This has been a very interesting week. We had some big moves in the market that have changed my tune overall. I am skeptical but things look like we are going to pull back. I am starting to see that in some of my trading, I held on until my risk (sometimes a little bit longer than I should have) but that I am not a big fan of having to hold on to the risk. Therefore, I am restructuring my trading strategy at the moment and refining it to limit risk even more so. I took two day trades this week which went sour but it doesnt deter me. I know that I will be able to regroup and bounce back. I did take a bearish hedge on my positions today by buying up SKF. I've got to listen to the charts now and not let my own bias influence my trades. Yes, I like to go long and most of my trades are on the long side but sometimes you need to change it up and go with the market.
That's it for now. Today's close will be interesting to see if we can hold the 1040 level on the S&P cash. If not, we are heading down to the next area of support around 987. With that said, be safe and good luck!
Friday, October 30, 2009
Wednesday, October 28, 2009
Day Trading Post #74
So, after doing a bunch of research last night, I read about 2 things that stuck with me and made a lot of sense. First, I read about the psychology and nature of bull vs. bear markets and while it seems pretty obvious that people are driven by fear and greed I found the article very interesting because it made an interesting point. Basically, the article explained that Bull Markets setup in such a way that they try to keep everyone out. They move up, and try to leave everyone behind while trying to also prevent people from finding an entry into a position. Bear markets do just the opposite. They are designed to keep people in the market for as long as possible. The idea is the push the market down just enough little by little so that the majority of people will hold on to hope that it will come back. The second thing that stuck with me was something I read in an article as well, but sounds a lot like a proverb: "You only ask advice when you know you are wrong but don't want to admit it." So, applying both of those things I read to my trading, today was the day where I drew my line in the sand. Many of my positions were pulling back to the 50ema on the daily charts. I told myself that if they broke through, I was out. If not, I was staying in. Well, today, a lot of my positions broke the 50ema so I had to take the losses. My account value pulled back approximately 15%, all of which ate away into my profits. Overall, my profits were essentially cut in half over the course of this week.
The lesson I have learned, which is important.... lock in profits. I got a little to greedy and was looking for those homeruns again. I have to learn to settle for the small gains. On a positive note, each of the positions I entered were profitable at some point throughout the trade, but I held on too long. I need to learn to lock in profits and to not look back. Plain and simple.
In the mean time, I am gauging the market and plan to wait for us to flush down to support around 1040 on the S&P Cash. Then we should be set for some longs. I am now only holding AET and SIRI as swings. I also have 2 penny stocks long term which I noted were speculative plays.
The lesson I have learned, which is important.... lock in profits. I got a little to greedy and was looking for those homeruns again. I have to learn to settle for the small gains. On a positive note, each of the positions I entered were profitable at some point throughout the trade, but I held on too long. I need to learn to lock in profits and to not look back. Plain and simple.
In the mean time, I am gauging the market and plan to wait for us to flush down to support around 1040 on the S&P Cash. Then we should be set for some longs. I am now only holding AET and SIRI as swings. I also have 2 penny stocks long term which I noted were speculative plays.
Tuesday, October 27, 2009
Day Trading Post #73
The market looks a bit weak the past few days despite the fact that the overall trend in the long term is still bullish. It's time to clean up the portfolio, manage some positions, lock in profit and cut off some losers. That's just what I did yesterday. LDK hit my stop order, and despite the fact that it looks like its starting to bottom out, it is a high risk play that I am not willing to take. As I am learning, sometimes it's a good move to just lock in profit and move on to something new in order to make your money work for you. Yesterday was not the best day for longs after some news and speculation came out regarding congress not extending the new home buyer bills along with the US dollar strengthening. As a result, the market pulled back and right now we are sitting just above the 20EMA on the daily chart. We definitely have the potential to fall down to about 1046 on the S&P Cash, so be careful with the longs.
Listening to the commentary from Day Trading Radio, I have to agree with the fact that the short term trend is bearish while the overall long term trend is bullish. I have to change my tune a bit personally and readjust being that I was 100% bullish as we saw the S&P hitting 1100. Unfortunately, that 1100 mark is a brick wall and we need this minor pullback to reset the market for the big move up. It may be a quick flush down to 1046 or it might take a few days or even weeks, but in the mean time I am looking for the market to pull back before I initiate any more longs. Along with that, I am sitting on my hands in order to prevent myself from building any snowballs. I have been learning a lot the past few days, and despite the fact I have taken some hits, I still remain profitable overall. My big thing is I need to lock in the profits quicker instead of looking for that homerun. Continuing with the baseball analogy, it's more important to be consistent and hit those singles and doubles in the long run rather than searching for that homerun all the time!
