Portfolio Update

Yet another shallow day in the market, but this time with a lot more closes in the green. This is how my portfolio fared.

CPLP had a bullish day on better than average volume. Yet it did not close above the high of two days ago. The price movement did reinforce the momentum of the Stochastic and MACD indicators. It may have a little higher to go before officially pulling back. It would be wise for swing traders to set stops.

EVEP had a bullish day on less than average volume. It also did not close above the high of two days ago. The price movement wasn't enough to significantly alter the Stochastic and MACD indicators but there was a slight convergence of the indicators with their signal lines. I think it may go sideways more than down.

SLV had a really bullish day today on slightly greater than average volume, but the amount is still on a declining trend. Because of the type of price movement today, the Stochastic and MACD indicators are still pointing up strongly. The kind of price movement was almost a hangman candlestick but at the same time almost looks like a dragonfly doji. Both of which suggest potential reversals. I foresee two outcomes. Either it is an official reversal, or it is just going to pull back some. Possibly to the $17.50 price range.

As for my paper trades, this is how they fared. JADE and OPWV both had bullish days, but JADE only recovered a small portion of it's losses from yesterday. OPWV, however, broke and closed above the most recent highs. JADE now has a shallower downward trending resistance line to break above. If it closes lower on the next trading day I will bow out.

S and my JPM Call both had bearish days. As a result of what I said yesterday, I am taking my profit on my $43Mar10 position for the JPM Call and keeping the majority of my principal for my position on S. That is my opinion, you can take it or leave it.

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