Big Bounce Sets Us Up For Quick Trade
Warren Bevan | Aug 13, 2015 02:59AM ET
“The good life is a process, not a state of being. It is a direction, not a destination.” Carl Rogers
A very weak gap down to start the day once again but then we saw a massive move offthe lows and 200 day moving average which was a great entry point for a trade in SPY.
I looked around hard this afternoon for some bounce plays but I didn’t find as many as I’d expected, but I am back in Apple Inc (NASDAQ:AAPL) from 114 now and I’d like to hold it for the long-term, if it allows me.
I also bought some Advaxis Inc (NASDAQ:ADXS) at 16 and I’ll use tight stops.
SPDR S&P 500 (ARCA:SPY) bounced well so I bought 10% in at 206 and I’d like to sell at 211 at weeks end.
The summer continues to be mostly chop with the odd easy trading opportunity that comes along like SPY today.
I am not looking to hold it past the end of the week and the way things have been going it could very well gap lower to open tomorrow and have me stopped out.
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