I got in late to the game but will start a thread and try to update with my trades. Im doing a short term swing trade strategy. I will hold a stock from 1 day to 3 months on average. Im not using margin will be using a cash account and the timing of settlement will also influence how im trading.
Ok first trade today:
BOUGHT 1000shrs AMD at 31.204 $31,204.00
4/18 12:36:46 PM
Plan for trade:
Will hold between 5%-15% gain. Max pain (-7%)
AMD looking good up over 2%. Looks like I may sell tomorrow or friday, unless news comes out that shows a good chance for gain otherwise.
SOLD 1000shrs AMD at 31.80 $31,802
4/20 10:32:02 AM
Profit 1.9%, +$584 after comm
Total Account Value: $38,950
Trade plan changed because AMD wasnt rebounding as well as I thought. AMD seemed to be getting pushed up only by the market. It was sold today because Friday doesnt look promising for the market and I was afraid of a Friday sell off.
BOUGHT 1000shrs ESLR at 14.84 $14,840
4/20 1:11:44 PM
Was a solar sell off today, im going to go do the opposite and pick up on some cheap shares. ESLR earnings next wednesday 4/26 at 10am eastern... This tells me there is something good to say to release earnings after market open at 10am in the morning.
Looking for a 5-20% Gain
Max Pain (-7%) :-*
ESLR flat today so far... fighting tough resistance at 14.90 I have a feeling though we will soon see a break thru on the resistance and some potential upside for the close.
Some intresting info from short squeeze...
Short % of Float: 23.82 %
Shares Short: 12,657,833
If there is a good rally I expect there will be a good amount of shorts covering shooting up the price higher.
EDIT: BOUGHT 1000shrs at 15.049
4/21 3:41:02 PM
Just doubled position looking to sell sometime next week.
Profit target 15.60-16.00, Earnings wednesday at 10am.
Down little over -1% on ESLR today, there is a good chance of recovering and back to green today. On another note looking back on my AMD trade I might of pulled the trigger little early; it seemed to pull thru and break 32s. It may hit my 5% gain target but thats alright its good to look back and learn not to dwell on a trade.
UPDATE
ESLR closed at 15.11 on low volume, down slightly from fridays 5.15 close. Currently up little over 1% on my position. Watching closely earnings are 2 days away.
SOLD 2000shrs ESLR at 15.8501
4/25 9:33:16 AM
Profit: 6.1%
Overall account Value: $40,747.77
Postion was sold today, reason for selling was profit target was met in the morning with a gap up. This trade was easy to complete with the gap up pushing me past my profit target and predicting the gap up would get knocked down. Tomorrow's earnings also played a roll with pulling the trigger on this trade. Knowing how the market loves to sell off during earnings, I felt that since the profit target was met its time to take the profit.
BOUGHT 240shrs FDG at avg. 37.83
1:07:26 PM to 1:07:37 PM
Plan for trade:
Profit target 4-7% gain 8)
Max Pain (-7%) >:(
Thoughts about trade:
Coal sector had a small sell off today, FDG had a sell off on earnings news released yesterday. I bought in the 37.80s, I believe I pulled the trigger a little to soon and should of looked over for a better entry in the 37.60s-37.70s. However im pretty confident by next monday I should be at or close to the profit target. Lots of support in the 36s and resistance at 39 can be broken easily I believe.
Stocks on my watch list:
AUY, BNI, HOM, and TIE
May enter one of those in the next few days.
BOUGHT 340shrs BNI at 81.45
4/25 03:45:06 PM
Plan for trade:
Profit target 3-5%
Max pain (-7%)
Thoughts about trade:
BNI was oversold I believe on earnings news that beat expectations. The market is wrong on this one! Looking for a quick bounce in the next 5 trading days.
My other trade FDG didnt recover as much as I would of liked. Little over -1% on this one will watch closely still think has potential to get some decent gains
Im up on BNI little over 1.5%, BNI looking good to continue gain. Down on FDG over -2%, I might sell for a loss if it doesnt turn around.
HOM is looking good soon for entry which I have been watching closely.
UPDATE:
BNI closed at 82.32 up 1.02% looking to hold this till about 3-5% gain
FDG on the other hand looks like I caught a falling knife closed at 36.22 at the low of the day :(. Down -4.5% about on FDG. Looks like tomorrow im going to sell around 36.00-36.10 if it decides to go that low.
