Momentum Scan - Some Stock Picks

What are some Momentum Stocks? Here are a list of some that look good to me in the various price categories that I use. Note: Positive and Negative Cashflows do not mean they are bullish and bearish plays. You have to understand how to read a price chart, see the pattern and put the cashflow in context with the pattern.

Above $100 (Positive Cashflow):
  • SPY
  • WYNN
  • AAPL
  • FCX
  • MA
  • GS
  • BIDU
  • SLB
  • GRMN
  • NMX
  • RIG
  • LVS

Above $100 (Negative Cashflow):

  • FSLR
  • BSC

$75 to $99.99 (Positive Cashflow):

  • IWM
  • CHL
  • DRYS
  • XLE
  • RIMM
  • XOM
  • PRU
  • BHP
  • CVX
  • DVN
  • VMC

$50 to 74.99 (Positive Cashflow):

  • EWZ
  • QQQQ
  • LEH
  • BGC
  • CROX
  • SNDK
  • EMR
  • UPL
  • USO

$50 to $74.99 (Negative Cashflow):

  • SUN
  • BIIB
  • LDK
  • FMCN
  • UA
  • PG
  • TSL
  • HES
  • TXT

Many of these stocks are at Pivot Points or nearing them, so these are great areas to bracket trade, meaning allow the stock to tell you which direction it wants to go. Don't forget to set appropriate stops once you are in the trade.

The scan that I have came up with 217 symbols and obviously that is far too many to look at. Even these smaller lists are too many, but if you see your stock on here or some that pique your interest, check out their chart and see if it's worth trading.

This is NOT my recommended stock list, just me going through my scan very briefly and looking at the chart VERY briefly to see if there might be a good play. I liked things that did not look to messy and easier to play. But, that's just at a very quick glance.

Sorry there are no charts or an explanation of each symbol as to why I thought it might be good, but I gave the loose, eyeball criteria I used. Most all have averge daily volumes of over 1M.

Organization

Well, I was not able to do what I thought I had time to do today. Been distracted with other things and didn't get all the trading done I desired. I saved a bunch of stock charts, but unfortunately, I don't remember which stocks I was working on for charting nor did I date the charts. SOOOOO, I have none to share with you at the moment, nor do I expect to tomorrow.

My trades will have contingent stops as Fridays are when I do more Mommy duties. Maybe I'll take my laptop with me. I don't know. Distractions galore.

There is definitely room for improvement in labeling my stock charts or perhaps keep folders by dates. I don't know. The folders by dates sounds better and probably easier. We'll see. This weekend I have more tax stuff to get the accountant, and I'll better organize my laptop.

$VIX, $SPX, Write Offs


I thought (yes, thought), this pattern was going to be a Mat Hold pattern. For those who aren't familiar with that, it's a Rising 3 Method that does not retrace and confirmation of the pattern is a bullish candle above the prior close of the bullish candle before the 2-4 days of testing.

Since we have now exceeded 2-4 days of testing, this now looks to be a stairstep pattern without the bullish confirmation.

What will it do? I really don't know, but if you're playing this or any of the S&P derivatives like SPY or $OEX, contingencies for bearish and bullish plays can be made, one canceling the other. Let the stock or index tell you which direction to pick.

If the compression pattern is big enough, those might make some great daytrades, but only if you get in near the pivot points going in the right direction. Otherwise, if you cannot do manual intraday moves, wait until it breaks one of the pivots points in the correct direction (i.e., top one is bullish, bottom is bearish).



The $VIX looks like it's believing the market to be bullish (sorry, Tim), as the $VIX continues to go lower. Perhaps it will find support at 14 or 12? I'd like to see 12.
We're also coming up to the season where the mutual fund companies begin dumping their portfolios of the speculative stocks and replacing them with your good ole household, reliable stocks that people like to see like you GM, IBM, MSFT, etc. type stocks. From what I understand, they don't have to divulge that they have the other speculative type stocks through the greater part of the year. All they have to make sure is that by year end....thinking that's in the Nov/Dec timeframe, they have what is perceived as "good, solid" stocks in their portfolio.
Then, in the early parts of the year, like February, they begin dumping those slow moving stocks and replacing them back with the highly speculative stocks. So, we can begin seeing some transition of movements of money just for the sake of legal appearances.

SNHY, ACM


Confirmation of the uptrend occurred when the midpoint of the W was broken through. Nearest target is 38.

This stock has not been in existence for very long. See the horizontal lines for possible areas of hesitation or reversal.

Both these stocks look very bullish. Avg daily volumes on SNHY are rather low at 160K and ACM is fine at 730K.

Both these stocks are not big price movers relative to higher priced stocks. Though, both stocks do move and have decent moves that are relative to the stock. Patterns are nice. However, with the less expensive stocks, I've found that I need to buy more options, which means more commissions. If I can get away with buying a few options and making nearly the same amount of money in a shorter period of time, I'm thinking why would I want to risk more capital, taking longer amounts of time for the move, and spending more in commissions?

Just something to think about.
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Today

I've spent all day working on stock trades both funded and practice, as well as reviewing Ryan's Power Spreads DVDs, and going over some trading classes. My head sort of hurts, but it's probably because I've been very focused on stocks, as I have not had as much time the past few days, so I probably over did it today.

