So that did not work out well. TECL, the leveraged tech ETF would have done a bit better if Google had not released disappointing earnings (accidentally during yesterday's trading day) and then continued its downward slide today. The position hit its stop at $53.47 and then continued to trade lower, ending the day at its lowest price, $50.50.
Paul Tudor Jones (PTJ) probably put it best: "At the end of the day, the most important thing is how good you are at risk control." Cut the losers, let the winners run. This was a loser, it was cut and we move on.
Here are your closing numbers.
|
| 13,343.51
| -205.43
| (-1.52%) |
The indices are breaking down, trading at or below significant moving averages and making lower highs and lower lows. CMG, GOOG, AAPL, INTC, MCD, and myriad other stocks are getting beat down. Great short opportunities abound for over-priced shares priced to perfection that are either missing on earnings, revenue or guidance.
Labels: charts, commentary, djia, earnings, ETF, funds, motivation, nasdaq, short ideas, technical analysis