All swing trades exited for wins Many of you are
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All swing trades exited for wins
Many of you are familiar with my work on penny stocks such as TECO. Although pennies can give you substantial returns they are illiquid and as we all know prone to manipulation by 3rd rate bucket shop traders and their idiotic basher henchmen.
Going into this month I was very focused on making SLV my swingtrade short but was unable to get a picture perfect pattern. Nonetheless, it dropped and could have some more downside in it. In the mean time however, I picked up $CAT, $AKS, and $SBUX for short positions all with fantastic gains.
Many stocks are now down and trading into major support levels such as the 50 day moving average. Although there could be a bit more downside my preference is to lock in a gain and move on to the next trade setup.
I actually hope these stocks could get a nice bounce in the next few days and weeks ahead to setup for the next leg down. This is the best way to play these trades. Don't try to go for the whole enchilada, just find the high percentage technical setups, place the trade with a stop in mind, then start harvesting profits once you hit your target areas and repeat.
I will be on watch for good technical setups for more swing trades and will give them out as I get them. I would give out day trades as well but it's almost impossible to do that since I usually hold the trade for only a few minutes and by the time I type it out and post it to the board the entry or exit has already passed.
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