Changing the stop losses was a nice thought but the opening gap lower defeated our plan.
It was not a fun morning and we took some losses but I am guessing nearly everyone long the market took losses today if they had stops. This market is becoming increasingly tougher to trade but I do expect a trend to develop soon. The current dip should probably be bought on Monday. Today's decline was accentuated by option expiration and we could see some more volatility on Friday. Look for new plays in the weekend newsletter.
BYD was stopped at $1.55 for a 50-cent loss
SWI was stopped at $6.50 for a 1.30 loss
BRCM was stopped at $.70 for a 50-cent gain
No new plays tonight.
NO OPEN PLAYS