Closed the portfolio (for a while)...

All good things must come to an end, at least for a while. Work is too busy right now for me to focus on successful trading, so in the AM Friday trade window, I liquidated my entire trading portfolio. The timing seemed fine as the markets just rallied nicely. And all the positions were profitable, so locking in the profits was also satsifactory.

I have a major international conference upcoming, so I need next week to prepare and the following week for travel and the meeting. I'm also taking the opportunity to take a much needed vacation. So I'll be out the markets until Sept. 11th or so. I may also need a couple more days to get charts setup and the historical prices necessary to receive alerts. In the meantime, I hope the market rallies as my Roth portfolio could use a lift.

Here are the trade details--Sold HET, 1.24627 shrs @ $63.49, sold WNC, 4.67289 shrs @ $13.28, and sold OCAS, 10.71006 shrs @ $25.33.

HET: +$5.63 or +3.75% net

WNC: +$4.10 or +3.42% net

OCAS: +3.12 or +1.16% net

In short, I'm happy to take the profits. WNC recovered nicely at the close and I wish I was still in it, but the percent gain is fine. I'll also assume my August is over and the results are:

August: +16.89 or +7.62% net in 7 trades

A good month, considering it's stereotype and I look forward to trading this fall, which is usually a good time for the markets.

For now (and a while),
Masterjaz out

It's been a while...

Sorry I've been so truant in posting, but in reality, there has not been too much to say. I, luckily, was nearly 100% vested for the recent rally and have just been monitoring stop losses and targets. HET has just exploded and is now in the 1% trailing stop system. WNC closed 2c shy of my Target 1 and OCAS is slowly working higher.

I still have been downloading charts nightly, but nothing really piques my interest. Most stocks are short-term overbought (due to the recent rally) and need some time to base before the next move. I did like AMMD, EQ, and SUP yesterday. Even though I don't have capital to invest, I still like looking for setups and track how they would've worked had I traded.

Like always, I'll post any trades, but for now, I'm enjoying the gains (all paper...).

Masterjaz out

Pre-open 08-15-2006...

Great PPI number just crossed the wires and the futures market is nicely responding. If a similar number crosses tomorrow, watch out, the market will fly. It all depends on how the market holds the rally, as yesterday just bombed. On the trading front, I had to close the ROST trade yesterday as it just would not pop. Still, it was a small loss and that is the goal, large wins with small losses.

I received 74 charts yesterday and found 2 I liked: BLTI and OCAS. The BLTI play is risky, as the intraday volatility in the stock is huge. I am favoring the OCAS trade as it looks good, upside:downside is good as are CCI and Slow Stochastics. I'll see what it looks like at 11am.

For now,
Masterjaz out

OCAS...

Sure, after complaining I'm trading too much, I still trade day-in and day-out. This trade in OCAS fit all my criteria to a 'T', so I was comfortable taking the position even though I am concerned about my number of trades. There is also the issue of chasing the market after a big opening. Just yesterday, a big opening failed miserably. Oh well. My notes--

OCAS:

As for the other trades, HET is volatile today and WNC is recovering. I would love to get a good CPI report tomorrow that carries these stocks 2-3% or more. For now, I'll monitor my trades and take action as necessary. There is a tempation to close either HET or WNC or both as they are in the green, but I'll wait and see where they are at 2pm.

For now,
Masterjaz out

Too Much Trading...

Again, I am trading too much, but I decided to close a few trades and slow down. ROST sat near my stop loss of $23.00 all morning. I took 1/2 the position off the table in the morning, got a good price, and closed the position in the afternoon. I also took partial profits in HET after it gapped up nicely this morning. Gaps on both the upside and downside scare me a little. The stock could go either way. Taking profits here is a good move, and given my lack of success this month, locking in some cash is also nice.

Trade details: ROST (AM), sell 5.74631 shrs @ $32.06; (PM) sell 5.74631 shrs @ $22.938
HET (PM), sell 1.24637 shrs @ $61.383

ROST: -$3.86 or -1.44%

For now,
Masterjaz out

Pre-open 08-14-2006...

