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Trading Journal - June
- Thread starter Seanote
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Today: Expect a midday rally to resistance. Quarter-ending window dressing is coming to a close, so the ability of the major averages to close above Monday's highs will be particularly significant.
AMGN - Buy
Reasoning: coming from the depths of oversold conditions, the biotechs are ready to bounce from current levels, expect a retrace back to support
Stop: $38.75
Target: $44.50.
* Wait for a pull back after todays $1 move to the upside
AMGN - Buy
Reasoning: coming from the depths of oversold conditions, the biotechs are ready to bounce from current levels, expect a retrace back to support
Stop: $38.75
Target: $44.50.
* Wait for a pull back after todays $1 move to the upside
Originally posted by flea
You did well to hold the QLGC short. The early strength off the open must have been a little disconcerting.
I still feel the market will drop at some point today. It's hard to figure out if mutual funds will be window-dressing or not after the tumultuous week we've already had.
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