With that said, good luck in the market today! We will be opening up in the next 10 minutes or so!
Listening to the commentary from Day Trading Radio, I have to agree with the fact that the short term trend is bearish while the overall long term trend is bullish. I have to change my tune a bit personally and readjust being that I was 100% bullish as we saw the S&P hitting 1100. Unfortunately, that 1100 mark is a brick wall and we need this minor pullback to reset the market for the big move up. It may be a quick flush down to 1046 or it might take a few days or even weeks, but in the mean time I am looking for the market to pull back before I initiate any more longs. Along with that, I am sitting on my hands in order to prevent myself from building any snowballs. I have been learning a lot the past few days, and despite the fact I have taken some hits, I still remain profitable overall. My big thing is I need to lock in the profits quicker instead of looking for that homerun. Continuing with the baseball analogy, it's more important to be consistent and hit those singles and doubles in the long run rather than searching for that homerun all the time!
With that said, good luck in the market today! We will be opening up in the next 10 minutes or so!
Thursday, October 22, 2009
Day Trading Post #72
Today was a choppy day in the market where the bears came out to test the market in the AM only to have the bulls come back swinging later in the day. As I said in my earlier posts, "BUY THE DIPS, SELL THE RIPS!!!" SLM held up nicely today and closed above $11, and I plan to hold this one for a further move up. Along with that, I added to the MPG downgrade. The downgrade that pushed MPG down seemed more like manipulation than anything else. As for my other positions, everything held up nicely and things are looking good going into tomorrow.
On a side note, did you see AMZN on earnings!!! I was sitting and watching it but since I didn't have enough capital left to fund the trade, I sat on the sidelines and watched it rocket up! Too bad I didn't take it, but then and again, there are always other trades. See you all tomorrow!
On a side note, did you see AMZN on earnings!!! I was sitting and watching it but since I didn't have enough capital left to fund the trade, I sat on the sidelines and watched it rocket up! Too bad I didn't take it, but then and again, there are always other trades. See you all tomorrow!
Wednesday, October 21, 2009
Day Trading Post #71
The past week has been very interesting, and I have been seeing some swings in my profits with the positions I am holding. Regardless, things are playing out nicely. Today, SLM popped off its earnings report from yesterday after the close and we got to a high of $11.54. Yesterday, after hours I wanted to scale out a third of my position but accidentally added to it. Maybe it was the right move but I was not comfortable doing so, so I sold the shares I bought for a quick profit of 5 cents, along with an additional 100 shares. Today, I held my 600 share position in SLM and watched it hit the high of the day and pull back 70 cents or so. I am still bullish and will look to take profits, but I do feel that we have some more room to move up. The daily chart looks great, and I am tempted to lock in profit, although the weekly chart says to me 'Stay in!' Now what should I do? I think my game plan will be to lock in profit and leave a third of my position in to run. If it plays out the way the weekly chart is set up, it will be a nice gain. We will see how it trades tomorrow. Will SLM continue running up? I'd say things look bullish but we may see people lock in profit.
LDK popped today off of some news after hours which is posted in the shout box. I was almost stopped out but as I take a look at the chart, it continues to set up for an additional buy. I am watching it closely though and may just cut it off if it doesn't pop. AET seemed to have a nice start to the day, and then it sold off as the market came to a close. I will also be watching it closely. Finally, the cheapies... MPG and CVM. CVM looks decent still, but MPG got downgraded and gapped down. Might be taking this one off the table if it doesn't hold the 20ema tommorow on the daily chart. Also, ALY pulled back a bit at the close too. My take is that the market was choppy today, and as a result, big time buyers are still in the process of shaking out all of the weak hands. Things will play out soon enough.
LDK popped today off of some news after hours which is posted in the shout box. I was almost stopped out but as I take a look at the chart, it continues to set up for an additional buy. I am watching it closely though and may just cut it off if it doesn't pop. AET seemed to have a nice start to the day, and then it sold off as the market came to a close. I will also be watching it closely. Finally, the cheapies... MPG and CVM. CVM looks decent still, but MPG got downgraded and gapped down. Might be taking this one off the table if it doesn't hold the 20ema tommorow on the daily chart. Also, ALY pulled back a bit at the close too. My take is that the market was choppy today, and as a result, big time buyers are still in the process of shaking out all of the weak hands. Things will play out soon enough.
