So, I am currently doing my research for this upcoming week and low and behold, I feel like I should give myself a pat on the back! I just noticed that Daytradingradio.com's GTO has put NCS on his watchlist for this upcoming week!!! That was my pick from last week and I am already in this position and sitting pretty with an average price of $2.11! This only tells me that I am doing well with my picks in that some of the things I am seeing are being seen by other traders, and more importantly, traders who have more experience than myself!
The same thing occurred with my trade in PCX that I called out back in February, as well as with HW! I picked these positions and then 1-3 weeks later, they were called out by Daytradingradio.com!
So, like I said, I feel like I am doing well and that I should pat myself on the back!!!
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Update:
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I like how SPG looks on the daily. It looks like this will be our 3rd try to push above the 200EMA on the daily. I like a Buy trigger around $51.65; Stop at 49.00; Profit Target 1 - 54.00; Profit Target 2 - 54.50; Profit Target 3 - $55.00; and Profit target 4 - 56.00
ACAS came up in my search as well and I like that as a cheap play for this week. Big volume spike with a stochastic crossover to the upside from an oversold region. I like a buy trigger @ $3.00-3.20 with a profit target of $3.80-$5.00 region. Still need to plan this one out, and I want to watch how it performs today. I may take a nibble at it with very small size. Stop is @ $2.50.
ALD, a competitor of ACAS, looks interesting as well. I like a buy trigger @ $3.00-3.20. I would add to this as well on a pullback as long as it didn't break below $2.45. Target is $4.20-4.40.
Those were the one's I found / liked besides what I checked out on Daytradingradio.com.
Monday, June 29, 2009
Thursday, June 25, 2009
Day Trading Post #51
Today was a very tiring day... I did a lot of driving and traveling, starting my day at 5am EST, and getting back home around 8:30pm EST. Regardless, I was monitoring my positions throughout the day, checking how the market was doing periodically while driving on the interstate.
Anyway, I am going to make this posting short and sweet. Here is the run down:
SIRI: This position looks great, and I am looking to take profits into the 200EMA on the daily chart. I am in the money on this position now and holding 2,500 shares. I held through a small amount of pain where I actually added to my position a tad bit. Reasoning behind adding to this was because SIRI looked bullish and the pullback never came down to my stop! This is one is setting up nicely!
NCS: After today, I am very confident about NCS. The last time were hit these all time lows on NCS, we saw a pop up to 6-7 dollars! I got a little anxious on this trade and pulled the trigger early, starting to scale in and build my position at $2.25. I've been adding to this position slowly, and I am now in the money by approximately 20 cents. This one has a lot of upside potential, and I will add to it a little more if it really starts to take off. I love the stochastics at this oversold level as well!
GE: I took 200 shares of GE at around $11.59 or so, and I am in the money. The setup looks nice, and as long as the market pops up, GE is showing some good relative strength. The stochastics are about to turn over to the upside as well. I will be monitoring this one, but right now it looks like a hold to me. Profit target is around the monthly pivot at $13.41 or so.
HW: I am still holding my last hundred shares and will only get stopped out if I hit my entry price. Otherwise, I am letting this one run. I have already locked in approximatley 2.5-3 points on HW.
PCX: I am continuing to hold PCX as a long term investment. This one has been moving up and down. My stop on this is more of a mental stop since I have locked in 2 points already. I am continuing to hold as I think long term PCX has potential to move up big in the long run.
CNO: I am a little disapointed I didnt take out my 100 shares when I was up 2 points, but I wasn't watching this one closey. I only took this one to satisfy my desire to get in because I had tried to get in twice back in March just before we hit the lows in the market. I didn't get filled, and then saw a reentry which was a good one but I am now even or slightly up on the trade. Continuing to hold.
ZLC: I should have taken the point I was up on ZLC prior to earnings a few weeks ago. Now I am down a point, but things are setting up for a pop. I am holding and may add to this if I see some good strength coming into Zale's.
CNB: I got stuck in this one and I have to say, I was bkinded by greed. I should have takent the point when I had 1,500 shares, but instead I scaled out 1/3rd, then took out 1/4 as it pulled back, and held half. Unfortunately news of bankruptcy made CNB gap down, and my stop is very very close to being hit. I locked in just over $300 or so profit, and net profit if I were to close out now would result in me being net negative. Holding for now, but I may cut this one off very soon if it continues to show weakness.
LEA: This was a great trade and I was up over a point on about 1000 shares or so, but like CNB I held on, scaled out small, and am now kicking myself. LEA has now filed for Chapter 11, and unfortunately, I would have been profitable on this trade, but it started to show some decent strength this past Tuesday and Wednesday, so I added to the position. I was down 10 cents or on 600 shares until the bad news came out today. This one is temporarily at a hold, but like CNB, I may cut it off shortly if it continues to show weakness. It goes to show you that even though technical analysis works well, bad news can trump all of your research!!!
That is my run down on my current positions. I will have more detailed posts in the future with charts, etc.
That is all for now!
Anyway, I am going to make this posting short and sweet. Here is the run down:
SIRI: This position looks great, and I am looking to take profits into the 200EMA on the daily chart. I am in the money on this position now and holding 2,500 shares. I held through a small amount of pain where I actually added to my position a tad bit. Reasoning behind adding to this was because SIRI looked bullish and the pullback never came down to my stop! This is one is setting up nicely!
NCS: After today, I am very confident about NCS. The last time were hit these all time lows on NCS, we saw a pop up to 6-7 dollars! I got a little anxious on this trade and pulled the trigger early, starting to scale in and build my position at $2.25. I've been adding to this position slowly, and I am now in the money by approximately 20 cents. This one has a lot of upside potential, and I will add to it a little more if it really starts to take off. I love the stochastics at this oversold level as well!
GE: I took 200 shares of GE at around $11.59 or so, and I am in the money. The setup looks nice, and as long as the market pops up, GE is showing some good relative strength. The stochastics are about to turn over to the upside as well. I will be monitoring this one, but right now it looks like a hold to me. Profit target is around the monthly pivot at $13.41 or so.
HW: I am still holding my last hundred shares and will only get stopped out if I hit my entry price. Otherwise, I am letting this one run. I have already locked in approximatley 2.5-3 points on HW.
PCX: I am continuing to hold PCX as a long term investment. This one has been moving up and down. My stop on this is more of a mental stop since I have locked in 2 points already. I am continuing to hold as I think long term PCX has potential to move up big in the long run.
CNO: I am a little disapointed I didnt take out my 100 shares when I was up 2 points, but I wasn't watching this one closey. I only took this one to satisfy my desire to get in because I had tried to get in twice back in March just before we hit the lows in the market. I didn't get filled, and then saw a reentry which was a good one but I am now even or slightly up on the trade. Continuing to hold.
ZLC: I should have taken the point I was up on ZLC prior to earnings a few weeks ago. Now I am down a point, but things are setting up for a pop. I am holding and may add to this if I see some good strength coming into Zale's.
CNB: I got stuck in this one and I have to say, I was bkinded by greed. I should have takent the point when I had 1,500 shares, but instead I scaled out 1/3rd, then took out 1/4 as it pulled back, and held half. Unfortunately news of bankruptcy made CNB gap down, and my stop is very very close to being hit. I locked in just over $300 or so profit, and net profit if I were to close out now would result in me being net negative. Holding for now, but I may cut this one off very soon if it continues to show weakness.
LEA: This was a great trade and I was up over a point on about 1000 shares or so, but like CNB I held on, scaled out small, and am now kicking myself. LEA has now filed for Chapter 11, and unfortunately, I would have been profitable on this trade, but it started to show some decent strength this past Tuesday and Wednesday, so I added to the position. I was down 10 cents or on 600 shares until the bad news came out today. This one is temporarily at a hold, but like CNB, I may cut it off shortly if it continues to show weakness. It goes to show you that even though technical analysis works well, bad news can trump all of your research!!!
That is my run down on my current positions. I will have more detailed posts in the future with charts, etc.
That is all for now!
Saturday, June 20, 2009
Day Trading Post #50
If only it were true! I woke up this morning, checked out my beast of a computer... my trading / gaming / work computer and saw that I had my trading platform open still. Anyway, I'm assuming that the info being displayed isn't accurate but if it is I will be EXTREMELY HAPPY!
