6/9 – 3:00 p.m. New York time
MSFT’s price declined suddenly on news reports of a possible lawsuit. Although it expires a week from today, I intend to hold the position in anticipaton of a rebound on Monday that would, best case, return the position to profitability or, less bad case, mitigate the loss.
6/9 – 12:45 p.m. New York time
I have decided to delay an exit of THO until next week. Elliott wave analysis suggests that the trend is down, toward profitability.
6/9 – 10:45 a.m. New York time
I have exited PAY for a profit and shall update the analysis shortly with results.
6/8 – 9:40 p.m. New York time
I have no earnings plays as prospects for entry on Friday. I’ll scratch around and see if I can find something without an earnings announcement to trade.
As the week draws to a close five losing positions are candidates for clean up: GLNG , FL and AMBA with losses large enough to be beyond the reach of recovery, and PAY and THO, which are close to becoming winning trades. As always, in deciding when to exit losing positions, I shall use Elliott wave analysis to try to understand the directional bias.
By Tim Bovee, Portland, Oregon, June 8-9, 2017