Friday, October 16, 2009
Day Trading Post #70
Today was not as great as the past two days for longs, and my account value pulled back, but despite how the market traded today on options expiration day, we are still in a bullish market. Take a look at the weekly indices charts and you can see we are breaking above resistance. Sure, we are going to have pull backs, but we should be "buying the dips and selling the rips" in this kind of market.
As for my positions, many of them pulled back today, and I am not too worried about them except for LDK and AET. LDK missed my stop today and bounced back up a little bit, but still looks pretty sick to me. AET sold off today, and I may just eat the loss on these two positions and put my money into some stocks that will work.
Other than that, since last week, my portfolio is up and things are looking good. Have a great weekend!
As for my positions, many of them pulled back today, and I am not too worried about them except for LDK and AET. LDK missed my stop today and bounced back up a little bit, but still looks pretty sick to me. AET sold off today, and I may just eat the loss on these two positions and put my money into some stocks that will work.
Other than that, since last week, my portfolio is up and things are looking good. Have a great weekend!
Thursday, October 15, 2009
Day Trading Post #69
The market ended up 47 points on the DOW and 4.54 points on the SP500 after shaking a bit throughout the day. We are in a bull market, so it's time to buy! Stocks look good, companies earnings are coming out and performing well, and the market is reacting! The charts are very bullish, and being that we closed above 1093 on the SP500 cash, we are set to run up to around 1250 or so. The chart's don't lie, and just as we saw the market flush down last year at this time, there are no areas of major resistance to keep us from pushing up. Sure we may see some minor pull backs, but I feel the overall trend is set and we are going long!
Today, I took SYMC off the table. It hit my target yesterday and started to pull back today. I gave back about 20 cents, but I'm not too concerned with that. What I like more so about the trade is that it played out the way I had predicted. We filled the gap from last August and that's all there was too it. Other than that, my other positions maintained their current standings from yesterday or pushed up higher. The only losers I have on the table include LDK and AET. AET is very oversold, the SMI look good for a move up, and once the news quiets down regarding the health care bill, we should see some moves up in the health care sector. On the other hand, LDK is slowly falling down further, and if it breaks through this major area of support in the range of $7.60-$8.00, I am out of it. No point to tie up capital and let losers get bigger.
As for some trades I took today, I found some cheap stocks that I liked the setups on. I have a lot of capital (for my account) in the open market right now, so I was looking at some of the cheaper stocks to find some setups and came across MPG and CVM. The charts look great on both where they have both created a bullish flag like pattern, SMI's have crossed to the upside, and they are breaking through areas of resistance. I like how they are set up (charts posted below):
Along with these trades, I also purchased some OTC stocks which are very speculative plays that I wouldn't recommend to anyone. If anything, I would describe these trades as being experimental, and I only put up a couple hundred bucks which I am willing to take a loss on to see how these play out. I guess you could call this a little bit of foward testing (as opposed to back testing since I took the plunge and got into the positions). Anyway, I am in EDVP from about a week ago, and then I took BEHL today as well. EDVP and BEHL look decent on the daily charts for a bottoming pattern and have a tremendous upside potential. We will see how these play out, and again as I said, these are highly speculative and I wouldn't recommend them to anyone. They are high risk trades, but with high risk comes high reward.
To finish off the day, here is a screen shot of the SP500 cash where you can see that we have no significant resistance above us. As I said earlier, it's time to buy! The only problem I am running into right now is that I don't enough money to buy everything I want to hold on to right now!
Today, I took SYMC off the table. It hit my target yesterday and started to pull back today. I gave back about 20 cents, but I'm not too concerned with that. What I like more so about the trade is that it played out the way I had predicted. We filled the gap from last August and that's all there was too it. Other than that, my other positions maintained their current standings from yesterday or pushed up higher. The only losers I have on the table include LDK and AET. AET is very oversold, the SMI look good for a move up, and once the news quiets down regarding the health care bill, we should see some moves up in the health care sector. On the other hand, LDK is slowly falling down further, and if it breaks through this major area of support in the range of $7.60-$8.00, I am out of it. No point to tie up capital and let losers get bigger.
