Weinstein Trading and Fading

I didnt get any signals today but I was able to trade adding liquidity for a few and so it was not too bad of a day.

AMMD + 68

CPRT + 407

FNF + 256

FOSL + 48

IMA + 1409

RCI + 269

I also sold some USO mar 25 calls expecting to have my 25 puts to be put to me on Friday for 1.15. if they get put to me I will still have a nice gain as I will have collected both the put and the call premium. If they don’t get exercised and oil moves further down the calls will act as a partial hedge.

+ 2460

+ 6544 Week

+ 37251 Month
 

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Quote from Robert Weinstein:

Today was a crazy day to say the least.

Today I had the highest amount of signals of the year. At one time I had no less than five trades going on at once. Some of them really moved against me for a while and it was not easy to handle the amount of trades and signals due to half my monitors being in ‘change over status’.

I am changing my charting computer with a new one that has two quad video cards so that hopefully my crashing problem goes away. So I worked as fast as I could to get Ninja trader charts up and running on as many monitors as I could. I have to say that I am liking the idea of using IB datafeed with ninja charting. This is meant to take a load off of the scanning computer running Tradestation.

So in the middle of a change over the market decideds its a good idea to have me trade a total of about 13 different stocks and mostly all at once. It was a very stressful filled day that I am glad to have made it out with my head still on straight.

I had a late start in the post today and I need to pick up my son today so the setups are missing in the post.

V + 15

TOL + 31

SGR + 105

RYL + 292

RS + 243

PCR + 786

PBI + 257

MDC + 334

KBH + 68

FMC + 18

CI + 197

CCC + 51

AOC + 50

+ 2455 Day

+ 10075 Week / Month

47650 Shares

140990 Shares / Mth
More...

Hey Bob,

Great thread... keep up the good work.

I imagine from your post above you are mixing discretionary trading with automation. If this is the case, can you elaborate on your style... if not, no worries.

Take care,
B
 
Hi Bob,

I have been following your journal and results...great work!

It seems that you like to trade stocks as they approach their moving avgs. Is there a particular program/ software that you are using for your filters?

thanks.
 
Not much in the way of trading oppertunities and the ones that I did get where mixed

No signals today but I did have a few qualified gaps.

AAP + 713

PCLN +548

ORLY was another gapping stock that at one time I had booked a nice gain and it appeared that I would book more. I didnt know it when I started to trade it but while trading a person in the chat room advised me that it had an earnings report during the trading day that was starting in a few minutes. Seeing how it gapped up my first thought was that this conferance would be really good and that it was leaking out. This was telling me that I should take my gains and run. The chart on the other hand was telling me this was overdone and it was ready to fall. I closed out a small part of the trade near break even but I should have closed out it all. Holding a posistion in front of a news release is not something I like to do. It moved up strongly and within a short time I was holding a big loser than I was still fading and I started to kick in the risk management and started to cover. It came back and I closed out most of the trade but then started to move back up. It then moved back to the point of being overbought again and I shorted more. Holding overnight - 268

I closed out of GE FEB 10 Puts today even though yesterday I had hoped that they would close out Friday out of the money. I took a small gain so that I did not have to risk having a winner turn into a loser. GE has almost been in a free fall and I was not ready to take on more of it. I still think its a great company but I can take another look at it next week. + 69

WFMI, traded back and forth + 88

+ 1152 Day
 

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Quote from Bootsie:

Hey Bob,

Great thread... keep up the good work.

I imagine from your post above you are mixing discretionary trading with automation. If this is the case, can you elaborate on your style... if not, no worries.

Take care,
B
More...

Hello B,

Thanks for saying so. Yes I use discretionary trading when things are slow.

My style is that I look for overbought and oversold stocks and I fade the moves looking for the stocks to move back towards the mean

Thanks and best of trading to you

Bob
 
Quote from ebayuser:

Hi Bob,

I have been following your journal and results...great work!

It seems that you like to trade stocks as they approach their moving avgs. Is there a particular program/ software that you are using for your filters?

thanks.
More...

Hi ebay,

Thank you. Very kind of you to say so.

I use Tradestation for my scanning and now use both tradestation and ninja for charting.

I had too many problems with Tradestation with multiple monitors and gave up on it. Now with Ninja it seems to work pretty well.

Have a good weekend and best of trading to you

Respectfully

Bob
 
Back from the trading expo and I would like to say that I am all rested up and ready to go today but indeed I can not.

Saturday night in NYC was simply a blast that I will remember for a long time. Was able to meet a lot of people from the board and truely a worthwhile event. thanks SURF for hosting it !!

Not much going on in trading. I was able to trade the two watchlist symbols and both turned out well. I added some scalping to UAUA to finish the day.

CECO + 1368

MYL + 710

UAUA + 83

+ 2162 Day / Week

+ 41687 Month

I also traded a large amount of shares from all the scalping that I did.

~ 90K shares today
 

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Pretty much an uneventful day. I was able to make a few trades and they turned out good.

Only a few stocks traded today and for the most part a very stress free day. No signals today so I just scalped all of them.

PWR, + 128

MYL, + 122

MVL + 913

JWN + 160

HLS + 681

DRC + 885

CECO + 132

+ 3024 Day
 

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