My thoughts on GROW: up 1.80 from its lows today , however MFI is pointing to an over-bought condition on the dailys, as well as a bearish engulfing pattern. I missed the last pullback...should I buy now at the cheap in favor of the long term trend on the weekly which looks bullish??....OH so confused. Every time I trade this stock I get killed, and I really want to get this right this time.
3/26 - 3/29/07 Bought 10 goog @ 462.17 Sold goog @ 464.79 stop: 452.17 pt: 472.17 profit: 12.20 review: I'm not pulling in the kind of $ that I want from the past couple of trades. GOOG was just one of those trades I made for fun, and didn't expect to make much off such small size. Other trades I got comming down the pipeline are: CCRT (long), DWSN (short), and LEH (short).
3/28 - 3/30/07 Short 100 LEH @ 71.07 Cover @ 70.66 profit 27.00 review: After the bounce on the 29th, I must have gotten scared and covered. I need to start writing down stuff before the trade, because I cant remember what my stops were..if any. Again, another small profit.
Looking at CAL as a possible buy http://stockcharts.com/h-sc/ui?s=CAL&p=D&yr=0&mn=4&dy=0&id=p21011395105 Good news came out about this stock making it gap up. Daily indicators look positive. Earnings are on the 19th of April. --- CFC http://stockcharts.com/h-sc/ui?s=CFC&p=W&yr=2&mn=0&dy=0&id=p82044474399 Near major support, but indicators dont look real positive right now.
3/29 - 4/3/07 Short 100 DWSN @ 49.89 cover DWSN @ 49.28 stop: 51.59 (1.70) cancled pt: 44.79 (5.10) profit 47.00 review: Stock not moving down as expected. Also the stock was making higher lows, which is a bullish indication. And the small real bodies were also reason for worry. ----- 3/30 - 4/3/07 Short 100 LEH @ 69.89 cover LEH @ 70.59 stop: 71.22 (1.33) stop cancled pt: 65.90 (3.99) profit - 84.00 review: I cancled my stop because the stock opened/ closed higher. I got out .40 cents from the top, so I saved a little money on this sour trade. ---- 3/30 - 4/407 Bought 100 CAT @ 67.18 Sold CAT @ 67.50 stop: 66.80 (.38) cancled pt: 68.35 (1.17) profit: 18.00 review: Sold this position to make room for CAL, and GROW.
Looking at: 1. Buying the dip on NYX..currently down .82, long term trend is still strong. The gap down yesterday on high volume worries me somewhat, but from looking at the chart, gaps are common, but still... 2. CAT, would like to re-enter this stock. Looks like a ascending triangle on the dailys, and a break here would help break the congestion on the weekly. 3. SNDK, I was short this a while back, but now I'm looking to buy in favor of the trend. Momentum is slowing, and that is really my only concern at this point. 4. CFC, near major support on weekly chart. --- open orders: buy limit CFC @ 33
3/30 - 4/12/07 (18 days) bought 50 CCRT @ 31.09 added 50 @ 33.00 (on 3/22) Sold 100 @ 33.91 profit 165.50 review: I gave myself the patience to wait out the week and ahalf correction that happened right after I added to my position. During the correction, I was thinking about fib retracements, and how this was about 38.2% pullback. I wish I traded larger size though. ----- 4/4 - 4/12/07 Bought 100 CAL @ 39.72 Sold 100 @ 41.39 profit 153.00 review: Bought on both technical and fundamental data. I read that CAL had higher profits from increased # of passengers, and the breakout gap as a result. But higher fuel cost lead me to take profits. --- 4/4 - 4/12/07 long 100 GROW @ 32.08 sold 100 @ 28.32 stops: 28.32 profit - 390.00 review: Good thing CAL, and CCRT softened my losses, but I'm still mad that those two trades are now worthless.....waited alllllllllllll that time for nothing. My stops were wider this time, but clearly, it was my entry that was the problem. This is what I HATE ABOUT LONG TERM trading. You wait forever, it gives you hope, then brings you down hard..I have yet to land on any feathers.