As for some trades I took today, I found some cheap stocks that I liked the setups on. I have a lot of capital (for my account) in the open market right now, so I was looking at some of the cheaper stocks to find some setups and came across MPG and CVM. The charts look great on both where they have both created a bullish flag like pattern, SMI's have crossed to the upside, and they are breaking through areas of resistance. I like how they are set up (charts posted below):
Along with these trades, I also purchased some OTC stocks which are very speculative plays that I wouldn't recommend to anyone. If anything, I would describe these trades as being experimental, and I only put up a couple hundred bucks which I am willing to take a loss on to see how these play out. I guess you could call this a little bit of foward testing (as opposed to back testing since I took the plunge and got into the positions). Anyway, I am in EDVP from about a week ago, and then I took BEHL today as well. EDVP and BEHL look decent on the daily charts for a bottoming pattern and have a tremendous upside potential. We will see how these play out, and again as I said, these are highly speculative and I wouldn't recommend them to anyone. They are high risk trades, but with high risk comes high reward.
To finish off the day, here is a screen shot of the SP500 cash where you can see that we have no significant resistance above us. As I said earlier, it's time to buy! The only problem I am running into right now is that I don't enough money to buy everything I want to hold on to right now!
Wednesday, October 14, 2009
Day Trading Post #68
What a day in the market today! The DOW is now back up over 10,000, the S&P is flirting with resistance around 1,093, and with a little more of a push up, we can see this market really rally. We are in the midst of a bull market so I would be wary of short positions (at least that is just me). Anyway, my portfolio is doing well again. I have been paying attention to for just over a week again since I took a hiatus to deal with other things in life, and I have increased my profits to 28% overall in my portfolio.
Unfortunately, I still don't have a 'Day Trading Account' since I left the proprietary trading group (which might I add was shut down... but I left well before that happened). So, I have been swing trading my long term account and holding positions over night. Being that I must follow the regulations with my margin account, I am only allowed to take 3 day trades within 5 business days (i.e. - buy / sell securities in one business day without holding overnight). So, I decided that the opportunity was too good to pass up and I took an intraday trade in FAS (I figured go big or go home, and FAS was making moves today!). So, I took FAS long which you can see in the shoutbox on the right, held from 1:08pm and sold at 3:59pm for a gain of +2.30 points on 200 shares. I am very pleased with how this trade played out. I made notes on the charts below (4 charts shown - from left to right / top to bottom: 15m chart; Daily; 10m chart; 5m chart). Refer to the image below:
As for my long term holds, VMW is a monster and has no resistance until around $50 from the gap it made about 2 years ago. SLM broke out today, and I am holding my entire position still. SIRI is holding up nicely and I can't wait for earnings to come out to push this one up. SIRI is a dog of a stock and subject to manipulation but the charts still look good to me. ALY is playing out, and we should see a break of $5.00 soon, so I am continuing to hold. SYMC filled the gap, and I plan to lock in profits on it soon but I am still holding to see if it will run up a little further. Maybe its greed that is keeping me in the trade, but I have to be disciplined so I will lock in the profit if it doesn't continue to perform. AET bounced back a little bit, and I am watching it closely. Healthcare stocks took a little bit of a hit the past few days, but they are very oversold at this point and the SMI looks setup to cross over for a long. Then there is LDK which came out with some bad news last night... it is weak and I may just cut it off sometime this week and stop looking for the positives. He is sick and just tying up money in my account at this point in time. Finally, there is EDVP which was a very speculative position I took about a week or more ago. EDVP is an OTC stock and I took 5000 shares. We saw a nice pop with big volume yesterday and then watched it pull back today. I want to see how this one will play out, but it is such a small investment, I am not too concerned about it overall.
As for the blog site, if you haven't noticed, I added a lot to the site here. I inserted the DayTradingRadio.com chat room to the top of the site, as well as the video feed of the radio show to the right column. I like how it looks and it makes it easier for me to manage my browser when trading because I have all I need here on my blog now. On top of that, I added a counter to the site to get some statistics and see if anyone is checking out the site. If you are, feel free to post comments on the postings. I would love some feedback. Regardless, I will continue to update the blog for my own personal use to keep track of my trading. Anyway, things are going well, the market is looking great, and I feel like we are all in a good place right now. With that said, good luck in the market!
