[Platinum Watchlist] (7.6.23) 2 stocks

Good morning. 

The indicators provided some sell alerts yesterday. These moves can be reviewed in the above posts. 

The futures are down this morning after the Fed released the latest FOMC meeting minutes yesterday.  

Price action in CHTR hit a sell limit order for 1/2 of the position at the upper Bollinger Band for a 2.88% gain before closing back at 367.65. There is a slight rollover of the Stochastic and it is best to not be greedy and take a gain when you can. There was a wick down to the cost basis which is a level of support. The last three days we are seeing a sideways trading pattern. The portfolio maintains a $4.73 / share gain on the remaining 50 shares. Sell limits should be set above cost basis to protect the remaining gains. 

CDW: In yesterday’s morning commentary it was suggested ” A trader may be able to get a better cost basis with a buy limit set closer to the support level to catch a price action gap down or just pass on this one.” Price action did wick down to the support level triggering a buy order before returning back up to around the upper Bollinger Band. All the oscillators are in the green, however we are seeing some weakness in the Stochastic. Support is at the 50 with resistance at 189.36. 

Today the focus will be on the remaining positions in the paper trade portfolio.  

Remember, as a swing trader, you don’t need to be in the market every day. It’s important to follow your trading plan. Your trading plan should include a risk management strategy. This strategy should tell you how much risk you are willing to take and when you should sit out. Don’t feel like you have to trade every day. There will be times when the market is not conducive to trading.  If you are feeling stressed or overwhelmed, take a break from trading. Come back to the market when you are feeling calm and focused. 

Have a great day! This information is for educational purposes and not a recommendation to buy or sell a stock.