News / Uncategorized
[Platinum Watchlist] (7.6.23) 2 stocks
[Platinum Watchlist] (7.6.23) 2 stocks
August 22, 2023
Good morning.
The indicators provided some sell alerts yesterday. These moves can be reviewed in the above posts.
The futures are down this morning after the Fed released the latest FOMC meeting minutes yesterday.
Price action in CHTR hit a sell limit order for 1/2 of the position at the upper Bollinger Band for a 2.88% gain before closing back at 367.65. There is a slight rollover of the Stochastic and it is best to not be greedy and take a gain when you can. There was a wick down to the cost basis which is a level of support. The last three days we are seeing a sideways trading pattern. The portfolio maintains a $4.73 / share gain on the remaining 50 shares. Sell limits should be set above cost basis to protect the remaining gains.
CDW: In yesterday’s morning commentary it was suggested ” A trader may be able to get a better cost basis with a buy limit set closer to the support level to catch a price action gap down or just pass on this one.” Price action did wick down to the support level triggering a buy order before returning back up to around the upper Bollinger Band. All the oscillators are in the green, however we are seeing some weakness in the Stochastic. Support is at the 50 with resistance at 189.36.
Today the focus will be on the remaining positions in the paper trade portfolio.
Remember, as a swing trader, you don’t need to be in the market every day. It’s important to follow your trading plan. Your trading plan should include a risk management strategy. This strategy should tell you how much risk you are willing to take and when you should sit out. Don’t feel like you have to trade every day. There will be times when the market is not conducive to trading. If you are feeling stressed or overwhelmed, take a break from trading. Come back to the market when you are feeling calm and focused.
Have a great day! This information is for educational purposes and not a recommendation to buy or sell a stock.
Share this article:
More in Uncategorized:
Hedge funds and banks typically use multiple time frames for intraday trading
Hedge funds and banks typically use multiple time frames for intraday trading, as this allows them to gain a comprehensive...
![Trent Grinkmeyer in front of stock market with bull background](https://bestofusinvestors.com/uploads/2023/06/trent-e1687263019450-300x300.webp)
Trent Grinkmeyer
August 30, 2024
Nvidia Earnings Call: A Record Quarter with a Twist
Nvidia’s Q2 earnings call was a mixed bag, with the company reporting a record quarter but also revealing a drop...
![Kerry Grinkmeyer in a suit standing in front of a stock chart with a bull on it](https://bestofusinvestors.com/uploads/2023/07/kerry-300x300.webp)
Kerry Grinkmeyer
August 29, 2024
Nvidia Earnings: A Critical Moment for Big Tech
As we approach Nvidia’s earnings report, the tech world holds its breath. This isn’t just about one company’s performance; it’s...
![Trent Grinkmeyer in front of stock market with bull background](https://bestofusinvestors.com/uploads/2023/06/trent-e1687263019450-300x300.webp)
Trent Grinkmeyer
August 28, 2024
The Sleeping Giant: Why Intel is an Undervalued Stock
As the world’s largest semiconductor company, Intel (INTC) has long been a household name in the tech industry. However, despite...
![Kerry Grinkmeyer in a suit standing in front of a stock chart with a bull on it](https://bestofusinvestors.com/uploads/2023/07/kerry-300x300.webp)
Kerry Grinkmeyer
August 23, 2024
The Trillion Dollar Addiction...
The Trillion Dollar Addiction That Amazon, Google, Meta and Microsoft Will Be Selling Next Year As I discussed in my...
![Kerry Grinkmeyer in a suit standing in front of a stock chart with a bull on it](https://bestofusinvestors.com/uploads/2023/07/kerry-300x300.webp)
Kerry Grinkmeyer
August 19, 2024
What is an AI Agent? What Can It Do For You? Where Can You Get One?
As I discussed with my tribe during our recent stock talk, I’m excited to share with you the concept of...
[Platinum Watchlist] (7.6.23) 2 stocks
August 18, 2024