Unfortunately, I still don't have a 'Day Trading Account' since I left the proprietary trading group (which might I add was shut down... but I left well before that happened). So, I have been swing trading my long term account and holding positions over night. Being that I must follow the regulations with my margin account, I am only allowed to take 3 day trades within 5 business days (i.e. - buy / sell securities in one business day without holding overnight). So, I decided that the opportunity was too good to pass up and I took an intraday trade in FAS (I figured go big or go home, and FAS was making moves today!). So, I took FAS long which you can see in the shoutbox on the right, held from 1:08pm and sold at 3:59pm for a gain of +2.30 points on 200 shares. I am very pleased with how this trade played out. I made notes on the charts below (4 charts shown - from left to right / top to bottom: 15m chart; Daily; 10m chart; 5m chart). Refer to the image below:
As for my long term holds, VMW is a monster and has no resistance until around $50 from the gap it made about 2 years ago. SLM broke out today, and I am holding my entire position still. SIRI is holding up nicely and I can't wait for earnings to come out to push this one up. SIRI is a dog of a stock and subject to manipulation but the charts still look good to me. ALY is playing out, and we should see a break of $5.00 soon, so I am continuing to hold. SYMC filled the gap, and I plan to lock in profits on it soon but I am still holding to see if it will run up a little further. Maybe its greed that is keeping me in the trade, but I have to be disciplined so I will lock in the profit if it doesn't continue to perform. AET bounced back a little bit, and I am watching it closely. Healthcare stocks took a little bit of a hit the past few days, but they are very oversold at this point and the SMI looks setup to cross over for a long. Then there is LDK which came out with some bad news last night... it is weak and I may just cut it off sometime this week and stop looking for the positives. He is sick and just tying up money in my account at this point in time. Finally, there is EDVP which was a very speculative position I took about a week or more ago. EDVP is an OTC stock and I took 5000 shares. We saw a nice pop with big volume yesterday and then watched it pull back today. I want to see how this one will play out, but it is such a small investment, I am not too concerned about it overall.
As for the blog site, if you haven't noticed, I added a lot to the site here. I inserted the DayTradingRadio.com chat room to the top of the site, as well as the video feed of the radio show to the right column. I like how it looks and it makes it easier for me to manage my browser when trading because I have all I need here on my blog now. On top of that, I added a counter to the site to get some statistics and see if anyone is checking out the site. If you are, feel free to post comments on the postings. I would love some feedback. Regardless, I will continue to update the blog for my own personal use to keep track of my trading. Anyway, things are going well, the market is looking great, and I feel like we are all in a good place right now. With that said, good luck in the market!
Tuesday, October 13, 2009
Day Trading Post #67
The market has had some light volume today, but we do have earnings coming out for some big companies which might be holding all the big money back from pulling the trigger on buying or selling. Intel comes out with earnings after the close today, and it would be interesting to see how this plays out. The market looks to me like it is set for a move up, but things can change on a dime. Regardless I am still bullish.
I have been watching the health care sector and was surprised to see it sell off today at first until I realized that there was a vote in the Senate today regarding the passing of the Health Care bill by the finance committee. After the vote passed, we saw the health care stocks start to recover a bit, and I am under the impression that as the news clears, people will see this as a buying opportunity. We have some nice upside potentital with AET, UNH, WLP, and a few others. Those are just some I have been watching lately.
Besides that, SYMC filled the gap, and I am watching to see if we can break up into the $17 price range. If not, I'll take my shares off the table and lock in the profits. I took a tiny trade in SYMC back in August when we gapped down and never added to it because I was testing out a strategy. I just wanted to be in the trade to see how it would play out, and it has played out as I had anticipated.
As for my other positions, the only loser I am holding right now is LDK but that is because I got locked into it. It has been showing some decent support arount the $8.25 area, and I think we may see it move up soon. The daily chart is setting up right now for a buy and if I wasn't already in it, I think I would be looking at it for an entry at this point in time.
That's all for now!
I have been watching the health care sector and was surprised to see it sell off today at first until I realized that there was a vote in the Senate today regarding the passing of the Health Care bill by the finance committee. After the vote passed, we saw the health care stocks start to recover a bit, and I am under the impression that as the news clears, people will see this as a buying opportunity. We have some nice upside potentital with AET, UNH, WLP, and a few others. Those are just some I have been watching lately.
