Trades update

Trading Account: Sold LF, Bought INCY
401k: Bought V in a.m.

In my trading account, I dumped LF this morning due to bad behavior, before it faked yet another move up. Hate that stock. I replaced it with INCY mid day and luckily INCY ran into the close. My AAPL, MGAM, and NTSP trades all look good right now but that can change quickly so looking to take at least partial profits if we see much more strength. All stops have been moved up to entry points.

I bought V as it was breaking toward new highs this morningIn my 401k, it looks good right now but follow through is always a question. Also in my 401k I still hold 20% of my original position in AAPL that I bought at $395 in December. I may add to that position in the morning with a target at the old highs. My 401k also holds TNA on the Friday signal.

The one I am miffed at is EBAY, which is also in my 401k. The stock looked great on its breakout and then fell back hard and didn't recover very much. I may need to let that one go and put that capital into something that is working, or I can see what it does going into earnings. If I find a good candidate to buy in the morning I will look to replace EBAY.

Overall not a bad day today. The market did not offer much in the way of follow through but some stocks that broke out Friday followed through on their breakouts. We'll see if this lasts days or weeks. At some point we need some follow through on the 600+ breadth day we had last Friday. With a holiday in the middle of the week this week, volume is sure to be low and markets could be a bit choppy or volatile. This may be an ideal spot for a pullback or drift sideways on low volume. With the 5-day ratio on MM above 2 and the 10-day ratio approaching the same, I have to be long and fully invested, especially coming out of a correction.

I'll be monitoring things closely tomorrow possibly to replace EBAY. I will also be looking to take some partial profits on anything showing unusual strength. 

Cheers and Happy Birthday USA!!!