Wednesday, April 6, 2011

Tuesday: more consolidation

We're still digesting the V-shape move up from March 16 lows. But this seems much healthier than a pullback, many stocks are setting up for a move higher. Gold and silver are helping, big gains today for both, gold breaking out.

Swingtrades
Because of the many good setups I found, I started a whole lot of small positions, meaning to add when time is right. Some of them immediately went the wrong way or formed a candlestick on daily that wasn't to my liking. For those and other reasons, some positions are closed already, most of them near end of day or when the stop was hit.

Closed trades:
WY: long from 04/04 @25.20, out 24.75 (-1.82%)
BBY: long from 04/04 @28.46, out 28.80 (-1.22%)
MTZ: long from 04/04 @21.50, out 21.81 (+1.42%)
LEN: short 17.82, out 18.41 (-3.34%)
ARBA: long 34.61, out 33.92 (-2.02%) I entered a limit instead of a stop-limit order when price moved over 35 in pre-market. Should have kept my stop-limit order!
MOBI: long 13.39, out 13.40 (0,00%)
JAZZ: long 32.42, out 32.54 (+0.33%) This was a winner later on, 33.54 EOD.
LNG: more of a daytrade actually, long on break 9.50 (entry 9.58), out 3/4 @9.94 and 1/4 SL @9.60 (+2.71%)
MELA: long 3.58, out 3.67 and 3.59 (raised SL) (+0.77%)
ECA: long 35.13, out 34.50 (-1,82%)
ARMH: long 28.50, out 28.67 (+0.56%)
MCHP: long 38.42, out 38.18 (-0.65%)

Open trades:
Still in OCZ, BX, BGCP, TLT and SDS from Monday. I took some profits in OCZ and BX, both up nicely.
SLW: long 45.17 SL44.00, sold some 46 (AH)
SCI: long 11.56 SL11.20 (one from Stewie)
LULU: long 91.12 SL88.75, sold some @94
NXPI: long 31.37 SL30.00
NUE: long 47.11 SL46.20
TSO: long 28.02 SL27.11
LEAP: long 15.69 SL15.15
PPG: long 96.76 SL94.65
HMIN: long 42.45 SL40.90
GES: short 39.95 SL41.00
FFIV: short 93.36 SL96.30
EBIX: short 23.76 SL24.50
MENT: short 14.49 SL14.99

Daytrades
Two daytrades, TYC and YOKU. Somehow, I managed to take the wrong stocks, mediocre setups maybe and let the good ones slip by.

TYC: in on bounce from 9EMA (actually I entered this one from a 15m-chart instead of the 5m-chart).
Price reversed shortly after entering and then bounced on the 20EMA but I was already stopped out.

YOKU was an entry after NRIB7, which worked well eventually. Price stalled on R3 and fell back towards R2 to stop me out. Luckily I took a partial profit near HOD. End result was a breakeven trade. Later on, price went back up to reach my first target of 51.95 (only just).

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