I used today's strength to enter two bearish focus list stocks today, SKF (financials) and SRS (real estate). Both are inverse shorts. Note that strong volume pattern during the price consolidation range. There is still room to pullback, so I used small position size. 300 shares SKF at $44.11 400 shares SRS at average price... Continue Reading →
I outlined my entry in APA on Friday. Today the stock is up over 3 points on a negative day for the market (as of noon eastern time). This is a good example of the power of strong support.
Lately I've received many e-mails and comments asking me why I made a trade when so-and-so indicator was divergent or not giving a buy or sell signal. This comment left by Rey is a good example:"It looks like I don't see eye to eye with you sometimes regarding going long on stocks that are about... Continue Reading →
I sold 150 shares of AAPL at $125.84 (entry at $121.75) for a $613.50 gain (+3.3%). I noted the exit in the comments section of my last post.At the close, I sold 200 shares of NOV at $116.11 (entry at $109.64) for a $1294 gain (+6.0%).Both trades were pullback plays off of extreme weakness. While... Continue Reading →
I covered my entire 800 share MS short, half yesterday at $63.05 and half today at my target, $60.10 (average entry price was $65.89). That comes out to a $3455 gain (+6.4%).I have not unloaded CROX yet, despite currenly being about 5 points down (-$2000). I've decided to use a very loose stop, just under... Continue Reading →