the market hovers

monday 05182009

the market hovers so we have to trade

in and out
out and in
long and short
short and long

take a look at the nasdaq bullish pecent and the weekly wilshire both bullish, but both suggesting that the upwards price action
is slowing.







with the bullish% and wilshire where they are i say either step aside or trade brilliantly long.
we could fall, bullish% or rise to resistance or even break-out through resistance, wilshire.

today 05182009 i was very smart with two long 1% positions:

i sold, closed gnw up 10.5% since 05142009

i sold, closed ahr up 10.5% since 05182009( a day trade)



remember, don't look back, ca$h is the king!!

my screen showed me ahr early in am. i quivered getting long. i could have just bought at $0.93,but hesitated.
after 2 hours of watching and salivating at the possibilities i placed an order at $1.15. when my order filled i said to myself, "today is a very good day!!!"
 

Posted via email from fortypercent's posterous

Trading and the eye of the tiger

my 1% position in GNW is going pretty well. closed up about 6%.

not bad.

 

however, as i watched GNW traded up almost 11% above my entry. in just an hour that beat the return of one of my dividend payors that i've held for over 3 months! whoa, 3 months return in only a few minutes! my finger trembled! i wanted to sell GNW and realize my profit. 

 

couldn't do it. i held GNW and it moved down from there. six percent in a day is nothing to be sad about, but still 11% in hand would have been even better. with the market getting top heavy all new postions are for trading.

 

the market is always completely impersonal and cold. trade for yourself ruthlessly.

see each trade through the eye of the tiger

Posted via email from fortypercent's posterous

GNW!!!

market bouncing, but still there is resistance to be met at the 200 day average. be careful.

 

can't post a pix now, but i took a 1% long position in GNW. placed the order at the 200 period average on the 5 minute chart. one hour later this one is already up 5%.

that is great action, but also means traders are all around. charts suggest momentum could carry this to about $7.

 

again, be careful!

Posted via email from fortypercent's posterous

one for settin a wide stop and planning to "buy and hold" long-term

PBI is so tempting. an apparently very safe, 6% dividend and upside of 20% - 30% gain in the coming one year.

once my cigarette play( LO) is done, PBI here i come!!



please do homework. this is not a trader. this is a set it and forget it company and stock

Fun Trading

Posted via email from fortypercent's posterous

Market on the fence!!

this market is on the fence and waffling. we could see 7 - 8 percent correction or go higher.

my stop on SSO got taken out, but my charts don't confirm SDS as a buy and weekly charts are pointing down, but not confirming the correction yet. certainly no new positions until bull or bear declares.

 

i'm getting killed on my remaining 0.5% LEA position. lesson learned.

 

stay tuned, we're Fun Trading.

Posted via email from fortypercent's posterous

traders only for wednesday, 05132009

BZ

we were stopped out today with about a 40% profit after holding for 3 sessions. BZ doesn't show in my screen today, but we may take another bet. do your homework before even considering.



RAD



RAD was good for today. This one has a good run left in it. lets hope the market agrees. price action is very bullish. again do your home work. set and stick to stops. any out-sized profits means take some money off the table to realize some cash!

look for price action early and enter on temporary weakness.

lets have some Fun Trading!!

Posted via email from fortypercent's posterous

funky trading day

sorry readers, i'll need to learn how to post better. my last post left out some good charts.

from yesterday's post, our trader, RAD did the best. other picks fared as did the broader markets.

as i pointed out. the market is up against resistance. today it stalled.

the  coming days trading will be telling if a correction is starting or if the run continues.

 

the LEA trade i mentioned a few post back is a trade gone bad for me. it is a very good example of being suspicious of the market for a stock and not being decisive. the lesson learned is take a profit and don't look back. be swift and ruthless!!

 

that's fun trading 

Posted via email from fortypercent's posterous