SOLD 240shrs FDG at 36.00
4/27 9:40:06 AM
LOSS: 5.1% -$459 after comm
Total Account Value: $40,152.12
Thoughts about trade:
I caught a falling knife with FDG, I made a mistake of jumping in to soon. FDG pierced was about to pierce 36.00 so I decided to sell, the support through 36.00s was broken with ease the last few days.
On another note still holding BNI till profit target or loss target
UPDATE:
Bad luck so far today got stomped out of FDG at 36.00 and looks like FDG has rebounded. BNI tanked below the 50DMA today and is currently down -4%. Im down about -3% so far on this trade. Holding BNI tight hoping tomorrow is looking better.
BNI closed at 79.53 up 1.52%,, chart looks like it may be on the rebound. Down about -2.4% on this trade but looks like I will be in green soon.
Nullzero, applaud.. good approach ;)
But I don't like catching a falling knife,
I'd rather short this stock than go Long.
Yeah I jumped in BNI to early.. I was bullish on railroads and looking for a pullback, looked like a good 50/50 chance I could get a quick gain. Im going to see what happens to BNI on monday, I will get out of BNI on monday if it goes below the gain made on friday. Thanks Terlisa for your comments, im relatively new to trading and still learning the ropes. Looking fowards to future comments and views from you and others on the boards.
If I may be so bold as to criticize, I think you're swing trades are based purely on T/A and not enough on F/A... In combination a swing trade can be explosive and from I've seen your setups have been moderate for a very short term basis as so have your trades... Find those Really good stories of a stock beaten down for a no good reason such as simply waiting for news.... One such company is Medicure, MPH on the tse or MCU on Amex. This company is definitely going to anounce a Partnership in the next 4 months and it is likely to be sooner than later as they want the partnership secured prior to starting their Phase3 trials on both their lead drugs MC-1 and MC-4232... Don't be in a hurry to make a good/great trade. Don't rush the profits. Spend a week without trades on the books and simply do research. When you find the right one the profits will come. MPH will hit $2.30 in the next 3 weeks for a minimum 11% after commissions just based on the story below. Just be patient and then move on to the next great story...
Results at the 21st Annual Meeting of the American Society of Hypertension
4/10/2006
WINNIPEG, MANITOBA, Apr 10, 2006 (CCNMatthews via COMTEX News Network) --
Medicure Inc. (TSX:MPH)(AMEX:MCU), a cardiovascular drug discovery and development company, today announced that two posters outlining the positive results of the Phase II MATCHED study with MC-4232 have been accepted for presentation at ASH 2006. The American Society of Hypertension (ASH) Annual Scientific Meeting and Exposition is being held in New York at the New York City Hilton Hotel from May 16-20, 2006. ASH is the largest U.S. organization dedicated exclusively to hypertension and related cardiovascular disease.
"We look forward to presenting the MATCHED clinical results at this important scientific forum," stated Dr. Lacourciere, MD, FRCP, FACP and Principal Investigator of the MATCHED study. "The opportunity to present the results validates the importance of the study's findings and the expanding need for new approaches to treat patients with diabetes and hypertension."
"This is an ideal setting for our first formal presentation of the MATCHED clinical results," commented Medicure's President and CEO, Albert D. Friesen, PhD. "Patients with coexisting diabetes and hypertension, like those studied in MATCHED, are extremely difficult to treat and frequently require multiple drugs to control their cardiovascular and metabolic risk factors. MC-4232, as demonstrated in MATCHED, is currently one of the only drugs in development that addresses both cardiovascular and metabolic risk factors in this difficult to treat patient population."
Dr. Lacourciere, Director of the Hypertension Research Unit, Centre Hospitalier de l'Universite Laval Sainte-Foy, Quebec will present the two posters describing the antihypertensive and metabolic effects of MC-4232. The abstract titled "Evaluation of the Antihypertensive Effects of MC-1 Alone and in Combination with Lisinopril on Ambulatory BP in Hypertensive Patients with Type 2 Diabetes Mellitus" will be presented at 8:30 AM EST on May 17, 2006. The second abstract titled "The Combination of MC-1 and Lisinopril Has Beneficial Effects on Carbohydrate and Lipid Metabolism in Hypertensives with Type 2 Diabetes Mellitus" will be presented at 4:00 PM EST on May 16, 2006.
Fact is I've spent Hundreds of hours researching this (my favorite) company and will make a fortune on it as it's products complete PH3 and make it to market. But when the Pharmaceutical Partnership is announced this stock will easily vault 75% from wherever it's sitting price wise.