Looked at a number of stocks, which I'll share some of them now without any graphs because I have a meeting to go to for the rest of the evening.

CME, CMI, CRS, ICE, QQQQ, RIMM, VMW, AAPL, GOOG, RIG, BIDU, CHL, CROX, FCX, LVS, WYNN, TSO, LEH, GS, ADSK, XOM, MA.

Obviously I don't have time to go through or display any of these charts for now. If I have time tomorrow, I will post some charts.

If I have time this evening, I may make a list of stocks that pique my interest that are breaking out of compression patterns to potentially trade.

Sorry I haven't posted a lot. As expressed before, not sure how others maintain such fantastic blogs or sites. It's a lot of work and right now, if I'm trading, more of my time is spent towards trading rather than talking about it.

QQQQ, RIMM Charts


Since I never know what a stock, ETF, the market is going to do, keeping neutral is a good thing. Each of the horizontal lines and trend lines are possible areas for pullbacks or reversals. Look at the pattern and the likelihood of where things may or may not go. Monday's candle went pretty much where I had my lines drawn.

Though I no longer trade the Qs, because in order to make money for me, I have to risk much more capital than trading more expensive options of faster moving stocks, I'd rather learn the latter. Big moves suit me more.

But, many people trade the Qs, so here is my chart for it.



One of my friends has different lines drawn for RIMM, but with the exception of the extension of the resistance line, this is sort of my cleaner chart for RIMM where the lines have been drawn for a week or so.

Trading

You're probably wondering what the heck I'm doing, eh? Not posting a lot. I continue to practice and get my mind in gear.

I've had a lot of things going on and if I cannot keep track of my trades diligently, I don't want to be trading when I do not have access during market hours. The weather is just starting to be reasonable, so I want to spend time with my children, as they have been patient with a scorching summer.

Tomorrow is also another busy day of errands. I really thought I would have more time not doing my engineering, but in a sense, I have less time now, or at least it's scattered. In trading, I want to make sure my trades are good, with good execution. If I have too many things going on, that can be detrimental for me. So, it's best to let those things settle down until I can fully concentrate.

Today I will look for some stocks with the ones I trade as well as new ones that have good entries.

Many stocks look similar to the $SPX, which looks sort of like a Mat Hold or a Rising 3. I am trading cautiously these days as I do not know when volatility will spike back up.

The Mind

Trading is such a psychological game. Techniques, strategies and all that can be learned, but I believe the best traders are the one that not only are good at the techniques & strategies, but their psychological game is superb.

As a student of learning, if I find articles that are useful that I can share, I will.

This article that talks about being positive, reasons, and benefits is good: http://www.efflearn.com/positive_thinking_article.php.
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Doing

What have I been doing? I've been working on things in my life and addressing things, no longer allowing disorganization and procrastination rule it. That was mainly Monday and Tuesday, a little yesterday. Spent 17-18 hrs yesterday doing full documentation drills, analyzing charts and I got to collaborate for a bit with 2 different traders on some different trading methods from my own.

Time sure flies when you're having fun. My kids were gone for most of the day, so except for a brief errand, I spent the day at the computer. A couple times, forgot to eat, but drank plenty of water.

The stocks I did drills on were AAPL, RIMM, MA, RIG, CMI, CME, LEH, BIDU. It's nothing new, but I found my best trading is when I'm heavily involved in these drills. Many hours were spent on these. RIG I went back 4-5 months, one of the others, 3 months and the rest 2 months. I can typically do 2 months in about 1.25-1.5 hrs, depending upon interruptions.

Today I have GOOG left and I probably want to look at a couple other stocks. Not sure yet, but will go through my scans possibly.

No need to talk about the Fed announcement on Tuesday. You can go to other blogs or sites where they talk about those. No coulda, woulda, shoulda. I wasn't prepared to trade so I didn't. Yes, that was a huge day and we rarely get those, but it's okay. There are always opportunities in the market to make lots of money and with the stocks I trade, there are ALWAYS opportunities, so I do not feel like I missed anything.

A part of risk management for me is to not force myself into trades just because everyone else is jumping on the bandwagon. A part of what I'm doing is developing the mindset and disciplines to become a good trader. I'm learning to balance my personal life with trading, to manage all types of interferences, to organize myself for success.

There have been many things this year where dramatic changes have been made, getting rid of the "dross" in my life and filling those voids with healthier things. Shifts in paradigms. Frankly, I don't know how some of the other bloggists write so much, put so many charts on a continual basis. Maybe I overanalyze things? Well, the analysis that I do is what I need for how I trade.

My goal isn't to become super millionaire or change the trading world within the next year. Rather, it is to move from where I was, be profitable enough to afford to live well, to provide well for my kids and I, make good on all our debts & bills on time, and not have to work at some job for someone else, but own my own time. Yes, there is a dollar figure in mind, but it's nothing to knock your socks off.

Once my life is more stable, then I will focus on generating and building my capital more aggressively, but one of the things I believe for success for myself is the other areas in my life need to be in order, which includes my health, relationships, the environment I'm surrounded by, finances, business, and fitness. Things are always dynamic and will not be perfect. That is a given.

