New Buy:(GFA), Sell Stop:(RINO)

The current market continues to be very difficult to navigate, for me at least. There are opportunities, but a trader has to be quick, decisive, and CORRECT to profit. More experience would certainly pay off here.

Thursday my buy stop order for (GFA) triggered at $35.28. It's possible I interpreted this chart wrong and got in early, IBD had an article on the stock and called it a cup shaped base with a $37.72 buy point (if the stock does not form a handle). If (GFA) clears that point in high volume I'll add to my position.

Then there's (RINO). This stock had qualified as an eight week hold based on it's tremendous performance, then last week the company announced a secondary offering. Friday morning I stopped out at breakeven - had been up as much as 25% in this position.

I believe this was the third or fourth time I've had a high performing stock announce a secondary offering and fall apart. I've never had one succeed after announcing they would issue shares. Based on this I believe I will add this event to my sell rules - but I'll wait a couple of weeks first to make sure it's not a knee-jerk reaction.

My record is now:

1 - 2 - 6

Profitable since August.