821x sell: LITE

If you followed the sell suggestion in my tweet on December 29th, you should be completely out of LITE now.  (BTW, because it’s more timely than a post, I’m planning to publish my sell suggestions solely on Twitter going forward, so be sure to follow me @marketchameleon.)

Although, the weekly chart still looks good, we trade using the daily time frame where the trade went against us.  The last thing we want to do is get stubborn and start rationalizing a reason to hold.  That said, you may want to keep an eye on it to see if it flashes a compelling 821x buy signal in the future.

daily candlestick chart of LITE
the big picture still looks good, but I don’t want to let a small paper cut turn into a gusher…

In the meantime, enjoy the festivities tonight and see you next year.  Happy New Year!


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