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:

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

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):

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.

Possible trade set-ups

Some Triangles, and some bull flags. My goal this week is to make one disciplined, well thought out trade.

These are some prospects:

FLAGS:

"Usually forms after a rapid and fairly extensive advance which produces a nearly verticle, or at least quite steep price track on the charts. On such moves, volume normally shows a progressive increase until it reaches a high rate. Eventually profit-taking halts the markup. Then follows a series of minor fluctuations, sloping down somewhat, with volume shrinking markedly. and constantly as the pattern develops. The pattern might go on for five days, or three weeks. The explosion in price then practically duplicates the original price movement of the "mast" formation."

Wait until the example is clear - a nearly vertical, almost unbelievable rise, followed by several days of congestion with practically no volume.

Triangles: