Trading Journal - June

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Originally posted by Cesko
LongShot
Do you know about more sophisticated methods??
The only thing I do not understand about Seanote's methods is to try consistently fade obviously strong markets.
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I totally agree.....But hey, if it works for him that's all that matters. Shorting a strong stock on a strong day is not for the weak hearted....
 
I don't see the need to knock someone that made a trade that didn't work - at least he had the guts to post it - which is a lot more than anyone else here would ever do.

Judging from his P&L, I'd say we could learn a lot more from him than most others here who just like to criticize.
 
The market remains very oversold and is very near long term support levels. The Dow has now touched the October 2001 level while the Nasdaq has reached its September support level. Much like a fire we have two out of the three ingredients in place to launch a market rally. All we need is some good news to spark it. However, like a fire without the spark the market can continue to sell off despite being very oversold.

Plays following....
 
Agree with MBG, don't knock someone who is trying to help us. I am in the middle of the forest & can't see the trees. I appreciate Sean's help
 
spectre --

the daily spread, (ebay-spx) shows a spike the likes of which haven't occured since sept. if nothing else, it must me taken in the context of other indicators and the tape.


i hope this isn't one of the tight inside days.
 
Speculative BUY

Reasoning: gapping down, FON has broke through to lower levels...BUT expect a retrace to fill the gap

Stop: $9.90 area
Target: $12
 
Today is an interesting day. After yesterday's rally, the market is poised for a weak opening as bad news has again spooked the market. If the market is going to break out of this up and down grinding environment it must be able to climb the wall of worry and advance on bad news. So far this year it hasn't been able to do that. Watch the market action after 11am as the market tends to dip until around 10:30am. If we can get a late morning rally that extends into the afternoon and allows the market to close on a positive note then look for a continued market rally for the next few weeks. If not, look for more choppiness ahead.
Two stocks to watch that are going in the opposite direction are IBM and PG.
 
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