February Results (and a nil watchlist)...

For the second day in a row my watch list is nil. Oh well, buying a house and need to focus on that, rather than all the money lost the last few days. I can publish my February results, and for the first time, I batted 1.00. Never done that before and it sure took some luck.

February: +$19.98 or +6.63% (4 winners out of 4 total round-trip trades)

I cannot believe I am drawing blanks on the watch list, but am happy to keep my powder dry until this "correction" passes over. I love all these self-proclaimers calling for a correction. Nothing like self-fulfilling prophecies. Bullcrap, the market can go up without a correction, it can go sideways, and it can go down, that's what markets do. I'll be waiting in the wings with a warchest of cash while letting the talking heads/bloggers do their thing.

For now,
Masterjaz out

Better to be lucky...

Painful day...But lady luck was on my side (twice). First, yesterday DRS, my current swing trade, got within a penny of my stop loss and I did not flinch. And the stock recovered, so I felt good as I would have sold at the low of the day. Second, the markets were trashed today, but DRS had an amazing bid at $54.10, ten cents above my breakeven point. So I was able to sell this swing for a profit even though I was twice near my stop loss and the markets were tanked. By the way, DRS bombed later in the day, so keeping the stoploss in place was critical to my success. So I sold 5.55468 shares at $54.099.

DRS: +$0.50 or +0.17% (I'll take it given today's action!)

I'll post a watchlist and my February results later (will not be trading tomorrow as I am buying a house!).

Masterjaz out

A trade and a mistake...

Initiated a new position on Thursday, DRS, and got a little lucky. The market tanked right after my AM trade window and DRS was no exception. Luckily it bounced back, even having a huge after hours trade. This morning may be interesting. My notes:


As for the mistake, I completely forgot to download quotes and charts, so I don't have a watch list and will need a couple days to rebuild my historical data. After the close today, I'll only be able to scan for doji and will have to wait for Monday to scan for engulfings and stars. Oh well.

For now,
Masterjaz out

A trade and a mistake...

Initiated a new position on Thursday, DRS, and got a little lucky. The market tanked right after my AM trade window and DRS was no exception. Luckily it bounced back, even having a huge after hours trade. This morning may be interesting. My notes:


As for the mistake, I completely forgot to download quotes and charts, so I don't have a watch list and will need a couple days to rebuild my historical data. After the close today, I'll only be able to scan for doji and will have to wait for Monday to scan for engulfings and stars. Oh well.

For now,
Masterjaz out

All Out...

Sold the remaining 1/2 positions in HHS and SYY Wednesday. Both were weak and I was more than happy to lock in the profits.

Sold 5.64546 shares of HHS @ $27.509
Sold 4.37461 shares of SYY @ $34.552

HHS: +$7.79 or +2.60%
SYY: +$4.45 or +1.48%

A few stocks to watch: CTS, DRS, and PDLI

For now,
Masterjaz out

Pre-open 02-21-2007...

Maybe I'll keep ahead of the bell this week. Likely not, but it is worth a shot. SYY hit +2% today so I sold half and am tracking the other half with 1% stops. HHS is still chugging along although was nearly stopped out today, missed by a penny!

Sold 4.37462 shares @ $35.043

Watch list: BHE, ENZ, FLE, WTS, MENT, REG, and HP

I may start paper trading a new method. I will be rolling an IRA in the next couple months and I am thinking of using Zecco. In doing so, I'll have to re-evaluation how and when I enter a position. Currently I say buy at the window and wait 10-90 minutes for the transaction to occur. It is completely out of my hands. If I go with Zecco, I will have to make the decision when to buy--nervous, but I appreciate the control. My inkling is to use similar candles (i.e. doji and engulfings) to signal entries. I'll likely use 5 or 10 minute candlestick charts. On the flip side, I'll be able to take profits and sell stop losses instantly. That control will greatly help with the major slippage I experience with FolioFN. So, I'll paper/pretend trade for a month or two while I wait for the rollover.