As I write this, my life is signfiicantly more organized & ordered in a healthy way than it was a month ago. With every passing week, as these things get more ordered, it allows me to have more focus on trading and making money. Simplify, simplify, simplify.

With all situations, whether we perceive them as good or bad, they are opportunities. We can either take a victim mentality by complaining, whining, and blaming, or we can stand up and say we are NOT victims, but we are victors. We have the mindset of a champion and champions are great managers of the interferences in their lives. Today again I choose to be a champion.

As a side note, when I awoke, there was something that happened that could've set me off into a wrong direction this morning. But, last night before going to bed, I was listening to the song by Benton Brown called "Everlasting God". Throughout the evening when I awoke, the words to that song played in my head. How it gave me strength and though my sleep was not real long, I felt power, rather than weakness.

He IS the everlasting God.

The lyrics are as follows:

EVERLASTING GOD http://www.youtube.com/watch?v=jP2nz6PG8KM

(2X)
Strength will rise as we wait upon the Lord
We will wait upon the Lord
We will wait upon the Lord

Our God, You reign forever
Our hope, our Strong Deliverer
You are the everlasting God
The everlasting God
You do not faint
You won't grow weary
You're the defender of the weak
You comfort those in need
You lift us up on wings like eagles

--------------------------

Note, actual time in trading is not very long, but the preparation for me to make good trades is all encompassing. Not sure how other traders that may have a lot of turmoil in their lives do it, but I've found those are huge distractions that I'm still working to manage. God is my faith and trust, but He gives me the time and resources so I can make good trades. I do not sit on my duff and screw around, but I'm constantly learning, honing my skills, reading, doing, asking, getting help, being humble.

Anyway, execution of trades in my virtual or funded accounts most likely will not take place until Monday. One of the things I believe is to keep my virtual trades EXACTLY like my funded trades. The only difference if real funds. My positions, the size of the trade, entries and exits, everything is EXACT in both situations. I get the most success when I do not deviate from this.

Many people will take on positions in their virtual account they would not do in real life. Why? It makes no sense to me. I am success in my virtual trading, so I want that to translate into my real accounts. That's some food for thought.

Just for my own benefit, for new readers, I will no longer be sharing the vast details I was prior with my trades and you will not know which trades are funded or not. Because of the avenue of the internet and not knowing which people I can or cannot trust, my trading coach recommended to not share such personal financial information.

Quote

I just wanted to share a quote from Charles Wesley that says, "Earn all you can. Save all you can. Give all you can." I love that!!! This is true financial freedom in perfect tension.

Each of us has the freedom to earn, to save, to give money away, and to spend. We are free to make choices.
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Over Momentum

Okay, for those people who trade stocks less than $100 (or the options), I'll provide the top 15 in cashflow for the negative and positive. I won't be discussing them, so you will have to look it up for yourself.

Most Negative Cashflow (for 9/17/07)
- SPY
- IWM
- QQQQ
- GS
- MER
- BNI
- C
- XLF
- MSFT
- KO
- LEH
- AAPL
- MMC
- RIMM

Most Positive Cashflow (for 9/17/07)
- BIDU
- LVS
- GM
- MON
- NWL
- XOM
- HPQ
- SDS
- CSX
- FMCN
- NOK
- SNDA
- FMD
- DE
- GG

Please note that just because they came up negative or positive, that is not an indication that it will be bearish or bullish, respectively. You need to know how to read a chart and determine the location of where the stock is in relation to the patterns it plays, as well as take into account things like news, economic indicators, and the like.

This list encompasses a wide range of stock prices and I'm not familiar with all these stocks, as I typically trade stocks above $100.

Momentum Scan

As I ran my momentum scan, it came up with lots of stocks. So, I narrowed it down to those above $100. Did not go through all 23 that came up. Nor, will I display the charts. I'll let you take a look for yourself on your own charts to see what you can identify.

Most Negative Cashflow (for 9/17/07)
- SPY (compressing into a wedge - up entry @ 149.50, down entry @ 147.40)
- GS (this actually looks like it's at support & could bounce up)
- AAPL (this has been compressing into an ascending wedge - up entry @ 140, down entry @ 137.25)
- OIH (looks similar to AAPL, ascending wedge - up entry @ 186.40, down entry @ 182)
- BSC (not sure I really see a good entry point here)

Most Positive Cashflow (for 9/17/07)
- BIDU (already looked at this previous entry)
- LVS (with 5 days strongly moving up, it could go for one more day, but I'd be careful as the last time it did this, it pulled back 100% of its move.)
- DE (it's nearing a resistance, which signals caution to me, but that's a few bucks away)
- WYNN (I see 147-148 as resistance, caution)
- PH (this actually looks like it's at resistance. Indicators are mixed in bullish & bearish)
- CMI (this looks like an upward slanted triple bottom; indicators look bullish, but we will see)
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$SPX vs. $VIX


The heavy dark yellow line represents the $VIX and the candles are the $SPX. We can see when volatility is low, the $SPX remains bullish, however, over the past 2 months, volatility has been erratic and higher as the $SPX falls. Right now, it's at another indecisive moment.




