Wed May 29, 2013 11:18pm ESTComments Off on It Is Hard To Ignore a Spicy Burrito if You Know What I Mean
If you have a speculative fervor and the funds to back it, you should take a close look at the Chinese burritos. The Chinese burritos are yet to bloom their majestic flower. When they do, it will become a showpiece in your garden, standing out from even the most brazen flora.
From the lot, reveled for their flawless financial statements, my favorite is hotel operator HMIN. I’m certain millions of displaced Chinese labor opts to live out of these budget abodes, uncertain of the duration of their stay in the factory towns they spend their lives in.
Look at the huge measured move setting up on the weekly chart:
I like to get out in front of these measured trades, just in case they don’t work. If we’re not imploding tomorrow, I’m a buyer.
Wed May 29, 2013 4:25pm ESTComments Off on How ‘Bout Them Royals?
We just wrapped up another neutral day in the spooz. It’s funny, these neutral days, sometimes referred to as normal days, are very rare. Yet here I am, for the third time this month bringing one to your attention.
The trade is so telegraphed, it’s treated me well. I didn’t take it today because I was pulled into a meeting, but damn listen up: when you get a wide range during the first hour of RTH, then there’s range extension in one direction (today lower) then dynamic price action takes us ALL THE WAY to the other side of the profile and we get range extension in the other direction, there’s a HIGH probability price will return to the mean before doing anything else. Awesome and amazing, yes yes yes?
Anyhow this type of session often precludes turning points in the market. Hopefully, the turn is to the higher because I tossed on a bunch of risk into the bell.
I sold my AWK investment today. It felt odd, I’ve held it for a very long time. I feel without it, if you know what I mean. But I’ve made so much in the name, it has come so far, and Yields Are Under Attack. I booked it. Remember, I swear no allegiance.
This put a ton of cash on the books and all the sudden I was almost 50 percent cash. Down here!? It was too much to bear <sic>.
I went shopping.
I bought DDD this morning, and then I bought more in the afternoon. I don’t like this stock very much yet. It has all the makings of a bull trap, if you ask me. Why am I long then? If it opens higher it will rip heads off.
I added to my RGLD long. Sometimes, when you feel like taking profits, that’s the best time to buy more.
I bought RVLT. It spiked hard. RaginCajun highlighted it very quickly, I just clicked the button. The stock is on my “always stalking” list. I trimmed a bit of bread off to place on my table into the closing bell.
I added to my SNDK weekly options, $57.50 strike. This stock, like DDD, is tricky in that it didn’t quite signal. I would have liked to see yesterday’s high taken out. Hand grenades and horseshoes I suppose.
I’ll either feel very smart, or very busy tomorrow morning—trading my way out of the paper bag I built. Something about making money in these markets makes me want more. Patience.
Wed May 29, 2013 11:15am ESTComments Off on Morning Trade Report
I cut DECK early, booking a small loss, it appears I sold near the LOD. Water under the bridge, the stock is chopping about.
I took 8 trades in the $ES_F, 6 winners and a solid green day. I’m calling it a day in the futures unless we see a major development. I like the idea of stringing two winning days together and I don’t want to blow it. Two trades were taken outside the plan, one was a scratch and one was buying the VAL I highlighted this morning which was my second best win of the day.
We’re in a major balance zone. I’m looking at big names like GS and F which had contra strength early on, and just took a big fade. I want to see how participants react/receive this fade.
There was a nasty selloff in TLT but you can read “The Fly” to get a better interpretation.
RGLD and miners as a whole continue to be a beaten down sector. Optimism in the space fades to indecision and back again on an hourly basis. Such is the case when you’re tra la la-ing across the bottom. It’s scary, especially if you’re a political investor.
We had a huge range today in the S&P. That meant only one thing, opportunities. I continued trading the mini contract all session, mostly to the short side and then long again approaching the final half hour. It was by far my best performance in the index yet. All hail the memorial weekend!
After taking some paper trades in the AAPL weeklies over the weekend and seeing what type of beast it really is, I’ve dabbled in a very small way by purchasing some SNDK May week 5’s on the $57.50 strike. They’re really cheap, and it makes sense to risk the entire amount, essentially. Feel free to throw rotten tomatoes at my virgin attempt using options, I normally trade common. I’m a trial-by-fire learner so after I understood the risk, why not?
Other stock action included selling NXST. Fly popped into 12631 and sold a few low conviction names. If you read my reasoning behind NXST you could easily conclude my conviction level was low low low. Sold for a small scratch loss.
I also bought some NANO today. Nano technology is one of those things that promises so very much, like a politician. I did a PPT dig on all company profiles featuring “nano” and simply put I settled on NANO and UTEK.
I’ll be back around, same time same place, to gather some insight into the markets with these profiles in the morning.
I tried catching the falling knife that was NFLX this morning. I went long at 222.50 and stopped out around 218.75. I’m not sure what has the stock so weak this morning, but I was playing for a snapback.
