TTP Tuesday Wrap Up: $BZQ $SEDG

We initiated a new long trade today which is actually a short play on the Brazil market via the ETF BZQ. As for the general markets here, the S&P 500, despite being down only a sliver, did chalk up a distribution day today. The Russell 2000 had a poor showing today trading down over 1% and chalked up its fifth distribution day in the last 20 sessions. The October 20th day will however come off the count after Thursdays close. We are waiting on final volume figures from Nasdaq, but it appears it may escape a distribution day today. We are being slightly cautious here with the market extended and some distribution days starting to mount. Many stocks that were on our watch list for shorts have triggered over the last several session. Additionally, many stocks have taken a beating recently after failing to impress with earnings. Speaking of which, we have SEDG reporting after the close tomorrow. I would be prepared for anything including a possible post market trade tomorrow evening or pre market trade Thursday morning. Hopefully earnings will be solid and the market will remain tame enough for us to continue in normal trend following mode, but best to be prepared and ready to be flexible. The TTP spidy sense is tingling just a bit today. Here is the link to our open trades. Have a great night!

2017 Open Trades

CJ

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

w

Connecting to %s