Portfolio Update

Well the Christmas Holiday has come and gone. Only one more short week to go until all the stock traders are working at high gear. Unfortunately, I didn't have the time this weekend to post as I thought I might, so this is the first post since last Thursday. This is how my portfolio fared.

CPLP had a bullish day on better than average volume that totally engulfed the bear move of last Thursday. Unfortunately, it didn't take out the high of last Thursday. This creates an uncertainty with the candlestick reading. With the Stochastic and MACD indicators pointing down and a downward trending resistance line just pennies above, there is a solid likelihood that CPLP will continue to retreat. If I were swing trading this stock, I don't think I would be trying to get in it at this time.

EVEP had a bullish day on below average volume that officially broke above the high of two weeks ago. The Stochastic indicator continues to travel sideways in the overbought range and the MACD indicator is still retreating but looks to be attempting to turn up. If this move is anything like early September of this year, then I am suspecting a climb up to $33 at least. The current bid and ask is set for either direction at this point. A move in either direction could occur.

SLV had a bullish move on below average volume that ended bearish for the day. It opened and closed above the close of the last trading day, but closed less than the opening of the current day. The Stochastic and MACD indicators are pointing up and the Stochastic is pushing it's way out of the oversold range. All it needs to do now is break through and stay above the $17.43 resistance price point.

As far as paper trades in the options market is concerned, JADE and SPIL both put in shooting star candlestick patterns on lower than average volume. The Stochastic and MACD indicators both suggest that the next trend should be bullish, but because the candlestick pattern is bearish, I need a bullish move tomorrow to get me into them. OPWV was unchanged on lower than average volume in comparison to the last trading day, so I am still waiting for a bullish move to get me in. JPM had a bearish day on lower than average volume, but the Stochastic and MACD indicators are both pointing up. I am just waiting on a solid bullish day to get me into an option position.

As far as additional stock positions, AEA broke down through the horizontal support line I had been tracking it with. The volume was less than average and the Stochastic and MACD indicators are pointing down in the oversold range. This suggests that there will be some additional downward movement before there is a reversal. So I will be waiting for that signal. That is my opinion, you can take it or leave it.

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