Rough day for the bulls (understatement) and so far it has managed to bounce off of those early morning lows and forming sort of a cup and handle pattern on the 5min SPX chart.
So, let’s tally it up for me on the day: I was knocked out of Agrium (AGU) at $93.7 for a 4.5% gain, sold Netflix (NFLX) at $79.45 for a -4% loss, sold Priceline (PCLN) at $659 for a 2.2% gain.
I’m still hanging in there with MDT and Facebook (FB) is showing marginal losses on the day.
As for TD Ameritrade (AMTD) – it is bouncing nicely off of major support levels, and with what appears to be, most of the day’s risk behind us, this could provide a solid risk/reward opportunity. Anything into the $16’s and I’ll sell it before day’s end (thought that would take a pretty significant rally), I plan to hold this stock overnight though.
Here’s the AMTD chart.