Volumes are decreasing. The highs aren't quite as high and it's compressing into a wedge, at least that's what hit looks like to me. Pressure is building and momentum is fizzling out (not shown). So, I have my brackets set to allow for triggering of either the upside or downside. It's probably waiting until the FOMC to report. Yes, that's a rather big bracket, but so what? Anything in between is not worth for me to play as I don't feel like being whipsawed in there. Let them figure out what they want to do and I'll join in when they do.
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RIMM


RIMM seems to be cautiously moving up. However, it looks to be consolidating again, this time in a rectangle, but we will see if this is that or another flag pattern as the last 2 times. The brackets I have set are as follows. RIMM's options have been very fairly priced lately.

I see bearish divergence for RIMM. When it will go bearish, not sure. Will let the stock tell me what it wants to do.
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BIDU


This is very interesting. Please note that I use an arithmatic scale and not a log scale. My original graph had the 3 bottom trend lines. I decided to replicate the lines and extend them. What is interesting is the highs in the 9/2005 correspond with those just a few days ago - same angle of attack. It would stand to reason that for the high at the beginning of when BIDU began in 8/2005, $272 may be a significant resistance over the next few days.

This is a closer view of the prior graph.

RSI & MACD show further bullish move. No bearish divergence yet. Cashflow & momentum are very bullish. Everything else - Moving Averages, Parabolic Sars, CCI, Bollinger Bands are all very bullish. These are just confirmations of what I already see in the price graph.
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Steel & Iron Sector

RTP, NUE, RIO SCHN SID, PKX, AKS, and MTL was suggested by Allan to look at. Of these stocks, I like to trade stocks typically with high daily volumes, usually in excess of 1M shares average a day. However, 6 of them look okay to trade and I'll explain why.


NUE
- Volume = approx 4M daily average
- MACD & RSI = bullish
- Momentum = starting to gain in bullish
- Bollinger = @ upper band
- Moving Averages (Exponential) = above 5, 10, 20, 50
- Parabolic Sars = bullish
- Commodity Channel Index = bullish
- Targets = Upside @ 64, 69.50


PKS
- Volume = approx 740K daily average
- MACD & RSI = bullish
- Momentum = bullish, but no momentum
- Bollinger = moving along underside of upper band, pulling away
- Moving Averages (Exponential) = above 5, 10, 20, 50
- Parabolic Sars = bullish
- Commodity Channel Index = bullish
- Targets (Upside) = 179, 190, 202
- Targets (Downside) = 155, 144, 132

RIO
- Volume = approx 23M daily average
- MACD & RSI = bullish, but possibly turning over to bearish
- Momentum = picking up momentum, but hesitation in bullishness
- Bollinger = below upperband
- Moving Averages (Exponential) = above 5, 10, 20, 50 as well as 100 & 200 Simple
- Parabolic Sars = bullish
- Commodity Channel Index = bullish, but starting to turn
- Targets = Upside @ 52
Notes: Because it just had a split, it may hang out where it's at for a few days before taking a direction. See next graph and what it's done the prior 2 splits. If it does do the same thing, 52ish will be the target. The graph prior is the adjusted splits price whereas the graph after these notes does not include splits post pricing.

---------------------------------------------------------
NOTES - For those that have looked at this, I've now updated my analysis on this. The volumes were just eyeballing on a chart over the past months and is not completely accurate.

SID
- Volume = approx 1M daily average
- MACD & RSI = overbought and starting to turn over possibly
- Momentum = no momentum, bullish losing ground
- Bollinger = moving from upper band towards 10 MA
- Moving Averages (Exponential) = at 5 EMA, above the others
- Parabolic Sars = gap closing on bullish, as if heading towards bearish
- Commodity Channel Index = going towards bearish
- Targets (Downside) = 55, 50

RTP
- Volume = approx 500K daily average
- MACD & RSI = overbought
- Momentum = losing momentum on bullish, gaining in bearish
- Bollinger = @ 10 MA
- Moving Averages (Exponential) = at 10 EMA, below 5 EMA, above 20, 50 EMA & 100 & 200 MA
- Parabolic Sars = bearish
- Commodity Channel Index = going bearish
- Targets (Downside) = 274, 257, 221

AKS
- Volume = approx 2.8M daily average
- MACD & RSI = sideways
- Momentum = no momentum
- Bollinger = @ 10 MA
- Moving Averages (Exponential) = at 5 & 10, above 20 & 50 EMA
- Parabolic Sars = bearish
- Commodity Channel Index = bearish
- Targets (Upside) = 44.50, 47.60
- Targets (Downside) = 35.50, 30.50, 26.40
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Weekend

Boy, it's been a couple days since I posted. Not a whole lot of stock talk this past week, eh?

Today has been a very productive day for me - organizing, decluttering my paperwork & the children's things, as well as the many other things on my task list today. It's a part of real life.

Tomorrow I should have time to devote to my stock work. Thank you all for being patient.

Format

I'm going to be changing the format of the blog. Going to begin looking at other stocks in addition to the ones I trade. If there is a stock that you'd like me to look at, then let me know. I'll post charts and begin discussions on those charts of what I see. I'm also going to change some of which stocks I trade, to just get a different variety of things.

The rest of this week there will be little blogging and I'll resume this more next week. Thank you for your patience.

