Because both of these stocks gapped at the open, I have not entered positions in either. Due to the severe downward bias in the markets currently, I am going to impose a 3 position cap on this strategy. meaning I will play the 3 open positions i currently have, and not open a new position until one of them closes. I will continue to do this while the download pressure remains on the market.
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Frosty's Discretionary Journal
- Thread starter frostengine
- Start date
I misspoke earlier when I said a 3 cap limit, forgot that i'm currently in 4, not 3 positions. So i will be maintaining a 4 position limit for the time being.
Here is the update of where everything currently stands:
Open Positions
DSX +9.1%
GPS +1.1%
MCD -.17%
EV -10.2%
Total for Open Positions: -.17%
The S&P was at around 1380 at the time I made the first purchase for this journal which makes the change in the S&P since starting: -4.0%
DSX today closed above the high of yesterday which means Monday it will be liquidated around the open price depending on the market conditions.
The other remaining stocks are currently set to be closed out as follows due to the 5 day holding rule. Unless they close above a previous day high.
GPS -wends at open
EV-wends at open
MCD-thursday at open
If anyone has any comments or suggestions about this strategy thus far, feel free to post your questions.
Here is the update of where everything currently stands:
Open Positions
DSX +9.1%
GPS +1.1%
MCD -.17%
EV -10.2%
Total for Open Positions: -.17%
The S&P was at around 1380 at the time I made the first purchase for this journal which makes the change in the S&P since starting: -4.0%
DSX today closed above the high of yesterday which means Monday it will be liquidated around the open price depending on the market conditions.
The other remaining stocks are currently set to be closed out as follows due to the 5 day holding rule. Unless they close above a previous day high.
GPS -wends at open
EV-wends at open
MCD-thursday at open
If anyone has any comments or suggestions about this strategy thus far, feel free to post your questions.
I had overlooked the fact that the markets were closed Monday. Therefore, today is the day to close out DSX based on the rules. Due to the gap down this morning I didn't close at open. I closed a few minutes ago at the price of: 22.63
I had several changes to get a much better price on DSX but kept waiting to see if todays market would pop. Eventually it got close to the closing time and due to the rules that position was suppose to be closed today so I took the price that was available.
GPS and EV I thought were due to be closed wends. But due to markets closed on Monday they will now be closed on Thursday instead. MCD is due to be closed on Friday.
No signals were given from Fridays action, so no new positions were opened today.
Closed Positions:
DSX +6.34%
I had several changes to get a much better price on DSX but kept waiting to see if todays market would pop. Eventually it got close to the closing time and due to the rules that position was suppose to be closed today so I took the price that was available.
GPS and EV I thought were due to be closed wends. But due to markets closed on Monday they will now be closed on Thursday instead. MCD is due to be closed on Friday.
No signals were given from Fridays action, so no new positions were opened today.
Closed Positions:
DSX +6.34%
GPS was not suppose to be closed until tomorrow at the open.. but it being such a shaky market and having a nice gain, I went ahead and locked in the gain. Under normal circumstances I would like to follow my strategy all the way, but in this volatile market I rather protect the gain that risk loosing it. I may have left some money on the table, but cant argue with over 8% gain for a 4 trading day hold.
Sold at: 18.52
Closed GPS for +8.75%
Sold at: 18.52
Closed GPS for +8.75%
EV and MCD both closed above yesterdays high today which means they both will be closed out tomorrow morning...
Total Gain for closed positions: =+15.09% Since I put a cap to where I can only have 4 open positions at any time, that means the return on trading equity is:
15.09/4= +3.77%
Total Gain for closed positions: =+15.09% Since I put a cap to where I can only have 4 open positions at any time, that means the return on trading equity is:
15.09/4= +3.77%
Sold EV for 36.15
Loss -1.98%
Sold MCD for 53.84
Gain +2.5%
I do not have any more open positions at this time.
Total Gain Since Starting Journal: +15.61%
Return on Trading Equity so far: +3.9%
Loss -1.98%
Sold MCD for 53.84
Gain +2.5%
I do not have any more open positions at this time.
Total Gain Since Starting Journal: +15.61%
Return on Trading Equity so far: +3.9%
No signals for tomorrow. Its been a few days now since I've had a signal.... Mostly due to most stocks being so oversold that they bounced a little which doesn't generate a signal.
Been a few days but finally have some stocks to enter for tomorrow...
PBG
HSIC
PBG
HSIC
Opened position in PBG at: $33.34
Opened position in HSIC at : $56.75
Both are set to be closed in 5 trading days: Feb 7th
Opened position in HSIC at : $56.75
Both are set to be closed in 5 trading days: Feb 7th
No new signals for tomorrow. Neither stock today closed above the high yesterday so they are not SET to be closed. However they both came within pennies of closing above yesterdays high, so depending on market action with the bad goog earnings and such there is a chance I may go ahead and close these positions anyway. Depends on how I feel the market is going to do tomorrow after it opens. They both have a decent profit so I would hate to see that profit evaporate, just because it missed the high by a few pennies.