Portfolio Update

The market was depressing today in general. Only a select set of equities had any gains. Strangely enough, I was in a few of those select set. Here is how it affected my portfolio.

CPLP was up a little over 50 cents on volume that was greater than average and a little over that of yesterday, a strong 6.33% move. It had more but pulled back late in the day. There is a conflict in the Stochastic indicator as it is pulled back while in the overbought range, but the MACD indicator is still pointing up sharply, so the stochastic pull back may only be related to the late day pull back of the stock. It does still look strong for $10 in the near term. Since I am in it for the long term dividend payout, I will not be setting a stop on it. There is probably too little time to sell a Call Option against it but I will try if the occasion presents itself before expiration this weekend.

EVEP was up on fractionally stronger than average volume. The Stochastic indicator has made its way into the overbought range, and the MACD is relatively high. It is likely that it will start to pull back soon. This is also a dividend paying stock but I don't have enough shares to sell a Call Option against my position, so I will continue to just watch it.

MU had a bear of a day as it makes it's first pull back from the $9 range. Both the MACD and Stochastic indicators are overbought and starting to turn down. The move down was only 18 cents. but there are still three days left until option expiration. There is a fair chance that it could drop below $8 before then.

SLV had a mini bull day. It originally opened lower, but later as the day progressed, regained it's value plus a penny. As was postulated, it is drifting sideways for now.

My current paper trade are opposite each other. PCS made gains on a strong break on better than average gains and the Call Option I am paper trading made me profits as it should under those conditions. Since I also have some profits and the Stochastic and MACD indicators are in the overbought range, it is time to set a stop to lock in profits. As the bid is 2.35, I will say 2.30 is my stop.

S, on the other hand, pulled back all the way to the upward trending support line I am gauging it's trend with. There is also a downward trending resistance line of the previous pull back intersecting at about the same price. These intersections are decision makers usually. If it breaks and stays below the downward trending line, it will usually continue down for at least a few days. If it closes above the line, it will usually start to trend sideways to slightly downwards along the line for a little while as the Stochastic and MACD reset. I'd rather not speculate an opinion on it. But if the price of the option drops to 60 cents, I want out. I am calling my stop on it at 60 cents. That is much later than I should have set it. It results in a 37% loss.

In other news, JPM and PDLI both pulled away from the trend lines I was using as my break out points to get into them as paper trades. That being the case, I have nothing to say about them. That is my opinion, you can take it or leave it.

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