Monday Recap

Today was a very slow day with a very tight trading range. Very boring to sit through, but truly the type of days we need for charts to begin to set up for a leg higher. Like I mentioned on Friday, alternative energy stocks were ripping all day. I was watching a few solars but most of them gapped open and never offered a good entry point. APWR was a bit slow to the party but eventually joined in. I was a bit disappointed at the lack of volume and pretty weak close, though I was happy to see it held the $6 level. I am up over 20% so if volume doesn't pick up I'm going to go ahead and lock in these gains early in the trading day tomorrow. I am feeling a sell the news reaction in these stocks anyway, but we will see if we get some volume to support the price action tomorrow.

It is hard to take when you see DRYS act that way off of earnings but I think it was only prudent to lock in the gains. I ended up holding EXM through just in case this happened and picked up an extra 12% there. I am down to just a starter position now in EXM after locking in a 40% gain since our buy last week. I think the shippers are overdue for a pullback but there are still some earnings reports that will influence their trade over the next few days. I will be stalking them should they set up again. I think we are due for another boring day tomorrow ahead of the election but I will hit the charts tonight and try to get a post out before the open tomorrow.

JAX