Ah, another week, and hopefully another winning trade or two. I am still concerned about the number of trades I made last week. Overtrading is an easy way to wreck one's portfolio. Yet, if the setups are valid and criteria met, the trades may be winners and profits follow. Time will tell. Even with the concern of overtrading, I am still looking at charts, looking for winners. 81 charts were downloaded on Friday and I like only four: RIG, ABI, AV, EK.

I think I will review my criteria this morning and reflect on previous trades in light of the trading checklist. I will be curious to note if I've pressed trades that do not meet all my demands. Other than that, it should be a busy week with CPI and PPI coming out. I sure could use an up week...

For now,
Masterjaz out

Friday's Trades...

I entered two trades on Friday and my notes are posted below. More importantly, I came to the conclusion that I am overtrading. While all the setups I have traded are good, the market is not supportive of the trading right now. One of my important criteria are an up market. Trying to trade against the tide is a difficult task. I will stick with these trades, but in the future, I am going to evalute my trades based on my critera and why am I trading. If I again notice that I am trading for greed, stimulus, etc., I'll pull the plug and wait for the market and ideal setups. For now, I march on with the three trades in play: ROST (which is at its stop loss), WNC, HET.

HET:

WNC:

For now,
Masterjaz out

Another Double Whammy...

Quick post to note that I entered two small trades today in HET and WNC, based on good charts, good industries, and an okay market. I'll provide my notes and commentary at the end of the day.

Masterjaz out

Pre-open 08-11-2006....

Crazy day, but a day to make money nonetheless. I did have to close the PEET trade and the stock went against me after I sold. I almost expect stocks to go up right after I sell. It does not bother me as I am more concerned with sticking to my stop losses than stocks that rise after the sell. The ROST trade worked for me and actually was included in charts today after a nice bullish engulfing--tomorrow could be great.

Speaking of charts, I received 324 charts from my script today. I think that is a record and more importantly, my favorite bullish engulfing is the dominant candlestick pattern. Good stuff. The sad part is many stocks are too bought to make a good base for entering a trade. I did find 13 charts that I like. I have a 1/2 position available if the market continues to improve. Hopfully ROST will continue to perform as well.

Watch list: COCO, JCOM, MOGN, MCRS, RHB, WNC, ROST, SXT, A, HET, HSY, ATW, CRR

As for the PEET trade: sold all 5.78481 shrs at $25.398

PEET: -$3.08 or -2.05%

I'll update my trades as needed.

For now,
Masterjaz out

Double Whammy...Part II...

The markets just died on me today, I thought I was recouping yesterday's losses in PEET and ROST, but no way. PEET just keeled over after 3:30 and blew through my stop loss. I'll have to sell in the morning. This is the one downside to my tradable windows rather than full-time trading. It's worth it though due to the decrease cost of trading.

I don't know what to say. I only received 24 charts from my script and there was no candidates in the group. August always is a tough month, but dang...

For now,
Masterjaz out

Double whammy...

An exciting day for the markets and my short-term portfolio. I boldy, and possibly foolishly, decided to take two positions ahead of the FOMC announcement today. The markets were highly volatile after the announcement and I am happy I did not lose as much as I might have...

As for the trades, I took positions in PEET and ROST (both consumer discretionary, yikes) after good mornings and all my criteria were met. My notes should explain it all...

PEET:

ROST:
A couple notes about these trades. It appears PEET followed the general market exactly after the announcement. Therefore, given it's proximity to the stop loss, a down market may force me to sell the stock. Also, I revised the ROST stop loss as it was far too tight, so I dropped it to $23 even, a <0.5%.

As for any trades for the morning, I did not see much in the charts. Most charts were overbought or just did not meet my criteria. It's all okay given the two positions I already have in place. I'll watch these trades and hope for a strong opening.

For now,
Masterjaz out

Pre-open 08-08-2006...

FED, FED, FED, that all there is to worry about today. Personally, I am banking on a pause, only because I think the market reflects that expectation and a hike could send everything spiraling. I'll find out tomorrow.

