Trader MD: 7/22 - QQQQ: Trendline break; 7/23 - COST - Coscto - Cup & Handle, AGU - Symmetrical Triangle Breakdown, POT

Here's QQQQ from yesterday.

Costco from today. As Jamie pointed out, this could also be a 3 point pivot base & break.

I entered in on some puts when AGU broke down here @ the time of this screen shot.

The same goes with here and POT, yet I quickly realized they had earnings before the market open tomorrow and my goal was to manage the position since I was already in it and close it out by the end of the day, which is basically what I did (closed just before the end of the day).

As far as my GLD trade, I've been going back and analyzing it. It's been my only losing trade over the last 2 weeks. It's definitely good to have a bad trade every now (keeps you humble, disciplined) and then and heck maybe I've had a pretty lucky streak considering I'm basically away from the trading desk from 11 AM EST to 3 PM EST aside from a couple glances at the market / chance for a quick entry or quick exit every now and then (in between patients!).

Back to GLD. The one thing I failed to recognize on the GLD trade was that I didn't put in ample analysis in analzying the $USD which it basically trades off of. Even by looking at the euro (for example the FXE ETF), I would have seen the FXE was right up at resistance and my entry point on GLD was a poor choice. In addition my strong suit isn't pullback entries. They are usually a bit harder for me as stops aren't as clear cut and break outs/breaks down are just more of a clear defined area/number in which you can enter on.

As of now I'm nearly flat for swing trades, aside from the AGU (doesn't report earnings till august and will participate in any downside due to earnings reports from other Ag related names) puts I entered today. The Ag names still are looking techincally too strong (in compared to the other momentum names of late like coal, steel, energy stocks, etc). They look to be setting up for at least a flush out if not a retest of the 200 day MA.

Going with the theme of the Ag sector, here's another chart to keep an eye on. They report earnings July 29th, BMO.