FWLT - Foster Wheeler - Cup & Handle; LVS - Las Vegas Sands - Cup & Handle; V - Visa - Cup & Handle
Had 2 bad trades in FWLT & LVS. They were solid setups, and the stocks were acting fairly orderly, yet I didn't give them time to work and bailed on the trades instead of moving my stops up.
Here's LVS. Keep an eye on it, if it can pull back here it could form an inverted H&S to setup a base for its next leg higher.
Finally, here's Visa, which was my best managed trade of the day.
Today was a lot like Wednesday (and the opposite of yesterday), in that all the momentum stocks did well, while the stock market averages didn't really move a whole lot.
Another thing I noticed early in the day, was that a lot of the momentum stocks gapped up and few provided any decent opportunity for an entry. In particular I hated how ENER had a monstrous jump over its recent bullish flag. I didn't have a stop order ready at the open and missed any semblance of a low risk entry.
Enjoy the weekend.
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