401k: No trades, still holding AAPL.
Trading Account: I got stopped out of my long TNA intraday trade this morning with a loss that was more than my risk thanks to the gap down. The good news is I got another long signal off the lunch time lows and made it all back plus a few bucks. So the day was a wash. I also sold my remaining shares of MGAM at the open as noted last night, it had an ugly day yesterday and closed under the 4ema.
So for the first time in a while, my trading account is in 100% cash. If we rally in the morning I'll be looking for a short signal for the afternoon since it is Friday...not to mention Friday the 13th!
The market itself continues its range bound behavior, buyers at support and sellers at resistance, no follow through in either direction. It will resolve itself and when it does I will be there.
Good night.
July 12, 2012
July 11, 2012
Trades Update
401k: No trades. I have less than 10% of the account still in AAPL.
Trading Account: I was in a meeting most of the day so I only had access for a while. One of those times was right at the close, when I got a long signal on the intraday TNA strategy. Still holding MGAM, but that is mainly because I was busy entering the TNA trade. I will be selling MGAM stat in the morning after it closed below its 4ema.
Market view: Market is a bit oversold short term. Seems it wasn't that long ago I thought it was overbought, that was last Thursday night. That breadth thrust we got fizzled out pretty quick and is looking more like a range again. If you blinked or went on vacation for the 4th, you missed it, and were welcomed back to 3 days of crap.
I'm going to be slammed at work for the next few days so hopefully the market doesn't do too much, but I'll be trading when I can if the signal comes.
Night.
Trading Account: I was in a meeting most of the day so I only had access for a while. One of those times was right at the close, when I got a long signal on the intraday TNA strategy. Still holding MGAM, but that is mainly because I was busy entering the TNA trade. I will be selling MGAM stat in the morning after it closed below its 4ema.
Market view: Market is a bit oversold short term. Seems it wasn't that long ago I thought it was overbought, that was last Thursday night. That breadth thrust we got fizzled out pretty quick and is looking more like a range again. If you blinked or went on vacation for the 4th, you missed it, and were welcomed back to 3 days of crap.
I'm going to be slammed at work for the next few days so hopefully the market doesn't do too much, but I'll be trading when I can if the signal comes.
Night.
July 10, 2012
Trades Update
401k:
V: Exited V on market weakness and the fact that it did not recover yesterday's downgrade move.
TNA: Also exited the TNA trade at break-even, as my stop had already moved to entry. It got less than a buck away from my target price before turning down. Bummer. The 10-day ratio on MM fell below 2 today, but the market was down 4 days in a row so I did not take the signal per the method.
AAPL: Still hold my few shares of AAPL and the rest is socked away in cash.
Trading Account:
AAPL: Exited AAPL for a $30/share profit. It came to far from the $620 highs when it got to $610, which is when I sold. I had more than half my account in the stock so it made for a nice quiet gain on capital.
TNA (long intraday): I also exited an intraday TNA trade from yesterday: I exited half in pre-market at $1 profit and the rest hit my stop at my entry price, so I made 50c a share there. Small, but I'll take it all day. The intraday signal for TNA did not trigger today but it may trigger a short term bounce entry tomorrow given we have gotten a bit oversold short term.
MGAM: I still hold MGAM and am riding the 4ema with half my original position; it held up very well today and was actually up almost 2% in a crap market. This now my only position and a small one at that.
Night.
V: Exited V on market weakness and the fact that it did not recover yesterday's downgrade move.
TNA: Also exited the TNA trade at break-even, as my stop had already moved to entry. It got less than a buck away from my target price before turning down. Bummer. The 10-day ratio on MM fell below 2 today, but the market was down 4 days in a row so I did not take the signal per the method.
AAPL: Still hold my few shares of AAPL and the rest is socked away in cash.
Trading Account:
AAPL: Exited AAPL for a $30/share profit. It came to far from the $620 highs when it got to $610, which is when I sold. I had more than half my account in the stock so it made for a nice quiet gain on capital.
TNA (long intraday): I also exited an intraday TNA trade from yesterday: I exited half in pre-market at $1 profit and the rest hit my stop at my entry price, so I made 50c a share there. Small, but I'll take it all day. The intraday signal for TNA did not trigger today but it may trigger a short term bounce entry tomorrow given we have gotten a bit oversold short term.
MGAM: I still hold MGAM and am riding the 4ema with half my original position; it held up very well today and was actually up almost 2% in a crap market. This now my only position and a small one at that.
Night.
July 9, 2012
Trades Update
401k: No trades. Got a downgrade from UBS on V, thanks guys. V recovered nicely but it was at 52-week highs when it got downgraded. Makes you wonder. At any rate, still holding AAPL and long TNA.
Trading Account: Sold TNA intraday trade on the morning decline, 0.5% loss on that. Entered another long TNA intraday trade at around 11:00 and watched the paint dry till the close. It sits near entry and looks like I'll have to pay attention to the open again in the morning. Still holding AAPL and half position in MGAM.
Market looks like it is at least taking a rest, selling has not been very heavy the last two days of decline. Certain stocks have held up well and some are setting up. My favorite is AMZN which is quietly consolidating under its highs. Get the feeling earnings may boost it through if it breaks out, of course that could go the other way as well.
Regarding my TNA method, I found one mistake in my testing and am in the process of re-performing it just to double check everything. I did the testing in late 2011 so it is a good refresher. I will have a couple of changes to make to it after my testing is done. I also added another year to my testing since the data was still available in the old Telechart. The method is currently long with a stop at entry.
Have a good night.
Trading Account: Sold TNA intraday trade on the morning decline, 0.5% loss on that. Entered another long TNA intraday trade at around 11:00 and watched the paint dry till the close. It sits near entry and looks like I'll have to pay attention to the open again in the morning. Still holding AAPL and half position in MGAM.
Market looks like it is at least taking a rest, selling has not been very heavy the last two days of decline. Certain stocks have held up well and some are setting up. My favorite is AMZN which is quietly consolidating under its highs. Get the feeling earnings may boost it through if it breaks out, of course that could go the other way as well.
Regarding my TNA method, I found one mistake in my testing and am in the process of re-performing it just to double check everything. I did the testing in late 2011 so it is a good refresher. I will have a couple of changes to make to it after my testing is done. I also added another year to my testing since the data was still available in the old Telechart. The method is currently long with a stop at entry.
Have a good night.
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