Portfolio Update

The market moved lower today just about everywhere. This is how my portfolio fared.

CPLP had a bearish day on greater than average volume. The price movement created a candlestick that is known as a spinning top. This indicates indecision in the market. But considering that the Stochastic indicator is in the overbought range and both the Stochastic and MACD indicators are now touching their signal lines, it would be wise for a swing trader to set a stop on this stock. Also this brings me out of danger of being called on my sold Covered Call at the $10 strike price.

EVEP had a very bearish day on greater than average volume. The price movement also finally directly reflects the movement of the Stochastic and MACD indicators. The stock took a hard hit as it dropped just over 5% on this trading day. If one is not holding onto this stock for the dividend payout, it would be wise to set a stop, because it is very likely that there will be another down day in the future like late October of 2009. However, I would watch out for a re-entry signal at about $27.50.

SLV also had bearish day on greater than average volume. The Stochastic indicator is still pointing up and has reached into the over bought range just a little bit, But the MACD indicator is pulling back towards the signal line though not quite there. The price movement suggests that there may be continued pulling back, but I am thinking that there is also a high likelihood of a bounce at about $17.50.

My paper trades didn't fare all that well either. JADE dropped hard after opening much higher earlier in the day. The close, however, resulted in a penny loss to yesterday. Since the Stochastic and MACD indicators are both still pointing up I will let it ride. OPWV, however, dived today. This wasn't unexpected if you read my post from yesterday. As a result of the dive I am out and the close of $2.34. This adds a lose of $5 to my score card. That is my opinion, you can take it or leave it.

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