This market has accelerated to the downside as stocks continue their slide today. The market started to sell off individuals stocks which eventually pulled down the whole market. Finally the market is seeing a pull back to different levels after months of rallying up over 60% from the lows. We kept our eyes on several things today but the ones that really made us money were the stocks that were strong while the market was weak. AMZN, BCRX, FXP, and YRCW all were strong today as the market tanked, so in that weakness the traders all piled into the strength in those specific stocks.
We had an entry on AMZN this morning at $118.94 and we sold it to quickly as it went up 6 more dollars from the spot that we had entered. Also we made some money on BCRX and its associated strength on some good news about the FDA approving their swine flu drugs. YRCW caught our attention as it made new highs at 3.42 early on, and soared to $4 dollars, we missed that trade, but heard that alot of traders piled in and the shorts got squeezed so the stock moved up. http://stocktwits.com/streams/all This is a great website for seeing what some of the most active traders are doing in the markets for the day. YRCW rallied on good news talking about improved liquidity in their credit lines.
All in all we have seen the market sell off alot of these individual stocks down to levels that are close or on the bottom bollinger band, which is usually a place to start watching for swing-trade buys. If the 5 day moving averages start to turn upwards then consider entering any stock that meets that criteria that is on our watchlist which is posted on the forum. We hope that you are having profitable trades and if you are losing then consider our course which will walk you through how to have the best execution for your trades!
Until next time;
HAPPY TRADING!
the C² Trading Team
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