Mike
12-20-2015, 04:05 PM
IBD placed the market back to Uptrend Under Pressure. There were no surprises here; as distribution early after a follow-through day often leads to a rally failure. In a study performed by IBD, a distribution day within the first two days after a follow-through day leads to a 95% rally failure rate. I have noticed that there is a greater success rate in recent times but, still not good.
Since I invoked a "take no losses" rule, I have trimmed down to holding GOOGL long and CPHD short. I am unsure I want to keep the short position while on travel, so I may cut it at the open. If the market opens ugly, I probably will sell the GOOGL position just to maintain sanity while away. I don't always do this, but the market is in turmoil, a sign of a possible market top.
I will be taking next week off to visit family in Northern California. I will be returning late next Sunday; I won't have a chance to update watch lists until Monday the 28th. I updated the Watchlists in the High Growth Stock area.
Since I invoked a "take no losses" rule, I have trimmed down to holding GOOGL long and CPHD short. I am unsure I want to keep the short position while on travel, so I may cut it at the open. If the market opens ugly, I probably will sell the GOOGL position just to maintain sanity while away. I don't always do this, but the market is in turmoil, a sign of a possible market top.
I will be taking next week off to visit family in Northern California. I will be returning late next Sunday; I won't have a chance to update watch lists until Monday the 28th. I updated the Watchlists in the High Growth Stock area.