My thoughts and journal
- Thread starter Brandonf
- Start date
Breaking My Arm
I always hate it when people go over the top and trip over themselves to say how they great they are. That said I'm going to go ahead and break my arm patting myself on the back
Those of you who are following this blog are aware that we are having an excellent week after some earlier stops in AAPL and NUE short.
Current Open trades are
GOOG long from 232.
LCAV long from 39.
BMHC long from 58.50's
UTX from 104.50
PZZA from 38.80.
DNA from 75.60
PEET from 28.70
and BMS short from 26.75. BMS being the only trade that is under water. Very nice stuff. It only takes 3 to 5 moves like this per year to make your year.
I always hate it when people go over the top and trip over themselves to say how they great they are. That said I'm going to go ahead and break my arm patting myself on the back
Those of you who are following this blog are aware that we are having an excellent week after some earlier stops in AAPL and NUE short.
Current Open trades are
GOOG long from 232.
LCAV long from 39.
BMHC long from 58.50's
UTX from 104.50
PZZA from 38.80.
DNA from 75.60
PEET from 28.70
and BMS short from 26.75. BMS being the only trade that is under water. Very nice stuff. It only takes 3 to 5 moves like this per year to make your year.
Everything must go! Close out Prices
The wrong way crowd appears to be frothing at the mouth here. I suspect we have a lot more upside, but we are overdue for a pullback. For that reason I will be 100% in cash by the close. Very nice stuff the last week if I do say so myself.
The wrong way crowd appears to be frothing at the mouth here. I suspect we have a lot more upside, but we are overdue for a pullback. For that reason I will be 100% in cash by the close. Very nice stuff the last week if I do say so myself.
How would your account look right now if last week you had bought GOOG as it broke above $230 per share, it closed yesterday at $258.10 on rumors it will be joining the S&P500 soon. Or how about if you had bought LCAV at $39 per share, it closed at $42.65 per share on Monday, or BMHC at $58.50. That stock closed at $62.36 per share. This is just a small sample of the trades you would have taken if you followed the FREE Blogger at my new website http://www.brandonfredrickson.com. In fact in the last week and a half I have given exact entries on NINE stocks and only one of them has lost money. That is an 88% hit rate. When most people where still nervous or selling, I was out buying with my own money and allowing those who read the blog to follow along with me FREE!. In addition to the blog I have educational video's, and if you sign up for my email list you will get two hard hitting educational reports that can only help to improve your bottom line.
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The market: Yesterday was another great day for the bulls as the market edged higher. New Highs beat out new lows on both exchanges, breakouts to the upside continue to work well and the volume patterns are positive. With that said I did go 100% to cash yesterday on my trades. The reason being that we are getting a bit extended to the upside. The wrong way crowd is frothing at the mouth and willing to buy at any price. It almost looks like the real estate market here in Sarasota! You can see the high level of complacency in the market by looking at the VXN, which just made an all time low. I was also concerned by the under performance of the Semiconductors and Brokers, two groups that have led the market higher over the last few weeks. Does this mean I think the ride is over? No, I would not say that but unlike most traditional stock brokers or mutual fund managers I always think there is a time to take a profit. If I could get the markets to do my bidding for me, which rarely happens but hey we can dream, I would like to see the SPYders pull back to about $118 per share. That would remove some of the excess excitement in the market and allow us to get back into some of the real winners.
Obviously trading wise the next few days will be slow for me, however it is a time to do a lot of research during the day. I will be looking for the strongest stocks and then investigating those companies. I do crazy things like read annual reports and call CFOs, stuff most people do not have the time or inclination to do. However, this is what I do for a living and I take it very seriously.
Continue to focus on buying opportunities as the market pulls back, but play it close to the vest here. And again, do yourself a favor and read my blog. If you can not come down to Florida and watch me trade live, this is just about the next best thing.
Brandon
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The market: Yesterday was another great day for the bulls as the market edged higher. New Highs beat out new lows on both exchanges, breakouts to the upside continue to work well and the volume patterns are positive. With that said I did go 100% to cash yesterday on my trades. The reason being that we are getting a bit extended to the upside. The wrong way crowd is frothing at the mouth and willing to buy at any price. It almost looks like the real estate market here in Sarasota! You can see the high level of complacency in the market by looking at the VXN, which just made an all time low. I was also concerned by the under performance of the Semiconductors and Brokers, two groups that have led the market higher over the last few weeks. Does this mean I think the ride is over? No, I would not say that but unlike most traditional stock brokers or mutual fund managers I always think there is a time to take a profit. If I could get the markets to do my bidding for me, which rarely happens but hey we can dream, I would like to see the SPYders pull back to about $118 per share. That would remove some of the excess excitement in the market and allow us to get back into some of the real winners.
Obviously trading wise the next few days will be slow for me, however it is a time to do a lot of research during the day. I will be looking for the strongest stocks and then investigating those companies. I do crazy things like read annual reports and call CFOs, stuff most people do not have the time or inclination to do. However, this is what I do for a living and I take it very seriously.
Continue to focus on buying opportunities as the market pulls back, but play it close to the vest here. And again, do yourself a favor and read my blog. If you can not come down to Florida and watch me trade live, this is just about the next best thing.
Brandon
If you make a map of success it will help you get there faster and keep you on the right track as you are on the road. Setting goals is important in all aspects of life, trading included, if you are to be successful.
By setting goals you identify the things you want. Not only that, but you identify how you are going to get what you want.
Grab a pen and paper now and determine the following things.
What do you want to accomplish with your trading this week, this month, this year and in five years.
Why do you want to achieve these goals.
What steps are you going to take to reach these goals.
What are you doing right now which is preventing you from reaching these goals.
Review this often to keep them fresh in your mind.
Brandon
By setting goals you identify the things you want. Not only that, but you identify how you are going to get what you want.
Grab a pen and paper now and determine the following things.
What do you want to accomplish with your trading this week, this month, this year and in five years.
Why do you want to achieve these goals.
What steps are you going to take to reach these goals.
What are you doing right now which is preventing you from reaching these goals.
Review this often to keep them fresh in your mind.
Brandon
Today's random rants are in video. Please click the following URL to listen to professional market commentary and stock trading ideas. http://www.brandonfredrickson.com/videos/may25.html
Just a quick note that starting tomorrow I will be hosting a swingtrading show on themarketvue.com's show. I will appear throughout the day in the channel. They have some very cool technology that allows for me to show exactly what I am looking at as I am looking at it.
Brandon
Brandon