Check it out:
It shows SIRI trading 100 shares at $6.65 as the last print... if that's the case all I have to say is F*CK YEA!!!!! LOL!!! I guess if it is true, SIRI hit a home run with their new iPhone App for the new model iPhone that came out this week!
But like I said, I'm assuming that these were either false prints and/or somebody got screwed over and placed a market order after the close getting some crazy bad fill. Regardless, it put me on a short term high for now! I'll definitely be checking on Monday to see where we are really at, but I figured I'd post this up here because it's either very humorous, or extremely amazing! Hahaha!
See you Monday!
Check it out:
It shows SIRI trading 100 shares at $6.65 as the last print... if that's the case all I have to say is F*CK YEA!!!!! LOL!!! I guess if it is true, SIRI hit a home run with their new iPhone App for the new model iPhone that came out this week!
But like I said, I'm assuming that these were either false prints and/or somebody got screwed over and placed a market order after the close getting some crazy bad fill. Regardless, it put me on a short term high for now! I'll definitely be checking on Monday to see where we are really at, but I figured I'd post this up here because it's either very humorous, or extremely amazing! Hahaha!
See you Monday!
Friday, June 19, 2009
Day Trading Post #49
So, yesterday premarket, things were gapped up and the stocks I listed in post #48 were on my watch list. I ended up taking SIRI and NCS, but I should have waited. The gap up messed with my plan a little, and I pulled the trigger a little early on both positions. It's nothing too bad though, and I am still confident in my trades. I took a total of 400 shares of NCS at an average price of 2.22, and I have 2500 shares of SIRI at an average price of $0.41ish.
The plan was to get into NCS if it broke below $2.00, but I will add to my position as it pulls back. I know that I am bottom fishing on this one, but I am confident that we will see a pop. SIRI pulled back 15 minutes into the trading day and continued to pull back the whole day yesterday. I have my position, and I am sticking to it. If I see some really good strength I may add to my position but as of now I am holding. I held off on taking EBHI, but that would have been a good trade yesterday. Oh well :(! I put a trade out for MESA but it turned out my broker does have enough shares available to buy it or something, so I moved on from that trade (would have been nice to have gotten in that one though). And finally, UAUA pulled back to $3.80, so I am glad I held off on getting into that one, although it's setting up nicely today, so i may pull the trigger!
Today is quadruple witching, so look out for lots of manipulation!!! Any big pops on any of my positions, and I plan to take them off the table and lock in profit! Other than that I will just be sitting back, observing, and only taking trades if I see great setups. I have gotten burned in the past on quadruple witching, so I don't want to be too aggressive today.
Anyway, I will post an update later today. That's all for now!
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Update @ 6pm after todays close...
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So, I am now holding onto SIRI (2,500 shares), CNB (750 shares), NCS (400 shares), LEA (250 shares), HW (100 shares), CNO (100 shares), PCX (100 shares), and ZLC (100 shares).
Of those positions, I have already locked in profit on CNB, LEA, HW, and PCX. Of the remaining, no stops have been hit, and I am currently holding and planning to take profits soon.
Anyway, today was extremely slow, choppy, and uneventful. To be honest, I hear people always saying things like "Tommorow should be good its tripe/quadruple witching" only to see that nothing happens. Most of my current positions stayed the same and at the close my account was up from yesterday by about 20 bucks. Nothing special at all. The only good thing is that since the close SIRI has been popping up which is nice to see, and it's now at $0.38 cents. My price is $0.41 cents, so I am only down a few cents on it now. We'll see what happens monday though. Other than that, my days have been spent watching the market and studying for the series 7 exam. Of those two main activities, none have been too exciting yet. With that said, I hope you are doing well in the markets and have a great weekend!
The plan was to get into NCS if it broke below $2.00, but I will add to my position as it pulls back. I know that I am bottom fishing on this one, but I am confident that we will see a pop. SIRI pulled back 15 minutes into the trading day and continued to pull back the whole day yesterday. I have my position, and I am sticking to it. If I see some really good strength I may add to my position but as of now I am holding. I held off on taking EBHI, but that would have been a good trade yesterday. Oh well :(! I put a trade out for MESA but it turned out my broker does have enough shares available to buy it or something, so I moved on from that trade (would have been nice to have gotten in that one though). And finally, UAUA pulled back to $3.80, so I am glad I held off on getting into that one, although it's setting up nicely today, so i may pull the trigger!
