Thursday, May 21, 2009

Market Outlook and Today's Action

Stopped out of SIGM today w/ a 3 percent trailing stop, and held onto OPXS for a little bit of a loss. The market went lower, and possibly broke down through its most recent up-trend. Once it breaks down through a key level at 885, we'll have confirmation of a better chance of a downturn:




SPY090521.png


SIGM stopped out, and then jumped back up. It's down 2.5% in after hours:




SIGM090521.png


OXPS is about to get killed. It has not confirmed itself as a good breakout. I'm up, and don't have much more tolerance for downside (especially in this market right now):


OXPS090521.png


In summary, the Market looks like its about to fall over. These stocks probably won't do well if that happens. I'm just holding one small, profitable position, and will probably be getting out of it soon. No need to trade until the market shows its true colors.


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