although i just returned last night from a breif overnight trip, with the market still not offering a very good R/R entry on either the long or short side right now, i decided to take the family on an impromptu mini-vacation to universal studios (about a 3 hour drive away). my wife just booked the trip so we’ll be leaving shortly and returning home friday evening. therefore, i won’t be making any new posts until the weekend unless anything significantly changes with the charts between now and then. i will also try to work on getting that e-mail notification system for new posts rolled out as soon as possible once i return as this will save time from having to refresh the site to check for new posts.
the near-term technical picture of the market remains unclear right now which increases the odds that the market will continue to chop around in a very sloppy and unpredictable way, not only making it a difficult market to trade for active traders but also increasing the likelihood that less active swing traders will be stopped out of positions as prices gyrate back and forth. at times like this, i usually place OCA (one-cancels-another) orders on my existing swing positions which allows me to walk away from the computer know that all of my positions will automatically be closed out if their profit targets are hit or stopped out if prices exceed their stop-loss levels.
as far as the trades that exceeded the suggested stops this week, those were primary the coal stock long trades (ACI, PCX, KOL), all of which have bounced back above those objective stops levels today so i will leave those on for the time being, for those that might have given them a little more room or anyone looking for a new long-side entry, as those charts still look like they might be in the early stages of a bottoming process. i will take some time over the weekend to revisit those stocks as well as the other active trades and share my thoughts on them, possibly via a video overview.