I had an early picture to go long $ES_F right around the opening bell but never got my fill. The next look came to the short side just after 11am and I took two contracts for 1.5 handles each.
The spooz are still threatening more downside action, I noted the single prints from 1663.50 – 1659.75 in my morning look. If we trade through 63.50, I would be prepared for a swift move to retest the 1660 level. However, the big move last week is looking corrective in nature with the trend upward still very much intact.
Whoever made the decision to schedule Memorial Day here was on to something. The placement of this much needed rest is divine. I spent the weekend decorating the graves of my losing trades. Most trades receive a solemn salute for their service. For others, I stopped and observed for what seemed like hours, with deep introspective of the events that led to the loss.
I reviewed every trade taken in the S&P this month. If only ironically but perhaps like a little galactic wink, there have been 99 trades. A blanket of inpatients was strewn over the field. And from the review a glaring bit of clarity emerged. I must stick to my plan. I have two data sets, one with trades taken according to my plan and the rest.
Check check it out:
Pretty good numbers on the planned trades. Something to build on, no doubt. But the thing is, I really like my unplanned trades, even though the numbers suggest I should NEVER trade anything outside my plan. So I hardcoded a nuance into The Plan which lets me have my cake and eat it too. The rule is inspired by the feedback I received from you guys and I appreciate your thoughts. Kudos gentleman, behold! Literary logic to protect my ass:
I will only trade other pictures (like profile support/resistance) if I’ve earned risk capital and with a ‘one round elimination’ format meaning trades can only continue to be taken if the prior trade was correct.
To break it down, I have to only trade my plan until I’ve earned profits. If at that point I really need to take an unplanned look, I have one shot to do so. Not two, or three like Friday. I always build risk into my trades and must be willing to forfeit 1/2 my daily gains if the unplanned trade is wrong. If it’s a winner, and I want to take another, the same rule applies.
Planned trades can be taken any time. Even after a failed unplanned trade. Make sense? If you hate it let me know.
I’ve gone over 100s of charts and screens and bloggers’ picks and have a few hot looks going into the week should the market bounce or even flatline. I’m a stalker long on MSPD, LSI, SNDK, NANO, and UTEK.
Try as you might, you can’t buy RGLD sub 50. Even when the opportunity presents itself, you’ll take to twitter and declare the next plunge in GDX.
Sometimes you don’t understand the force behind a play, but you go along with it anyway. Broadcasting stocks are strong, I bought NXST.
Heptics, get with it. IMMR
Your eyes are important. Take care to keep them healthy even if it means getting away from your monitor to see the doctor. No eyesight = no trader.
Utilities might actually die for bit. Frowny face AWK.
CREE might take some heat next week. I’m ready for that. I’m ready for lots of that. CREE is offering the EASIEST way for our country to reduce its energy consumption. They’re perfectly aligned with our administrations agenda, and they make lots of money. Hard to value but I continue to see all analyst coverage as short sighted.
FB is bracketed. If it comes unhinged and decimates investors again I will me very surprised.
INVN is another great story stock, I’ll tell you over a bonfire soon.
HAIN is quiet, HAIN is good.
DECK made a nice comeback today. I like comeback stories. I smell seller exhaustion.
ANGI has been my second most profitable stock of the year to trade. Who is to say I’m wrong at this juncture?
OMEX needs to find some sunken ship booty, stat.
Enjoy your holiday weekend. Electronic music invades Detroit in a big way every Memorial Weekend. I may partake mostly for the people watching. I’ll be in-and-out, preparing for to crush our shortened trading week come Tuesday.
Thu May 23, 2013 4:04pm ESTComments Off on Feeling Trigger Happy
I have lots of charts setting up how I like. After seeing about 10 of them, I settled upon NXTS, which is a random broadcasting company with a stock flying in the stratosphere. It doesn’t have much of a short float to speak of, but man the chart looks ace.
Anyhow, it’s getting faded into the bell.
I’ll be honest, for there’s no value for me in being deceitful on a web log, it felt like an obligatory purchase. I haven’t felt propelled to buy much all day. Perhaps it’s the Memorial Day, perhaps it’s the price zone we’re in. I’m not entirely sure. Maybe today would have been best spent foraging through the woods for mushrooms?
I like ANGI and I’m glad to have more in on that name.
I also bought INVN, same look chart wise, but actually a company I’m into. It’s the combination of interest in a company and an enticing chart that gets me excited.
It’s a modest green day, surprisingly enough, which makes me feel like we’re still in a market of stocks, and not just a perfectly correlated mess. For now I’ll take it.
I had three signals fire premarket that were victims of a choppy market, and were all stopped. Then when things got moving, the setups were of a nature which I still trade in simulation, and no additional live trades triggered.
Ironic as it may seem, all this early movement was not captured by the Raul.
Aside from the futures, I’ve added to my ANGI long. No other trades yet to report.
