TRADE REVIEWS: LXK, APKT, BGP, PEIX, JCI / SPX IN 50/100-DAY MA RANGE

For some reason, yesterday was a good day to trade. What I mean is that doji days are particularly unattractive days for day trading. They are best suited for swing entries. Nonetheless, it was a good day to work on execution and patience, and it all paid off.

Most breakouts require your full attention. Setting alerts is not enough as it is 'too late' many times. Sometimes setting buy stops is not enough because 1) the stock can gap intraday, 2) you can get a bad fill. Some days you watch a movie and other days you stare at your monitors all day long. I can usually tell if it's going to be a good day in the first hour of the morning by looking at the 1-min intra-day price bars. If they don't touch each other, then don't touch it.

The SPX, as mentioned on my show, is being caught in between the 50-day MA and the 100-day MA, both very powerful moving averages main support and resistance levels. We should see an intersection of the 20-day MA with the 50-day MA in the coming days.



I traded 5 names today (all imminent breakout plays): LXK, APKT, BGP, PEIX, and JCI. Ignore the MA's on the 1-min/1-day charts below.