I have really been hesitant in adding any new positions today to the portfolio. Going short at this point seems like a chaser's mindset, and going long when the VIX is spiking and then consolidating at the highs, doesn't make much sense either.
So outside of getting stopped out of WYNN earlier, I have been sitting on the sidelines for most of today. That doesn't mean I won't ultimately get in, but on a stock like Aetna (shown below), I'm not going to go be aggressive with my entry. Instead, I would like to wait for a pullback to the $42 level first.
On another note, AAPL bouncing nicely off of the morning lows is a positive development for the market, but the market really hasn't responded in terms of price action.
Here's today's Lazy Trades Long & Short:
LONG: Aenta (AET)
SHORT: Thermo Fisher (TMO)
Ryan (@shareplanner) specializes in swing trading strategies and is the founder of SharePlanner which he created to help and teach others on how to trade stocks better using multiple approaches and time frames. Each day you can count on Ryan to provide his trading advice as well as transparency in every trade that he makes. Ryan Mallory resides in Central Florida with a wife of seven years as well as one lively son. More >>
Sign up and receive Ryan's stock picks, watch-lists and eBook