A 70k bet that I can't make a 50% gain in 2009
- Thread starter geez
- Start date
Trades today:
CLF LONG 52.45 /Stop 52.05/ TGT 53.25
EXIT 53.45 +500
*CLF was extended on the daily and with the SPY gap down today I took the first Higher low on the 1 min chart at open
9:50 OXY SHORT 82.58/ STOP 83.03/ TGT 81.58
EXIT 83.03 -200
* OXY Stayed weak while SPY bounced after the first sell off. I shorted under the LOD looking for SPY to continue lower and this being a very weak stock to lead the way.
10:05 COST LONG 60.45/ STOP 60.34/ TGT 60.67
EXIT 60.67 +400
*COST is the reverse of OXY, this was strong on the open and stayed strong , so I bought the first Higher low which happened to be just under the HOD.
10:25 OXY SHORT 83.52/ STOP 84.02/ TGT 82.52
EXIT 84.02 -200
*OXY puts in a lower high at 10:20 when SPY looks like it may reverse as well after moving up into the gap and turning back down. OXY stays much weaker than SPY which helps trigger this trade....goes +.59 in my favor (just for you Nodoji)
2:15 APC SHORT 62.86/ STOP 63.01/ TGT 62.56
EXIT 62.46 +440
* APC was my top pick short today due to the daily chart setting up a possible lower high after the last sell off and 2 days rally. I waited for it to show weakness and shorted the lower high at 2:10. Maybe shoulda held some of this one longer..hehe
5 TRADES:
3 WINS
2 LOSSES
(OXY eventually sets up nice lower highs at 1:50 and 2:10 that I call to puddles, but we dont take. We were right on the overall move of OXY though)
CLF LONG 52.45 /Stop 52.05/ TGT 53.25
EXIT 53.45 +500
*CLF was extended on the daily and with the SPY gap down today I took the first Higher low on the 1 min chart at open
9:50 OXY SHORT 82.58/ STOP 83.03/ TGT 81.58
EXIT 83.03 -200
* OXY Stayed weak while SPY bounced after the first sell off. I shorted under the LOD looking for SPY to continue lower and this being a very weak stock to lead the way.
10:05 COST LONG 60.45/ STOP 60.34/ TGT 60.67
EXIT 60.67 +400
*COST is the reverse of OXY, this was strong on the open and stayed strong , so I bought the first Higher low which happened to be just under the HOD.
10:25 OXY SHORT 83.52/ STOP 84.02/ TGT 82.52
EXIT 84.02 -200
*OXY puts in a lower high at 10:20 when SPY looks like it may reverse as well after moving up into the gap and turning back down. OXY stays much weaker than SPY which helps trigger this trade....goes +.59 in my favor (just for you Nodoji)
2:15 APC SHORT 62.86/ STOP 63.01/ TGT 62.56
EXIT 62.46 +440
* APC was my top pick short today due to the daily chart setting up a possible lower high after the last sell off and 2 days rally. I waited for it to show weakness and shorted the lower high at 2:10. Maybe shoulda held some of this one longer..hehe
5 TRADES:
3 WINS
2 LOSSES
(OXY eventually sets up nice lower highs at 1:50 and 2:10 that I call to puddles, but we dont take. We were right on the overall move of OXY though)
<img src="http://puddles.humanfund.ca/20100505/spy.png">
<img src="http://puddles.humanfund.ca/20100505/xl.png">
<img src="http://puddles.humanfund.ca/20100505/vrx.png">
9:48
XL LONG 17.95
STOP 17.7
TGT 18.45
(this is a 2minute chart, i trade off a 1 or 2min during the open)
- XL is extended down on the daily, look for longs.
- XL gaps up on the open, nothing else does, good sign of strength
- Higher low sets up, take it over the bar, 17.95 (could have taken it lower)
- Get shaken out real fast -0.25
- I have no issues with this trade, just a shakeout but I feel that I was on the correct side..
