A rather quiet day in the stock market turned chaotic after Carl Icahn started talking in apocalyptic terms during an interview on TV. While I wouldn't be surprised by this market if we popped back up tomorrow and recovered Monday's losses, I nonetheless had to take notice of the market action at hand.
Also the fact that we are trading outside the upper Bollinger Band on the weekly chart makes me a bit uneasy since historically that has lead to near-term sell-offs. As a result, I curbed some of our long exposure by getting out of PAY at $24.69 for 5.2% in gains or $1,030, plus I closed out MOS at 48.59 for a 1.72% gain and $344. Finally I cut my losses in IR at 67.59 for a -0.5% loss or -$106. The total combined winnings on the day was a solid $1,268 in gains.
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And with that, here are tonight's swing-trading setups for tomorrow: