After 9 up days for the Nasdaq, it is time for the market to rest and some correction. 9 up days in a row is very rare and my stats say there should be a 2 to 3% pullback. I sold DXO, URZ, EMC and ADRE. The solar companies held up really well today, so I am holding my position in ESLR with a tight stop.

My plan for the rest of the month is to look for better setups. If the market is sloppy for another day or two I might be tempted to try a short position here. The 9 day rally has changed the market mood back to speculation so unless some really bad economic news comes out this week, I think we will head higher after the market digests the huge gains of last week.

Weeks like the last one are very frustrating to people who have an opinion about the market and ignore what the market is doing. That is why having a game plan and being able to admit that you are wrong are skills you need to make money in the market. I completely missed the boat with AMZN this week because I had an opinion and did not follow my rules.

I had a good week. But it could have been a great week if I had choosen to go fully invested. I am still very defensive here and 75% in cash. The market is very overbought here. I am looking to buy the pullback over the next week or two.

DXO had a great week. I am still long and keeping a tight stop on the trade so I don’t give back the profit.

I sold AHD on Friday. With the strength in oil, it should be flying. It did not, so I took the small profit and will wait for more clues.

URZ had a great week. I think it will consolidate here for a few days and then give a clue about the direction of the next move. I am keeping a tight stop loss on this trade.

One of my favorite chart patterns is to buy the first pullback from a new intermediate term high. I bought MDRX for this reason and it bounced perfectly. Unfortunately, it gapped lower on Friday and spent the rest of the day recovering. I think they are reporting earnings on Monday. So, this was the reason for me to take a small profit and to see what happens. Sometimes gap downs are just the marketmakers playing games to wash people out of their positions. Other times it means someone knows something and they want out of the stock bad. That’s why I got out. It is not worth the risk. Best case here for MDRX is that the earnings report is a non-event and the stock consolidates here for a few days. If it can do that, I will consider getting back in.

ESLR has turned out to be a dog. I am down about 5% in it. The chart pattern could go either way here so I am probably going to take the loss on Monday and wait for the solar group to give me more clues.

This week was tough. The market was under pressure. I am still very defensive here and 75% in cash.



Crude Oil had solid selling all week. I think it can bounce here for a few days so I bought DXO. I am giving it the 3 day rule. If the trade isn’t profitable within 3 days. It’s gone.



Pure speculation here. When AHD moves, it flys. It has pulled back to support so let’s see if it will take off again.

Back in URZ too. Uranium related stocks really move. URZ pulled back to support so I’m giving it a shot here. I am starting to track a few other uranium stocks now.