Portfolio Update

The market made a large move today after several days of shallow movement. Unfortunately for bullish investors it was bearish move. This is how my portfolio fared.

CPLP had a bearish day on less than average volume. The Stochastic and MACD indicators are also pointing down and are under their signal lines. Considering the time that the Stochastic has been in the overbought range, I am suspecting that it's value will continue to drop to about $9. Also, being option expiration, I am not going to be called on my covered call option. That is one premium for me.

EVEP had a bearish day on less than average volume. The Stochastic and MACD indicators are pointing down, but are starting to level off because the price movement of the day was very shallow. In fact, the low of the day is actually higher than the lows of the past two, and even three, days. I am suspecting that the stock is beginning to set a base like it did back in late October. That is my opinion, you can take it or leave it.

SLV had a bearish day on less than average volume. As a reaction to that the Stochastic and MACD indicators intersected their signal lines. Also the price movement was an obvious move away from the downward trending resistance line I am tracking against it. I suspect that it will be moving between this resistance line and the support level of about $17.50 for about a week or two. Then it should continue to go up.

My paper trade did not do well today at all. It dropped hard, wiping out the majority of the profit it made me, so I am claiming what is left, $5 at $2.74 a share. I really should move on the signals more. I will do that in the future. I still believe there is a bounce coming , but it seems to me that it will occur somewhere around $2.50 or as early as $2.60. That is my opinion, you can take it or leave it.

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