|Red line indicating entry, I front ran because heavy selling|
Thursday, April 4, 2013
Today was a quick day for me, I had a few short plays I was keeping my eye on off the bad weekly jobless claims. I particularly was keeping a close eye on $AAPL to break through its support at around 430.30. As you can see on the chart there was initial buying at the open, then it began to pretty much free fall, which is what lead to my conviction in entering this trade early, "front running". I entered early I would say around the 432 range as it continued to free fall. took my profits and got out. It is pretty much inevitable to leave money on the table in these type of situations, $AAPL volatility can lead you to question the follow through in a move so I removed my self 428-429 range. Nonfarm payroll is released tomorrow, the price action should be interesting, Im personally bearish.
Monday, January 14, 2013
Okay so lets start with AMZN$. Although the futures were down in the morning some stocks stayed green striving for higher highs, like amazon. The entry was at 270. breaking last weeks HIGH on monday, crossing over this high shows good strength but stops are always recommended. Here is a 10 day chart showing the entry and where the break out occurred right at the open
This is a 10 day chart with 10 minute candles just to give you a view of the break out past last Mondays HIGH. (about 270!)
This chart zooms in on the action, as you can see I have label two entries and exits. I prefer the second because trading volume is very frantic in the first 30 minutes of trading and we're not here to chase gains. As you can see at the open, you had an opportunity to get in at about 270, keep in mind with the early heavy volume, you will see spikes, that can make filling your order a hassel. If you got in, and were prepared for exit, with a stop in place to limit risk, you could have been in and out of the trade very early to start the day. If you held off (smart money) and waited for the early dip (THAT DOESNT ALWAYS HAPPEN) so be aware and careful (USE STOPS!!! YOU CAN ALWAYS RE ENTER A TRADE!!)...you had another prime opportunity to buy around 270 around give or take 10:20-30. This entry gave you a more relaxed position as you can see, but your time in the position takes patients. AGAIN.... IF YOU GET STOPPED OUT. OR A TRADE DOESNT WORK OUT. RE ENTER IF THE SET UP IS THERE, IF NOT MOVE ON!!!!! I cant stress this enough. Anyway if you took this entry chances are you got PAID! and AMZN$ is not done so keep eyes out for a pull back, and be aware of MARKET FLUCTUATIONS. economic data can destroy a set up, or even destroy a current position. SO BE AWARE! GL!
Moving on to PCLN. PCLN$ entry was 660, if you bought it bright and early, hopefully you held it through the dip, which I usually wait for to enter position, unless momentum is extremely high (LIKE I SAID DIPS DONT ALWAYS HAPPEN) on any given day, the initial pass of 660 could have been your only opportunity which leads you to having to strategically place your stop so you dont get stopped out, but dont have your whole position value at risk.
660 was the entry confirming strength from last week, expecting a break out, which happened, protected with a stop for LP (loss prevention)
As you can see there is a BUY point in early trading with high volume, and two peaks in the candles with sell signal. This kind of execution requires you to be on point with getting filled in a timely manner. Like I said, there are plenty of opportunities everywhere with options, so there is no need to chase gains like in my opinion, this trade would be doing, although potentially successful, i would much rather confirm a 660ish minor support as you see at the two buy point that were reached again, enter there, and have a nice escalator ride up to your exit when weakness is shown. Hopefully anyone who entered this trade regardless of when, was successful and got PAID! GL ALL
more posts and live video positions to come!
Saturday, January 12, 2013
Okay, I took a little "fiscal" break on the side lines, because as far as im concerned, the political games whip sawing the market with uncertainty can be left for the gamblers. Al though anyone long through the cliff got PAID....I was all CASH. So far into January we've had a lot of bullish momentum in the financials, I entered a few positions in FAS$, and GS$ for quick scalps. These financials still look attractive to me, along with JPM$ and C$, at the right entry of course. You're looking to get long these stocks (using options) above their last weeks high with a stop at break even or wherever you feel comfortable (MAKE SURE PRICE CONFIRMS STRENGTH. Ill be also keeping an eye on AAPL$ GOOG$ PCLN$ AMZN$ XLF$ FB$ XLI$ and BIDU$. Will post charts coming soon, along with entries, positions, and stops. Video tutorials are in the works as well. GL next week all.
Wednesday, October 31, 2012
|3 month chart testing 200day (bearish channel)|
|Intra day low support of 587.50|
Tuesday, October 30, 2012
|3month daily chart $WMT|
$HD Home Depot, could be a potential move for obvious reasons. Home Depot is the national standard for home improvement followed by $LOW Lowe's. Both these companies are going to be the go to for personal repairs and renovations, along with the contractors insurance companies hire to do the work they are obligated to provide. You're going to want to keep an eye on all three of these stocks to look for movement in the pre-market, DON'T CHASE THE STOCK. Like I said above, the move is either there or it is not. Review the technicals, be aware of the market trend, and any stock related news prior or during market hours.
As you can see in the $HD chart, you might say it looks some what bearish, looking to test the 50day at 59.11, current stock price is at 60.04. We want to see bullish pre market action Wednesday morning for a set up. Three near term resistance points to keep an eye on are 60.31, 61.06, and 61.89.
|$HD 3month daily|
$LOW 3month chart you see moderate growth of the stock perform with the market, or some what bullish. The past couple days have started a short term down trend below the 20day, so you want to be looking for it to not only break that down trend, and break above the 20day, but also break through resistances 1, 2, and 3. The stock price is 31.36, and the resistances are 32.16, 32.40, and 32.62.
Good luck to all.
|6month daily chart testing 200day|
Also huge news at Apple that could be a short term directional indicator of mass psychology on wall st. senior vice president of iOS software, Scott Forstall, is set to leave the company next year after close to 15 years with the company, along with John Borwett, Head of Apple retail. These are real key players at Apple, and al though the market has been closed for the past two days, 10/28, and 10/29, I am eager to see how the market reacts to hurricane sandy, and the reaction to the recent Apple miss and executive "shake up".