Monthly Archives: March 2015

Watchlist for 3-27-2015 – $QUNR, $CNAT, $MAGS, $SEED, $AXN, $OREX

Today’s Plan:

Good day yesterday, trading $QUNR, $CNAT, $RADA, but of course majorly minimized gains. I’m working on this every day, for sure I have the solid ability to trade the right setups and be choosy on what I do. That is a big leap forward, but now, I have to get better at letting winners run.

VERY dry on scans this morning, going to be building a plan leading up to the open, because not many of these are that interesting.

Today’s List: Full list from Yahoo Finance

QUNR

LOTS of downside here, will look to short pops.

QUNR

CNAT

This probably fades into oblivion, but I’ll watch if it pops.

CNAT

MAGS

I was interested in this because of the big after hours spike, but looks like its given most of that back, if it can get a run up to those post market highs I’ll be watching.

mags

SEED

Same plan as yesterday, looking for pop to $2’s.

SEED

AXN

This is a solid fade setup, but I don’t have the patience for that, hoping for one more parabolic to scale into.

AXN

OREX

Solid news, but if you have followed me at all you know I always get short spikes for fat loss pills. And it seems to work about 75% of the time. I’ll continue with that strategy on this.

OREX

Watchlist for 3-26-2015 – $SEED, $VBLT, $QUNR

Today’s Plan:

Small list today, but I really like all of these, will look to short aggressively. That being said, I need to be cautious with my mentality. Was very frustrated yesterday and last night. I took the day off trading to do some odd’s and ends and missed out on a ton of great trades. Need to make sure I don’t end up “grudge trading”.

Today’s List: Full list from Yahoo Finance

SEED

Shorting pop’s would love a run up to $2.

Target: $1.90’s

SEED

VBLT

Will try and use patience here, but going to try and short when all the early guys get squeezed out.

Target: High $7’s

VBLT

QUNR

Going to short pops over $40, or wait for fades mid to late day.

Target: Over $40, or fading action.

QUNR

Watchlist for 3-24-2015 – $RADA, $HZNP, $MVIS, $CORT, $IMGN, $NXTD, $SEED

Today’s Plan:

Very solid day yesterday, one of those “grind it out” kind of days. But I say it all the time, just trade good setups and be quick and the profits add up fast. Much like yesterday nothing screams out at me, hoping RADA goes bat shit crazy to the upside, probably my main watch.

Today’s List: Full list from Yahoo Finance

RADA

Made money on this, but nothing great, really small size, had my plan written out to add, but didnt, not sure why I had no conviction. Hoping for a crazy spike up to the $3.40’s-$3.50

Target: $3.50

RADA

HZNP

Still fading this, target is for the the crack under $22 and I’ll cover.

HZNP

MVIS

This hit my target at $4 yesterday but I didn’t realize till the last minute that it was not easy to borrow and by then I didn’t have time to locate. Basically the same plan today, hoping for a pop to scale into.

Target: High $3’s

MVIS

CORT

Miss yesterday, had my alert at $6, but didnt enter, not sure why at this point, I think I was just distracted with other tickers.

Target: Pops to fade

CORT

IMGN

Will only short a huge pop.

Target: $9+

IMGN

NXTD

They keep trying to pump up their stupid digital wallet with press releases. Easy short was yesterday, but I’ll look for anything parabolic to short into.

Target: Big pop

NXTD

SEED

“Former runner”, I’ve trade this thing countless times through the years, will not get caught in the frontside, hopefully it runs for days and I can hit the backside. Just watching for now.

Target: Multi day run.

SEED

Watchlist for 3-23-2015 – $MVIS, $NXTD, $BDE, $CORT, $HZNP, $REPH

Today’s Plan:

Nothing super compelling this morning out of the gate, but several good setups. Will be patient and let them come to me. Good week last week, not going to press this morning.

Today’s List: Full list from Yahoo Finance

MVIS

Covered for small gains Friday, one of those annoying types of trades. It was weak and probably cracks today, but when its chop chop chop all day and its Friday, I just hate holding over the weekend. Hoping for a pop today to get short again.

