Monday, July 18, 2011

Lots of blood, but support holding (for now)

Indices went lower once more, but they all held their next support area. So some positive signs for the bulls here, although bears are still the big winners of course. We gave back about half the gains of the latest rally.
Meanwhile gold and silver keep rallying while financials keep bleeding.

I've bought 3 stocks today. TZOO and JVA went higher on big volume and CHKP was an earnings play.

The trades:
JVA long 21,44
TZOO long 80.90, took of 1/4 at 1R
CHKP long 58.70, took of 1/4 at 1R and 1/4 more at 2R

TZOO: earnings on Thursday, so I will be selling (most of) it tomorrow or the day after.

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