Wyckoff SMI Pro Trader Trade Update
By Todd Butterfield
General Electric continues to selloff in dramatic fashion.  We want to now lower our buy stop on short position to $18.88.  We have stayed short from $28.91 while this blue chip has fallen apart.
Wingstop has also taken off to the upside as expected currently trading $39.86.   We are long from $32.77, and want to raise the sell stop to $36.00
Lumber Liquidators has fallen off sharply since we liquidated our long position @ $38.71.  We are going to reenter a long position here at the market, current price $28.86.  On this position we will use an initial sell stop at $24.34.
We are still short the TLT at current prices of $125.08, and would like to add to this short in the near future.
We had mentioned buying Overstock (OSTK) a few weeks ago, and it has quickly run to the upside.  We are still thinking this is a good long term holding that we will try and get an entry on.
Good Trading,
Todd Butterfield

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