2 Favorites Added To My Hit List
Good morning!
I have reshuffled my equity portfolio and watch list. Here what’s happening in
my trading room today:
The DJIA
The system fired shorts on Friday when the
DJIA broke the lower channel line of 10597. Profits were added to on Monday
with the DJIA closing at 10536. In the premarket, the futures and Diamonds (Dow
ETF) are indicating an up open. I am holding the shorts into the open., stay
tuned to Traderswire
where I will advise of my exit in real time should it occur. status:
Short / profitable
Oil
Oil hit all time highs yesterday, further
pushing my shorts into the red. Due to the volatile nature of the energy market
and my conviction that a top is near in crude; I positioned sized the trade to
be able to withstand a 6 point adverse excursion before max pain is reached
forcing closure. It’s nice to see that Trading Market’s sage Kevin Haggerty is
expecting a potential pullback in crude. I am maintaining my short bias at this
time. status: Short/ loss
The Dollar
The EUR/USD pair surged above 1.2400 in
overnight trading. This level proved to be insurmountable resistance at this
time forcing the pair back down to 1.2365 as of this writing. My long pair
trade is nicely profitable from the entry at 1.2233. Holding here. status:
Long EUR/USD, Short Dollar/ profitable
US Equities:
I reshuffled this portfolio late in the day
Monday, jettisoned the trade losers and non-performing watch list trade
candidates. I normally reevaluate my stock trading on a weekly basis. Here’s
what’s happening:
(
GOOG |
Quote |
Chart |
News |
PowerRating):
This short continued to add to profits on
Monday. I just got word that insider George Reyes (CFO) sold 4565 shares at
296.76. The stock closed at 291.25 on Monday. Holding shorts from
298.10.status: Short/Proftable
GM: I am
removing this dog from the watch list today. status:
Removed
(
BOOM |
Quote |
Chart |
News |
PowerRating):
This one was a great trade last week. However, I am removing it from the watch
list today.status: Removed/Profitable
(
DNA |
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Chart |
News |
PowerRating):
Man, was I wrong on this one. I closed the trade yesterday with a loss.
status: Removed/Loss
My New Additions:
(
X |
Quote |
Chart |
News |
PowerRating): My
home-town favorite company, US Steel made it onto my watch list. I am looking
to go long should 43.53 be violated by my 3 minutes entry parameter. status:
Long bias/ Watch
(
ECA |
Quote |
Chart |
News |
PowerRating):
EnCana Corp. is exhibiting what appears to be topping behavior. I am waiting to
enter short should my analysis prove correct. The trigger figure for the shorts
is 43.13. status: Short bias/Watch
Best wishes in the market!
Dave G
David S. Goodboy:(marketsurfer), has been
trading for over 14 years. He trades ETFs, Eminis, stocks and options. His
primary focus is a unique index trading system based loosely on a combination of
the work of WD Gann, time/price cyclical studies, and mathematical models. David
has traded for and consulted with several hedge funds. His current project is
intrendX LLC , a multi strategy, global opportunistic fund.