Where and What?

Okay, you're probably thinking, what have I been doing the past 2 days.

Yesterday I attended a field trip with my daughter's 2nd grade class to the firestation. The Phoenix area is sooo hot right now and we were outside for part of the time and that wiped me out. I did go workout, spend time reviewing trading materials, etc and spend time with my kids.

Today, I ran errands such as working on my health insurance stuff, getting medical records, making appointments, getting more tax stuff together. Almost done with this, minus 2 more things to receive. Plus, I met with my accountability partners.

My accountability partners are ordering that I stop trading and go get a real job, put my children in daycare, and basically saying I'm living in sin and they are fearful for me. In all frankness, I am not fearful in my trading rather very methodical. I do and have learned a great deal. They say my trading is gambling, a crap shoot.

They've also said the bottom line isn't good and I am to cease trading, to provide for my children and constantly interject "fear" into what I'm doing. They said I'm addicted and prideful about what I'm doing. As I seek God in this, I truly do not think or believe I am prideful in my trading. In fact, the market has caused me to be quite humble, as I realize I'm not even a player or participant, rather just a spectator.

Trading is about going with the flow, managing your risk, having discipline, knowledge, and the skills necessary to make it. Can I make it and earn a living at trading? My 2 accountability partners say No. Granted, I did take some huge costs on Monday, but aside from that, this summer I have been profitting.

Do I need to go out and get a real job so they pay me piddly amounts of money, put my children in daycare so they don't get to see me, work at a job and for someone whom I'm miserable for, and watch my health further deteriorate. My health overall has gotten better, inspite of the things happening in my marriage. I appear younger than I do than the years of working in a profession I was good at, but did not enjoy.

To go back and work for someone doing what I hate just for the sheer fact to make a few bucks. I've shown it is possible to make enough in a short amount of time to cover my expenses for the month in one day or even one week. I love trading and it's not work.

Yes, there have been adjustments to our lives, but my kids have had their father abandon them, and then now, I'm being asked by my accountability partners to work at something I hate. At what point do you say you quit trading and go get a job working for someone else?

Their expectation is that you make money right off the bat with this, or at least how I understand them. I've gotten formal trading education for basically 2 yrs and feel that I am a good trader. I'm still learning when to trade and not to trade. Many of the issues many traders have, trying to outsmart the market, etc., those are not my issues anymore. Many things that would wipe out a trader, I no longer have those habits. And, the things I'm reading about good traders, I have many of those qualities.

So at what point am I supposed to give up my dreams and listen to people who don't own their own businesses or have someone else provide for them? Yes, I'm taking steps every day to be organize and to organize areas of my life that are not. I'm cleaning house, so to speak and getting rid of things in my life that serve no purpose to help me grow in the direction that is needed. So, where do I draw the line and give up on my dreams?

Costs

I had overall 13 positions as of this morning - 2 each of the following: BIDU, RIMM, RIG, CME, GOOG, MA and 1 position of AAPL.

Within the first 1.5 hrs of the maret, I was out of all my BIDU, RIMM, RIG, CME, GOOG, and MA positions - all at costs and lot. I gave back all the profits of last week and then soe.

My AAPL trade did not get stopped out yet, but I am keeping a tight stop on this in case it reverses. I am still down in my AAPL position from when I got in.

---------------------------------

What have I learned?

1. All my positions had profits as of last Wednesday anywhere from $50 to $500. But, because I had targets set, these were nowhere near the targets, my indicators as well as chart showed bullish sentiment. I stayed in.

2. Thursday the market took a downturn and some of my stocks did, too, but not all of them. At that point, I believe half had profits still and that would've been a good time to get out of those.

3. My stocks typically do not follow the market real well (in this I mean the S&P), but in this case, it should've been a clue to me when ALL 7 stocks start to follow the market when they typically do not, I should pay real close attention. I kept looking at my indicators for the specific stocks and talked myself into staying.

4. I did another no no of something I did a couple weeks prior, I adjusted and made my stops looser instead of tighter on my bullish positions. How will I ensure in the future this does not happen?

5. Friday, of the 7 stocks, only RIG had a profit and at that point, I should've gotten out of RIG. It was not a big profit, rather just a few hundred dollars, but a profit is a profit no matter how big or small.

6. That would've left me with 1-2 stocks to get out of today, which at opening would've been a good time, but I waited just a little bit (not too long, about 15 min. or so) and got out as after opening up, it began going down. Yes, I know, it's amateur hour, but so what? I was below my stops.

7. It would've been better for me to have tighter, automatic stops because they automatically fill without me rationalizing anything. Rationalizing has cost me many times in the present and past.

8. When the volatility of the market is high, daytrading positions would be better than holding overnight. Yes, you may not have the advantage of gaps, but then, that can also be a disadvantage if it's against you.

9. When market volatility is high, this creates fear and uncertainty. In the same day, like today, it was the bears for the first 2/5ths of the day, then the bulls took over for the next 2/5ths, then ends bearish. This market is not as good for swing trend traders and profits should be taken off the table when they are presented or costs cut very quickly. I did neither and in the end, it cost me quite a bit.

As a result of taking 12 costs out of the 12 trades I closed today, I will not be trading Tues or Wed at least. I understand what I did wrong and if I choose to trade this week, it will be very light and daytraded, most likely.

