us stocks eod

[chrisg]

Well I put on one short today and wouldn't you know it it was probably one of the only stocks that rose today UAUA. Well accept for AMZN, I was surprised that it closed up today. I think that i am going to sit out tomorrow since it is a Friday going into a long weekend. I currently am still long ITW AMZN and KR. :)


chris

[rosow]

Chris,
UAUA wasn't triggered today. I may give it a stab tomorrow! See attached.

Lenny

Well I put on one short today and wouldn't you know it it was probably one of the only stocks that rose today UAUA. Well accept for AMZN, I was surprised that it closed up today. I think that i am going to sit out tomorrow since it is a Friday going into a long weekend. I currently am still long ITW AMZN and KR. :)


chris

[chrisg]

Well eod stocks has been quite for a while so I thought i would post. I currently have no open positions. I have entered an order for RCL today. It is at min wave point but has a good risk to reward. I would post the chart but I am at work and do not have MTP on this computer. How is every one else been doing with this tricky market?


Chris

[rosow]

Chris,
Pretty quiet month for me as well. Just a FYI on how I trade, I do not take EOD stock trades at the "Minimum" Wave C level. All my trades are at the "Typical" Wave C level. I just didn't have much luck at the minimum target reversal. Watching all the different threads here tells me that the minimum level is O.K. to use on shorter time frames. Below are my June trades:

TMX - Long - B/E
HAL - Long - + .47R (Got out immediately the morning of a downgrade)
EXEL - Long - Still in the trade - Currently + 3.08R
BMRN - Long - - 1R
BSX - Short - B/E

Cable was down a few days ago so missed a good short on EPL. Talk about a classic looking chart!! See attached!

AHM came up on Wednesday as a short but it turned out that it wasn't a shortable stock. Oh well!

Lenny


Well eod stocks has been quite for a while so I thought i would post. I currently have no open positions. I have entered an order for RCL today. It is at min wave point but has a good risk to reward. I would post the chart but I am at work and do not have MTP on this computer. How is every one else been doing with this tricky market?


Chris

[chrisg]

Lenny,

Well RCL did not work out but that is ok. I to was short BSX but was stoped out for a 1R loss. I think you are right I am going to stick with typical wave point and not looking for trades just for the sake of trading.:D

chirs

P.S. Lenny check your private messages

[chrisg]

This last month and a half I have been in a draw down. I currently am short KIM and ATI. KIM has been moved to break even. ATI is not looking to good. Today I have an open order to go long LTR. We will just have to see. It is difficult in this sideways market but a trend will come along in the future.:)

chris

[swissoaktree]

That was what made the Turtles rich so if it worked for them then it should work for us.

[chrisg]

Thought i would get some discussion going on eod. I was stopped out of EBAY for a nice 3R gain. I was trailing with the ATR stop but with the market the way it has been I thought I would lock in some profit trailing at typical wave point. This one trade made up for a lot of my loses in June and July. This market has been very hard to stay in a position with so much volatility.:eek: I currently am flat.

chris

[rosow]

Chris,
First let me say that no one can criticize you for taking profits. However.......................I'm in EBAY and have not closed the trade yet and I'm going to tell you why. Like usuual I learned from a realtime example. If you recall in late February we had a huge move down in the matter of a couple days. By March 5th the S&P had lost almost 90 points and what comes up in my scan but a couple of nice looking long plays, SLB & PPC!! On 03/06/07 I get triggered into both trades but am so nervous that I decide that these are the (2) trades I'll cash out on as soon as they hit the 2/1 box. I figure the bear is in play now so I'll just catch some $'s on a dead cat bounce : >) To make a long story short I collected 4R on these (2) trades but if I let the market tell me when to get out I would have made 18+R!!! And that's conservative because once my trades hit the typical wave 3 level I usually move my stops to 1 bar lows!! Moral of the story is that we have no idea which play is going to be the home run and which one is going to be the dud. With position sizing/risk/reward/money management we can just sit on our hands and see what plays out. On EBAY my ATR stop is now above 1R. You may be the winner on this one with your early exit. On the other hand.....................

Lenny

Thought i would get some discussion going on eod. I was stopped out of EBAY for a nice 3R gain. I was trailing with the ATR stop but with the market the way it has been I thought I would lock in some profit trailing at typical wave point. This one trade made up for a lot of my loses in June and July. This market has been very hard to stay in a position with so much volatility.:eek: I currently am flat.

chris

[rrs]

Chris,
First let me say that no one can criticize you for taking profits. However.......................I'm in EBAY and have not closed the trade yet and I'm going to tell you why. Like usuual I learned from a realtime example. If you recall in late February we had a huge move down in the matter of a couple days. By March 5th the S&P had lost almost 90 points and what comes up in my scan but a couple of nice looking long plays, SLB & PPC!! On 03/06/07 I get triggered into both trades but am so nervous that I decide that these are the (2) trades I'll cash out on as soon as they hit the 2/1 box. I figure the bear is in play now so I'll just catch some $'s on a dead cat bounce : >) To make a long story short I collected 4R on these (2) trades but if I let the market tell me when to get out I would have made 18+R!!! And that's conservative because once my trades hit the typical wave 3 level I usually move my stops to 1 bar lows!! Moral of the story is that we have no idea which play is going to be the home run and which one is going to be the dud. With position sizing/risk/reward/money management we can just sit on our hands and see what plays out. On EBAY my ATR stop is now above 1R. You may be the winner on this one with your early exit. On the other hand.....................

Lenny

Hi Lenny,

Many thanks for your excellent post. The examples you provide strongly reinforce, certainly for me, the need to follow a clear plan of trade management.

Sincerely,

Rama.

[chrisg]

Hi Lenny,


I completely agree with you. My account is currently in the negative, so this trade brought it back up to break even. I am not able to be in front of the computer during market hours so i am unable to move my stops as the atr moves at open. A good example of this is KR I saw a 7R gain get stopped out at only a 1R gain. At this time mentally i just want to be back to break even.:)


chris