Love the FOMC Chop

Took a position in CTSH before the FOMC minutes, and glad I did as it held up well. BRL is doing absolutely nothing, but it does remind me of trades a while back that took time to develop. As long as I remain objective, I'll be fine. See my notes below on CTSH. Had to mix things up a bit because the usual Stockcharts.com charts were unavaiable. I added my criteria check at the end of the day, so it is a little biased due to the price increase...

CTSH:


CCI: Yes, barely below -100
Stochastics: Yes, nice
Sector/Industry: Yes
Market: Yes
Industry > Market: Yes
Signal: Good engulfing
Upside::Downside > 2: 2.0 (with rounding, also, stop set at yesterday's open, not low)

I will be watching the following stocks tomorrow, may be an interesting day given it is the end of month, quarter, and half year...BPOP s, NCI s, and SGMS s. Not the prettiest charts but okay.

For now,
Masterjaz out

Holy--530 Charts downloaded today, how to chose

Practically every REIT, financial, home builder and tech stock printed monster bullish engulfings today, making it impossible to pick a nice, short watchlist. Somehow narrowed it down to 14, but even then, I may have missed a couple. Also, of the 14, some are much better than others with respect to volume and sector. Here they are (not looking forward to typing and linking them all): KDE s, CPY s, DSPG s, JBX s, LFUS s, MTH s, SHFL s, AFFX s, BLC s, CBRL s, CTSH s, MCHP s, MAT s, and SBUX s. Also note that some have very large bars leaving the risk:reward highly skewed toward the risk if the stop loss is set at today's low! I also noted that when looking on Yahoo! after the close (~6pm EST) a lot of stocks had significant after hours drops--don't know exactly is going on, pre-FOMC positioning?, but it was a curiousity...

For now,
Masterjaz out

BRL and Watchlist

Another choppy day for the markets. Took a position in BRL after it met my criteria (which I think I will elaborate or check off below). See my notes for some annotations of charts etc. Also, as mentioned yesterday, I had to sell RAH after it blew past my stop loss during yesterdays market tanking. Sold 5.50967 shrs @ $53.01 for a net of:

RAH: -$7.94 or -2.65% (high, although slippage was significant)

BRL:

CCI (below -100 and turning up): Yes
Stochastics (crossover below 25): Yes, a few bars back
Sector/Industry Up: Yes
Market Up: Yes (least important criterion)
Industry stronger than SP500 last 5 days: Yes (new criterion I'm testing)
Doji or Engulfing: Yes
Upside:Downside > 2: No, 1.57

I think posting these checklists will help improve my trading, especially my objectivity.

As for new candidates, not a lot to chose from, only 45 charts downloaded. I like ATK s and CLX s. Coming into earnings season, I need to remember to check for earnings announcements before buying...

For now,
Masterjaz out

Hmm, hmm, hmm, humming a song to ease my blues...

Another swing stock fails, but that is par for the year, no real worries, followed by system. Market is just sucking wind right now and my stock picks are as well. Sold KIM, 7.63262 shrs @ $38.994 for a net of: (luckily got out higher than my stop loss, stock tanked later in the day--the joy of objectivity)

KIM: -$2.37 or -0.79%

RAH will be sold in the morning as the later afternoon 'swoon' took it down hard. May have super slippage or may get a little bounce--don't care it is sold and I am moving on.

I'll be watching the following stocks (3 restaurants/casual dining, not the best picks): SONC s, EAT s, AMED s, GY s, PZZA s, and BRL s. As always, if my criteria are met and I make a trade, I'll post the transaction and my notes.

For now,
Masterjaz out

Monday Morning Update...

Had a new trade on Friday, KIM, and you can see my notes below. Weak day for the markets but both KIM and RAH held above my stop losses, so I'll have to see what happens today.

KIM:

I'll be watching NAPS s, THG s, TRB s, UTSI s, and WEN s today. Some are a little risky, but the charts are decent.

For now,
Masterjaz out

Finally out of VRTX...

The VRTX saga is over, finally. Stock took so much money from me, poor trading, poor results, hmm, interesting how that works. Stock hit my stop loss and I sold in the afternoon window. Just a dead stock, should've sold some at $28 when I had the chance, but it would've been subjective as well. That's the way it goes. Sold 10.96892 shrs @ $26.98 for a net of:

VRTX: -$4.07 or -1.36% (nice objective trade, just a dead stock)

But now I have two positions ready to be filled. Interesting market today, choppy, but maybe an upward trend is developing?...I'll be watching: AMED s, RRGB s, REG s, KIM s, SPF s, and BGP s tomorrow. SPF is the chart of the day, just a beaut!

For now,
Masterjaz out

Splat...