BNI off to a good start today up over 1%, so far so good today :).
UPDATE:
BNI closed slightly up today close at 79.70 up .21%, plan is still to keep the course and continue to hold till 3%-5% profit target.
SOLD 340shrs BNI at avg of 78.02.
LOSS: -4.44% -$1187 after comm
total account value: $39,122.57
Thoughts about trade:
Patience is a virtue.... I jumped in to soon to a falling knife. My ignorance of thinking that the market was the wrong one, the market is always right and the one controlling the direction of the stock. The trend is your friend, and in BNI's case the trend is bearish and broke the 50DMA where I should of set a sell limit at. Learn from your mistakes like they say and I have learned alot off the last 2 trades, im still slighty ahead with the AMD and ESLR trades. Now time to find the next good stock or stocks to enter.
BOUGHT 700shrs TOMO at 27.91 avg
5/3 9:30:50 AM
Plan for trade:
Profit target: 5-10%
Max Pain: (-7%)
Thoughts about trade:
TOMO rebounded nicely 2 days ago off support in the 25s with good volume. 5dma is still under the 20dma about to cross above. RSI rebounded nicely from the high 40s and is now 61. Only a little resistance at 28s after that its free skies and new 52wk highs. Earnings due 5/10 it looks like we got a good chance to reach 30 before then.
UPDATE:
Bought another 700shrs of TOMO at 27.69
After averaged down slightly, just about at break even on TOMO, 27.80 is my avg. So far so good still holding. TOMO looking good for a close at hod.
TOMO earnings will be released tomorrow, trading today has been relatively flat. I will be holding thru earnings unless a push past 28.50 happens today in which case I will sell 50% of my TOMO. Missed out on some good trades with HOM, AUY, and GV. Will be watching those stocks and others closely for entries.
Off to a bad start :(,
SOLD 1400shrs of TOMO at 24.90
LOSS: -10% -$4046 after comm
total account value: $35,037.52
Going to sit out of the market for at least a week and re evalute my plan. Looking at using 25% of my account on each trade holding between 3-4 stocks. Still learning nothing like learning from your mistakes ;).
Hi nullzero
Notice on a post you said you are still learning. Some good advise,, don't start out with such a large amount of money till you learn. Not trying to tell you what you should do but playing the stocks is really a hard thing to learn and even though this site has some of the best TA analysis I think you'll be able to find it is still something that to get ahead in it must be learned from an investor's willing to learn how to find good stock's to play.
Some adviser's say to start out with an amount of money that you can afford to lose because when you first start you will lose untill you get good enough to start winning. Then when you get to where you can pick out winners then you can use you're own TA along with other's to try and find good stocks that might become winner's.
I hope you the best of luck while learning and think you'll find 3SOF an excellant learning center. :)
Bad luck Null, I read your thread from time to time keep it up. One f the things I have noticed is when you buy you have a profit target and a loss target (which is fine) but they always seem to be a similar number e.g. both 5%, or even worse the loss target % bigger than the profit target %. This sets you up to lose, because unless you have a fantastic win to loss ratio (which you will not, no one does really) your losses will always counter your wins and you'll tread water at best and eat into capital for sure at worst.
If I were you I would do the following:
1) Never let any position put at risk more than maximum 2% of your total trading portfolio (not the position size but the potential loss based on your stop)
2) Only have a maximum of 5% of your trading portfolio at risk at any one time. Again loss size not position size.
3) Don't average down.
Good Luck
Thx for the replies, yeah only reason I had so much money in was from gains I made from stocks I start out with 14k about 8 months ago and have made over 30k.... Guess you can call it starting luck but actually was able to sucessefully swing a couple stocks like HOM, AOB, TIE, and a few others. I shouldnt had averaged down and have made the same mistake before a couple times in the past like BCON. I have been doing 1-2 stocks all or nothing with the previous strategy since I started. I believe I should start being more conservative since I have already doubled my money from the starting sum. Thankyou guys for your replies and helpful information im looking foward to future ones.
With 35k I would suggest buying in a series of 2-3 10k buys.... you will have a MUCH better chance at a green position....especially with stocks you are trying to "buy at bottom"
JMHO
cal >:D
Yeah I was thinking about trading in 10k 25-30% into 1 stock. I like swing trading and bottom fishing more then other styles of trading. Thanks calven and others for your replies im going to review the way I trade for the next week. Somethings I think im considering for the new guidelines of trading....
