As covered on my Stocktwits TV show tonight, I am neutral on the market, as I was last week and the week before that. Why? We are still in a neutral range, as marked. The COMP and RUT have different patterns developing, but both are also neutral. I am increasing focus on the dollar stocks again. It’s just that time of year.
The sectors also spell out “neutral”. I never try to force one side of a market unless I am more than reasonably sure that I have a high chance of being right. Instead, I just go with the individual stocks that work.
Gold went parabolic and I believe it will see a longer consolidation period. After that, who knows. The USO also is neutral as marked by a descending wedge.
In the end, never forget the higher probability trade setups. They will save you from a lot of unnecessary pain.
NLST
Bought $SQNM 4.60
Bought $RNWK 4.14
Sold $SQNM 4.52, Bought $NLST 5.75
Sold $RNWK 4.11, bought $SQNM 4.65
Out $SQNM 4.58 – pure chop
how to check on your show tonight, CA
i was told that Livestream did not record it. That sucks
Damn, I was going to watch it today. They blow.
Use Camtasia Studio to record it
Sold $NLST 5.80
JTX
SEED
AONE
Bought $SEED 11.76
Sold $SEED 11.84
FBP
JAZZ
TLB
Did anyone record last night’s show and could share it?
Stocktwits told me that livestream failed to record the show. tech difficulties
Hey CA,
For swings, when you say your entries are based on the intraday and you buy right when it breaks out, where do you place your stops and how do you determine your position size then to ensure you are not taking on too much risk? Do you use the 15 min, 30 min, 60 min to ensure it holds the breakout level before entering? Or would you maybe wait till near the close to ensure a close above resistance? However, if you wait for the close, you may miss a big move on the breakout?
I’m just concerned about buying stocks breaking out early in the morning above resistance and then closing below resistance on the daily? Any thoughts/advice would be great! Thanks!
TraderKeith-
If you look around here on CA’s tab you will probably find posts that address your questions.
My opinion- if you have to avoid daytrading, you will need to carefully consider overnight probability and risk at all times. That is, you game plan might be finding things that are going in your direction all day and likely to continue overnight, or finding high probability overnight trades for late day entry. Finally, you need to plan in advance how you will handle what happens at the next day open.
I am actually not swinging anything right now because I don’t trust the overnight environment and I don’t feel like waking up to potential losses. I get in as a stock breaks out, it’s a risk that I take. Sometimes, on a longer short-term horizon, I will get in at the close of a b/o but only if the stock breaks and closes above daily resistance.
FBP moving
Bought $NLST 5.71
NLST moving again
Sold $NLST 5.78
Bought $JAZZ 829
vci
HITK
Back in on CVVT… it’s been a long time watching it.
Bought @ 9.40
The big seller, Pinnacle is done it looks like at this level, should go straight to $10, but this is a longer term hold
Bought $HITK 24.29
Sold $HITK 24.34/35
Sold $JAZZ 8.22
VCI
CA- Book recs please? Are they listed somewhere?
http://astore.amazon.com/wtc0c1-20
Long DYAX 3.45 for the oversold bounce.
NLST break out
rounded intraday bottom? in GMCR
CVM – suddenly up on huge volume, no news
RWC
Symbol RWC- RELM Wireless Corp. announced that it has received an order from the Department of Defense (DoD) valued at approximately $750,000 for the Company’s Rapid Deployment Portable Repeater (RDPR). Approximately $32,000 of the order will be fulfilled in 2009.