Today is quadruple witching, so look out for lots of manipulation!!! Any big pops on any of my positions, and I plan to take them off the table and lock in profit! Other than that I will just be sitting back, observing, and only taking trades if I see great setups. I have gotten burned in the past on quadruple witching, so I don't want to be too aggressive today.
Anyway, I will post an update later today. That's all for now!
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Update @ 6pm after todays close...
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So, I am now holding onto SIRI (2,500 shares), CNB (750 shares), NCS (400 shares), LEA (250 shares), HW (100 shares), CNO (100 shares), PCX (100 shares), and ZLC (100 shares).
Of those positions, I have already locked in profit on CNB, LEA, HW, and PCX. Of the remaining, no stops have been hit, and I am currently holding and planning to take profits soon.
Anyway, today was extremely slow, choppy, and uneventful. To be honest, I hear people always saying things like "Tommorow should be good its tripe/quadruple witching" only to see that nothing happens. Most of my current positions stayed the same and at the close my account was up from yesterday by about 20 bucks. Nothing special at all. The only good thing is that since the close SIRI has been popping up which is nice to see, and it's now at $0.38 cents. My price is $0.41 cents, so I am only down a few cents on it now. We'll see what happens monday though. Other than that, my days have been spent watching the market and studying for the series 7 exam. Of those two main activities, none have been too exciting yet. With that said, I hope you are doing well in the markets and have a great weekend!
Thursday, June 18, 2009
Day Trading Post #48
Ok, I am a little disappointed that I didn't lock in as much profit as I could have on some of my positions but I am not discouraged at all. As of now, if you refer to posting #45, you can see that unfortunately, the S&P 500 cash failed to close above and hold the 200EMA on the daily chart. On top of that, the stochastics on the SMI have turned over towards the downside, and the market has been pulling back. Overall, I think that this presents a great opportunity to find some nice setups for buying! Despite the fact that we are pulling back, we have a lot of support under us as I stated in previous posts. First, we have 900 which is a very psychological number (although I think that 900 won't bee too hard to break under). Then, we have 880-876, 850ish, 825, 800, 776, and so on... So, it will be very tough for the bears to bring us down that far. Again it's important to note that this is just my own interpretation of the market and that I can not predict the future! But, as I said, I personally feel that we are still in good shape and this week has just been a necessary pullback in the market. We've been going up and up and up, and at some point, people have to start taking profits. On top of that, for those people who got in late and like to chase stocks, I'm sure that we are seeing some selling as fear comes back into the market. Those who chased don't want to see us fall hard again hence we see some more selling. Again, this is just my interpretation.
Anyway, as I said, I feel that there are some nice setups and some good opportunities. As of now, I do have some positions in the open market that are slightly against me, but none of my stops have been hit! So, back on topic, I said there were some decent setups that I've seen and that I may take. I went through charts tonight, listened to day trading radio, and I would like to get some more cash out in the market so that it can work for me. As of now, I only have 30% of my cash in my long term account in the open market... so 70% of my money is just sitting there. Time to put it to work! Below are some charts / notes I've taken on some stocks and setups I like: (note: these are all cheapies, but they are they setups I liked!)
These are two that I like from day trading radio dot com:
UAUA:
-Good buying volume
- Stochastics are about to cross over to the upside & are oversold!
- 20% short interest... big upside potential!
- Entry @ 4.18 / add on pullback if breaks under $4 / stop @ $3.60ish
SIRI:
-Buying volume spike!
- Broke out of consolidation to the upside
- Entry @ $0.40 if pulls back otherwise buy @ $0.44
- Stop @ 32 cents give or take
- Profit target around 55-60 cents... scale out here or take full profit
- Based on history of chart, may be quick trade (1-4 days after entry)
Some charts / notes from my own picks and research:
EBHI:
-Big selling volume today
- waiting for stochastics to turn to upside / entry @ $0.20 w/ a stop @ 10-12 cents
-hitting 52 week low... this one may be some bottom fishing
(EBHI filed for bankruptcy protection, so I may hold off and wait before I dive into this one. I still think we can see a pop here)
MESA:
- STO crossover to the upside!
