3/7 Portfolio Update

Friday was a tough trading day for me, but I was up overall for the week. Now that I have two weeks of full time trading experience behind me, I feel like I’m finally ready.  Up to this point, I’ve focused on organizing and preparing myself for a new life.  Now that I’m settled, it’s time to start making some real money trading and helping my fellow BOWS team build up the business.
Current positions:

• GE Long at 16.26
• RTK long at 1.13
• C long at 2.47
• ATHX long at 3.26
• Not sure if I tweeted it out, but I’m still SHORT ABX

Tags: ABX, ATHX, C, GE, RTK

My Trading Recap

EGLE – (buy $4.77, exit $5.30, profit 10% before commission)
Entered as it moved through resistance trendline.  If you notice, there is a messy horizontal resistance line near $5.05.. not coincidentally, where it finished the day.  I made a point to take profits when EGLE started to return back to its comfort zone ($5.05) off the day’s highs.

If it uses $5.05 as support  on Tuesday, there is another possible long play up to resistance trendline currently at $8. Probably not, however.

FAS – (buy $2.74, exit $2.92, profit 6% before commission)
I bought this one early looking for a run. Enterend at $2.74 with volume and exited as the price bounced between $2.90 and 2.96.  Just wasn’t confident that it would keep going.  Ended up being a good call as I exited near the high on the day.

CLR – (buy $15.00)
I’ve traded CLR numerous times and it has treats me well.  I went long after it proved it could hold horizontal support just above $14. Not sure how this one is going to play out (still holding) – I would like to have seen more volume.. tight stop.

No other trades – got that day job thing.

Few notes from today’s additions to the Watch List:

• As anticipated, GLD went down today on lower volume.  Folks losing interest in putting their money in a safety net? Hmmm. Maybe investors are ready to put their money back in the market.. lol – way too soon to call that.  Play what the chart gives you.  I’ll post another note on GLD soon.
• $WTIC&p=D&yr=0&mn=6&dy=0&id=p62919039403" target="_blank">Oil looking bullish – so keeping an eye on the leaders to establish direction – XOM, CVX, HAL charts catch my eye.
• MCD still not interesting enough for me to have conviction one way or another. Watching.
• GE looked good today. I’m interested above EMA13 – needs to prove itself.
• Still watching for possible BMC short under $28
• CAB at a critical point.  Can it hold $7.5? If not, short time.
• MS – Ready to go long Thursday
• Looks like I called the ASCA short setup.

Tags: ASCA, BMC, CAB, CLR, CVX, EGLE, FAS, GE, GLD, HAL, MCD, MS, XOM

Monday Watch List

Ok, my birthday is behind me and it’s time to focus on my 37th year on this planet. More fun, more profits, more reading, more exercising. Kinda like a New Year’s resolution, but this time I mean it.  My primary focus will be on gold, financials, oil, and chip makers.

Here are a few stocks I’ve added to my watch list:

UNH -sure does feel oversold. Nice bounce Friday with crazy volume lately.

GLD is at the magical $92 level again.. resistance/support? which way will it go.  Decreasing volume says down. Worth watching.

CVX – possibly oversold – bounced off October lows on Friday.

MCD – horizontal support at $51?

GE – attempting to sit on the north side of EMA4. Possible long swing trade this week.

BMC – Setting up as a possible short.

USO

FAS - lots of FAS chatter this weekend – it is rather oversold.

CAB – Flag worth watching.

SHY – possible short under $83.8

VRX – horizontal support?

MS mentioned to move with mark-to-market discussion later this week

INTC , AMD – both interesting setup charts worth watching. Mentioned TXN the other day as a channel play.

EGLE – Might go long if trendline resistance broken.

ASCA – SHORT below trendline.

Tags: AMD, ASCS, BMC, CAB, CVX, EGLE, FAS, GE, GLD, INTC, MCD, MS, SHY, UHN, USO, VRX

What I Learned Today

Don’t buck the trend.. I tried to convince myself that we would see an Obama rally today. Because I had on blinders, I managed to miss some great opportunities (EEV and FAZ) that were right there in front of me.  I did, somehow, make 3 % on FAS before the bottom fell out (I’m possibly interested in it again, btw) and I stopped out of GE for 1% loss.

Focus, focus, focus!  Securities are way over-sold, but I’ll look for confirmation before I look for bull moves again.  For now, I’m keeping an eye on 7500 (DOW low in Nov).

Tags: EEV, FAS, FAZ, GE

Tuesday Here We Come

Barack Obama

I’m not too sure, honestly, what to expect this week from the securities market.  There is a lot of excitement in the air around the inauguration, but will it create enough optimism to drive the markets up for a few days?  Hard to say, but here are a few stocks/ETFs that I will have an eye on in the morning based mainly on technicals…

GE is at the top of my list.  I mentioned it in a previous post and I’m sticking to it.  Short term target – EMA50.

BWEN.ob is my ‘wind’ watch for tomorrow.  Currently at horizontal resistance.

TXN – pushing through EMA4 with MACD and slo STO bullish crossover. Testing EMA13.  The RSI2 buy signal was last Thursday, but Friday was a better buy with EMA4 confirmation…. but, there could be some more upside Tuesday with 16.5 target.

SPWRA

PG – hitting horizontal support and testing RSI2 at 30.  I’m interested with a push through EMA4.

NOV – must push strong through EMA4.

RRGB – interesting volume and push through RSI2 30 possible.

SWHC – moves well on EMA4 EMA13 crossover

More scan results:

TEX – testing RSI2 30.  Also Slo STO  crossover.

IPI – nice chanel behavior.. just now bouncing off bottom of chanel.

CAT – needs to get on the north side of EMA4.  A push through EMA13 could open it up for a few days long.

Tags: BWEN, GE, NOV, PG, RRGB, SPWRA, SWHC, TXN