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Our general market indicators are overbought and looking like we are making a short term top here. I am selling IWM at the market ($222.40), and taking small loss. I am also entering a sell stop order on QLYS at $109.70 Good Until Cancelled. I will watch this one as if we can’t breakout here, I might just take small profit and look to buy back lower.
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QLYS – Buying at the market, current price $109.61. You can see that the OP has been making lower lows, while price holds higher. We also now have an oversold Technometer. Also looks like it could be completing a “Backup” to a the creek it jumped at $108
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We sold our YETI, MSFT, and SQ long positions.
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Let’s buy IWM at the market, current price $230.74. We have what could be a jump and a backup, and the Technometer is extreme oversold.
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Updated stops. Volatility is high so we want to tighten up stops. We still think stocks can work higher from here.
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I am going to buy Dupont (DD) at the market. Current Price $82.62. Using a current sell stop at $77.
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Current Positions with Updated Stop Levels
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Buying Square (SQ) at the market, current price $214.69
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Buying Microsoft (MSFT) at the market, current price $245.19
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Buy SI – Silvergate Capital
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Buying ATVI – Activision at the market. Current Price $92.95. I like the way the OP has been solidly down while price is holding and actually just did a “spring” and nice rally off of it, and now holding at higher levels while Nasdaq is getting clobbered
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