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[Platinum Watchlist] (2.28.23) $2,100 Gains in February / 2 Stocks on the watchlist!

[Platinum Watchlist] (2.28.23) $2,100 Gains in February / 2 Stocks on the watchlist!
August 21, 2023

Welcome to the last trading day in February.  

This month has not been kind to the bulls as the Dow is down 3.5% for the month, while the S&P 500 and Nasdaq have lost 2.3% and 1%. With a down trending market, it provides a higher degree of difficulty for the probability of completing successful swing trades.   

With that said, we were still able to find some quality set-ups and end this month with paper trading gains as seen on the spreadsheet. 

As of this morning we are up about $2100.00 in paper trade gains with only 10 positions

Of those 10 positions, we currently have just one position still open which is CPB.   

My hope is that this channel is providing you with the tools you need via the guidelines, watchlist, commentary and videos to utilize a trading plan within your own risk tolerance that provides you with an increased level of trading success. 

Now, we can’t win them all, but with patience and discipline we can increase our chances of success against the machine called Wall Street.  

We still maintain an open paper trading position in CPB as it closed down yesterday by .02% just below the cost basis of 53.23. Even with the current market volatility, price action has maintained sideways movement for the past 5 trading days. We continue to see the 50-day SMA as resistance with the converging 9 and 20 day moving averages acting as support. All the oscillators are positive minus a small rollover in the SS.  

We are still watching ALGT and it closed up 0.21% yesterday but price action failed to give us a positive cross of the MACD, indicating that a paper trade position should not be initiated at this time. We will need to trust the guidelines and be patient with this one.  

Once again, thanks for being member of the Platinum Channel where we focus on finding profitable trades and wealth preservation!  Have a great day.  This information is provided for educational purposes only and is not a recommendation to buy or sell a security. 

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