I was very glad to see our current position not lose ground on Friday. That shows great relative strength.
EBIX closed flat for the day on Friday and the overall markets all headed lower. I was very pleased to see it did not give up any ground. Obviously if the markets continue lower this strength will not last forever.
I am raising the stop slightly to $64.50 on EBIX because the market maker is using a wide bid/ask spread on the options. That prevents me from being a little looser on the stop.
I am not planning on putting on any new positions this week unless the market breaks out on strong volume. I am still concerned that October is not done with us yet.
Futures are up slightly at midnight.