I’ve been doing some analysis of my trading and I’ve determined that I’ve been overtrading my account. I’ve been going in and out of positions too much trying to catch some wiggles instead of being patient with the bigger moves. The net result is that over the past few weeks I’ve been churning my account [...]
I got in at $150 and it ran down to $141. There is nice support at $141 and it was also the lower BB. With the analyst upgrade today, the stock charged up to the recent high at $151.95. My stop got hit at $150 this morning and I initiated my short again at $150 [...]
¶ TNS, AZO
I have a close eye on TNS. This one was a breakout to an all time high today. It might become a good long position at some point, but for now I am waiting on it for a short term trade trade to the downside. I’m hoping that we get maybe 1-2 more days of [...]
Another week passes and it is still very difficult to determine whether to take a long or a short bias this week. We really have a mixed bag. Generally the setups look quite bullish but everything looks way overbought. The equates to sitting on the sidelines and trading alternative strategies since the market cannot be [...]
I’ve been through a lot of charts this morning and I am seeing both bullish and bearish setups. I don’t see strong evidence to support taking a bullish bias or bearish bias. With this in mind, I am trading small right now and trading out of a hedged portfolio. My current bias is a little [...]
Today is one of my worst trading days this year. All my big gains from the last 1-2 weeks are up in smoke. My shorts are up huge while my longs are only up modestly. I am doing what I always do on big loser days. I just keep trading and looking for opportunities. Today [...]
I have flipped through a few hundred charts and I see more patterns and technical setups than I have seen in a real long time. Some weeks, one Sunday does not look much different than the last. There was a lot of movement in the market last week and the technical setup has changed quite [...]
Just a short journal post tonight. I will have new ideas over the weekend and the Sunday Night Coffee post sometime on Sunday.
There seemed to be some thought today that Uncle Sam might nationalize C or BAC tonight or over the weekend. Obama then came out and deflated the rumors. We will see.
Today was a [...]