General Market Outlook
Nothing has changed since Tuesday, short-term trend is still pointing up and primary breadth looks close to overbought. If you're watching for individual breakouts on a pullback, you probably are not seeing to many worth buying. I am playing it safe for now.
It's great to look at stocks returning 100% in 7 months but we need to look at the losers from time to time to figure out what went wrong. I was in PWER until the 15th when it sliced through it's 50 day ma on huge volume. With an EPS Change of 313% last qtr and sales change of a 135% the stock had a lot of promise.
Damage was minimized due to the stops I had in place, but this is an example of what happens when momentum leaves a stock. Looking at the chart, the only thing I would of done differently is not added to the position on the 8th. The stock reversed by the end of the day which was a sign of weakness. The first two positions purchased were one for my trading account and another for my Roth.