Markets just tanked this afternoon, too bad they took a couple good stocks with them. VRTX was acting wonderfully until the closing hour sell-off; no stop loss hit so maybe it can resume, with more vigor, tomorrow? Same with a new position in RAH, good morning, holding up and then splat. Stock was an objective purchase, met all my criteria and I likely would buy it again. Did not hit my stop loss, but the trigger is a whopping 2.2% from my entry, talk about leaving some room to work. Tomorrow is going to be interesting. I am expecting a continuation of today's sell-off (would actually embrace it as I have retirement cash waiting to be reinvested if the dip is big enough), but at the same time, I would like to have VRTX and RAH show some strength. Oh well. My notes on RAH and no candidates for tomorrow...


For now,
Masterjaz out

Staying Objective...

I like it when my plan works; I make moves according to my system and I make money. Sold the remaining 1/2 of my NEWP position. The stock opened above my 1% target, causing me to up my stop loss, then the stock hit the stop loss and I sold, just like I am supposed to. Ended up getting out 10c better than the close. Certainly not at the high, but within my desired range. Sold 10.33855 shrs @ $15.72 for a net of:

NEWP: +$16.54 or +5.51%

Some decent looking charts today, so I'll be watching the following stocks in the morning: AMED s, FED s (again), MRCY s, QSII s, RAH s, UFCS s (a little thin), VOL s, JCP s, and WRI s. Don't like having quite so many stocks to watch, but after trying to remove a couple, all the charts met my initial criteria, so kept them all.

For now,
Masterjaz out

More profits...

Now I am screwed, I have not had a trade this good in forever. NEWP is asking for a downgrade tomorrow--please don't let me be pyschic...

Not much to say, two stocks to watch Tuesday morning: FED s and DF s. Neither chart is great, just okay. More likely than not, I won't be trading. Focus on other work and let the setups come to me.

For now,
Masterjaz out

Wait, what, taking profits!?!?!...

Don't know how long it has been since a stock has gone in my favor, hit a target, and I locked in profits. NEWP gave me the opportunity on Friday, and boy was I eager. I don't think I'm getting back to old form, but maybe things are starting to turn. Most likely, my trades will return to the trash bin, we'll see. Sold 10.33856 shrs @ $14.90 (0.10 above my target). I now am running the standard stop loss and will post final P/L after the position is closed. I am also working off my VRTX trades. Only have one full position in play and am looking for the stock to crash and burn tomorrow, such optimism!

No candidates over the weekend as only 38 charts were downloaded (mostly dojis), but nothing looked reasonable.

For now,
Masterjaz out

Buying, Selling, Watching, trying to figure it out...(Round 2)...

Right, less trading, hmm, not following thru as I made another purchase today, but I also, wisely, sold some VRTX as it actually was higher on the session--only to close a few pennies in the red--POS stock for sure. Sold 5.34165 shrs @ $27.66 and currently identified those to the the older lot. Bought NEWP after it easily satisfied all my morning criteria, even posted a bullish engulfing after yesterday's doji. See my notes:

I'll be watching: ATO s, BPFH s, BLUD s, LII s, MCRS s, CPRT s, FAF s, and DHI s tomorrow although I don't have much trading capital. Depending on the CPI, it could be a really boring or exciting day--and don't forget options expiration. What a week to be trading!!!

For now,
Masterjaz out

Buying, Selling, Watching, trying to figure it out...

Objectively sold ABK in the morning after it violated my stop loss, a loss, but an objective one, so I'll take it. I am attempting to be very mechanical in my trading, I think I've been too predictive and not reactive enough. Stocks will go wherever they wish, I just need to ride the winners and dump the losers. Also took a rare afternoon trade in VRTX (see notes below) after it posted a nice engulfing mid-day and satisfied every single criteria I test. Odd to see it did not trade higher in the afternoon with the rest of the market. Still a gamble, but a managable one--presenting at a conference after the close and the PPI tomorrow morning... Sold 3.37044 shrs of ABK @ $86.947 for a net of:

ABK: -$6.95 or -2.32% (this one was objective and with less slippage would've been okay...)

VRTX:

As for my watchlist, have a good number of candidates, but all fit my charting criteria: AGL s, BWS s, HE s, NEWP s, LLY s, MCK s, REGN s, SMP s, LPX s.

As always, I'll post trades if any are made.

Masterjaz out

Nothing changes...

Sold another loser today after it violated my stop loss. Luckily it recovered into the AM sell window. This one gets me, got a horrible fill a few days back and seemed doomed to fail. Oh well. Sold 37.97468 shrs of ARQL at $7.66 for a net of:

ARQL: -$9.12 or -3.04%

Might big negative numbers, nothing like risking it, going for broke! Really starting to focus my trading, picking winners. I am also looking at external criteria provided by other websites to help dial in my trades. If things look good, I'll post my method.

