Category: Uncategorized
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Follow Me On Twitter
I am now going to start posting market thoughts and trades on twitter when I don’t have time to post to the site. See the sidebar to the right.
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Partial Profits in SDS
I took partial profits in SDS at $60.22. I’ve been unwinding my shorts that were based on a market pullback and looking for longs to setup in the coming days.
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7 New Additions to the Focus List
Here are the new additions to my focus list. All require pullbacks.
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Monday Short
While I am still bullish on the market, I am looking to short on a very short term time frame. The market is overbought and nearing resistance. I will only short strength that moves strong to the February highs.
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Correcton: Overbought Market
In the previous post I said the market is oversold. Obviously I meant it is overbought. Thanks to those who commented and e-mailed me.
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USD
One of my favorite bottom plays going into yesterday’s bounce was USD (semiconductor ETF). While I am still holding a partial positions, it’s now moved right into resistance. I may add to it on a pullback.
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Update
For those wondering why I haven’t posted much lately, I’ve been ill and have spent little time on the computer. I am holding SSO and GOOG, was recently stopped out of MOS and took profits in USO.
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Elite Traders Are Not Afraid to Fail
I have started group and private chats with subscribers, and one thing that keeps coming up is how afraid many are of taking small losses. This makes them gun shy when a low risk trade is there for the taking. Here is a previous post that encapsulated my thoughts on…
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Trade Review and Video
I am working on my trade review and results and hope to have them posted some time tomorrow. Trade Report members should expect a video tomorrow, along with the Trade Report.
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New Feature: Trade Stats and Review
I plan to do a better job this year of posting stats of the trades that I post here and, more importantly, review the trades post trade. Check back tonight or tomorrow morning.
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Craziest E-Mail of 2009
I receive a lot of e-mails from an outstanding group of readers and subscribers. My readers range from those who are just starting out and yearning to learn, to experience hedge fund managers. I have not only taught a lot, but have learned much from my readers. However, every once…
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Today’s Trade: CSX
I went short 200 shares CSX at $36.48. Setup: Overbought Bounce Nearing Resistance (anybody have a better name?). Stochacastic readings have reached extreme levels. The stock is nearing price and moving average resistance. This is a short term trade. I’ll exit when either my stop or target is hit. Risk:…
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Trade Update: FAZ
I added to my FAZ position, 100 shares at $33.75. Even with the two entries, it’s still a small position. My normal position size would be 500 to 750 shares. The current position is 200 shares. If the market gets more overbought next week, I’ll start to get more aggressive.
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Oil (USO) Entry
USO is very oversold. Price went down almost continuously from 40 to 28 and seems to be stabilizing here. I may take a small position on weakness. I already have an intermediate term holding in DXO.