Took a small starting position in SWC at 12.58. Might add if it shows signs of strength. I really like Palladium here as it crosses the important level of 440. Wont get time to concentrate on the markets till later in the trading day, so not taking too many chances here.
Hope some of you benefited by the NEP call last night! I see it made a 7% move earlier in the day. I didnt get a chance to see the markets until now so missed it.
Will do a detailed post on Palladium and Palladium manufacturers later this evening.
Good luck!
13:03 Still liking it here. But am waiting for the volume to come in before adding more. Volume not impressive right now.
13:34 Facing huge sell block at 12.70. Should add if it manages to overcome that.
13:43. Most of that block gone but obstacle remains. I am trying to be patient here. Which is something that doesnt come naturally to me.
13:46. Added at 12.72
13:48 Bought some WYNN at 71.84. Finally saw some volume coming in it. Wont be able to watch the markets for the next half an hour now.
14:32 Very small position in CSIQ at 28.30. Stupid?? I know!!
14:50 Keeping an eye on 28.71 for CSIQ
15:41 Into NEP at 10.35
15:59 Sols CSIQ for 28.09 for less than 1% loss. It didnt pass my "sleep" test.
Thursday, January 14, 2010
Wednesday, January 13, 2010
NEP
Not much to say here but I just wanted to brink this stock to your attention. If you have read my introduction, you know why this is and will always be my favorite stock. It has been consolidating in the past few days after a parabolic move. I rather liked how it closed close to its high of the day today. I wouldn't say its a buy because right now I think that no stock is a definite buy as this market will move on news. But this is one stock that should definitely be on your watchlist.
Good Luck tomorrow!
Good Luck tomorrow!
Daily review - January 13, 2010
The market started up. The market went down. The markets went up. The market consolidated. The market went up. And that's pretty much it. If this review shows my disinterest in the markets right now, I do not apologize for the same.
The morning session was actually pretty crazy. Most of the momentum stocks were actually a pretty wild ride. Let me give you an example here - CAGC, our chart of the day yesterday. It was down almost 7% in the morning and ended the day up almost 7%. Good Luck playing that! Actually you could but if you are a small account trader like me and have to live with the pattern day trader rule, its not worth the risk of getting stopped out repeatedly and not being able to day trade for the next few days. And make no mistake - if you cant day trade in this market, you don't trade. Of course, you could be a masochist!
I could put charts of the individual indices here, but really, what's the point? Job numbers come out tomorrow, so the market will react to that. JPM reports on Friday and that's what I am waiting for. Let the big boys start reporting and then we should get a fair idea on how to play the earnings season.
Personally speaking, I entered into one small trade today - FAZ. I blogged about it earlier in the day. I was quick to get in and sure enough, was quickly thrown out. After that, I just didnt feel like trading today. I haven't felt like this in a long, long while. I have been trading a lot since December and have done pretty well during this time period. But today, I just didn't feel like it. In fact, I wasnt even seeing the markets, except for an occasional peek at cnbc (the site, never the channel!!). Why could this be? Well....
1) After the stupid mistake earlier in the morning, I was punishing myself by not entering any other trade
2) I didn't want to enter any trade since I knew I wouldn't be able to watch the markets till around 11 tomorrow.
3) I knew I didn't have an edge in the market, so I didn't trade.
I would love to say it was just 3, but honestly speaking, I suspect it was a combination of all the above.
How to trade the next few days? Let the volatility be your friend. If you absolutely do have to trade, don't try picking the top or the bottom. You don't have to get the entire move in the stock, just the meaty part of it. That's how the best traders did it and still do it.
I might post a few picks later tonight. If you want any stock analyzed, just leave a message in the comments section.
Good Luck tomorrow! Be careful out there!
The morning session was actually pretty crazy. Most of the momentum stocks were actually a pretty wild ride. Let me give you an example here - CAGC, our chart of the day yesterday. It was down almost 7% in the morning and ended the day up almost 7%. Good Luck playing that! Actually you could but if you are a small account trader like me and have to live with the pattern day trader rule, its not worth the risk of getting stopped out repeatedly and not being able to day trade for the next few days. And make no mistake - if you cant day trade in this market, you don't trade. Of course, you could be a masochist!
I could put charts of the individual indices here, but really, what's the point? Job numbers come out tomorrow, so the market will react to that. JPM reports on Friday and that's what I am waiting for. Let the big boys start reporting and then we should get a fair idea on how to play the earnings season.
Personally speaking, I entered into one small trade today - FAZ. I blogged about it earlier in the day. I was quick to get in and sure enough, was quickly thrown out. After that, I just didnt feel like trading today. I haven't felt like this in a long, long while. I have been trading a lot since December and have done pretty well during this time period. But today, I just didn't feel like it. In fact, I wasnt even seeing the markets, except for an occasional peek at cnbc (the site, never the channel!!). Why could this be? Well....
1) After the stupid mistake earlier in the morning, I was punishing myself by not entering any other trade
2) I didn't want to enter any trade since I knew I wouldn't be able to watch the markets till around 11 tomorrow.
3) I knew I didn't have an edge in the market, so I didn't trade.
I would love to say it was just 3, but honestly speaking, I suspect it was a combination of all the above.
How to trade the next few days? Let the volatility be your friend. If you absolutely do have to trade, don't try picking the top or the bottom. You don't have to get the entire move in the stock, just the meaty part of it. That's how the best traders did it and still do it.
I might post a few picks later tonight. If you want any stock analyzed, just leave a message in the comments section.
Good Luck tomorrow! Be careful out there!
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