Target: $3.90’s

MVIS

NXTD

Strong stock, but I really think this is a POS, can still run though so I’ll set a high target and only trade if it comes to me.

Target: $4.50

NXTD

BDE

Thought about shorting this Friday, but wasted all my time watching $MVIS, will watch pops.

Target: $10.20

BDE

CORT

Looking to short pops.

Target: $5.75

CORT

HZNP

The most annoying stock in quite some time, traded this a ton over the last few weeks. Need to run a report, but I’m assuming I’m in the red on it. Made several small profits, but then took a bigger loss by going in with size Friday, felt like the run was over. But stupid press release about them ringing the bell today. Maybe once longs realize that basically means nothing it wills start to crack.

Target: $22.85

HZNP

REPH

Looking for a double top at $9.

Target: $9.00

REPH

Paul Tudor Jones’ 22 Trading Principles – New Trader U – via @sjosephburns

  1. It is possible to see that a market is dramatically overbought and prepare for, and then capture, huge gains after the sell off.
  2. Risk small amounts to make big profits.
  3. Bet against times when numerous leaders must agree.
  4. Long hours and a strong work ethic are keys to being a successful trader.
  5. While it is good to trade any market that will turn a profit, specializing in a market can lead to great success.
  6. The markets go down faster than they go up.
  7. If the market will not go down during bad news, it will likely go higher.
  8. The stock market moves in patterns and in cycles. Past price patterns repeat themselves due to human emotions.
  9. Many times traders think a big position order size means that a whale knows something, most times they do not.
  10. It is okay to skip a trade if you can’t get your entry price.
  11. A momentum move does not just stop, it takes time to roll over.
  12. It is possible to trade successfully by gaming the actions of other traders.
  13. Be aggressive at high probability moments.
  14. Always stay in control of your trading and manage risk.
  15. Focus on risk management as the #1 priority in trading.
  16. Having the right mindset during a big loss that it is just temporary, is the key to coming back and being successful.
  17. Letting profits run is sometimes a great plan.
  18. Being long at all time highs in the indexes is a great strategy.
  19. Great money managers trade with passion.
  20. Even Market Wizards have doubts about winning when entering a trade.
  21. When the top in a market is reached,  there is a lot of money to be  made shorting as panic selling sets in.
  22. Guys from Tennessee can trade!

via Paul Tudor Jones’ 22 Trading Principles – New Trader U –.

A Day Trader’s Secrets By George Kleinman

Good list of rules.