Besides that, SYMC filled the gap, and I am watching to see if we can break up into the $17 price range. If not, I'll take my shares off the table and lock in the profits. I took a tiny trade in SYMC back in August when we gapped down and never added to it because I was testing out a strategy. I just wanted to be in the trade to see how it would play out, and it has played out as I had anticipated.
As for my other positions, the only loser I am holding right now is LDK but that is because I got locked into it. It has been showing some decent support arount the $8.25 area, and I think we may see it move up soon. The daily chart is setting up right now for a buy and if I wasn't already in it, I think I would be looking at it for an entry at this point in time.
That's all for now!
Sunday, October 11, 2009
Day Trading Post #66
The market looks great right now! Things are set to move up, and on the S&P 500 chart and once we break through 1090, there are no major areas of resistance until 1250!
Many stocks have great setups right now, and the only problem I am having right now is that I don't have enough money in my account to take all the positions I want before we pop up! Hopefully, I have chosen some quality picks that will pay out nicely as we head into this bullish move in the market.
Here is a daily chart for the past 2 years for the S&P 500:
For all you bears out there who like to see things go down, analyze this chart posted on daytradingradio.com... this is a mirror image of the S&P 500 flipped upside down:
This chart is very interesting, and shows that the market should move further down on this chart (which in reality means up since this chart is upside down). Therefore, we should see a significant move in the market very soon.
Many stocks have great setups right now, and the only problem I am having right now is that I don't have enough money in my account to take all the positions I want before we pop up! Hopefully, I have chosen some quality picks that will pay out nicely as we head into this bullish move in the market.
Here is a daily chart for the past 2 years for the S&P 500:
For all you bears out there who like to see things go down, analyze this chart posted on daytradingradio.com... this is a mirror image of the S&P 500 flipped upside down:
This chart is very interesting, and shows that the market should move further down on this chart (which in reality means up since this chart is upside down). Therefore, we should see a significant move in the market very soon.
Friday, October 9, 2009
Day Trading Post #65
The market is looking pretty strong on the daily chart and my positions are mostly doing well. VMW is playing out nicely, and I am in the money on most positions. AET is starting to come back after yesterdays pull back, but other than that I really don't have much else to say. SMI on the S&P and the Dow looks good for a move up.
Go long!
Go long!
Thursday, October 8, 2009
Day Trading Post #64
Wow! It's been a long time since i last posted, but that is because I have been focusing my efforts on other things. Despite that, I am now focusing my efforts back on my trading. While I was on hiatus, I left some positions in place and things haven't gone too poorly. Unfortunately, looking back at some of my trades, I have been able to learn from my mistakes in regards to scaling out, holding too long, holding past profit targets. After going through my old trades, if I would have locked in profits when I had planned to originally, I would be up over 100% on my portfolio. But when you get excited in the moment of everything, you don't think as clearly or objectively as you are when you research for your stock picks. Anyway, when looking at my performance from my initial deposit of $4000, I managed to get about an 80% return on my money. Then, I deposited an additional $3000, and managed to bring my account value up to $12,000. Thus, I made an additional $2000 after my second deposit. That is a 66% return on the value of my second deposit, and a 74% return on my total investment of $7000. Well, feeling good about all of this, I went and deposited an additional $5000 into my account. This brought my total deposits to $13,000. I took some trades where I started to get greedy, and I got burned on 2 of them. LEA and CNB went sour and I lost approximately $2500. Then, I started focusing my efforts on studying for licensing exams and I stopped trading my personal account hence the lack of postings.
Anyway, I am now up on my account 20% overall with my entire deposit of $13,000. That's not too shabby, but now that I am back and focusing on my trades, I bought up $12,000 worth of positions yesterday off of some setups I liked. Things are going well, and I am in the money on most of my positions at this point.
Here are my most recent trades:
ALY is a cheap stock just under $5 that has a lot of potential. My notes are on the chart which explain my reasons for getting in. Overall, the setup looks very good to me. The SMI indicator is crossing over, there is no overhead resistance, and we have a 50/200 EMA crossover. I took 500 shares, and plan to take profits at some point after we break through $5. I do not have a tentative profit target on this trade as of now.
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VMW has reached a 2 year high. My main indicator, the SMI, show that the stock is turning over from being slightly over sold. There is no overhead resistance until about $51, so we have the potential to hit a home run with this one! Things look good, and for more technical details, check out my notes on the chart.