I'm be watching the following stocks tomorrow: INTL s, MLNM s, MANT s, TRMB s, and QCOM s. I also have a new scanner that brought up OSIP s. I'll be watching these other stocks as well, they are just not in the S&P1500 super composite. I may also be tempted to trade around my stupid VRTX trade given its late afternoon strength, 5 days down, and severly oversold condition. Revenge trading of sorts, but at support with decent upside potential--probably stupid.

For now,
Masterjaz out

Cannot find a winner...

I'm starting to sound like a broken record--bought XXX, sold XXX after stop loss hit, nothing is having multi-day, up moves, sucks to be me...That's the way it goes, the markets are certainly testing my patience, skill, dedication, and tolerance right now. Guess I kinda like it. Of course, there is the VRTX trade that is down 6% that I am basically ignoring...

Sold LEA after it hit my stop loss early in the session. Did recover into the sell AM window, so got out with minimal damage. Sold 8.39866 shrs @ $35.519 for a net of:
LEA: -$1.69 or -0.563% (in range with expectations and the system, okay trade...).

Since I love trading so, so much, I did enter two new positions (can I say, overtrading!!!). See notes below--this will be interesting as I can test (albeit with a small sample size) whether having a stock higher or lower than its industry over the past 5 days helps identify winners (ABK above, ARQL below).

ABK:

ARQL:

I also have a watchlist, but no capital. Check out NJR s, CA s, and RAH s. Sometimes I should just wait and see rather than overtrade like I did today--and all year...RAH looks like a decent setup as does NJR (both first time candidates...). Oh well, no money...

Masterjaz out

Waiting for Monday...

Friday, a good day, but I cannot get VRTX to appreciate, oh well. Never should've added to the losing position--one of those barn burners that remind me how to really make money and how to lose it. LEA on the other hand is trying to pop, actually posted a nice engulfing on Friday confirming my original buy...

As for Monday's candidates, here they are: AGP s, PNW s, ARQL s, UNS s ABK s, C s, WAG s, WLP s, MAT s. It's a lot of candidates, just wish I did not have capital tied up in VRTX.

For now,
Masterjaz out

That hurt...

VRTX just kicked me in the crotch today, not surprising since the trade was completely blown, subjective, and doomed from the beginning. Sold the first position, one initiated on Tuesday, for a huge loss. Still holding yesterday's position, but it is way underwater. Luckily, LEA is holding strong, but I am not going to hold my breath. So, sold 10.12146 shrs of VRTX @ $28.44 (good price) for a net of:

VRTX: -$12.15 or -4.05% (stupid, stupid...)

On the bright side, I'll be watching the following stocks for ideal setups tomorrow, otherwise, I'll hold the LEA and VRTX positions: Just kidding, no candidates for Friday--easy day of trading, guess I can practice my day trading...

I did appreciate the selloff today, as I had funds in a retirement account that needed investing and the market's little swoon provided a nice opportunity to put part of those funds to work. Maybe I'll do more of that tomorrow, if the market makes it four down days in a row.

For now,
Masterjaz out

Oh the damage, and a watchlist...

Nothing like trading like an idiot--making trades for the sake of making trades. Horrible, need to start waiting for ideal setups, just take the balls, take the strikes, and hit the homeruns. Oh well, see my notes to see my stupidity.

VRTX (round 2) and blew stop on the first position--dumb:

LEA:

As for a watchlist, I'll be watching:BRLK s, MPS s, LUV s


For now,
Masterjaz out

VRTX Trade and watchlist...

Back to trading and feeling okay. Of course, I ended up getting my AM window order filled right near the high of the day, but that is the way it goes. I cannot wait for the day when I have control over the timing of my trades--first have to reassure myself the method is viable! Bought 10.12146 shares of VRTX after it put in a nice doji/hammer in the AM, touching support at 29 and recovering nicely. Had I been able to purchase at my choice, I would have selected ~29.50 as a good entry. Here are my notes:

VRTX:


I'll be watching LEA (s) tomorrow. Stock is a buyout/bought candidate, but has seen reasonable movements in the last few months. Nice engulfing right at support.

For now,
Masterjaz out

I'm Back and Ready to Resume Trading...

Really did not advertise, nor really care to, but I've been away from actively trading stocks for the past few weeks. My trading was poor, I was busy at work, and we just added a puppy to our already hectic lives, so trading was the first thing to go. It was a lovely reprieve, but now I am ready to trade.

Only one stock to watch today as I only had doji signals, more will follow on Tuesday and through the rest of the week:VRTX s.

So, we'll see what happens and hopefully I'll come back winning.

For now,
Masterjaz out