*Stay away from overbought stocks
*Considering 3-4 stocks 25-33% of account value.
*Have one stock at a time in each industry (Solar stocks, Chinese stocks, Railroads, etc)
*Stick to gain and loss targets more firmly -7% loss must have a stop in place.
*Deciding what price range and cap stocks I should mainly trade... (5-10), (10-15), (15-30), (30-60)
*Considering opening up a margin account for the option to short, I dont want to wager money thats not mine. Im considering this only for the reason of being able to settle the cash faster and the ability to short in the future.
*Sit on the side line longer and wait for a good oppertunity
*Resist the temptation of gambler fever.... I have to much of the all or nothing mentality I must be more conservative and take time on trades.
Thats a short list of what I think I need to do to make my money grow. I look foward to your responses thanks for taking the time to post guys.
stocks on watch list HOM, AUY, AMD, ESLR, DIL, and STKL
UPDATE:
AUY
Looks like a good buy if it drops to 11.00-11.25
HOM
Going to see how tomorrow is, sell off today with the market
10.50-11.10 I may add if it drops lower.
ESLR
12.50-13.10 would consider adding, tomorrow might be a good day to buy.
RSI 14 is at 39 should rebound soon
AMD
Support in the 30.00-31.00 area if it bounces from there would be a good time to buy
STKL
buy when I can :P
Hey nullzero.. congrats on your nice debut!! I wish I could double my modest portfolio in 8 months..
thanks livana, im going to take a slightly more conservative approach :).
Well I upgraded to a margin account today. I couldnt help the temptation of sitting out I saw bargain prices for HOM and AUY.
Bought 1000shrs of HOM
Bought 900shrs of AUY
will update later with info
UPDATE: Did a little day trading/scalping today with the margin account and made about a 300dollar gain after comm. did alot of transactions today so wont get detailed will just give avg. bought and account value. ::) I have serious gamblers mentality but I know when to take the gains and working on selling when im at a loss.
BOUGHT 2000shrs HOM at 10.37 avg.
SOLD 2000shrs HOM at 10.28 avg.
LOSS: about -1%
BOUGHT 3800shrs AOB at 5.67 avg.
SOLD 3800shrs AOB at 5.75 avg.
GAIN: about 1.3%
BOUGHT 900shrs AUY at 11.24 avg.
SOLD 900shrs AUY at 11.32 avg.
GAIN: about .80%
SOLD SHORT 2000shrs ESLR at 12.60 avg.
BOUGHT TO COVER 2000shrs at 12.54 avg.
GAIN: about .60%
Total Account Value: $35,380.59
just about a 1% gain from $35,037.52
Numbers might not be totally accurate just an idea of what my loss or gain was. Did decent I think on big down day. Was a very voltile today for the market and believe I overtraded today. Was a blast though 8) good learning experience of trading under pressure several positions with a limited amount of time. All positions were opened and closed today. I rather hold a 1-3 stocks for a period of 3days to 1 month... much less stress
Feel free to comment on my posts give your ideas, opinions, criticisms, congrats, or whatever. I like the quotes "Live and Learn" and "Learn from your mistakes" <--- this is the best way to learn for me lol ;D. Hopefully in the next couple of years I can improve my trading and stock skills to the point of making a great return consistantly.
Ok im working on a new plan for trading so far I decided
*trading upto 3-4 stocks at a time 25% or 33% of profolio
*holding stocks between 1 day to 3months
*looking for potential long positions with 2-3 stocks and a potential short on 1 stock
*will keep this plan until account holdings increase to 50k (if and when this is reached, I will then start trading upto 5 stocks, breakdown would be 3-4 Long 1-2 short)
*will try to avoid trading more then one stock at a time in each sector ex. BNI and RAIL are both railroad stocks therefore I will aim to invest in one at a time. (Execept for certain exceptions in booming sectors)
*if and when 100k is reached my plan is to hold 7 stocks
*will keep my -7% loss max in place (must follow this firmly :-\ )
*still figuring out when to take profits Im thinking after 5% gain setting a tight stop slightly below the 5% gain and letting profits ride upto 25%. Taking the profit anywhere between 5% and 25% depending on current stock movement and events.
