Seriously tempted to close all positions and wait out a retrace that I'm sure is on its way. Everything is looking good except UAN. Not quite at the puke point yet but getting concerned. +30 UCO *edit- the correct thing to do is add size on the first retrace, of course. Waiting to see if I have the guts to do this, when the time comes.
I don't have anywhere else it would make sense to post this, but you mentioned you'd like others posting p/l. Here is a current SPY trade I have on. I bought 50 shares, then added 20 shares twice, and finally added 10 more shares for 100 total. I am following (trying to, anyway) Livermore's dictum: So long as the market is acting right, I'm not going to be in a hurry to sell. I don't have a forecast currently. There is the obvious 50-day moving average that all the CAN SLIM traders will be watching at $388. I am also mindful of the gap between the 9/12 close and the 9/13 open, which is $403 up to about $411. The 200-day moving average is up at that upper level today. I am watching for higher targets, but if the market turns sour, I will close and even reverse depending on context and signal. Open trade p/l has ranged from about -$150 on the day to as high as +$525. That is the nature of swing trading. I have no stop in mind. Will judge the market day by day.
I started buying Thursday and finished by the end of the day Friday. As long as the market is acting right, I will not be in a hurry to sell. I'll know the market isn't acting right long before it gets anywhere close to my average cost. If it takes back more than 50% of the rally and I am still long, I'll be looking to exit if price doesn't firm up.
Thanks for posting your positions. Had to scratch the itch, sold OXY for 20.70 total profit. Total closed profit so far: 414.27
I averaged up. I won't say I never average down, because sometimes I do stupid things. My plan only calls for me to add if price is already showing me a at least a small profit. On Thursday I bought late in the day, soon after 3:30PM. SPY was trading below the low of Wednesday and twice tried to go lower than 365 around 2:30 or so. Then it rallied above Wednesday's low, and it fell back again trying to go lower than 365. Again, it couldn't keep it below 365, so I bought my first pilot buy there. I added around 9:45AM on Friday. If you were watching at that time, you would have seen that big burst off the lows by the ES in the Globex. Then, right before 9:45, a flurry of buying came in and I added then. I finished the adds by buying some more after pulled back from the morning highs, probably right around 11 AM. Then the final add was when price broke Thursday's high. I don't keep secrets. I watch a weekly and daily when looking for swing direction. When I think it is time to stalk an entry, and I don't have an obvious place, such as a buy stop above a high, then I'll use the 30 minute and watch the price action. I look for bursts of activity, especially when price does the opposite of what it looks to be trying to do. On the daily, I was looking at Tuesday, Wednesday, and Thursday as a small bull flag. That is why Thursday afternoon I started paying closer attention as SPY was hanging out at Wednesday's low but not making any real effort to sell off. I'm not really a chartist but I do find them to be very useful tools. Maybe I am something of a chartist. What I really like to act on are those bursts of strong buying to get long, or bursts of strong selling to get short. I will use charts too though, and sometimes I take a position before there is an obvious burst. The moving averages are the 21 ema, and the 50 and 200 day simples.
Couldn't take it anymore. Sold DE at the swing high for 176 profit. Total closed profit 590.27. Probably going to have to buy it back soon.