Thursday, April 28, 2011

Time for a break

The indices traded sideways most of the day, and then put in a small rally near the close. The Dow Jones is still outperforming/leading the other indices, albeit just sligthly. We are getting overbougth here and a pullback to the breakout area would be more than welcome and would probably give us good buying opportunities.

Silver reached new highs, but couldn't really keep them, unlike gold. Silver and oil both put in a doji on the chart, indicating a reversal might come. But nothing is for certain in this market!

I closed GLNG (+3.28%) and SNDK (-0.42%) and back to 100% cash. I'll wait for a pullback before entering new positions. Just being cautious, April wasn't really good to me, unlike March. And you know what they say about May... Not really a month with a good 'track record'.

One daytrade in FTNT, I hoped for bigger gains so I could swing it, but got stopped out, not willing to give back too much of my gains. In at 46.95 and out 47.62 and 47.43. I had 49 as a target, but 48.50 was the top.

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