Trades to come... FSLR has been pulling back. I feel like its a risky trade at the moment, and I am personally staying out. The daily is starting to setup for a long position, but we could see it come down even further soon enough. The weekly chart is still in a down trend. Once I see the daily and weekly charts match up, then I'll take the trade. Other than that I am just watching what I've got, and holding off on focusing all my attention on trading until I take my exam. That is all for now!
Tuesday, August 25, 2009
Day Trading Post #61
Just wanted to post a brief update since it has been about 2 weeks since I last posted. So, SIRI couldn't be going better... well it could, but the trade is amazing so far in my opinion. I am up about 70% on the trade and things look good. Also, the channel trade in SLM setup nicely, and I have added to it the past 2 days. I wasn't comfortable adding at the lower trend line, but have been adding to it as it breaks above the upper trend line. This trade has potential and I like the stochastics on the daily chart. SYMC is not doing much and this was more of an experimental trade. It isn't really going against me, nor is it going positive by much. I am basically flat on the trade. Then, LDK, the position I haven't been watching. Nothing really going on there.
Trades to come... FSLR has been pulling back. I feel like its a risky trade at the moment, and I am personally staying out. The daily is starting to setup for a long position, but we could see it come down even further soon enough. The weekly chart is still in a down trend. Once I see the daily and weekly charts match up, then I'll take the trade. Other than that I am just watching what I've got, and holding off on focusing all my attention on trading until I take my exam. That is all for now!
Trades to come... FSLR has been pulling back. I feel like its a risky trade at the moment, and I am personally staying out. The daily is starting to setup for a long position, but we could see it come down even further soon enough. The weekly chart is still in a down trend. Once I see the daily and weekly charts match up, then I'll take the trade. Other than that I am just watching what I've got, and holding off on focusing all my attention on trading until I take my exam. That is all for now!
Wednesday, August 12, 2009
Day Trading Post #60
So, I've been in the process of studying for the series seven, and I am almost through with the study material. Besides that, I have held off on trading this week because the market is a bit overbought on the daily chart, so the market is in need of a pullback. We have broken through some major areas of resistance in the past few weeks, and at this point, I believe that the minor pull back we have seen / are seeing is just people taking profits. After that, we are good to go for a break to the upside (I think things look good to about 1150 on the S&P Cash but I have to check the charts again... this number is just off the top of my head right now from what I think I remember seeing).
Anyway, SYMC is setting up nicely, and we have had a little pullback of 50-60 cents from my entry, but it has retraced and I am even on the trade. I plan to add to this position at a break of $15.70, and looking to fill the gap on the daily chart. SLM looks like it is coming back down to the bottom of the falling wedge pattern, and I am continuing to hold. I will only get out if we significantly break the lower trend line on the chart (see post #59). Otherwise, I plan to add to this position when we touch the bottom trend line.
As for my penny plays, SIRI looks great! All of the nay sayers out there are just scared of some minor pull backs. The weekly chart looks amazing, the daily chart is decent, but overall I am loving the fact that we are holding above 50 cents. I would only begin to worry about this position if we broke down below 40 cents. Other than that, I am now deciding whether or not I should add more shares to my current position, or if I should just hold and maintain my average price of 42 cents. Time will tell, but I believe we will see this push up in the next few days or weeks to come! Finally, there is CNB. This is an important week to watch. The bad news that came out has taken its toll on the stock, although if we see some good news by the end of this week in regards to the investigations that are being conducted, we could see a big pop. If this happens, I am out! If not, and we see a continuing decline, I will be out as well at a break of 40 cents.
Interesting week, and a slow one at that. At least I have my study materials to keep me company as I watch red and green candlesticks form on quotetracker charts...
Anyway, SYMC is setting up nicely, and we have had a little pullback of 50-60 cents from my entry, but it has retraced and I am even on the trade. I plan to add to this position at a break of $15.70, and looking to fill the gap on the daily chart. SLM looks like it is coming back down to the bottom of the falling wedge pattern, and I am continuing to hold. I will only get out if we significantly break the lower trend line on the chart (see post #59). Otherwise, I plan to add to this position when we touch the bottom trend line.
As for my penny plays, SIRI looks great! All of the nay sayers out there are just scared of some minor pull backs. The weekly chart looks amazing, the daily chart is decent, but overall I am loving the fact that we are holding above 50 cents. I would only begin to worry about this position if we broke down below 40 cents. Other than that, I am now deciding whether or not I should add more shares to my current position, or if I should just hold and maintain my average price of 42 cents. Time will tell, but I believe we will see this push up in the next few days or weeks to come! Finally, there is CNB. This is an important week to watch. The bad news that came out has taken its toll on the stock, although if we see some good news by the end of this week in regards to the investigations that are being conducted, we could see a big pop. If this happens, I am out! If not, and we see a continuing decline, I will be out as well at a break of 40 cents.
