Trade Update: SDS and SKF

I have exited half my SPY and financial short positions (SDS and SKF). My stops have been moved to entry level.

APOL Exit

I exited the second half of my position in APOL today at the close. I still like the stock, but it is very overbought at the moment. I'll look to re-enter on a pullback.

Possible SKF entry

A little more bounce would provide a low risk entry in SKF, which gets you short financials:

Weekly Focus List and Free Trade Report

In today's Trade Report, I go over my plan for the week. One of the themes is the positive patterns developing in some commodity related sectors. Gold and Silver top the list. In the spirit of Thanksgiving, I am offering today's Report to all of my readers. http://docs.google.com/View?docid=d5z8q8w_4555wv7zfg

Support Becomes Resistance for SSO

Following the recent breakdown, old support has become resistance. This offers a low risk short entry near R levels.

Divergence in T2108

It's interesting that the T2108 is not at new lows while SSO and QLD have hit new lows. This tells us that there are more stocks above their 40 day moving averaged now, at new lows, than there were at the last higher low. This positive divergence leads me to believe we could get a good bounce off a big down day.

RIMM: Patiently Awaiting Entry

I like RIMM's recent price and volume action. However, it is in overbought territory, so I'll wait for a pullback. The pullback must continue to create a nice accumulation pattern. High volume on the pullback negates the setup.

Position Update

Position Update: SSO: Entries at $25.10 and $25.24. Stop at $21.90. Current price $24.63 (-2.1%) APOL: Entry at $67.50. Stop at $65.79. Partial profit at $71 (+5.1%). Current price $68.99 (+2.2%). AFAM: Entry at $45.10. Stop at $43.90. Partial profit at $48.10 (+6.6%). Current price $46.89 (+3.9%). FXI: Entry at $24.54. Stop at $22.45. Current price $24.28 (-1.1%) ALK:

Today’s Trades: APOL and AFAM

APOL and AFAM. Both have been on the focus list of the Trade Report since last week. I had buy stops in place near support and just exited half the positions. Stops have been moved up to entry level.

A Good Day and SSO Stop

Needless to say, today was a good day for me, as all four of my trades based on the "bottoming thesis" did quite well. I received a number of questions about my stop on SSO. I'll go into more detail tomorrow. I was stopped out of half my position, but re-entered after the previous low was recaptured. More details to come.