Today's Trades: URRE, NCTY, FSLR

As I said I would in last night's trading video, I exited half my FSLR postion (125 shares) at $247.20 (entry at $223.30) for a $2987 gain (+10.7%). My current position is 125 shares and my stop is at the original entry price.

I bought 500 shares of URRE at $12.21. This stock made my watchlist via a long time reader's suggestion. We have been working on a trading setup over the past month, and this is my first attempt at trading it.

I went short 400 shares of NCTY at $25.78. This is a classic breakout-pullback setup from the short side.

Trade updates: QID, STLD, GS, VLO, EWZ

Man, I'm kicking myself for getting rid of QID yesterday! Stupid, stupid, stupid! I hate myself right now. I should have let the trade play out until it hit my target or stop. Micro-managing at its worst.

I'm holding on to most of my positions right now, and actually made a few buys. I bought 50 more GS at $208.16 and 300 STLD at $37.55. I also bought 300 shares of VLO at $58.04 and 200 shares of EWZ at $46.55. For now I am holding on to RL.

Note that I am using smaller position sizes. The prudent move right now is to wait this thing out, so if you're going to buy, be very careful. I'm not giving myself much rope on these trades and will clear out my positions if they fall much further.

It will take some time to see whether this is just a hiccup or a new trend. If we get a weak bounce or more weakness in the coming days, it will be a sign to get ready to short.