Interesting week, and a slow one at that. At least I have my study materials to keep me company as I watch red and green candlesticks form on quotetracker charts...
Friday, August 7, 2009
Day Trading Post #59
So, this week ended bitter sweet for me. I can't complain much because profit is profit, but I did give back a little more than I wanted. I am very pleased with myself in regards to my trades in GE and FWLT! I took FWLT this past Tuesday just before the close as we broke the neckline on an inverse head and shoulders pattern. All the signals were there, and I pointed them out in my previous post and boy was this one a winner! I sold out of FWLT for a profit of +4.85 (20.24% profit)!!! Chart is below:
GE was also a great trade! I took GE long at $11.68 on June 22, and then watched it sell off a bit. The plan was to hold unless it broke under $9.82-$10.00, and it never did. Also, I planned to add to GE if it were to break back above $11.00, and when it did, I added to my position. In the end, if you take a look at the chart, you can see the stochastics entering an oversold area, and then they turn to the upside. On top of that, the 20/50ema crossover occurred to the upside pushing the stock even further up, and I was able to scale out at $13.05, $13.25, and then today I sold the last of my shares into strength at $14.71. I am very pleased with this trade because I did not let greed take over and influence my decision making. Instead, I stuck with my plan and the sold off the last of my shares today for an average profit of +2.10 (19.24% profit)! Chart is below:
As for my other holdings, I still have SYMC and it's setting up nicely. I am basically even on this trade right now though. Also, I took SLM yesterday after seeing the chart, and I love the setup. The Stochastics are oversold, crossing to the upside. Also, it is in a falling wedge pattern, and it looks as if we could see the 50/200ema cross over shortly. Chart below:
Finally, there is SIRI and CNB, my penny plays. CNB is a position I got stuck in and married... and yesterday it looked promising after rising 30% in one day. So, with the setup, I added to the position and doubled down. Unfortunately, some more bad news came out pushing the stock right back down to where it was. So this position hurts a little and I am almost ready to take the loss and move on. We will see how it plays out next week. As for SIRI, I am very bullish! SIRI reported better earnings than their projected 11 cents loss per share. On top of that, the clunker bill being passed in congress looks promising too for SIRI since a majority of their subscribers are in fact new car owners. Finally, the weekly chart looks very promising, and I like the setup. Right now, we haven't seen it pop as much as it should because of manipulation in my honest opinion. I am continuing to hold with anticipation of good things to come in the near future!
So, I am pleased with myself because I am starting to be more mechanical about my trades and not letting greed take over. I am dissapointed because even though I had my reasons for adding to a losing position, uncontrollable forces came in and changed the scenario overall causing some pain. Regardless, everyday is a learning experience. With that said, take care!
That's all for now!
GE was also a great trade! I took GE long at $11.68 on June 22, and then watched it sell off a bit. The plan was to hold unless it broke under $9.82-$10.00, and it never did. Also, I planned to add to GE if it were to break back above $11.00, and when it did, I added to my position. In the end, if you take a look at the chart, you can see the stochastics entering an oversold area, and then they turn to the upside. On top of that, the 20/50ema crossover occurred to the upside pushing the stock even further up, and I was able to scale out at $13.05, $13.25, and then today I sold the last of my shares into strength at $14.71. I am very pleased with this trade because I did not let greed take over and influence my decision making. Instead, I stuck with my plan and the sold off the last of my shares today for an average profit of +2.10 (19.24% profit)! Chart is below:
As for my other holdings, I still have SYMC and it's setting up nicely. I am basically even on this trade right now though. Also, I took SLM yesterday after seeing the chart, and I love the setup. The Stochastics are oversold, crossing to the upside. Also, it is in a falling wedge pattern, and it looks as if we could see the 50/200ema cross over shortly. Chart below:
Finally, there is SIRI and CNB, my penny plays. CNB is a position I got stuck in and married... and yesterday it looked promising after rising 30% in one day. So, with the setup, I added to the position and doubled down. Unfortunately, some more bad news came out pushing the stock right back down to where it was. So this position hurts a little and I am almost ready to take the loss and move on. We will see how it plays out next week. As for SIRI, I am very bullish! SIRI reported better earnings than their projected 11 cents loss per share. On top of that, the clunker bill being passed in congress looks promising too for SIRI since a majority of their subscribers are in fact new car owners. Finally, the weekly chart looks very promising, and I like the setup. Right now, we haven't seen it pop as much as it should because of manipulation in my honest opinion. I am continuing to hold with anticipation of good things to come in the near future!