- HUGE volume spike! Lots of buying!
- Buy @ 0.13 / stop @ 9 cents / Target @ 19-24 cents
NCS: (I really like this one... lots of upside potential!)
- Very oversold and close to $2.00... approaching march lows / 2 year lows!
- Stochastics are very oversold and look like they may cross to the upside.
- Buy @2.21 (scale in)... add if breaks $2.00 / stop @ 1.75ish / targets to scale out
$3.45, $4.00, $4.25, $5-6
-hitting 1year lows (close to it)... this one may be some bottom fishing
That is my research for now, and I am sticking to it. It is important to note that these picks are just my interpretations and in no way am I suggesting that you get into any of these trades. I am not a financial advisor nor do I claim to be one. This is strictly my own interpretation and my own notes for myself. Please be careful with any trades you take as you are responsible for your own money, your own trades, and understand that you are taking a risk with any sort of investment.
With that said, I'm out! That's all for now!
Anyway, as I said, I feel that there are some nice setups and some good opportunities. As of now, I do have some positions in the open market that are slightly against me, but none of my stops have been hit! So, back on topic, I said there were some decent setups that I've seen and that I may take. I went through charts tonight, listened to day trading radio, and I would like to get some more cash out in the market so that it can work for me. As of now, I only have 30% of my cash in my long term account in the open market... so 70% of my money is just sitting there. Time to put it to work! Below are some charts / notes I've taken on some stocks and setups I like: (note: these are all cheapies, but they are they setups I liked!)
These are two that I like from day trading radio dot com:
UAUA:
-Good buying volume
- Stochastics are about to cross over to the upside & are oversold!
- 20% short interest... big upside potential!
- Entry @ 4.18 / add on pullback if breaks under $4 / stop @ $3.60ish
SIRI:
-Buying volume spike!
- Broke out of consolidation to the upside
- Entry @ $0.40 if pulls back otherwise buy @ $0.44
- Stop @ 32 cents give or take
- Profit target around 55-60 cents... scale out here or take full profit
- Based on history of chart, may be quick trade (1-4 days after entry)
Some charts / notes from my own picks and research:
EBHI:
-Big selling volume today
- waiting for stochastics to turn to upside / entry @ $0.20 w/ a stop @ 10-12 cents
-hitting 52 week low... this one may be some bottom fishing
(EBHI filed for bankruptcy protection, so I may hold off and wait before I dive into this one. I still think we can see a pop here)
MESA:
- STO crossover to the upside!
- HUGE volume spike! Lots of buying!
- Buy @ 0.13 / stop @ 9 cents / Target @ 19-24 cents
NCS: (I really like this one... lots of upside potential!)
- Very oversold and close to $2.00... approaching march lows / 2 year lows!
- Stochastics are very oversold and look like they may cross to the upside.
- Buy @2.21 (scale in)... add if breaks $2.00 / stop @ 1.75ish / targets to scale out
$3.45, $4.00, $4.25, $5-6
-hitting 1year lows (close to it)... this one may be some bottom fishing
That is my research for now, and I am sticking to it. It is important to note that these picks are just my interpretations and in no way am I suggesting that you get into any of these trades. I am not a financial advisor nor do I claim to be one. This is strictly my own interpretation and my own notes for myself. Please be careful with any trades you take as you are responsible for your own money, your own trades, and understand that you are taking a risk with any sort of investment.
With that said, I'm out! That's all for now!
Wednesday, June 10, 2009
Day Trading Post #47
Today is looking to be a good day! LEA is up almost a point and I'm holding some nice profits in that now. It's a little bitter sweet though because CNB is had some bad news come out and gapped down as well. So even though I've locked in profits on CNB, I am now down on the position, but not by that much!
LEA is my money maker right now and the setup looks GREAT!!! I am continuing to hold and plan to take profits soon!
As for CNB, I am holding until my stop is hit... we'll see what happens, but what I do like is that its getting into an oversold area and has the potential to turn over to the upside on the stochastics. Worst case scenario, I take a hit, but that's how trading goes. Cut your losses and let your gains run!
LEA is my money maker right now and the setup looks GREAT!!! I am continuing to hold and plan to take profits soon!
