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26 Oct

Open Trade Updates For Wednesday October 26, 2011

by

Asia had a good session and Europe is up as of 7:00 a.m. EDT. Futures are rising ahead of the summit and it looks like we’ll hold support on the major indices if Europe can keep traders calm. If the news out of Europe today is good I expect we’ll breakout and GLUU and WAVX will start to become profitable for us. QPSA is obviously already a big win, just a matter of how greedy you are on this one, I’m going for more still. If Europe can’t hold it’s own today, then I’ll be looking to jump on short positions and start making some money by selling stock into the market.

Not much has changed from yesterday regarding my 3 open swing trades but I did scale back on 5,000 GLUU just to protect myself from Europe. For me, 10,000 shares of GLUU was a bit too much and I now feel better holding 5,000 with hopes of catching a runup prior to earnings. I’m basically even on GLUU right now with the two alerts I’ve sent.

Read yesterday’s update because all of the stock specific information on GLUU, QPSA and WAVX still applies. Be sure to watch the video on WAVX, it explains how I’m trading it and where I intend to buy more stock.

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