Friday, April 23, 2010

New Positions

Update: out of all positions April 27

Our day-trade account time-frame is pretty short these days since we're seeing failures in extended set-ups. But we're starting to fill up our swing account with starter positions in commodity stocks (still under 25% invested).

Here is what we bought today (posted real-time on our Twitter acct:

We think AEM will break 62 soon and want to be long in front of that (61.34):

SWN is flattening the 50SMA and we think it will break through soon (41.88):
(Update: as posted, sold partial SWN 42.85 in front of the 200SMA and the rest at 43 at the 200SMA -- we didn't expect the stock to move this fast today)

APA might take a while but like this base forming under 109 and we bought today in anticipation (107.28):

As posted, sold a few APA 109.05 into the run today -- we were hoping it would wait but instead it broke out with light volume and we wanted to take partials off.

POT held on the 200SMA and now is basing under trend-line. We started a position today in anticipation of a break-out (108.43):

We're also looking to leg into some VALE ATPG next week if we get any type of pull-back. These are intial entries into longer-term positions which we plan to hold for a while -- very differnt from what we've been doing in our day-trade account lately which average time spent in a stock has averaged to be less than 2 hrs.

Thursday, April 22, 2010


Incredible tape/strength in the market today -- we had three triggers, all break-out, and all worked nicely.

ICE we had alert 115, but noted to watch for base and break 114.

FST 28 minor spot, worked.

SHLD 111.5 big spot, worked well.

Wednesday, April 21, 2010

Back to a stock pickers market

It seems that the era of the "easy tape" is over for now and we're back to a stock-pickers market. This means that traders will actually have to do some homework and work at it a bit more to be able to make the income.

We had two shorts, one long support, and one long break-out trigger today from the newsletter -- having shorts and longs trigger is also another clear sign that going forward one has to pay attention to levels with more scrutiny. They all worked -- a good sign that market acting as it should technically.

We knew there would be some trade around VALE 32 -- nice short base on it today and thus far working for day-trade.

UTX break-out 75 on our newsletter last night.

LULU short 41.66 worked well for a trade.

RGLD was listed as a buy at 46.5 -- very nice quick bounce there as it hit our alert

Monday, April 19, 2010

Bulls owned the market today

One of the first signs of a true change in sentiment is simply this: support fails to hold. Today was a fantastic day for buying support as can be seen by the following (we had a number of these in our newsletter last night). Don't get excited on the dark side yet until this type of sentiment shifts and support becomes meaningless. At same time note that our focus has shifted to buying the pull-back rather than buying the break-out.

The HCPG member who sends out the newsletter has had a catastrophic crash in the main computer. Newsletter won't be sent out until late tonight.

Daytrade Talk; support

An example of how we trade:

POT 104.5 we added alert in newsletter last night to watch for bounce on the 104.5 200SMA spot.

The best support trades are when the stock hits the alert extended away from the EMA. Buy reversal with stop under and take off first partial (usually 1/3 or 1/4 for us) back into the EMA to lock in some profits. Usually good for at least a 2-3 Risk/Reward trade.