LFC took a big hit as its predecessor was found with accounting irregularities. It dropped $2.13 or 7.4%. Other China stocks was also impacted. Increased my LFC position. Also bought CHN. Looking for opp. to buy HNP again.
SUNW went down to 5.12. It needs to stay above 5 level to keep previous uptrend. Otherwise, we shall see it back to 4-4.5 level.
I hit my head when missing the spike 1131 to 1136! It happened seconds after closing a long position. After lunch, a short worked ok although the target was set at 1135 missing half of the plunge. Oh well, I was not watching the market anyway.
Increaded LFC position. It’s moving down lately. Likely it may find support at 25, its IPO price.
Closed SUNW position. I may reopn it when it breaks out or continues building base around 5.5 level.
Open a long position in LFC at 30.67. This is for long term. My stop will be at 25.
Open a long position in LFC at 30.67. This is for long term. My stop will be at 25.
The blue candle showed on Friday when the job market report didn’t make the grade. The sell-off occured in the first a few minutes and last hour. Before the last hour plunge, it actually recovered most of the loss.
The volume (judging from SPY chart) was more than 50% higher than average.
It was rumored that a big firm sold a lots of puts to their customers and had to sell ES to hedge their position, thus the big plunge in the last hour.
Since the uptrend line is still intact, Monday’s open shall give us some indication of where the market will go. Currently, it’s pretty extended. It would make sense if it goes sideway for a few days or a week to ease up the over bought condition. I would not be a buyer at this time. I will look for weakness to short it.