I do think there may be some upside, especially with well-chosen stocks. The FRK trade last week was not well chosen, but I have a few charts from those returned today. The script returned 196 and I like 13 (well close to that, I am having a hard time narrowing it down). The 13 are: GY, CEM, ROST, GPI, PEET, ARO, HNI, FRE, COO, SFD, AVP, LPX, and WFMI. Of those, I'm paying closest attention to: ROST, GPI, PEET, HNI, WFMI (1-day charts instead of the normal 3 month). They have the best looking charts with good upside:downside parameters. Also, most are consumer based companies and a pause may give them a pop. So positioning before the FED announcement will be critical.

As always, I'll post my trades (likely in the evening because I have far too much work to do this week), but if you are following the watch list, then you should be well positioned. I'll pray for the FED tonight and see what happens tomorrow.

For now,
Masterjaz out

End of the week summary...

I have a ton of things to post over the weekend, so much like the last, I will do it in parts rather than try to remember post everything at once.

Closed both the SPLS and FRK trades. SPLS was great, FRK not so much. Even though I lost a little on FRK, I certainly learned a few key points on how and when to trade. Comparing SPLS to FRK is quite informative. The main take-away from FRK is chasing stocks is dangerous. The stock was up 5.5% forming the bullish engulfing. That kind of move is what I want for my trades, so in many ways, the move was complete and I was late to the party.

PM window trade details: SPLS sold 6.14247 shrs @ $22.939 and FRK sold 3.75 shrs @ $38.547

SPLS: +$15.40 or +5.74%
FRK: -$4.42 or -2.97%

Very few charts returned after the close, 35 to be exact, and only two candidates from them: UIS and UTSI. The FRK trade makes me slightly gun-shy, but if the opportunity presents itself on Monday, I'll make the trade.

For now,
Masterjaz out

FRK...

Good morning thanks to the July jobs report, markets up nicely and SPLS just exploded. I took partial profits since the first target was met. Now, the trade enters a trailing stop methodology where I follow the price with incremental 1% stops. For example, the SPLS trade this morning occurred at $23.23. Therefore, my stop starts at $23.00 (or 1% below the sell price). If the stock rises by 1% to $23.46 then I'll move the stop to $23.23 and so on. I just created a quick Excel spreadsheet to do all the thinking for me.

I also entered a partial position in FRK. I may be chasing the stock here a bit and expecting too large a move. Yet, if the FED cooperates on Tuesday, the first target may easily be met.

My notes:

SPLS trade data: Sell 6.14245 shrs @ $23.23 (as always, I'll give full details once the trade is closed)

On a personal note, I may not be able to keep posting in near real-time. It is slightly interferring with my work, so I may not post my trades until the evening. That's life...

For now,
Masterjaz out

Pre-open 08-04-2006

Ah, Friday, thank goodness. What a week...Yesterday's reversal was a nice piece of work that supported my SPLS trade. In addition, the market bull engulf led to 299 charts returned by my script. I think that is a record. On 7-18 I had 215 charts returned and a sizable market rally the next day. Maybe the trend will continue.

Watch List: KEI, CPF, HZO, IRN, NDN, BOW, CNW, FRK, RDN, TUP, EMC, JDSU, PMCS, TGT, TLAB

I've been contemplating a trailing stop strategy for stocks that pass my first target on the way to my second and beyond. I think I'll set the initial stop at my sell price (at target 1) and then increase it in 1% increments. The stop may be a little tight, but I would rather take profits and have cash for the next trade rather than holding too long and having it reverse. I'll test the strategy on SPLS if (or should I say when) it reaches Target 1.

For now,
Masterjaz out

SPLS...

Entered a trade in SPLS after it fulfilled all my necessary criteria. Consumer stocks frighten me a little due to same-store sells numbers and the FED and all that mess, but this stock is looking good today and a quick trade may net some cash.

The trade is based on a bullish engulfing yesterday after a modest decline. A slow stochastic cross-over and up-trending CCI support the trade. The upside:downside ratio is a little weak, but I am running a tight stop to protect my capital. Normally, I'd place my stop at the low of the engulfing candle (~$21.25 in this case), but I've moved it up to ~$21.50 based on the early morning price action and the previous resistence the last few days. See my notes for the my targets

Notes:

For now,
Masterjaz out

Pre-open 08-03-2006...

I escaped yesterday with a minimal gain, what a relief given my mistake in selling PWR after earnings. As it turns out, the stock gained all-day and I sold too early. I am not upset missing the gains, I am more relieved that I did not lose my profits. July turned out to be a great month for quick trades and I hope August is the same.

I downloaded 103 charts yesterday and six caught my eye: NEW, GLW, DGIN, CTAS, SPLS, THC. Most are large cap, S&P500 stocks, that do not move great percentages in a short time, but they may this time around. After seeing the July results, I am feeling slightly skiddish in finding candidates. I am just going to follow my rules and only buy stocks that have the appropriate setups.

I'll post my trades as always if the market cooperates, otherwise, I'm happy being in cash given the volatile market.

For now,
Masterjaz out

Closed Trades...

I was super lucky on the PWR earnings and was happy to exit the trade this morning. Lucky, lucky, but learned as well. Never again...

Trade details: PWR sell 8.96923 shrs @ $16.15; PNRA sell 2.85385 shrs @ $51.34

PWR: +$19.13 or +7.22%

PNRA: -$3.49 or -2.33%

These were my last two trades of July so now I can present my July results. For simplicity, I am just going to show the dollar sum and percentage sum of the trades. Of course they will not be exact as trades had different positions ($150 vs. $268.18). But, because I don't reinvest profits (or loses), the percentages should work out. It really does not matter.

July: +$56.71 or +21.59% in 7 trades (Wow, better than I thought)

I'll download some charts tonight and let you know my plans in the morning.

For now,
Masterjaz out

Pre-open 08-02-2006...

Boy, yesterday I blew it, huge mistake. I was late closing the PWR trade and let it ride overnight. Earnings will be released before the open and I still have a 1/2 position open. I got distracted at work (dang manual labor) and missed my afternoon trading window. The trade is no longer about targets, stop losses, and managing risk; it's up to the gods...

I was considering closing the PNRA trade yesterday morning as well. It just does not 'feel' right and I think I rushed the trade. It was down signficantly after hours but only on 5411 shares traded. In reality, Yahoo! shows it down $0.60 on the final trade at 6:17pm whereas Nasdaq.com shows it down $0.20 at 4:01pm. I think Yahoo is likely correct, but maybe not... My guess is a weak market will force me out, but I may get a bounce if the market cooperates. Additionally, PNRA was not down as much as its sector according to Yahoo!, so maybe the trade will last. Time will tell...

As for trades in the morning, I'll have to wait for the PWR numbers and re-evaluate the position. Most likely I will close it either way. If they results are better than expected, then I'll take the money in run. If they are worse than expected, I'm up >7% so I have some downside support and I'll cash out. The tcl/tk script returned 146 charts. I am not going to go through them and just wait.

Lesson learned yesterday and today the lesson may be even harder. At least it is money that can be lost in the pursuit of the ultimate strategy! :)

For now,
Masterjaz out

Pre-open 08-01-2006...

And August arrives, the final month of the summer doldrums. Markets are looking slighly weak this morning, but yesterday had some rallies, necessary to close the month unchanged. It will likely be a choppy month, depending of course, on the FED.

As for trades, I am in two positions and not looking to enter another. I will need to close the PWR trade before the close today because they will be reporting earnings before the open tomorrow. I never, NEVER, hold trades through earnings. Why not play slots? It is the same thing, a gamble. As for the PRNA, I'm still slightly worried, but willing to trust my method.

99 charts were returned yesterday, but not many stood out. So I am going to wait out today and possibly tomorrow before looking to initiate a new trade. Guess I could work...

For now,
Masterjaz out