Art Of Trading Service Performance For Week 16

LONG/SHRT	Symbol	Entry Price	Exit Price	% Profit/Loss	Holding Period
LONG	orex	8.5	8.65	1.76	swing trade
LONG	ntes	42.13	42.56	1.02	swing trade
lONG	snda	52	51	-1.92	day trade
lONG	fuqi	23.71	23.65	-0.25	swing trade
lONG	micc	73.8	73.12	-0.92	swing trade
short	pwrd	33.6	34.16	-1.67	day trade
LONG	china	2.86	2.86	0	day trade
LONG	pwrd	35.9	36.48	1.62	day trade
LONG	whr	55.9	56.3	0.72	day trade
LONG	stec	36.02	35	-2.83	day trade
short	cyou	37.15	35.72	3.85	swing trade
short	snda	48.35	48.75	-0.83	swing trade
LONG	vita	6.25	6.61	5.76	day trade

SPY: Black Candle Printed

CYOU Short Setup

Index Chart Analysis

Let's quickly go over the index charts and see where exactly we are in this choppy mess from hell we have been going thru all this week. I have been trying my best to keep trades at a minimum and cut losing trades asap or use tight stops. Thus far, the consolidation to resolve overbought is working out exactly how the bulls would want it. I am expecting a move to happen soon, i am giving the edge to the bulls here and think we "might" see a rally attempt soon. We shall see.....

attached are 30 and 60 minute charts of various indexes i track.

Protection Of Capital First, Making Money Second

That has been my motto as i learned this lesson the hard way. Making money is not nearly as enticing to me as getting my money back. When you have the discipline to cut the trades that FIGHT you early on, you will give yourself a much better shot at staying in the game and you will avoid the head games that come when you managing a trade that is not cooperating. I will always happily buy it back later, if it can prove to me that it will play ball with me. I try and not allow a stock to bully me around. Much better off to cut it loose early and step off until more "playbale" conditions come back.

QQQQ: Potential Topping Out Situation

Today's close and after carefully looking thru some index charts, i am starting to see the possibility of a topping out(short term at least) to this rally. A short term correction in terms of price and maybe time could be at hand here. See chart for more details. A more cautious approach with longs is a good idea here. And as a matter of fact, i welcome a nice deeper correction to help bring back some fear and reset many of these charts are too extended. Also, another warning sign for longs is the fact that i am not seeing too many decent long setups. Maybe MSFT and AMZN earnings did more damage to the action than we thought.....

again, i am not bearish here, i am just expecting price to retreat here to help alleviate some very overbot conditions.

see you guys tmrw!!

A Closer Look At The Indexes

The pullback thus far continues to look BULLISH in nature. In other words a pullback within an ongoing bullish trend.

Two Setups To Watch

Weakening Rally

That last push higher this morning looked very weak and even tho prices retested recent highs. The MACD and RSI did not confirm the move and now setting up negative divergences which means that we COULD see prices start to weaken here. Better to sit tight and see how low they want to take before buyers re-emerge again. I am not interested in shorting right here as the trend is too strong and will likely resume sooner rather than later.

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Art Of Trading Review

Stocks To Watch Next Week

Most of my scans are generating long looking setups or stocks in breakout mode.

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