“The greatest dreams are always unrealistic.” Will Smith
This market stinks.
We’re seeing nothing but chop so I sold some losers today but I’m holding my winners so far but who knows how long they will continue to be winners.
I’ve got stops in place and I really don’t plan on doing much at all until we breakout one way or another.
There just hasn’t been much acting great since late 2014.
Buying breakouts hasn’t worked much while buying dips has, but those trades have to be done pretty quickly unfortunately.
There is nothing like a nicely trending market that you can buy and just watch with minimal maintenance but we’ve not got that.
SPDR S&P 500 (ARCA:SPY) is holding the uptrend line which is great and I may look to get long on a move back above 206.60 and then 207.25
So many biotech stocks were hit and the charts just need some more time again although some are holding well for now.
Gilead Sciences Inc (NASDAQ:GILD) was one of the best bases I’ve seen lately and that chart is busted for now.
I bought some Advaxis Inc (NASDAQ:ADXS) as it’s moving out of a decent cup and handle but the way things have gone, chances are it will fall back and fail and I’ll be out of it.
Not much I can do but try, but it hasn’t worked a lot lately.