Tuesday, April 20, 2010

No trading for me today!

I missed my planned entry in SLRC this morning on account of a huge gap up that it made at the open and it never really looked back from then. Since I am not going to chase and use a wider stop loss than I planned and therefore a wider profit target, I decided to pass on the trade.
There was nothing else on my focus list for the day. So I am just going to the sidelines until I get some really attractive set ups. I believe the Chinese stocks will set up some nice bear flags but they are too extended right now.

Here are the tickers for a few that you can add to you watch list for the coming weeks: CSIQ, CAGC, NEP, RINO, CRIC, ZSTN, CMFO, CTC.

APWR does have a tradeable pattern though. Here are the 15 min and daily charts of the set up:

Short entry will be triggered when ever the price breaches the slightly rising trendline. If I do take this trade I will use a tight stop ($0.50 - $0.75) and look for about $1.50 - $2.25 profit.

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