*last and most important sticking to plan :)
I traded OTCBB before and got burned. I tend to shy away from them... The upside and downside is to extreme. Knowing how I am I would probley would cut the profits to soon and not the losses. I think I could probley keep up a good year 40-100% gain like that with 3-4 stocks on the amex, nyse, and nasdaq. If I could average about 5% gain a week would be cooking ;). Figure out of the 4 stocks trading stock #1 is a loss of -7% assuming its about 30% of my account at 10k would loose -2.1% of account value which would be about $700. Now figuring I found 1 bad stocks and 2 good stocks would be down $700 but up on the other 2 over $1000, 2/3 wins I think that ratio could be kept up. Figuring I would take gains anywhere from 5% to 25% on avg. lets say I get 15% gain. So would take .15 x .60= 9% for gain total in account subtracting -2.1% we would get 6.9% figuring I could probley get this in 2 weeks-3 weeks on average... divide 6.9% by 3=2.3% gain per week lets say there is 50 trading weeks times 2.3%= 115% for the year..... not bad if everything goes to plan :). Adding comm. in It would be closer to 110% after taxes 77%. These are just guesses though but im sure it would be something close to this.
*Going to aim to buy 1500shrs of IMOS tomorrow, will watch chart and possibly wait till an hour or two to buy in. Im aiming to pick up shares at 7.40 but if it looks like its going beneath support at 7.30 im going to buy in lower. My stop loss for IMOS will be at 6.95.
*Decided not to touch CRUS it might go lower.
*AOB looks good I think its going to run over 6, going to buy AOB in the morning. Stop loss -7% from entry. If AOB shoots above 6 and im up over 5% I will take a gain between 6 and 7.50
*DHI looks good for a short might have a break down soon. Home building and mortages dont look good the bubble is just about to burst for housing. Will enter position to short DHI tomorrow, if gaps up tomorrow will enter imediately. Currently at 29.05 will aim to short 400shrs at open or in the 29.00 range. Will set my stop loss at 30.10..... profit target 5-20%.
summary China stocks bullish.... Home Builder stocks bearish
Hey Null, I like the look of your DHI short. Risk reward there is very good.
Good Luck
SOLD SHORT 400shrs DHI at 28.90
BOUGHT 1800shrs AOB at 5.71
BOUGHT 1400shrs IMOS at 7.39
so far stocks havent moved much up slightly on AOB neutral on DHI and down slightly on IMOS
UPDATE:
Aussie DHI looks great on short :) im already looking good from my 28.90 entry to short. Best thing about DHI is it doesnt have hardly any short % of float its near 1%.... Its a bunch of bag holders selling thats leading it down. I compared it to TOL CTX and the others DHI looked like the best of the bunch double top with strong resistance at 30.
SOLD 1800shrs AOB at 6.00
Gain: 5% profit target was met
Sold AOB due to strong resistance at 6-6.06 and general market conditions going bad.
DHI short is doing good up over 2%
IMOS is not doing so hot down -4%
UPDATE:
BUY TO COVER 400shrs DHI at 28.33
Gain: 2% gain profit target was not met
Still getting the feel for shorting I took the gain early afraid of a slight pop up and making no gain. Will take experience and time to profit nicely from shorting.
Believe I cut my profit to soon on AOB, afternoon rally took it back up to over 6 and close at 6.22. Was being to conservative once 5% gain was obtained I sold out. Missed out an a additional 5% if I sold near the close. Overall a 4% gain was obtained today pretty good considering this voltile up and down day.
IMOS had a nice slight run up near the close but wasnt enough to push it near green. Close at 7.13 hoping for a better day on tuesday. Down a little over -3.5% on IMOS
......
BOUGHT 1000shrs HOM at 11.00 AH
BOUGH 1000shrs HOM at 11.84 AH
Got 2000 now in HOM.... HOM at 12.35 currently in AH
Reported blow out earnings just released going to ride HOM until momentum slows down.
......
SOLD 1000shrs HOM at 12.26 AH
HOLDING 1000shrs for tomorrow will look to pick up more Shares if there is a dip in the morning
538k traded AH... Account value around 37k right now so I recovered from the TOMO loss pretty well. Now only if IMOS will rally up soon. Tomorrow expecting busy trading day on HOM going to be ontop of it.
Im looking at a potential third stock possibly a short tomorrow maybe a long stock like AOB or GV.
Hey Null, congrats on picking up and profiting on HOM after hours.
I think you may have too much of an itchy trigger finger on the likes of AOB and DHI though.
