over the past few weeks.

OVTI looks as if it is going to use the 50 day moving average as support so I am holding onto this one.

DXPE is making a nice move as of this posting - up 3.47% today.

ENTG is floating back to a proper buy point. If I had more $$ I would buy in.

Eventhough WCC had a drop a few days ago, big money buyers bought many more shares. This gives me the sign that WCC has hit a bottom and is heading back up.

Remember, you can go to www.stockcharts.com and type in any of these symbols and look at the charts.

Good luck trading. JD

No comments: