Blog moved
After a period of grief over the loss of my daughter, I have resumed my trading. My blog can now be found here.
ESI bull flag
The loss of my daughter caused me to lose focus on the markets. I have not traded actively for some time. I made few trades and was not able to update my journal. The results of my trades were mixed.
I am starting to get back on my trading again and hopefully regain my focus.
I bought a small position on ESI near market close on Tuesday, June 24. The stock surged on heavy volume two days before. However, the pressure of the market’s sell off caused ESI to pullback. The pullback did not get me worried because it was on low volume and the stock remained above MA support. The charts continue to look great. I added to my position 3 more times for an average price of 83.30.
I sold half today at 85.30. My target price for the remainder is around 88.00. I expect to achieve this during the anticipated oversold market rally in the coming week.
Trades 4/22/08 - BA, CAT
I decided to close BA at 79.14, scratch trade, because of the lack of volume. Investors and traders seem to be on the sideline waiting for Boeing’s report before market opens tomorrow.
Instead, I bought 100 shares initial position on CAT at 82.10. Trade idea - pullback trade. After a heavy volume advance due to good earnings and outlook, stock has pulled back on low volume.
Trades - 4/21/08
Trade #1 - Shorted 1 ESTX50 at 3693. Trade idea: pullback to 10EMA. Added 1 at 3690 on break of previous bar low. Covered all at 3688 for a net profit of $102.97. Time in trade: 6 mins 39 secs.
Bought 100 shares of BA at 79.12. Trade idea is earnings. Boeing will be reporting earnings on Wednesday morning so I have to sell this stock by tomorrow.
Trade 4/10/08 - ICE
Bought 100 shares of ICE at 147.33. I used the break of the first 15-minute bar high on the intraday chart to time my entry. Trade idea - pullback setup, cup and handle pattern, low volume pullback after the heavy volume surge. Low risk stop with a nice target objective.
