In order to update the Long Trade Ideas category, the following trades have been removed:
- P (Pandora Media): Moved up to the first resistance level (R1) following the wedge breakout then made a large, earnings induced gap down below both the entry price as well as any reasonable stop (none suggested). click here to view the live, annotated chart of P
- NOV (National Oilwell Varco Inc): Exceeded the suggested stop of a 3:1 R/R to any of the price targets. NOV still looks to be pounding out a likely bottom so for those that gave the position a little room, consider a stop below 51.50 or higher at this point.
note: GLD (gold etf) & $GOLD (spot gold) are shown under the Active Long Trades category only because a couple of the posts related to the most recent GDX & DUST Long Trades also include charts & commentary on gold. As such, those posts were tagged with the symbols for gold for archiving & reference purposes. GLD & $GOLD are not official trade ideas but because those posts share the symbol tags, GLD & $GOLD will appear along with GDX & NUGT under the Active Trades category until those trades are completed.
The Short Trade Ideas category will also be updated soon under a separate post with new trade ideas expected to be added to both categories (long & short) this week.