TUE 2/10: NVT – SELLING (ALL) P/L: -$569.65 -2.8%

3:29 PM – After failing to close back above its 10 DMA yesterday, shares are now breaking more decisively below that key level today on above-average volume, exhibiting clear bearish technical action. After sweating through the recent earnings sell-off, I’m selling the entire position and reallocating capital for stronger technical setups, such as SNN (see here).

MY BUYS:
1/22 (1/3) @ $112.15

MY SELLS:
2/10 (ALL) -$569.65 -2.8%

James’ Trader’s Tip: Respect Failed Reclaims of the 10 DMA

• A failed attempt to reclaim the 10 DMA often signals continued weakness.

• Increased volume on the downside confirms institutional selling pressure.

• Freeing capital from underperformers allows redeployment into stronger setups.

• Discipline protects the account — hope does not.

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Chart services courtesy of stockcharts.com. Annotations by James Taulman.