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Members Trade Alert: $TWTR

BotTrigger Trade Alert: $TWTR sold entire position @ $17.60 for a near break even gain of 1.85%. Twitter has been too muted for us to stick through it any longer. Once the technical picture proves itself we'll revisit this position. More importantly we're selling this one to free up some cash in the folio so that we can put that cash to work in higher probability setups that are better positioned to deliver alpha. For example, some that we're currently stalking for an entry on their next "relative pullback" are: $MKSI $FB $NVMI $SHW $ICHR to name a few. Also there is evidence to suggest that this June will kick off a short lived corrective period in the markets. The Market overall is still 100% a bull market but there are few concernable issues that suggest a pullback will kick off this month. So we're going to reduce some names starting with TWTR here. Also, with our AAPL trade up so far about +135% we may consider selling this if we get another jolt higher. Remember we only have 15% in max gains that we will yield out of our AAPL January 110/120 call spread. Now trading at $9.40 with a max of $10 in may make sense to fee up that cash sooner than later so we can use it in a new call spread on this next pullback. We believe AAPL is topping out. Separate post on AAPL and full market summary coming today.

Some of the greatest pearls shared by Jesse Livermore:

“Money is made by sitting, not trading.”

“The desire for constant action irrespective of underlying conditions is responsible for many losses in Wall Street even among the professionals, who feel that they must take home some money everyday, as though they were working for regular wages.”

“Buy right, sit tight.”

“Nobody can catch all the fluctuations.”

“There is a time for all things, but I didn’t know it. And that is precisely what beats so many men in Wall Street who are very far from being in the main sucker class. There is the plain fool, who does the wrong thing at all times everywhere, but there is the Wall Street fool, who thinks he must trade all the time. Not many can always have adequate reasons for buying and selling stocks daily – or sufficient knowledge to make his play an intelligent play.”

“It takes time to make money.”

“Don’t give me timing, give me time.”

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