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AET looked promising as of yesterday, but today we have a gap down. I got into this based on the chart, and things looked as if AET were very oversold. The SMI is setting up, and I believe we have potential for this one to pop, but I plan to cut it off early if it doesn't cooperate with my plan. Check out the chart for my notes!
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I have been holding this one for a long time, but SLM still looks good to me. I got in back in early August because we had a falling wedge pattern that formed perfectly, and the SMI indicator was setup to pop. Then, we fell back into the channel, and the falling wedge continued to develop. Things still look good on it and I love that it never really went too far against me as it came back into the channel. Originally, I was trying to buy this up just before we broke the top trend line, but then I realized that I should have been buying every time we came down close to or touched the bottom trend line. As a result, I brought my average price down, and things are looking very promising right now. I will update this one as it plays out! Check the chart out for my notes.
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This is a screen shot of my current holdings in my portfolio. The only trades I haven't talked about in this post include SIRI, LDK, and SYMC. LDK is the only trade that kind of hurts right now, but I am holding because if I wasn't in it already, I am seeing a setup on the daily chart that I like. As a result, I probably would be looking to buy it at this point, so I haven't take the loss on it. SYMC is closing the gap, and turning out to be a great trade. I took small size with this one because I was testing the strategy out, and it seems to be playing out well. Unfortunately, it took a very long time for it to do so, but I am seeing many places where I could have added to my position, and increased my profit potential. SIRI is a monster! This one has a lot of potential, but is subject to a lot of manipulation. I think we have good things in store for us once the 3rd quarter earnings come out!
Anyway, that's all I have for now! I have some ideas for other postings, but have to decide if it's something I really want to include on my blog or not. With that said, good luck in the market!
Anyway, I am now up on my account 20% overall with my entire deposit of $13,000. That's not too shabby, but now that I am back and focusing on my trades, I bought up $12,000 worth of positions yesterday off of some setups I liked. Things are going well, and I am in the money on most of my positions at this point.
Here are my most recent trades:
ALY is a cheap stock just under $5 that has a lot of potential. My notes are on the chart which explain my reasons for getting in. Overall, the setup looks very good to me. The SMI indicator is crossing over, there is no overhead resistance, and we have a 50/200 EMA crossover. I took 500 shares, and plan to take profits at some point after we break through $5. I do not have a tentative profit target on this trade as of now.
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VMW has reached a 2 year high. My main indicator, the SMI, show that the stock is turning over from being slightly over sold. There is no overhead resistance until about $51, so we have the potential to hit a home run with this one! Things look good, and for more technical details, check out my notes on the chart.
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AET looked promising as of yesterday, but today we have a gap down. I got into this based on the chart, and things looked as if AET were very oversold. The SMI is setting up, and I believe we have potential for this one to pop, but I plan to cut it off early if it doesn't cooperate with my plan. Check out the chart for my notes!
=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-==-=-=-=
I have been holding this one for a long time, but SLM still looks good to me. I got in back in early August because we had a falling wedge pattern that formed perfectly, and the SMI indicator was setup to pop. Then, we fell back into the channel, and the falling wedge continued to develop. Things still look good on it and I love that it never really went too far against me as it came back into the channel. Originally, I was trying to buy this up just before we broke the top trend line, but then I realized that I should have been buying every time we came down close to or touched the bottom trend line. As a result, I brought my average price down, and things are looking very promising right now. I will update this one as it plays out! Check the chart out for my notes.
=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-==-=-=-=
This is a screen shot of my current holdings in my portfolio. The only trades I haven't talked about in this post include SIRI, LDK, and SYMC. LDK is the only trade that kind of hurts right now, but I am holding because if I wasn't in it already, I am seeing a setup on the daily chart that I like. As a result, I probably would be looking to buy it at this point, so I haven't take the loss on it. SYMC is closing the gap, and turning out to be a great trade. I took small size with this one because I was testing the strategy out, and it seems to be playing out well. Unfortunately, it took a very long time for it to do so, but I am seeing many places where I could have added to my position, and increased my profit potential. SIRI is a monster! This one has a lot of potential, but is subject to a lot of manipulation. I think we have good things in store for us once the 3rd quarter earnings come out!
Anyway, that's all I have for now! I have some ideas for other postings, but have to decide if it's something I really want to include on my blog or not. With that said, good luck in the market!
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