Random Rants and Market Ideas by Brandonf

Closed DUK

Updated stops

DIA above 103.11
TXN above 27.86
WY 62.86
PHM above 36.45
DUK closed
GM 27.35

CMX is my only long. Stops are under 51.60. I added a small amount from 52.10 this morning
 
CMX gave us a very nice long setup yesterday from the breakout above $50.50. It is currently trading 52.80. Im going to take gains on 1/2 of the trade here and move my stop to $51.75 on the rest.
 
Quote from Brandonf:

CMX gave us a very nice long setup yesterday from the breakout above $50.50. It is currently trading 52.80. Im going to take gains on 1/2 of the trade here and move my stop to $51.75 on the rest.
More...

CMX is known to be a choppy stock.. just look at the chart.. its not really a momentum stock... there is a high chance you will get stopped out because your stop looks to be a bit too tight.

It was a nice trae.. but u are probably best off selling into strength to unload position than trail.


--MIKE
 
Quote from Trend Fader:

CMX is known to be a choppy stock.. just look at the chart.. its not really a momentum stock... there is a high chance you will get stopped out because your stop looks to be a bit too tight.

It was a nice trae.. but u are probably best off selling into strength to unload position than trail.


--MIKE
More...

Eventually the goal is to be stopped out. I want to trail out all my stops with very few exceptions, so nearly all my exits will occur on a stop.
 
Quote from Brandonf:

Eventually the goal is to be stopped out. I want to trail out all my stops with very few exceptions, so nearly all my exits will occur on a stop.
More...

I understand.. but different market environments warrant different market principles...

We are in a very nervous and jittery market and CMX happens to be a stock that is pretty choppy.. it has been in a practically 10 poin range almost all year.. I think it would be wise to adjust your methods based on the changing market conditions...

--MIKE
 
brandonf,

I dont use any fundamentals (except to check news/see that it doesnt have earnings coming up) but I wrote some scripts to give me candidates "to watch". I like to run it on a big down day since thats when you can really see strength, anyway maybe it'll save you some time tonight, I ran it on last nights data and added volume 1million+, here are some ideas.. as I said I dont use fundamentals so maybe you can start on this list and see if it meets your other criteria, it takes me about 5 mins each nite to run the script and it was a lifesaver versus looking at charts manually:

AAI
AAPL
ABS
ACI
ADBE
AKAM
AMR
AQNT
CRM
ET
FCX
FFIV
GOOG
JNS
MACR
MEDI
PKZ
RHAT
SNDK
SYNA
THE
TNE
VAR
VCLK


Obviously you still have to look at the patterns (or watch the stocks) to see them setup nice bases, but take a look at PKZ for example, perfect setup except they got bought yesterday :(

Anyway, just thought might help for future setups, longs are tuff 2 find in this market! (stock with strength).

The other cool thing about automated scanning is that you will usually find themes of a bunch of stocks in a sector.. obviously :)

Hope it helps!
 
Quote from Trend Fader:

I understand.. but different market environments warrant different market principles...

We are in a very nervous and jittery market and CMX happens to be a stock that is pretty choppy.. it has been in a practically 10 poin range almost all year.. I think it would be wise to adjust your methods based on the changing market conditions...

--MIKE
More...

I appriciate your obvious concern for my trading. I am sure all of my clients will sleep better knowing you are helping now on board after 7 years.
 
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