As for CNB, I am holding until my stop is hit... we'll see what happens, but what I do like is that its getting into an oversold area and has the potential to turn over to the upside on the stochastics. Worst case scenario, I take a hit, but that's how trading goes. Cut your losses and let your gains run!
Tuesday, June 9, 2009
Day Trading Post #46
Today is going well with my swing trades and I don't want to speak too early.... but screw it I'm going too! LEA is finally popping back up!!!! I added another 400 shares today bringing my average price down to $1.48 and it has now retraced all the way back to my average price! Now time to make some profits baby!!!! I added to it when it crossed back up over the 76.4% Fibonacci Retracement and things look good!
Ok, is that cocky? Maybe.... but I'd like to attribute it to confidence! LOL
Anyway LEA is trading above $1.50 and I'm pumped up! The chart is below with my notes:
Anyway LEA is trading above $1.50 and I'm pumped up! The chart is below with my notes:
Monday, June 8, 2009
Day Trading Post #45
So, no new trades to talk about at this point in time. Basically my account is hovering around the same level its been at for the past 3 weeks. I added 100 shares to LEA last week, and then it pulled back a little bit more. Nothing too bad though.
As for the market, we are stuck in a 60 point range on the S&P cash since we broke 880 on May 3rd. We've tested this level multiple times as both support and resistance and it looks like a solid area of support at this point in time. We tested 880 on the S&P cash as support on May 13th, 14th, 15th, 21st, 22nd, and 25th; We tested 880 as resistance on January 28th, 29th, February 9th, and April 17th. Currently, we are hovering around the 200EMA on the daily chart and haven't been able to successfully close above it without pulling back under it a day later. Also, the stochastics (SMI indicator) on the S&P cash is starting to top out again but we may get a further push up. The current value that I see today for the SMI is 58.75. So, we have some room to push up on the Stochastics until we reach an over bought level. Also, it's interesting to see that we are currently having trouble breaking through the same highs of around 940-945 that we were hitting back at the start of the new year on January 2nd, 5th, and 6th. Then, looking at the S&P Daily, we can see that there is the monthly R1 and R2 pivot just above us at 944 and 969.
Overall, I would say that we have the potential to continue upwards if we can close above the 200EMA and break through the monthly R1 pivot at 944. If we do that, then we'll also see the 20/200 EMA cross over to the upside followed by the 50/200 EMA cross over which will be very bullish. It seems to me that things are in limbo right now, and we are waiting for that big move to happen... will it be good news that pushes us up or will we lose our momentum and pull back down? Personally, I am bullish, but we'll see! You never know how things will go until they've already happened!
In the mean time, I am going to be managing my swing trades, and studying for the Series 7 Exam. That's all for now!
As for the market, we are stuck in a 60 point range on the S&P cash since we broke 880 on May 3rd. We've tested this level multiple times as both support and resistance and it looks like a solid area of support at this point in time. We tested 880 on the S&P cash as support on May 13th, 14th, 15th, 21st, 22nd, and 25th; We tested 880 as resistance on January 28th, 29th, February 9th, and April 17th. Currently, we are hovering around the 200EMA on the daily chart and haven't been able to successfully close above it without pulling back under it a day later. Also, the stochastics (SMI indicator) on the S&P cash is starting to top out again but we may get a further push up. The current value that I see today for the SMI is 58.75. So, we have some room to push up on the Stochastics until we reach an over bought level. Also, it's interesting to see that we are currently having trouble breaking through the same highs of around 940-945 that we were hitting back at the start of the new year on January 2nd, 5th, and 6th. Then, looking at the S&P Daily, we can see that there is the monthly R1 and R2 pivot just above us at 944 and 969.
Overall, I would say that we have the potential to continue upwards if we can close above the 200EMA and break through the monthly R1 pivot at 944. If we do that, then we'll also see the 20/200 EMA cross over to the upside followed by the 50/200 EMA cross over which will be very bullish. It seems to me that things are in limbo right now, and we are waiting for that big move to happen... will it be good news that pushes us up or will we lose our momentum and pull back down? Personally, I am bullish, but we'll see! You never know how things will go until they've already happened!
In the mean time, I am going to be managing my swing trades, and studying for the Series 7 Exam. That's all for now!
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