Today’s Trade (FWLT), Market Notes and Off-Topic

I bought 100 shares of FWLT at $129.26. This is a small feeler position and I will buy more on a pullback into the $125-126 range. To the upside, I will buy more on a break of $135. Note that this is a position trade with a longer time frame than some of my recent trades.

I am glad we finally received a day of consolidation (although many stocks I follow are still on fire, ala BHP and GRMN). Hopefully we’ll get a few more days like this, which will be great for trend-pullback plays.

This weekend I received more non-trading e-mails than usual. This is probably due to the links post and the new site design.

I’m still tinkering with the site design. By the end of the week it may look completely different. I welcome e-mails and feedback on the design.

I received and appreciated all of the tv show suggestions. It looks like I’m going to have to put some new shows on my Netflix list. As for new fall shows, tonight I’m going to sample Big Bang Theory and Chuck. Of course, I can’t wait for the new Heroes episode.

Great weekend for NFL QBs. A ton of 300 yard games. Patriots win the Super Bowl. Anybody want to bet against me?


9 thoughts on “Today’s Trade (FWLT), Market Notes and Off-Topic

Add yours

  1. Ditto on the FWLT trade. I’ve been waiting for the pullback and bought some deep in-the-money calls just before the close. Good luck with your position! -TVH


  2. For the record, I shorted FWLT today at 129.04 – I think it still has a couple more points of downside before it’s ready to rally again.We’ll see what happens tomorrow. Good luck to all.TC


  3. Critic,I’m interested in where you’ve placed your stop and target. While there very well could be some downside, with resistance at 135, I don’t see a great risk reward – unless you are setting your stop closer.TVH: I’m in your corner.Rajaram: I’ll answer your question in a post, as it’s easier to just show the chart.


  4. TC, a couple points to the downside is definitely possible. This stock has wide swings. I have a stop at $124 or the 15-SMA. But, similar to MS, I only initiated half my normal position and will double-up if it gets down to $124 and holds. Hopefully for MS and I, last week’s gap has been filled and the stock heads up shortly! Good luck. -TVH


  5. FWLT: Entry 129.04, stop at 132.6, target in the 125-126 range. It’s definitely the type of trade where all of us can make money. Good luck.GRMN worked out just like I had planned. I shorted it around 108.8 (Sep 19) and covered around 105.8 (Sep 20)CROX I traded twice recently. First time, I got in at 57.46 (Sep 13), covered at 54.6 (Sep 18). Second time I shorted it on Thu last week when it didn’t rally with the market and got knocked out yesterday at 58.15 with a loss.Obviously, I would not short GRMN and CROX at this point.TC


  6. Nice trade, TC! Hopefully everyone makes money. I put a limit order to buy more calls but did not get filled this morning. -TVH


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