Trading Journal - May

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TODAYS EXECUTIONS:

14:22:48 SUNW SHRT 5000 6.61

OPEN POSITIONS:

LONG .SJXQL 5 17.00 +41.70
SHORT AMGN 2000 51.39 +0.98
SHORT CREE 2000 12.34 +0.73
SHORT SUNW 5000 6.61 +0.14
LONG DIS 2000 24.86 -0.83
LONG PALM 10000 3.63 -0.88
SHORT VZ 2000 40.23 -1.27

CLOSED P&L: $0 OPEN P&L: $12,470
MTD P&L: $5,970 YTD: $165,302
 
Originally you bought at 4.02 and had a stop at 3.40. Then you doubled your long position at 3.26. Now palm has been down to 2.50. Just wondering why you didn't stop out and why you added more?: :confused:
 
Originally posted by duke1702
Originally you bought at 4.02 and had a stop at 3.40. Then you doubled your long position at 3.26. Now palm has been down to 2.50. Just wondering why you didn't stop out and why you added more?: :confused:
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I stated that I was accumalating PALM for a long term play. The stop I listed was for the swing trade. If there is much more downside to PALM I will consider closing, but not quite yet.

P.S. I was out of town Friday and will post my trades and P&L Monday.
 
Originally posted by trader88
Seanote
Would you be willing to tell us what kind of screening tool/software you use to look for trade candidates?
Thanks.
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The program scans stocks testing daily support/resistance with various time frames, MAs, and major trends.
 
Originally posted by trader88
Is the program commercially available and is there a name for it?
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Unfortunately it isn't....I've had a few traders ask for the code but it's something that a programmer and myself worked on for a few months. I think I have finally fine tuned it enough to indicate correct signals 65-70% of the time. I'll have a better idea of it's consistancy after another year or so of trading. The interpretation of the signals is just as important. The software is not programmed to say... "buy here, sell there.." TA plays just as an important role as the scan does.
 
Here are my updated positions as of close Friday:

TODAYS EXECUTIONS:

NONE

OPEN POSITIONS:

LONG .SJXQL 5 17.00 +62.80
SHORT AMGN 2000 51.39 +2.46
SHORT CREE 2000 12.34 +0.56
SHORT SUNW 5000 6.61 -0.03
SHORT VZ 2000 40.23 -0.17
LONG PALM 10000 3.63 -1.03
LONG DIS 2000 24.86 -1.28

CLOSED P&L: $0 OPEN P&L: $24,090
MTD P&L: $5,970 YTD P&L: 165,302
 
The major averages are still struggling....don't fight the trend. However, the small and mid caps are testing highs and look much more attractive at these levels. The small cap has formed a new base after testing previous highs while the mid cap ($MDY) has pulled back to support signaling a buying opportunity. If looking to go long watch the small and mids for now. IMO

CPWR - Short

Stop: $8.00
Target: $5.50
Continued break down after April gap and show no sign of filling the gap in a continued down trend.
 
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