Closet Daytrader - est. March 2007

The PUMA Index

noreply@blogger.com (Closet Daytrader) — Thu, 17 Sep 2009 17:19:00 PDT

Where was this program this time last year? Now Howard Lindzon and the StockTwits team need to come up with something like this for its Users!

$SUSQ Swing Trade Potential

noreply@blogger.com (Closet Daytrader) — Tue, 08 Sep 2009 01:25:00 PDT

Long > 5.39
Stop < 5.18
Target = 5.60 ~ 5.67

$DBC Swing Trade Potential

noreply@blogger.com (Closet Daytrader) — Tue, 08 Sep 2009 01:13:00 PDT

Entry > 21.67
Stop < 21.42
Target 22.05 ~ 22.30

$EFA Review

noreply@blogger.com (Closet Daytrader) — Tue, 08 Sep 2009 00:38:00 PDT

Moved my Stop to 42.45 level.

Swing Trade - Positioned - TDS

noreply@blogger.com (Closet Daytrader) — Mon, 13 Apr 2009 15:42:00 PDT

Here’s a trade on TDS that I took position last week. Things are looking good and I have just adjusted my Stop to $28.15 (Break-even). It’s no longer at $29.35 anymore!

Daytrade – Result – Win – INTU

noreply@blogger.com (Closet Daytrader) — Mon, 13 Apr 2009 15:13:00 PDT

My second trade of the day. What I saw…

2 consecutive inside bars and NR7 combination
A downward pressing 5ema
No Entry Bar
It’s obvious that I was trying to force a trade here
My Entry was under the white line below the low of the 2 combo bars
My Target was the Opening Low
My Short was triggered by the 8th bar
I thought I was Stopped Out when prices retraced back above my Stop, but it didn’t happen (see white circle on chart)
The long upper shadow on the 9th bar was caused by bad data
Another entry point could be the break of the 11th bar bottom
My Target was reached during the 12:30 bar

Daytrade – Result – Loss - STX

noreply@blogger.com (Closet Daytrader) — Mon, 13 Apr 2009 14:14:00 PDT

It’s been a long while since I last day-traded, and I’m thrilled to be participating this morning. My first trade was STX. What I saw was…

2 consecutive combo’s of Inside Bar + NR7
Although the 2 inside bars did not signal an entry for me, I decided to gamble and hope that prices will reach its Opening Low, for a small gain
Set Entry just below the Low of the 2 Inside Bars (see white line)
Stop was above the Red Bar
My Entry was triggered by the following bar (see 2nd chart)
Unfortunately, I was stopped out 15 minutes or so later during the next bar

Long Term Trade - FXE

noreply@blogger.com (Closet Daytrader) — Sun, 12 Apr 2009 15:14:00 PDT

Here’s another Long Term trade that I took position from last week
Please note that if my Target of $124 is reached, I intend to stay in position and evaluate the situation
Looking at this chart over the weekend, I noticed that the Target does not yield a full 2R return
The 2R minimum return is the new standard of all my entries from now on

Swing Trade – Positioned – TDS

noreply@blogger.com (Closet Daytrader) — Thu, 09 Apr 2009 20:54:00 PDT

Here’s a Short position that I’ve taken a few days ago that was able to weather the rally-storm today
Let’s hope that I can hit my Target on this one so that I can recover some of my losses from today

Swing Trade – Result – Loss – HCP

noreply@blogger.com (Closet Daytrader) — Thu, 09 Apr 2009 20:41:00 PDT

HCP looked a bit promising for about 2 days.
When I saw that red Doji yesterday, I was already a bit concern
I didn’t expect it to rally so strong!

Swing Trade – Result – Loss – AIV

noreply@blogger.com (Closet Daytrader) — Thu, 09 Apr 2009 20:33:00 PDT

I was hoping for a quick Swing Trade of AIV
I entered Short when prices fell below $6.11
Looking back at my setup now, I think I was a bit optimistic. $5.00 mark should be my Target instead of the mid-$4 range.
It never got there anyway

More Reference on Shorting GLD

noreply@blogger.com (Closet Daytrader) — Mon, 06 Apr 2009 18:52:00 PDT

Kevin posted his analysis on why he is bearish on GLD and his post can be found here. Meanwhile, my setup for trading/shorting GLD is posted here from earlier today.

Weekend Links – Non-Trading Related

noreply@blogger.com (Closet Daytrader) — Mon, 06 Apr 2009 13:39:00 PDT

On-line education anyone?

When in doubt, pick ‘C’!

100% Home Grown Ignorant.

Did the US participate in Earth Hour?

Twitoria – How many Twitter Friends are you really following?

How to add Windows Live Messenger to your website

BMW’s April Fool’s Jokes Collection

The drying reservoir (via Maoxian)

Long Term Trade – Setup - GLD

noreply@blogger.com (Closet Daytrader) — Mon, 06 Apr 2009 13:19:00 PDT

GLD is looking to test the 40EMA Support Level
Instead of using the 40EMA as Entry, I picked a round-number of $84.00 instead.
Protective Stop is another round-number of $88.00
Target is $72.00 and below.

