Three new stocks were added to the watchlist today.
Overall there were no new trades today, but GSIG, SYNA, and TNP are all at or gave a second entry point today. We've highlighted them several times over the past couple of days. If you haven't taken any of these trades tomorrow could offer good entries.
Two stocks are near there trailing stops SCAI and LXFT. Since we try and use closing prices when triggering sales, both stocks have survived. LXFT actually closed up on the day after gaping down to start the down due to earnings.
As you can see from the above SCAI chart, a few days ago it fell to our stop but didn't close below. It's currently within 1 dollar from hitting our trailing stop. Look for the chart to regain structure in the next week or so. If it doesn't materialize, then the position will be removed.
Today, LXFT reported earnings which caused the stock to gap down on the open. For the majority of the day it repaired the loss and actually closed higher on the day. This one is a great example of using closing values to determine your exit. Because it didn't close below our trailing stop (the blue line), we didn't execute the sell. One other factor in allowing us to stay with this trade is the fact that our cost basis is near 40.50 -- giving us enough cushion to withstand the initial move down.