Waiting Here. Looking for Clues

Last week was frustrating. AKNS finally broke out and made a nice run but pulled back a lot on Friday so I took the profit. It needs some time to rest this week and then we’ll see if the new trend will continue.

AMZN did a fakeout this week. It traded very choppy all week. The outside price bar on Wednesday was a clue something wasn’t right. So I set my stop very tight and got stopped out. The lesson here is the majority of stocks are dependent on the direction of the whole market. When the overall market gets sloppy, most chart patterns will follow the market. AMZN needs to correct this week.

DXO had a good week. I was in and am now sitting on the sidelines. No opinion here on oil.