Dips continue to be bought and the bulls were finally able to close us over resistance at 875 on the S&P. Volume has been light which makes me not put too much trust into Friday's close but I will continue to look to play strength until something changes.
Commodities were very hot on Friday with oil, coal, and shippers continuing to see a bid. I am still long many of the names from the list Friday which saw good action.
With many of the bigger names getting overextended I think momentum money will turn to some smaller oils and other small caps.
CPE, SWC, SYNM, DPTR, PLLL, ENT, EXXI, GSX, HDY, CFW, VSR, DAC
Some bars to watch for dips in:
FSIN, COIN, PZG, NGAS
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Will take a look at your pics later.
Until then :
BOOOOM : CPSL - Was holding at a entry of 1.847, sold at 2.704 , 500 share. for a near 50% gain :)
Well done!
My own boomage as well:
CENX from 4.15 to 6.90
GMXR from 10 to 14.50
DRYS from 7 to 9.5
OCNF from 1.35 to 1.75
PCX from 5 to 9.5
HERO from 3 to 3.78
IVAN from 1.44 to 1.77
TTI 5.5 to 6.85
CPE 1.85 to 2.15
SWC 4.5 to 5+
Not bad for two days work after a little time off.
Missed CENX and DRYS last friday, as I said.
Atm I have a fee issue with my broker, since im from Canada, im not allowed at all place and my option are :
- Having more than 25 000 $ US in my account (wich I dont) but with good fee
- Or where im atm with 20$ fee pear transaction, with a 5000$ account, its a steal imo.. until I made 30, it turn to 10$, and then 7$ when I hit 150 transactions.
So to counter this attack, I have do to less trade and make more profits.. so I have to raise my capital risk from more than 1% ..most of the time
What are your advice ? raising my capital risk near an other % ? wich one ?
Also, wich stock do you suggest ? What do you think about holding sometime ?
Ive seen on forum , market is due for a pullback.. advice ?
Oh, and if you have free time, get in touch to me via email, I have a proposition for you !
Until then, keep up the good work !
Screwed one of my stop loss today, but It was a chase of NCS, had it right on my list but wasnt fast enough to take it at the trigger
Holding :
COIN = In at 1.74
BEE - bought it near the open at 5.38.. passed near selling it du to my stop loss but it holding and closed on good vol at 1.50
VSR - Holding but the entry point is bad (2.98), tough volume would continu as the opening but volume lacked in the day
SIGA - In at 6.60, holding, I think its at his 52week high (not on close but during the day) good volume and breaked a resistance
I hate myself for not being fast enough in the open, sometime a trade trigger so fast...
Also hate myself for not being disciplined to have respected my stop loss, but its not a big losse !
Any advices welcomes MR Jax
Yes, I would stop buying on the opening. I have a rule of not buying in the first hour of trade and only break it on very, very rare instances; such as insanely massive volume. I usually use the first 30min to hour of trade to see what ranges are built in individual stocks, identify what sectors are hot, lock in gains on over night positions. I often relax stops in the first hour as well, if selling volume is light. The first and last hour of every trading day is full of tricks and you need to conscience of that. If a stock continues to act well, usually through first hour high offers a good entry and another advantage of letting the first hour range to form is you have defined your risk by using the first hour low as a clear stop out
Try it out for a few sessions and see if your results improve.
JAX
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