This last week was the first week of my 50 in 3 challenge where I am trying to make 50% on $1000 in 3 weeks. I made three trades and have unfortunately found myself down.

Here are the trades I made and the current results:

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Notes On The Week

• I shorted NIHD and APLN and am currently long on CPKI. 
• Both NIHD and APLN popped in a day and triggered a cover.
• The reason that both NIHD and APLN have losses over 5% is because I exit all positions that get triggered at the close to eliminate emotions and because its usually amateur investors that are shaping the market early while the professionals take control in the afternoon.
• Here are the charts I was looking at when I decided to make the trades that I have now closed out:

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As you probably noticed, I liked the bearish crossover, lots of red BOP, low RS and MS, and they were both right under the 50 EMA. Sadly, both popped above the 50 EMA and I got out to limit losses.

Right now, the market is hovering around a line of resistance and we are in a waiting game to find out if the market will roll over or push higher. Until we get some direction, it will be tough to investing in the right direction.