Weaving Another Basket

Monday morning I opened up a basket trade of stocks on the long side. As I mentioned this morning, the intent of these trades is generally two to five days. Breakouts can often run for several days on end, but since most of these buys are right after the first day of a breakout, I'm not looking to hold them very long. Often a breakout will stall or consolidate by the third or fourth day. Of course, some just seem to continue endlessly, but when you using a basket of 10 or 15 stocks, chances are higher most will stall or reverse, hence the tight management.

Monday Basket View Chart » View in New Window »

I've sold the first basket in whole today although one stock did hit the 10% upside trigger for a partial sale early Tuesday. Beyond that, no other stock triggered a sale on the upside or downside alone. Overall, the group is up around 3% since Monday aided a bit by the strong day yesterday....326 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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