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).

Another narrow range day

The market didn't move much for the second day in a row. This indicates indecision, but also means markets are coiling, ready to explode to one side or the other. Now let's just wait and see which side this will be, up or down.

Daytrades
Three trades today, the first one from Stewie and two of my own.

First Stewie's, in ACI long on support 20MA & 50MA. I got out right before the close with a small gain. The stock was falling back to entry point and I didn't want to hold overnight, not worth the risk.
A missed a great call from Stewie, DANG. This one moved right from the start and ended strong (up +4% since the call!)

Second trade, long ARBA. I went in after the red hammer with SL just below. Got stopped out, price dropped 2 cent below my SL and then based and broke out. Ouch! I guess I got in too soon, next time better buy when price finds support on 20MA.

I went short STJ when price broke the 20MA. 2 mistakes: I was trading countertrend!! And second, better entry would have been the red hammers half an hour earlier. Of course, better not trade against the trend at all. I realised too late, but covered before my stoploss got hit.

The week hasn't started well for me and I kinda lost confidence today. Luckily I didn't react by overtrading or revenge trading. Instead I stayed out an monitored the day from there on. Although I did wanted to short FFIV at the break of the base (see chart below), but I saw it just a little too late and didn't want to chase price. That was a positive fact. Negative fact, I didn't make $1.50-2.00...

Tomorrow is another day!