11:18
VRX SHORT 48.78
STOP 48.9
TGT 48.54
- VRX was extended *UP* on a 5 day rally which is pretty exceptional considering the last few days. I'll be looking to get short pretty aggressively
- VRX opens a bit better than SPY but shows weakness. Look to get short but no clean setups show up.
- As SPY rips from 9:45 to 11am where SPY ends up above it's open, VRX fails to fully retrace it's move down from the open
- Lower high sets up at 11:15, take below the bar.. short 48.78
- The Lower High at 11:30 was valid too and I could have taken that trade independently or added to my trade. (short .63, stop .73, target .43. would have hit +0.20)
- Target hits +0.24
15:49
APC Short 61.52, stop .62..
Didn't get around to posting this one..
Chart in the post above... I thought I was done for the day after missing a perfect AXP setup at 14:00 but I had already started my May 5th celebrations and I had just gotten a phone call with some great news.. All giddy like a school girl I took the APC lower high at 61.52.. The probable EOD short cover rally took me out pretty fast -0.13 (3c of slippage).. That was just dumb, i should have looked at the clock..
1-2 day, flat less commish/fees
<img src="http://puddles.humanfund.ca/20100505/xl.png">
<img src="http://puddles.humanfund.ca/20100505/vrx.png">
9:48
XL LONG 17.95
STOP 17.7
TGT 18.45
(this is a 2minute chart, i trade off a 1 or 2min during the open)
- XL is extended down on the daily, look for longs.
- XL gaps up on the open, nothing else does, good sign of strength
- Higher low sets up, take it over the bar, 17.95 (could have taken it lower)
- Get shaken out real fast -0.25
- I have no issues with this trade, just a shakeout but I feel that I was on the correct side..
11:18
VRX SHORT 48.78
STOP 48.9
TGT 48.54
- VRX was extended *UP* on a 5 day rally which is pretty exceptional considering the last few days. I'll be looking to get short pretty aggressively
- VRX opens a bit better than SPY but shows weakness. Look to get short but no clean setups show up.
- As SPY rips from 9:45 to 11am where SPY ends up above it's open, VRX fails to fully retrace it's move down from the open
- Lower high sets up at 11:15, take below the bar.. short 48.78
- The Lower High at 11:30 was valid too and I could have taken that trade independently or added to my trade. (short .63, stop .73, target .43. would have hit +0.20)
- Target hits +0.24
15:49
APC Short 61.52, stop .62..
Didn't get around to posting this one..
Chart in the post above... I thought I was done for the day after missing a perfect AXP setup at 14:00 but I had already started my May 5th celebrations and I had just gotten a phone call with some great news.. All giddy like a school girl I took the APC lower high at 61.52.. The probable EOD short cover rally took me out pretty fast -0.13 (3c of slippage).. That was just dumb, i should have looked at the clock..
1-2 day, flat less commish/fees
I am interested to learn more about the evening preparation process involved in scanning the charts for oversold and overbought condition.
Do you guys just manually go through a basket of stocks and pull each daily chart up one by one till you see something you like and put it on a watch list? If so how big is the basket and how much time do you put into this? Or do you go the easy route and have a scanner which narrows your list down a lot?
Many thanks
Do you guys just manually go through a basket of stocks and pull each daily chart up one by one till you see something you like and put it on a watch list? If so how big is the basket and how much time do you put into this? Or do you go the easy route and have a scanner which narrows your list down a lot?
Many thanks
I used to flip through charts like a fool then i figured out a shortcut. finviz.com can display a whole wack of charts on one screen.
if anything looks interesting i open the chart in a new tab.. When i'm done scanning through my list and i go through my tabs to see which stocks i want to put on my lists..
here's my bookmarks.
- list for general scanning
http://finviz.com/screener.ashx?v=2...sh_price_o15,sh_relvol_o1&ft=4&ta=0&o=-volume
- list to find extended up
http://finviz.com/screener.ashx?v=2...sh_relvol_o1,ta_change_u2&ft=4&ta=0&o=-volume
- list to find extended down
http://finviz.com/screener.ashx?v=2...sh_relvol_o1,ta_change_d2&ft=4&ta=0&o=-volume