Portfolio Update

Another mediocre market day. I got stopped out on one, and rejected on another, but for okay results. The rest is a mixture of ups and downs.

CVX went down today on higher than average volume, but the trading resulted in a Doji candlestick. Doji candle sticks suggest indecision in the market, and are often followed by a change in direction. The candle stick was also put in above the revised trend line that I posted about. For this reason, I am leaving my suffering option in place, for yet another day.

FPL is the one that had the rejected order. The order was to set a stop-loss on the Call Option in the event that the stock had a bid less than yesterday's low. It apparently did, but the stop-loss on the option was apparently out of sink with the options bid and ask prices. I did, log in to see that this had happened and manually set the stop-loss. It is currently still open as FPL went up today on light volume and average price movement. The low of the day was slightly higher than the previous day's. And the candlestick pattern of the past two days are almost a Bullish Pregnant Harami. This kind of candle stick suggests the possibility of a reversal, but because the volume was lower than average, it is hard to get excited about it. The stop-loss will remain in place.

WFC fell today and as a result my stop-loss order was executed.

MU went up today but started off lower than yesterday's close and the volume was less than average. The candlestick pattern of the past two days is almost a Bullish Engulfing, but because the volume was so low, I am not going to get excited about it. The lousy Call Option I sold against it will expire worthless and free the stock for another option sail. I will report when I decide which one to sell.

SLV had a bullish day after a lower opening, but still closed below the high of the previous day. The price movement today was done on lower than average volume so there is not excitement from me.

Of the stocks I am watching, PCS is looking promising. Today, it went up on greater than average volume and is at a resistance trend line. The Stochastic and MACD indicators are both pointing upward after being oversold for a long period of time. However, because it is not a dividend paying stock, I am just going to paper trade it for a Call Option, contingent that it goes above the resistance trend line that it is currently at.

Everything else is suggesting that there will be further declines for a little while longer. For that reason, I am just going to wait until next week. That is my opinion, you can take it or leave it.

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