Long Term Trade – Setup - EFA

noreply@blogger.com (Closet Daytrader) — Mon, 06 Apr 2009 13:12:00 PDT

Trying to catch a reversal on this setup
The trigger point is above the white line
Target is where the blue rectangle is with the bottom of the rectangle sitting at 2R
The Protective Stop is just under $31.55

Let’s see if this setup will get triggered!

Long Term Trade - XHB

noreply@blogger.com (Closet Daytrader) — Wed, 01 Apr 2009 20:21:00 PDT

I entered long on XHB on Monday. My Stop was set to just above the high point of last week. Let’s see if this trade will work out.

Laying low… to avoid lay-offs

noreply@blogger.com (Closet Daytrader) — Sat, 28 Mar 2009 08:36:00 PDT

Folks, I haven’t been trading (from work) lately because rumors are flying everywhere that the senior management is planning for some work-force reduction… a fancy term of the big “L” word known as lay-offs!

In addition, the management is trying to find every possible way to get rid people! Just the other day, someone from Marketing was ‘let-go’ because he was caught using bit-torrent software from his PERSONAL lap-top through the company’s network!

The last thing I want is to have someone caught me trading from work! As my Readers well know, my trading is not good enough to be profitable, not to mention sustaining a living.

Everyone is guessing that the ‘pink slips’ will be handed down in the next week or so. I will try to post some updates here whenever I could, when I’m NOT at work.

Best of luck to me! :-|

Weekend Links – Non-Trading Related

noreply@blogger.com (Closet Daytrader) — Sat, 28 Mar 2009 08:31:00 PDT

A site that tracks your hotel price

A very cool Nikon commercial

I didn’t know there’s such a thing as fake eggs

The to-do list for the unemployed

Google Chrome is too difficult to hack

The AIG “I quit'” letter

Everyone should cut down on salt intake

Madoff’s hourly rate

Should you trust Google Products?

How to embed Google Reader from within Outlook

A flying helicopter hotel that doesn’t even look real to me.

Weekend Links – Non-Trading Related

noreply@blogger.com (Closet Daytrader) — Sun, 15 Mar 2009 15:30:00 PDT

Only in Saudi Arabia. Is it because the roads are so sandy all the time?
How to climb up a cross… naked.
Maybe someone should hire his wife instead.
F U! per Mickey Mouse’s Chief.
How to send and receive Hotmail from your GMail Account.
Hudson River Landing CGI mixed with radio tower conversation.
A bottle of Perrier-Jouët Vintage 1825.
Looking for a brand new BMW M5 or M6?
A cool Twitter Plug-in for Windows Live Writer.

Chart of Interest - IEF

noreply@blogger.com (Closet Daytrader) — Tue, 24 Feb 2009 20:30:00 PST

What do I see?

Resistance become Support at $92.75-ish level (see white line.)
A higher Support was formed at $93, which happens to be the 50% Fib. from June low to December high

Action Item(s)?

None at the moment
But may consider Long using $93 as Support

I Need to Mix Things Up

noreply@blogger.com (Closet Daytrader) — Sat, 21 Feb 2009 18:49:00 PST

Things have changed!

Since I have (sort of) started trading again, I have noticed that my work-load at work is no longer the same as I used to when I first started this blog. It is getting increasingly difficult to find time to daytrade while at work. My responsibility at work has increased tremendously, and it translates to more meetings, emails, and administrative stuff. Although my company has just announced a plan to layoff some of its workforce. If I can avoid the layoff, it only means I will have even more work. And if I’m PART of the layoff, I guess I will have more time doing daytrading! For now, I have to be optimistic and assume that I will survive the layoff. Therefore, I need to re-strategize my trading.

No, I’m not quitting daytrading!

Instead, I have decided to mix things up a bit. Instead of solely focus on daytrading, I’m going to mix up my strategy with some swing trading and some long-term trading. I will still be involve in daytrading whenever I could. After all, I still see it as an unaccomplished task of mine. But should you find some longer term charts on my blog, I want to officially disclaim the reason here/now.

For now, I have decided NOT to change the name of my blog, nor my alias.

Until next time, Happy Trading!

Traders Anonymous Confessions

noreply@blogger.com (Closet Daytrader) — Wed, 11 Feb 2009 20:15:00 PST

Chart of Interest – XLK

noreply@blogger.com (Closet Daytrader) — Sun, 08 Feb 2009 23:21:00 PST

What do I see?

I don’t see much except that prices broke $16.49 Resistant

Action Item(s)?

None at this moment / Monitor for Long

Chart of Interest - XLE

noreply@blogger.com (Closet Daytrader) — Sun, 08 Feb 2009 23:13:00 PST

What do I see?

Pivot Point / Resistance at $53.28
I don’t see an Entry at the moment

Action Items?

None at this stage
Looking for a Long entry

Chart of Interest - SMH

noreply@blogger.com (Closet Daytrader) — Sun, 08 Feb 2009 23:05:00 PST

What I see?

A Cup and Handle formation
Pivot Points at $19.16 level
Gap-Resistance at $23.00, which could also be an even number resistance as well
Possible Long entry if prices close above the $19.16 level
However, R factor is not favorable if the Stop is set to $16.00

Action Item(s)?

None for now