Wednesday, October 12, 2011

Back in the saddle

Nice start to earnings season. Here are all the trades I placed today, which are all green and that is very rare for me:

(Notes: The AKS was a swing trade sell, you can see the buy dates on the trades. I bought some more OVTI today and when I sold it the program used my first buy as my entry. My daytrade was a +.20 and not the +.67 it is showing, my cost basis for what I am still holding is 16.21 as I mentioned in the last post. I will likely hard stop at b/e on this, taking too long for my taste even though it is slowly working).

The WHR trade was nice. I was already comfortable in ASML when Brad on the squwak called out WHR spiking on Buffet news. So I quickly took it at the break of highs after the initial spike at 57.47 and just trailed my stop up each minute bar, fast money.

Here is a marked up chart of my ASML trade:

Tuesday, October 11, 2011

Better action

Some babble off the top of my head about what is going on now: Game on! Market is trading a bit more predictably and solidly, so trading long for the short and intermediate term looking good. Now is the time to start building. Hard to say whether the market will just keep running away or will provide some pullbacks. Pullbacks should bounce, not lay around. The lows should not be breached. Technically the market is still in a range, but it has a different 'feel' to me, so I think we at least will break out of the top, giving some time to for strong stocks and high probability patterns to work on a swing time frame.

I did not call out these trades from the last week in real time as I have been sporadically trading, but I am in AKS, WFT, and OVTI. The OVTI I added at 16.21, so it is still buyable here, I may add to it tomorrow if the market is strong. I like the flag, but it needs to breakout in the next day or so. I will dump it below 16.

I am back in the seat full time now for earnings season.

Saturday, October 1, 2011

Nothing doing

It was a good time to go on vacation. I put on some swings, checked in once or twice a day, made a few, lost a few, just staying warm. Nothing has changed so there is no real edge here, the tide is slack, the game is on time out. I will keep taking a few shots to stay warm, and if they start working I will slowly start to add.

Really, nothing has changed in weeks now. I am sure there are some people killing it in here, I will continue to study and see if I can find what works in this sort of environment, as what is 'now' tends to stay 'now' for longer than people prefer. This lost decade could turn into two, so we could have lots of this sort of action in the future. Follow the cheese.

For now, patience. If nothing else then have to wait for earnings season and see if the independent intraday movers and gappers can trade well.