Choppy Market

This market can be very frustrating due to the choppiness.  The frustration can throw you off your game plan.  That's what happened to me today as I stopped out of NEM at $45.20.  That was planned....but, I also decided to sell my DNKN position at about $32 and lock in the $2 profit.  My plan with DNKN was to stop out at the 50 dma, which it didn't quite reach, or achieve a $35 target.  The stock turned around today and closed relatively strong, nearly $1 above my sell point. It looks like the good setup for continuation is in play. 

Maybe I made a good move, and maybe I gave up some greater profits.  That's how it goes sometimes.  Sometimes you need to block out all the noise and stick with your plan.  

At least you won't go broke taking profits.

~JP

Position Updates HPQ NEM DNKN

Here's a quick update on a couple positions.

I took a position in HPQ at $25.16 only to get stopped out at the low of the day ($24.88) a few moments later.  I kept a tight stop due to market weakness. I initially was kicking myself for the tight stop, but it turns out that may have been a good short term decision.  We'll see how it plays out, but I'm out of this position for now.

I moved my stop on NEM down to the recent lows at $45.22 primarily because I have a smaller position and I wanted to give it a bit more room to work.  We'll see if the low holds.  If not, I will sell.

DNKN - will stop out at the 50 dma.

It should be an interesting week. Protect your capital

~JP