In the meantime, I need a little break to clear my mind. I will continue to do backtesting and do trading work, but there will be no funded trades on the table for at least 2 days.

Tough lesson to learn.

Busy Week

This is a new week. The weekend is behind me and I'm not looking back.

Monday's and Friday's Sean is home with me, so often it's a challenge to be totally focused on my trading, as he consumes my time and energies.

This week my daughter has some extra stuff from the norm like a dental appointment, field trip, and I have my own errands to run to finish up my health insurance application - running around getting stuff. Tues & Wed morning I will not be at the computer much during trading hrs.

My goal is to get out of all my September options preferably as soon as possible, but really, before the end of the week due to the time value being sucked out of my options.

I'd like to say I'm going to do a lot of blogging this week, but it will be sparingly. Wanted to really catch up last weekend, but that didn't happen. Next week, my schedule looks far less busy, so I should return to normal then. Any positions I get into (new ones) will begin looking at October options.

Day of Hell

What was supposed to be a peaceful day to enjoy it with my kids and to do a lot of trading work didn't turn out that way at all. Instead, it was a day of hell with my kids and I'm frazzled beyond belief with no help from anyone because everyone is too busy and my husband, my kids father, only pops in when he has time or feels like it.

So, I'm sorry to disappoint my readers, but right now, I cannot cope, much less write about the past 2 trading days worth of stuff. I apologize. Tomorrow I don't know if I will have time to do that and to explain what I did. So, I will perhaps just put down how to finish up my trades on Monday, if I have time and can get my head on together.

I truly do not know how single parents do it. I'm not doing all that great right now. It's real life.

Classes

I've either given or been in classes for many hrs today and am still in class right now as I type this. I apologize for not sharing my trades the past couple days. It's been nuts.

Some of my stops nearly got triggered, but did not yet. I had some good thoughts on the $SPX which transpired as to what I saw. IF I have time, I will share what these are.

In the meantime, I'm still in calls for all my trades - 6 of them.

Tomorrow my day also looks pretty busy, so at best, I will be posting my stats on Saturday sometime and hopefully will attach charts. It's been a crazy market.

If anyone ever wants to see how I trade and wants to get with me, write a comment or email me and we'll schedule a time. Can't do this a lot, but periodically I can do this and would be willing to, if you're real nice (LOL) and if it doesn't impede my trading. You must have a microphone that works, speakers, high speed internet access, Yahoo IM or Skype, and I use www.yugma.com to do desktop sharing.

Today I did get a chance to go to the gym and do some walking and that's 3 times this week. Yippee!!! I remembered to eat and still working on the sleep. Good intentions to go to bed by 10 pm last night, which I did, but wasn't sleepy and ended up getting up for awhile and by that time, it was after midnight. Sigh.

Learning in this market, take profits when it gives it to you. Keep tighter stops.

Host

I've had a host of things to do today and just have not had a chance to really sit down and record all that stuff here in my blog. Will get up early to do this and for right now, as a commitment to myself, I'm going to bed early after I clean up my house some.

For those reading, sorry about that.

The trades I'm in for tomorrow already are: BIDU, MA, RIG, RIMM, CME, GOOG - all calls. I was basically playing breakouts.

I got out of RIMM, AAPL, and CMI today as my stops were triggered.

I liked Allan's exit at $44.10 as opposed to my $40. At $44.10, I still would've had a profit and knowing news was coming out with AAPL, my stop should've been much tighter. That is a lesson that cost me a few hundred dollars. I may not be able to post this until the weekend, my stats.

There are too many things that need attending to in the next 2 days.

My stops are determined for each of my positions and I will have them entered into the brokerage before opening.

There is another commitment I'm making to myself for myself and that is to have the body and health I want. A part of that is being consistent in certain areas of my life that I have not been. My overall habits of exercise, healthy eating and living are already there, but the key is consistency.

Next year, in March, I'll be 40. I've had this goal to get to 15% bodyfat for several years now and periodically do make progress and then I come back to my setpoint. Enough is enough. No more excuses. Life will always have "stuff" going on as long as there is life. I must become a great manager of interference and not allow them to deter me from my goals.

The challenge is to get consistent good quality and enough sleep, eat small frequent, healthy meals with the right macronutrient ratio, drink water through the day, get exercise every day in moderation, stay focused & not stress over things. I just need to do this every day and not get fanatical about any one thing to allow that to derail me.

Goal is to be in bed by 10 pm every night and up by 5 am. That gives me 7 hrs. Trade or do trading work from 6:30 am - 1 pm. When the DST switches it will be 7:30 am - 2 pm. Go workout at the gym. Pick up kids from school & spend time with them. Put them to bed. Spend the last 2 hrs on more trading work and have a little unwind time.

Allan, good job on getting out of AAPL at 44.10.

Delayed Updates

Sorry about not really posting during market hours today. Got really busy.

I was taken out of 5 positions today. I also entered a number of positions bullish today. Haven't checked yet, but I believe I'm at a net cost for today, unlike yesterday. Not what I like to here, but my stops were triggered so I go outta my trades. Glad becaue they continued to go further against, so it was good to be out.

