Mike's Swing Trading Journal

Goodpunk..

I also dont solely trade for a living. I have another "real" business that makes me a living.

I would not recommend swing trading full time.. unless you are a pro and move massive size. Most of the time.. you do nothing and the day can get really boring. I need to interact with others and have a real life. Plus the fact that I have consistent money coming in from my business helps when its time to take losses swing trading. Believe it or not.. i realized it makes a big difference.


--MIKE

 

Out of positions.. i think the market is oversold.. nice day today for me. I am now slightly over breakeven from the start of the journal KBH & MON were nice quick trades.

Market is oversold and ripe for a bounce.

 

Building a 500 share position in MLNM.. scaling into it slowly.

 

Going 300 long Cree... scaling into it.

 

300 cree avg price @25

500 mlnm avg price @ 8.86


I always scale in and out of positions.. so it takes time to figure out my avg price. Anyways.. these 2 stocks were pretty strong and have decent chart patterns.

I am playing it very light. I dont want to short anymore because the easy money on the short side has been made already. The better odds are now for some type of relief bounce.. and playing the strongest stocks if market does get a little bounce.



--MIKE

 

I will probably only short again.. if the broader market gets a dead bounce.. because that will increase the odds.


--MIKE

 

hi mike,
I have the same sentiments as you

not putting any new short positions, don't care if black monday or white sunday , this market fell to fast, and thats scary to me.

waiting for ab ounce, but not going long though I've noticed longs in a bear market seem real volatitlte and jumps all over the place up down up down up down till one day it finally gets over that slump, not smooth enough for me.

just sitting on the sidelines and fiddling my thumbs

you are going long on CREE?
I was going to go short on CREE, but noticed they had new earnings, guess no short then, good earnings changes the picture.

 

I dumped everything in the moring. No long/short position.

 

WC- long orderly pullback setup.

Buystop at 55.92 for 100 shares.

 

Insurance/Accident/Health group seems in trouble. Many stocks like CNC MOH AGP and WC were down a lot on heavy volume on 4/14. Looks like better to wait for more a few days. my 2c