For now,
Masterjaz out

Beyond late...

Hope nobody was expecting real-time posting. This week was unbelievably busy with Valentine's Day and tons of work. So, I am just getting time to post a trade I made on the 14th, SYY. A little commentary on the trade. Stock looking good in the AM until a huge block hit (~300k shares) and was filled without affecting the price. Following which the price drifted down. I interpreted the price action to be the distribution of that block, so figured the stock would stop dropping as soon as that block was covered. Sure enough, the stock appeared to resume rising, in tandem with the market, so I went in. My notes:

SYY:

As of today (5:30 pm EST), I am up 1.2% and have move my stop loss to break even. HHS is still rising, stop loss is current +4%.

For now,
Masterjaz out

Sell, sell, sell... (and a watch list)

MMM was on fire today thanks to an announced share buyback and an upgrade. I'll take it. Although I had to sell the entire position as it burned past numerous 1% targets then retraced to a sell. My new method is a little tricky, but I think it makes objectivity a snap and I'll profit in the end. The sells--
AM, sold 2.01298 shares @ $76.076
PM, sold 2.01298 shares @ $76.508

MMM net: +$7.15 or +2.38%

The benefit of this method is that I've made almost half my monthly goal (5%) in one trade. I like this method.

Watch list for tomorrow: WLM, WTS, BZH, KMX, SYY, and DW

For now,
Masterjaz out

Pre-open 02-13-2007...

Not much to say, sitting with a half position in HHS and a full position in MMM. Both have been moving very little for the last few days, but have been relatively strong compared to the market, so I'll take it. I did sell some HHS once it hit the 2% mark (which happened to be near the target I would've suggested using my old method).

Sold 5.64546 shares @ $27.009

A couple of stocks to watch today although I won't be trading: MATR, R, THO, and FO

For now,
Masterjaz out

Watch list for Friday...

Quick post as a nice cold beer is calling my name. Watch list: ABI, LNCR, CAG, and LXK. Watch a couple of these as the charts are a little dicey. HHS is nearing 2% gains and I will take partial profits there. MMM is treading water, no surprise (probably should not really swing trade DJIA stocks).

For now,
Masterjaz out

Two trades (HHS and MMM)...

The really nice charts on Tuesday night turned into two trades Wednesday morning. I am implementing a hybrid 1% moving trailing stop/price target system. I believe being more mechanical in my trading will allow my winners run, but prevent stocks from going against me like they have been recently doing. Check my notes:

HHS:


MMM:

Literally no stocks to watch Thursday morning. 120 charts and not one candidate. Oh well.

Masterjaz out

Pre-open 02-07-2006...

I think this is my first official watch list in a long time. Recently, I've been hiding candidates in other posts (not too worried about positions as I was fully invested). But now that I've left the poor SBIB and HOTT trades, I am ready to find the next winner.

Five nice charts to present, a couple are real beauties: HHS, MRX, MMM, PTV, and SSP

As always, I'll be watching the stocks, their sectors, and the market to see if my criteria are met.

Also, I am considering a new trailing stop method for my first targets. It seem ad hoc and slightly fortuitous to 'predict' targets based on support and resistence. Instead, I maybe should consider a target/stop loss system similar to the one I use once I've reached my first target. The problem is using a standard % does not work for all stocks. I could use an 'average true range'/historical volatility measure instead, but I may be introducing unknown downside risk. I may need to consider the initial stop loss as a mix of both support and % changes. I don't know, it is something to consider. I can demonstrate the problem with my current method. Look at TYC, I bought after the engulfing on the 23rd and got stopped out the next day. Had my stop been a little less tight--ring the register!!! So, there needs to be a compromise somewhere, I just don't know how to do it yet without introducing too much risk.

Anyways, for now,
Masterjaz out

Out of SBIB and Results for January...

