MOJO Swing Trades - 11/4 - Evening Update

Published: Mon, 11/04/13

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Monday November 4, 2013

Hi MOJO Swing Trader,

The market is showing resilience and is kind of scary right now. Very close to an all time high and a possible panic squeeze and dump back with the market. Could be quite volatile, that is why I am surprised VXX has not soared over the past three trading sessions. Starting to get position heavy with too many stocks to follow and looking over the holdings I decided not to be a landlord this month and collect rent with the covered calls on VXX & VRNG. I am closing both the stock position and the covered calls on both. Will be getting into more of cash position this week. Will give DRWI another day or two to work, if not will be selling it.

ADAT = taking profit on last 5,000 shares can always buy them back higher or lower. Would like too see volume plays before getting back in. Will be patient and watch it.

DAIO =  taking profit on last 1,000 shares can always buy them back higher or lower. Would like too see volume plays before getting back in. Will be patient and watch it.

VRNG = getting out - it's just a dog with fleas still. Cash better used on sidelines waiting for a great opportunity with BIG VOLUME & MOJO.

VXX = getting out - it's just a dog with fleas still. Cash better used on sidelines waiting for a great opportunity  with BIG VOLUME & MOJO.

How about that Watch List today - plan worked out well taking just a few picks and playing some watch lists. 

IRIX & LIOX = Were played and did well as well as the other (4) are all higher - YGE, MSO, VTG, DRAD

Now the EPAX did go from from $4.05 to $4.20+ and if you took a profit - good job because MOJO missed it. Eyeing like a hawk as the next run up if the stock does not hold above $4.15 - will sell. If breaks $4.00 let's move cash to better situation. Stay quick & nimble, especially in this environment.

IG = scaled into 10,000 shares as planned - now the ship is sailed see which direction she wants to go. North to the profit zone would be very nice. Avg $2.34 - Last Price $2.34 Even 0%

RAD =  we have a winner here - possible merger :) Avg $5.28 - Last Price $5.37 Up 1.7% - Raise stop above original buy price - cannot lose!

CNDO = end day new pick - high of day $1.86 . Avg $1.81 

ABCD, HUSA, HILL, HTM = ALL EARNINGS NEXT WEEK - NEXT FEW DAYS IMPORTANT FOR ALL OF THESE. WOULD LIKE NOTHING BETTER THAN TO SELL INTO A EARNINGS RALLY.

Thanks for reading, and profitable trading!

ProTrader Mike
email: info@mojodaytrading.com
website: http://www.mojodaytrading.com

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