entered MTEX this morning @ 13.49. even tho it reached FRV, I sold 1/2 my position @ 14.70 for a 9% gain. I was really tempted to hold onto the whole position since FRV was reached and it looked so stong, but I wanted to lock in some profits.
Nice job. Keep up the great work. I see nothing wrong with locking in profits after a 9% gain. Again, nice work on the MTEX trade. For some reason, I neglected to write down MTEX onto my trading sheet today. As a result, I failed to monitor MTEX at all. I hope more traders, such as yourself, traded the signal and profited significantly. I did make 4 trades today totaling 4000 shares (round trip). I took the hit on CKCM this morning when price crossed the Stop Offset line, but rallied back by holding CERS, SIRF and NTRI into the late afternoon. Ended the day +149. Not bad, considering the $213 USD loss to start the day. although both SIRF and CERS reached FRV levels, I opted to close out all trades and start fresh tomorrow. - Spydertrader <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1010236>
Thanks Spyder. great recovery from your initial loss today! i didn't have any of those stocks in dry-up from the scan. were they "eyeballed"? just curious as I'm trying to follow the system as closely as I can so that I remove the "emotion", which always gets me in trouble, from the equation.
I did have NTRI in Dry Up for today according to the data supplied by QCharts. Probably another 'data source variance' issue as we have seen many times in the past. Two other equities (SIRF and CERS) looked nice under Jack's 'Bruno R' set up during my nightly analysis. CKCM (to me) look to be setting up for another 20% run and forming a nice bottom. The last time CKCM set up this way (12/22/2005), price dropped pretty significantly before running up over 20% a few days later. I had hoped today's drawdown of CKCM would stay within my stop offset line, but unfortunately it did not work out that way. As a result, I plan to continue to monitor CKCM looking for a repeat performance of the December run up. With respect to you following the system, it appears, to me at least, that you continue to do well. Continue to focus on execution and the profits will follow. - Spydertrader
Missed out on MTEX this morning, my stochastic only got to 77.24 before the breakout... such is trading. Automatically entered ENG at 11.09. Stopped out at an average of 10.85 (2% loss). Exited BTUI at 14.55 this morning due to failing to reach FRV the previous day (entry was at 13.96 = 4.23% gain).
Dry Up Stocks - Thursday BTUI CKCM FORD IIJI SFCC TIE TXCO I also plan to monitor CTHR, ENER, CERS, SIRF and NTRI. - Spydertrader
I jumped back into CERS this morning in a pre-market trade anticipating riding the trend even higher. Almost immediately after the open, I noticed the trend had changed, and I sold everything off just before CERS crashed. I walked away with $12.00 USD - enough to buy a couple of pizza's from Domino's. - Spydertrader <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1011071>
I sold off all my shares yesterday, and neglected to check back on it this morning. Don't I feel brilliant right about now! I hope a few of you caught NTRI either this morning or yesterday, and obtained a nice profit from the trade. I have to run now, the Domino's Guy just rang the door bell. - Spydertrader