Brackets (Entries)


CME
- 2 Upside entries @ 569 & 562 with $5 stop
- Upside targets of 590, 611
- Sep580C - 2, CNMIV
- Indicators confirm bullish, but no momentum


GOOG
- 2 Upside entries @ 529 & 523 (depends on what is happen)
- No downside entry
- Upside target around $560
- Sep540C - 2, GOPIX
- All indicators confirm bullish


RIG
- Upside/Downside entries @ 109.75 & 107, OSO
- Upside Targets @ 119-121
- Sep105C - 5; RIGIA
- All my indicators confirm bullish

BIDU
- Upside entry @ 222.25; Sep220C - 2; BDUID; Targets 232, 246.50, 259
- Downside entry @ 215; Sep220P - 2; BDUUD; Targets 185, 161
- Overbought, but can continue to climb

Filled Positions

Light trading. Just taking small profits. I suppose at some point I should put some charts up, but that's more time consuming and I don't have as much time right now. Will eventually do it. Have I used any indicators on any of these? Nope. Just a line chart, candlesticks, and understanding how to read patterns, movements.

LEH
- Did a SWS from Tues.
- In Bearish @ 56.50 (8/28), Sep60P - 3, LESUL, $6.00 ($1808.85)
- Hard stop @ 57.00 (for 8/28)
- Hard stop @ $56.30 (for 8/29)
- Hard stop @ $55.25 (for 8/30) - I don't really want to give it much wiggle room here in case it decides to reverse, as it did earlier in Aug.
- Hard stop @ 54.10 (for 8/31)
- Out @ $54.75 (8/31) at 6.10 ($1821.15)
- Break Even = $12.30 (0.7% ROI)

MA
- In Bullish @ 133 (8/29), Sep135C - 3, MALIG, $5.20 ($1568.85)
- Hard stop @ 129.40 (for 8/30) - will give this 2 days at the 131.15 support
- This might have been too soon of a bullish entry. The past 2 times it's dropped 120-123 range. I'll watch this to see if I might want to put a tighter stop on this tomorrow. In actuality, I set my bracket for tomorrow and if it hit 133 tomorrow, that would've been a good entry and not today. My error.
- Hard stop @ 131.10 (for 8/31)
- Hard stop @ 134 (for 9/4)
- Hard stop @ 134.90 (for 9/5)

RIMM - #1
- In Bullish @ 81.50 (8/29), Sep80C - 3, RFYIP, $4.55 ($1373.85)
- Hard stop @ 79.25 (for 8/30)
- This broke above the flag that was forming, however, the highs have not exceeded the past 4 days, volumes are low, and RIMM has been known to be in compression patterns for sometimes 2-3 weeks at a time. Perhaps just taking small profits here and there during these times would be good. Typically RIMM's compression patterns allows for enough movement from the top to the bottom (and vice versa) to make some nice change. I'm not convinced of a breakout yet. I may even set a tighter stop tomorrow.
- Hard stop @ 83.60 (for 8/31, 9/4, 9/5)

RIMM - #2
- In Bullish @ ~82.50 (8/30), Sep80C - 3, RFYIP, $5.40 ($1632.95)
- Hard stop @ 78.75 (for 8/31)
- Out @ $84.50 (8/31) @ $6.80 ($2027.05) - with the gap up, wanted to just take profits before the weekend on this trade
- Profit = $394.10 (24% ROI)

BIDU - #1
- In Bullish @ 208 (8/30), Sep210C - 1, BDUIB, $10.00 ($1012.95)
- Hard stop @ 201 (for 8/30)
- Hard stop @ 202 (for 8/31)
- Hard stop @ 206; 0.40 trailing stop on option @ 217 (for 9/4)
- Out @ 217.50 (9/4) at $14.40 ($1427.05)
- Profit = $414.10 (41% ROI)

BIDU - #2
- In Bullish @ 207.75 (8/30), Sep210C - 1, BDUIB, $10.10 ($1012.95)
- Hard stop @ 201 (8/30)
- Hard stop @ 202 (for 8/31)
- Hard stop @ 206; 0.30 trailing stop on option @ 216 (for 9/4)
- Out @ 216.65 (9/4) at $13.85 ($1382.05)
- Profit = $369.10 (36% ROI)

AAPL - #1
- In Bullish @ 136.50 (8/30), Sep135C - 5, APVIG, $6.40 ($3212.95)
- Hard stop @ 133.60 (for 8/30)
- Hard stop @ 138.40 (8/31)
- Out at 138.40 (8/31) at $7.40 ($3687.05)
- Profit = $474.10 (15% ROI)

AAPL - #2
- In Bullish @ 136.25 (8/30), Sep135C - 5, APVIG, $6.35 ($3189.75)
- Hard stop @ 133.60 (for 8/30)
- Hard stop @ 134.50 (for 8/31)
- Hard stop @ 136.40 (for 9/4)
- Out @ 145.40 (9/4) at $12.70 ($6337.05)
- Profit = $3145.50 (99% ROI)

