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Trade Results: March 2009
I am making an effor to get caught up on my trade results. The last results post was from February 17-March 16. To get back on a regular monthly schedule, this post completed March 2009. March 17-31 Total Profit= $1921 Total Wins= $2776Total Losses= $855 Total Trades= 6Total Wins= 4Total…
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One That Got Away: IBN
A useful tool for improving trading is to analyze trades that you did not take. IBN has been on my radar for since the April breakout. I did not trade it because the volume pattern was not to my liking. However, the risk ratios have been good through out that…
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4 Stocks For Tuesday
Here are the four stocks I am looking to enter on pullback Tuesday.
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Trades: BKE and RL
I used morning strength to short two stocks from last night’s focus list: BKE and RL. See charts from the last post to see setup.
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Game Plan For Monday
Here is my detailed plan for Monday and the coming week, as sent to subscribers in today’s Trade Report: May 18, 2009 Market Notes: The market has pulled back close to the entry point we’ve been watching (87-88). The pullback is not ideal, as price has not pulled back in…
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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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Thinking Out Loud (both on and off topic)
1. The overall market looks good, but resistance is looming. 2. A few more points down and I will start letting go of my short positions (already got rid of RTP). 3. I will likely enter SPY around $87-88 4. Most stocks are pulling back with bullish undertones (low volume,…
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SPY Adjustment
I originally was looking to enter SPY short as close to $95 as possible, but today’s “bearish engulfing” pattern leads me to believe we will pullback before that level is reached. I took a partial position today in SDS at the close (inverse short).
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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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Taking Partial Profits
I took partial profits in my NTRS short ($54.02) and SDS ($64.50). I have moved my stop up to entry for the remainder of the positions.
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Position Update
Today I exited my SPY position for a $1748 gain and have taken two bearish positions. I entered 400 shares SDS at $61.85 (currently $63.68). This is a leveraged short position. I shorted 400 shares NTRS at $57.03 (currently $54.36). I detailed this setup in last night’s report. I was…
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Short Setup: NTRS
I went short NTRS this morning. The stock has broke down below support, pulled back and shows a negative volume pattern.
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Trade Update: SPY
I exited half my SPY postion at $88.05 (entry at $84.03). I am still holding 200 shares.
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Focus List Stock: AMZN
I currently only have one position (SPY at $84.03). I’m patiently waiting to add positions on a dip to support. One of my favorites is Amazon, which is consolidating after a monster run and breakout. I’m looking to enter on a pullback to the $80-81 range.
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Spy Chart
I currently have only one positions (SPY at $84.03). The chart below show looming resistance levels, which correspond with my targets.
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Monday’s Game Plan
Here is the report I have sent to subscribers laying out my plan for Monday: Market Notes: Let’s go over the state of the market on different time frames. The long term trend is bearish. We are still in a bear market. While I have not posted a long term chart,…