So, I am pleased with myself because I am starting to be more mechanical about my trades and not letting greed take over. I am dissapointed because even though I had my reasons for adding to a losing position, uncontrollable forces came in and changed the scenario overall causing some pain. Regardless, everyday is a learning experience. With that said, take care!
That's all for now!
Tuesday, August 4, 2009
Day Trading Post #58
So, my postings haven't been as frequent but as I've said, I am studying for the series 7 and I've been dealing with the registration process with FINRA... what a headache.
Anyway, updates... GE!!! Hell yea! GE hit my GTC orders last week locking in +1.50 points of profit. I still have 1/3rd of my position in there as a runner and things look good. Also, SIRI was hanging around the 37-41 cents range and looked like a great buy on the daily so I kept adding to it on the pull backs. I am now holding 4k shares and have just over $0.10 profit per share... not too shabby! Finally, LDK is looking good and my trade in FSLR went great where I locked in an average of 17points. Unfortunately with FSLR there was a huge pop when earnings came out where I could have locked in 30 points profit, but that window of opportunity only lasted for about 30 minutes before FSLR fell down from $190 to the $150 range. I'm glad I got out with the profit I had (entering with an average price of $147.32 and exiting with an average price of $164 and change).
Anyway, I am holding SIRI into earnings which is in 2 days (Aug. 6) and anticipating a pop! We'll see how it goes, but so far so good. I've also taken 2 more trades today. I really don't like buying when things are already moving up ( I don't like to chase or average up) but I found some setups I like. The 2 trades I like are: FWLT and SYMC (charts below)
FWLT: Inverse head and shoulders on the daily chart where we are breaking the neck line, nice volume (slightly above average), Stochastics are in an uptrend and have some more room to push up, and it looks as if there will be a 20/50EMA crossover.
SYMC: See chart for comments... I like the gap play in this one, and I am anticipating the stochastics to cross over to the upside shortly. Looking to fill the gap with a small risk of 90 cents or so.
Other than that, I am currently holding LDK, GE, SIRI, SYMC, and FWLT.
My only loser is CNB (married this one a long time ago but the loss doesn't hurt any more)
Also in my previous post I pointed out the formation of an inverse head and shoulders on the weekly S&P Cash, and it is really playing out. That "Head and Shoulders" that was pointed out by the media and many other 'professionals' about 2 or 3 weeks ago was a very weak pattern in my opinion and as we can all see now, it did not play out. All those preaching Armageddon and calling a top in the market were wrong. It's important to look at the bigger picture all the time!
That is all for now!
Anyway, updates... GE!!! Hell yea! GE hit my GTC orders last week locking in +1.50 points of profit. I still have 1/3rd of my position in there as a runner and things look good. Also, SIRI was hanging around the 37-41 cents range and looked like a great buy on the daily so I kept adding to it on the pull backs. I am now holding 4k shares and have just over $0.10 profit per share... not too shabby! Finally, LDK is looking good and my trade in FSLR went great where I locked in an average of 17points. Unfortunately with FSLR there was a huge pop when earnings came out where I could have locked in 30 points profit, but that window of opportunity only lasted for about 30 minutes before FSLR fell down from $190 to the $150 range. I'm glad I got out with the profit I had (entering with an average price of $147.32 and exiting with an average price of $164 and change).
Anyway, I am holding SIRI into earnings which is in 2 days (Aug. 6) and anticipating a pop! We'll see how it goes, but so far so good. I've also taken 2 more trades today. I really don't like buying when things are already moving up ( I don't like to chase or average up) but I found some setups I like. The 2 trades I like are: FWLT and SYMC (charts below)
FWLT: Inverse head and shoulders on the daily chart where we are breaking the neck line, nice volume (slightly above average), Stochastics are in an uptrend and have some more room to push up, and it looks as if there will be a 20/50EMA crossover.
SYMC: See chart for comments... I like the gap play in this one, and I am anticipating the stochastics to cross over to the upside shortly. Looking to fill the gap with a small risk of 90 cents or so.
Other than that, I am currently holding LDK, GE, SIRI, SYMC, and FWLT.
My only loser is CNB (married this one a long time ago but the loss doesn't hurt any more)
Also in my previous post I pointed out the formation of an inverse head and shoulders on the weekly S&P Cash, and it is really playing out. That "Head and Shoulders" that was pointed out by the media and many other 'professionals' about 2 or 3 weeks ago was a very weak pattern in my opinion and as we can all see now, it did not play out. All those preaching Armageddon and calling a top in the market were wrong. It's important to look at the bigger picture all the time!
That is all for now!
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