Sunday’s Personal Trading Journal in Preperation For Monday

Here is exactly what I wrote in my personal trading journal today.

March 20, 2007

Overview of last trade:
500 IBN @ $47.64 on 5-18-07.

Breakout over 4 month resistance level on strong volume and accumulating stock. Cause for concern is that new highs are formed with slightly lower RSI and parobilic 6 point move prior to new high breakout. I will place stop at breakout point ($45).

Market and Sector Notes:

Look for pullback in energy. Currently overbought. The sector has been a buy on any dip for the past few months.

Many steel stocks are close close to good buypoints but may want a little more pullback.

Indices are all extended and on or near new highs. Expect a hard correction that could happen at any time, and be prepared. Until then, continue to play the long side.

Self-analysis:
I need to continue to honor my stops and not be so quick to pull out of a trade. I’ve been tempted of late to chase some hot sectors, like energy. I need to keep my cool and wait for a pullback.

Watchlist:

bo-pb that are ready now

SYNL, 39.61

ZEUS: 32.58

JADE: 11.81

ZOLT: 34.58

NTGR: 34.48

GMRK: 51.75

Breakout-Pullback

JRCC, 13.68: bo, bowl pattern, pb 12.50

BTU: pb 51.50-52

MEDX: pb 15 or bo 16.20

EFD: pb 30-31

BRP, 58.91: pb 55-56 Telecom Brazil

TMX, 38.83: pb 37 Telecom Mexico

MPRW, 17.69: pb 16.50 Semi

NTG, 42.21: pb 41 Energy, Drilling

NM, 10.30: pb 9.50 Shipping

TVL, 18.88, pb 17.50

FDG, 28.65: pb 27.25

MIR, 47.32: pb 46

DK, 23.48: pb 22

CTRP, 79.48: pb 75-76

TWI, 31.58: pb 30

DDS: pb 36-36.50

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