TTP Wednesday Wrap Up: $IWM $BZQ

The major indices lost more ground today as the S&P 500 and Russell 2000 chalked up another distribution day, we are still waiting on final volume figures from the Nasdaq. For the Russell 2000, this is now the sixth distribution day for the index in the last 16 sessions. The Russell did bounce off its morning lows but the recovery faded at the close and it finished beneath its 50 day EMA for the second straight session. As for our positions, BZQ finished slightly lower after opening up in the green. CAI took a hit and now sits just a dollar above our stop. PSX finished slightly lower as well and will pay out its dividend tomorrow. We don’t trade for dividends, but if there paying it out we will take it. We were close to firing off a short or two over the last two days but have restrained so far. Lets see what tomorrow brings. Your open portfolio link is below. Have a great evening!

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 )

Connecting to %s