• axl

What started off as a day that could easily see 15-20 points of SPX upside quickly deteriorated once the equities market opened. 

By the end of the day as much upside had been given up as there was downside and the result was one gigantic doji to close the day out. 

With the minimal gains, the bulls remain in control of this market and with price action still hovering near the highs, I suspect there is a good chance we’ll break those all-time highs at some point this week. 

I closed two positions out today by cutting my position in FLS at $76.59 for a 1.4% loss, while booking gains in TRN of $3.1% at $57.90. 

The key in all of this is not to focus on the profit opportunities – but zeroing in on the risk aspect of every trade you take – especially in this kind of market where those who are profiting are those who keep risk tight and minimal. 

By doing so, the profits take care of themselves. 

So jump in with myself and Oscar in the SharePlanner Splash Zone and receive our swing-trades and day-trades in a real-time trading environment that provides our vibrant chat-room with text and email alerts. Subscribe to our Free 7-Day Trial by clicking here. 

Here’s tomorrow’s trade setups:

Long American Axle & Manufacturing (AXL)

axl

Long Approach Resources (AREX)

arex

Long Timken (TKR)

tkr

Short Principal Financial Group (PFG)

pfg

Short Peabody Energy (BTU)

btu-1

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