Going to re short DHI possibly after today I want to see where its going to trade. I think I can get in higher then 28.70 to short. * I agree with you aussie I pulled trigger to soon on the DHI short however was able to get back in AOB today at 6.00.
UPDATE:
BOUGHT 1000shrs HOM at 12.28
SOLD 2000shrs HOM at 12.33
get back to me on the % gain on HOM trades :P
UPDATE:
Adding and avging all HOM trades got the following,
BOUGHT 3000shrs of HOM at 11.706 Avg.
SOLD 3000shrs of HOM at 12.295 avg.
Gain: about 5%
BOUGHT 5400shrs GV at 1.99
SOLD 5400shrs GV at 2.025 AVG.
Gain: about 2%
BOUGHT 1700shrs AOB at 5.999
Profit target: 5% or more
SOLD SHORT 400shrs DHI at 27.97
Profit target: 3-5%
***Open Positions***
SHORT 400shrs DHI at 27.97
up about +.90% on this trade
LONG 1700shrs AOB at 5.999
down about -1.6%
LONG 1500shrs IMOS at 7.39
down about -4%
Total Account Value: 37,549.48
Looking good ;), Had a bump in the road due to some bad trading last month my all time high was at about $40,600. Im looking to crush it in the next 30 days.
Planning to short CA tomorrow in the morning aiming to get in at low 23.00s... or if it starts dropping entering in at the high 22.00s. Plan may change if depending on market etc.
Plan:
SELL SHORT 450shrs CA at 22.50-23.60
Gain: 5%-10% in the 20.00-21.00
Max Pain: -5% or must cover at 23.60 if goes above.
SOLD SHORT 450shrs CA at 22.49
STOP LOSS at 23.60
Profit Target: 5% or more
Max Loss: -5%
Pulled trigger to early should of waited 10-15 mins before entering could of shorted in the high 22.00s. The market is acting extremely bearish down over 70 points, should be in the green on this trade soon.
UPDATE:
Should sell AOB right now its at the -7% mark.... Im hesistant to give my shares away, considering the market is so bad I dont want to sell out on a strong fundamental company thats getting hit by the market.
*** Went against my plan of -7% stop loss on both AOB and IMOS... Fundamentals were to good to dump. Chinese stocks should be on the bullish side if the market goes into full bear mode. Currently down -5% on AOB and down little over -9% on IMOS... if 6.70-73 support doesnt hold im going to be have to sell at 6.70-6.73. Up over 3% on the DHI short and slightly down on CA short by less then -.50%
SOLD 1500shrs IMOS at 5.51
LOSS: -13%
Was my own fault I let it get to 13% loss. I broke my own rule.
Account Value: $36.536.85
UPDATE:
SHORT SELL 300shrs FITB at 38.17
STOP LOSS: -4% at 39.6
Profit target: 6%-20%
Will update stop loss on the way down. Im now holding 3 shorts and 1 long.
Got rocked with IMOS loss... AOB still down. All my shorts I am up by a at least 1% gain or more.
SELL SHORT 400shrs DHI at 28.25
Profit Target: 5% or more
Stop Loss at 29.25
Have a total of 800shrs short on DHI avg. at 28.11 Profit target updated to 5% or more.
****OPEN POSITIONS****
LONG 1700shrs AOB
SELL SHORT 450shrs CA
SELL SHORT 800shrs DHI
SELL SHORT 300shrs FITB
Account Value: $36,709.50
Most of my account is now short and will be that way until market shows signs of going up again.
SOLD 1700shrs AOB at 5.555 avg.
Loss: -7.8%
I wasnt going to break my -7% rule again after the market showed signs of going red I sold out.
****OPEN TRADES****
SELL SHORT 2000shrs GIGM at 9.505 avg.
SELL SHORT 800shrs DHI (up currently on this trade by a couple %) 5-15% profit
SELL SHORT 300shrs FITB (down on this trade by less then a %) Looking for 5-15% profit
SELL SHORT 450shrs CA (up on this trade a couple %) Looking for 5%-15% profit
BOUGHT TO COVER 2000shrs GIGM at 8.90 avg.
Profit: about +7%
BOUGHT 1000shrs HOM at 11.96
Profit target: 7%-25%
UPDATE:
BOUGHT 1000shrs HOM at 11.96
SOLD 2000shrs HOM at 13.94 avg.
PROFIT: +16%
I got lucky with the timing of HOM trade... market was down and hurricane hype was just starting got in at 11.96 and rode it to 16% from yesterday.