  1. You will not be a scalper. Pit traders can successfully scalp for a few ticks because they have enormous scalper’s advantages. They can buy the bid and sell the offer (you generally cannot), and they pay extremely low fees as exchange members (fees which can make trading for just a tick at a time profitable). Floor traders can react instantly to big orders as they hit the pit, they can hear the noise rising and know something is afoot, you can’t. On the other hand, off the floor can be a big plus because you will not get caught up in the emotions of the pits, which often result in false messages.
  2. You will be a day trader, not a daily trader. A day trader by definition is in and out the same session, but nobody can do it successfully every day. The right kinds of market conditions are not present every day, and it is psychologically too intense to day trade day in and day out. One tremendous advantage you have is freedom of choice, you do not need to take every signal or trade every market. You do not need to be in a position before an important, but risky, employment report. You have the luxury to wait and watch and witness the market’s reaction before taking action. If a market is “newsless” and quiet, or range bound, you can always relax and let your most important quality—patience—work for you. I personally use a great S&P day trading system which has given me consistent returns. It trades on average only 2.5 times per week.
  3. You will treat day trading as a business. It is not a part-time diversion. It is very demanding. You need total focus and total concentration. To be totally focused you must eliminate outside distractions. Lock your door if you have to. I know from personal experience, the more outside annoyances, the harder it is for me to trade effectively.
  4. You will feel good. If you do not feel well, you cannot day trade effectively. If you stayed out late last night drinking or are physically ill or have emotional stress from outside influences, you should not do any kind of trading and this is especially important when day trading. Day trading is much more demanding and it is absolutely essential you be sharper and quicker than your competition. When the optimal “set-up” presents itself, you must feel strong, because you will not have the luxury of hesitation!
  5. You will be totally disciplined! Period. What this means is you will follow written and well-defined rules systematically, which is the only way to avoid the emotionalism of the markets. In other words, you will construct a game plan, which you will follow without bias. Let me repeat this, you will have NO biases. (I have always had my biggest losses when I have had a strong opinion about some market and overruled my technical game plan.) If you do not follow your game plan, you will miss some of the best and most profitable trades. Sound familiar? What will your game plan look like? It will have well defined entry and exit rules from a program or system you have tested and have confidence can win over time. Your well-tested system will have a positive outcome (not necessarily a high win-to-loss ratio, which is not easy to achieve for any system). If for every dollar you lose your system over time makes on winning trades(after fees and slippage) then a marginally positive win-to-loss ratio will still result in profitability. Your rules will be very strict in terms of capital preservation, especially during drawdown periods. Personally, I will not tolerate a drawdown of greater than five percent in any single day, and five percent would be exceptional. Total discipline means you will always use stops (just do it), and never cancel a stop just because the market is getting close to it. Finally, never add to a losing position.
  6. You will never let a decent profit turn into a loss. Here is what I do: if I have a reasonable profit on paper, I move my stop up so that, if half of these profits slip away, I am gone for that day. The reason is obvious; in this way you escape with at least a portion of your profits.
  7. You will become very cautious after a “Home Run.” After you make a big hit, the temptation to overtrade grows geometrically. After a home run, look for singles (or better yet, take a vacation).
  8. You will go only where the action is. It is essential to be aware of the current trading environment. Day trading requires volatility and liquidity. Not all markets are volatile enough to allow for ranges required for consistent profitability; you need a market that not only moves, but moves within a limited time frame. You shouldn’t day trade markets like oats. Not all markets are liquid enough to minimize slippage. You shouldn’t day trade markets like lumber. Even large markets should be avoided when they are quiet and/or range bound. Look for markets in the news
  9. You will day trade only markets suited to you. Not every market is suited to everyone and there is no rule that says you have to trade anything and everything. For day trading, I like the S&P, the currencies, crude oil, bonds, and (when active) the soybeans and metals. One more thing—you need the right temperament to day trade. If you require numerous confirmations, or only can take action after extensive research, you are probably not suited to day trading. Additionally, I’ve found, (maybe due to a simple mind), that simple is better. Keep it simple! Some of the most basic indicators can be incredibly profitable if you follow the rules outlined above.

via CRB Trader Archive.

The Ultimate Guide To Self-Sabotage via @jaltucher

D) BLAME DOOM & GLOOM

“It was the housing bust!” That cost me my house. Then my family. Then my job. Then I couldn’t get a new job. Then I got depressed. Then I had to take medication. Then and then and then! BLAH!

Every day there’s bad news. I’ve worked for enough newspapers to know that the news is bad for a reason. It’s not like there’s only bad news happening. But they only REPORT bad news.

Picture you’re in the jungle. To your left is a donut tree (I love donut trees) and to your right is a lion. Which one makes your brain light up more and pay attention.

The newspaper industry knows that you will pick up a paper that has a lion on it that is about to eat you. If you’re American then you certainly aren’t hungry so the donut tree can wait.

“It’s Obamacare!” “It’s the government bailouts!” “It’s Greece!”

I like the last one. Everytime Greece is in the news every stock investor I know loses money because “It’s Greece!” and then you turn on TV and people even uglier than me are talking about Greece like it’s a Hiroshima on the economy.

Then they forget about it for awhile (“it’s Ebola!”) and then it’s back in the news again.

Solution: Macroeconomics is largely a myth. It’s just an extra thing to study in college so they can justify charging you $40,000 a semester.

Even politics is a myth, particularly in the West. How much has a President really moved the needle on your life.

If you’re in the army (i.e. you work for the President) then they might move the needle. But largely the President, the Congress, some judges, etc maybe move the needle 5-10% on your life only once in awhile.

So ignore it all. People say, “but don’t you need to be informed?”

About what? I can’t really think of anything I’ve ever been informed about that has significantly changed my life. I like to focus on the things I love, not the things I’m informed about that disappear tomorrow.

via The Ultimate Guide To Self-Sabotage.