Tuesday, June 26, 2007

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

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