AAPL - #3
- In Bullish @ (8/31), Sep140C - 5, APVIH, $4.80 ($2412.95)
- Hard stop @ 136.40 (for 9/4)
- Out @ 143 (9/4) at $7.10 ($2117.05) - Scaling out of trade with 3 contracts
- Profit = $684.82 (48% ROI)
- Out @ 143.95 (9/4) @ $7.90 ($1567.05)
- Profit = $601.87 (62% ROI)

CMI
- In Bullish @ 112.75 (8/30), Sep115C - 3, CDMIC, $3.85 ($1163.85)
- Hard stop @ 107.40 (for 8/30)
- Hard stop @ 108.90; 0.30 trailing stop @ 117 (for 8/31)
- Out @ 118.37 (8/31) @ $6.90 ($2061.15)
- Profit = $897.30 (77% ROI)

CME
- In Bearish @ 551 (8/30), Sep540P - 1, CNMUH, $12.50 ($1252.95) - weak bear
- Hard stop @ 563.10 (for 8/31)
- Hard stop @ 556 (for 9/4) - this bearish play doesn't feel right, so I expect to be taken out on Tues by jamming up my stop.
- Out at 561.75 (9/4) at $8.00 ($797.05) - one word prevented me from being stopped out at $556 or closer to that. It was the word BELOW. It should've been ABOVE on my contingent. My error.
- Cost = -$455.90 (-36% ROI)

BCSI
- In Bullish @ 82.75 (8/30), Sep80C - 5, $5.95 ($2989.75) - meant to get in on Tues rather than this day. Was using this as an example for someone and got actually filled.
- Hard stop @ 80.60 (for 8/31)
- Hard stop @ 81.25 (for 9/4)
- Out @ 86.30 (9/4) at $8.35 ($4160.25)
- Profit = $1170.50 (39% ROI)

GRMN


This is the trend that I see for GRMN over the past 2 yrs. Even though it's had this steep rise in the past 3-4 months, it's still following the same angle of attack. Yes, I know, Tim would use the log scale to make this proportionate. My thing here is I'm a profitable trader using an arithmatic scale and that's what I know. So, I'll stick to that.

This can't be seen from either charts because it would make it look not so great, but the upside targets would be: 112.90, 119.30, 124.10, and 130.60. I haven't gone beyond those, but for those following this stock, let's see how close I get. These would be points of retracement or reversal.

My indicators, maybe someday I'll post these, shows bearish divergence for MACD and RSI. However, it also shows that there is still upside potential possibly left and looks to be possibly in an oversold situation. Let's see which it is.

The bracket I have for an upside entry (if I were to play this stock) would be $109.50 and downside entry would be around $101.75. This seems to be trading into a wedge - higher lows. Can you see it? This is a type of compression pattern, however, it doesn't seem like volumes are lightening up. Perhaps not. We'll see. I would probably do a $3-4 stop from whatever entry there is.

Cashflow seems to continue to rise, but it's awfully high. There seems to not be a lot of momentum left. This is just what I'm seeing for this stock.

Closed Positions - So Far (9/4)

I took profits on 4 positions today. Though futures were slightly down, most of my positions were in the positive. My stops (hard stops and trailing stops) were set from last Friday.

Did not expect BCSI to move as it did, so it was a pleasant surprise for this to occur. BIDU move was also very nice and it has just lingered and took profits on 2 positions. One was an automatic trailing stop in one account. In the other account, I was watching what was happening and manually took myself out, in case it felt like retracing more. If need be, I'll jump back in as it pulls back. AAPL was very similar to BIDU, but since I had more contracts here, I scaled out of my trade by getting out of 3 contracts and leaving 2 on the table - just in case it took off again. If it reversed, then I would get out.

So far, profits for BCSI, partial AAPL (3), and 2 BIDU positions are:

Capital = $6447.80
Profit = $2638.52
ROI = 41%

All these were taken within the first 1.5 hrs of market open, then I took my kids to school and am now re-evaluating my positions for more entries.

It was a very nice move on BCSI where I got out about $1 of the stock price from its highs and it's pulled back 100% of it's move as of the writing of this. I almost got back in, but wanted to wait for it to have at least 1 full 5 min. candle above the 10 EMA and it did not. It almost looked like a good entry point near $85 @ 12:10 pm EST, but it's dropped another $1 since then. Glad I did not get in and will wait for it to bottom out before getting in again. It would've been a nice move to do on the downside, but I wasn't sure if it was just pulling back slightly or doing what it did. It was best for me to stay out.

This is an update now at 1:20 pm EST.

I misentered my order for CME. It should've said if it goes above $556, stop me out. Instead I had BELOW $556. Duh. This cost me about an extra $100, but it still would've been a cost. My intuitiveness was correct on this and I'm glad I listened. Too bad I messed up the electronic order. An easy mistake, but need to double check between my bearish and bullish positions that I have the right direction.

Capital = $7700.75
Profit = $2182.20
ROI = 28%

It looked like it was going to drop some more, so I decided to pull profits off the table with the remainder 2 contracts left of AAPL. Looks like I got out too soon. That's fine. Took profits of 62% on a little over 24 hrs of trading, not bad.

Capital = $8665.93
Profit = $2784.49
ROI = 32%

Closed on my other AAPL trade that had 5 contracts of the Sep135C.

Capital = $11,855.68
Profit = $5,929.99
ROI = 50%

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