Sold SBIB after it reached my stop loss and then some early in the trading session. These last two trades, although I still eeked out gains, sure did suffer from major 'slippage' or the price change between my desired stop loss and the price at which I was able to sell given my trading 'windows'. In the end, I remind myself that this about the method, not the money. If and when I am able to trade a more reasonable system, my stop losses would have saved me and I would have been much more profitable. Right now I am just perfecting my system, and making some money...So, sold 12.59589 shares @ $12.010 for a net of:

SBIB: +$2.53 or +0.843%

Also, with the close of this trade, I can report January results. Given all my critiquing this month, I am very happy with my results. I did give up 50% of my monthly gains on the SBIB+HOTT trades, but a month in the green is a month in the green.

January: +$8.63 or +3.51% (4 winners out of 6 trades)

We'll see what February brings...

For now,
Masterjaz out

A trade, A new rule, A stock to watch...

My current method is failing me. I have witnessed too many stock go from nice profits to break even to losses. Something is not working and the problem lies in the 'trailing stop loss' implementation. I only move the stop or sell if the level is violated/reached within 10 minutes of my trading window. HOTT today violated the stop loss, then jumped above right before the window. After the trading window closed, it proceeded to tank 2+%. Needless to say, I was upset.

NEW RULE: Trailing stop loss price targets are valid during all trading hours. The stop is lifted when the stock price reaches the upper target and the stock is sold if it violates the lower target--Seems obvious...

So, I sold the remaining HOTT (14.54898 shares @ $10.349) but it had a high of 10.70!!! with a net of:

HOTT: +$2.92 or +0.973%

I have moved my stop on SBIB after the PM trading window as it reached its target. It subsequently pulled back and is sitting on the lower stop. Tomorrow's action will determine the course of action.

Watch list (if you can call it that): AHG

For now,
Masterjaz out

Trades from Thursday, issues w/ objectivity

As the title alludes, I closed half of my positions in SBIB and HOTT on Thursday (but did not post here) and I am also struggling with objectivity. First the trades: Thursday morning started well, especially given the FOMC-initiated rally Wednesday afternoon. Both my trades neared their Target1's and I sold half the positions. Trade details below.

SBIB: Sold12.59568 shares @ $12.009 (transaction took way too long, suffered some slippage)
HOTT: Sold 14.45898 shares @ $10.472 (again, major slippage)

Although I did suffer some major slippage, both trades were not even at their Target1 prices. I choked, locked in profits early at the expense of the continued rally seen today. This is where the bad objectivity comes in. On both these trades, I set lofty targets and tight stop losses. Given I was stopped out on both TYC and SMSC recently, I began second guessing my stops. I even let SBIB blow through my stop early Wednesday, thank god the FOMC saved my butt.

I don't know what I am going to do about this. On one hand, taking profits early is not big deal. I still let 1/2 the position run with a 1% trailing stop, so I will capitalize on any continued strength. Not acting on intial stops is a different story. Once I set a stop, it must be honored at all times. Either the stock is failing or I placed a bad stop, either way, I must sell, re-evaluate, and move on to the next trade. That is the only way to stay objective.

I'll post any decisions I make. I may look into historical volatility to get an idea of expected moves, or go with looser stops. If the set-up is good, the stock should appreciate and stops won't be of consequence, but if the market tanks, the set-up fails, or something else happens, I must get out.

For now,
Masterjaz out

HOTT...

Am I referring to the market or the stock? Both? Obviously the market just loved the FOMC statement and both SBIB, my trade from Monday, and HOTT, my new trade initiated in the morning took off nicely. Some traders really worry about having open positions during FOMC, thinking the volatility and lack of predictable market direction does not provide a trading edge. On the other hand, I have made plenty of money by having open positions. I am not going to argue either side, just state that I've had success.

As I mentioned, I initiated a postion in HOTT yesterday. A great chart and a nice little rise at the open convinced me that this stock is poised to pop. I actually got a good price as well, so thinks are looking okay. My first target is lofty, but the chart supports the target price. My notes...
Also, a few stocks to watch today. I really don't have much expendible capital, but am still going through the motions. A, GPN, DG, and SHLD.

For now,
Masterjaz out