Total Account Value: $41,094.59
All my open short positions slightly rose up today not by much though.
BOUGHT 2000shrs XING at 8.40
PROFIT TARGET: 5-20%
STOP LOSS: about -6% at 7.95
Chart looks good on XING MACD recovering, RSI bottomed and rising to 50, 5DMA bottoming and rising to 20DMA. 8.80-10.20 looks like a good profit taking range.
SOLD 2000shrs XING at 8.01
LOSS: -5%
Market turned negative and closed down -26 points.. Unfortunately I timed this trade at almost the HOD and was horrible on my part I thought it could rally close to the 50DMA today and if market was doing well. Closed this position..... Im hearing that the dow is going to break thru 11,000. I dont want to hold any long positions unless there worthy to survive the hurricane (HOM)
BOUGHT 1500shrs HOM at 13.27
STOP LOSS: -7%
Profit Target: 5-15% (13.90-15.50)
Total Account Value: $40,567.67
Total Account Value:
Nullzero,
I noticed that you trade a lot, that must be exhausting... :o
Quoted from the book "The Amazing life of Jesse Livermore"[/color]
The big money is made by "the sitting - not the thinking." Once a position is taken the hardest thing to do is to be patient and wait for the move to play out. The temptation is strong to take fast profit or cover your trade solely out of fear of losing the profit on a correction. This error has cost millions of speculators millions of dollars. Be sure you have a good clear reason to enter a trade and be sure you have a good clear reason to close your position. It is the big swing that makes the big money for you.
yeah im over trading a little to much :-\ comm eats my eats at my profits. Im working on trading less and tuning up the way I trade and manage my money.
Howdie Nulz Where you at on this quest?
Terliso liked your quote... we all sold TNEN too early, My only reason to sell was to secure profits, which i could of doubled in another 5 sessions... when will this one correct? and would it be a wise buy then... was it Ramsberg who said use em and toss em... i have been burned several times by re-entering one that previously did well for me... hom/hsoa
Keep up the great posts folks. I am currently in ISV 1.80 and GST 2.92 hopefully each is consolodating for next leg up
cheers Joe
I got burned by HOM to :(. I wouldnt chase any stock period there is thousands of other stocks to trade and plenty of oppertunity. Currently I have been stuck in a rut with this portfolio been hanging around the 29-30k area lost 8k with the market downturn a while back and havent been able to recover yet.
Currently holding these stocks
Short PHM DOWN -5.20%
Short AAPL DOWN -6.96%
Short CLB DOWN -1.57%
Long CCJ UP +4.12%
I closed several profitable trades recently. (L) MPW, (S) BRCD, (L) NBG, (S) KOMG, (S) TOA, (S) LYO, (S) TARR, (S) CTCI, and couple others in the last 2 months.
Yooo Nulz
thanx for the reply, I to am down about 10k from the June slump, despite a majority of positive trades this summer, mostly on the short side. I have stubbornly held onto a bag of Bio-pharms that are killing me GNBT, NVAX, and GNTA, (also losing on GZFX, IVAN, VYST, NMKT, Winners are JADE, FRG, ftgx)
HOSA i unloaded 2/3 at 5.5 with a 40% loss and will sell the last if it breaks 4.9 support on a close which looks iminant :-\
PHM has been good to me on the short side, currently out waiting for it to hit 31-32, these home builders have been hit hard and i see a recovery before more bleeding (check out CHCI, wish i had averaged down at 4) I agree with you that they will stay trending down for the forseeable future. Thank you for PHM, you brought it to my attention.
I hold a small short in AAPL and ZMH which are amaxing me with their tenacity. (my positions are small enough that i can sell some more when/if Dan sees fit! Thak you to for that Shortstocks.com connection) Did you watch the action in WBD on Friday!!
CLB i have not entered yet, BAB looks more apealing to me...I have not looked at CCJ
Overall I am realizing that i have too many small positions open and need to try to consolodate, be more patient and play a few larger trades with mor confidence...
BRCD if it hits 6.40s again i will try to short with a tight stop of 6.55... that channel top of 6.45 has been some strong resistance for those bulls. KOMG also looks interesting..
Also look at PNRA, ABBP, GST and ISV the last 2 i am in... if you can find the shares watch TNEN.ob for a short also AKAM for another short entry
I need to learn to sell losers
keep up the great posts (are there really only 4 positions in your quiver currently?!)
Cheers Joe