Closet Daytrader - est. March 2007

What’s On My Watchlist?

noreply@blogger.com (Closet Daytrader) — Sun, 13 Mar 2011 20:51:00 PDT

Here’s what I have on my watchlist.

WYNN

CAAS

BKD

PWER

NTAP

BIDU

HERO

CROX

ITW

CNI

TBL

LUK

VRX

HYC

WNR

ALJ

VLO

TSO

$HDY – Swing Trade Idea

noreply@blogger.com (Closet Daytrader) — Sun, 13 Mar 2011 18:03:00 PDT

What really caught my attention on HDY is the Inside, NR7, Hammer bar painted on March 3rd
Although there are 2 very obvious Resistances ahead, I feel that even if my Stop is set to a conservative $5.00 even, I could still get a +2R return
I see this as a second opportunity to trade this stock
Time will tell if I’m right on this one

$RL – Let Me Give it a Second Try

noreply@blogger.com (Closet Daytrader) — Sun, 13 Mar 2011 17:42:00 PDT

I bought some Ralph Lauren back on Valentine’s Day, and I got Stopped out a few days later.
In hindsight, my Entry was maybe a bit far away from the EMA
Now that the EMA is closing in(to) the shadow of a Hammer-like bar, I’m going to give it another try
My Entry and Stop are the White and Red line on the chart respectively

$WFMI – Long Term Trade

noreply@blogger.com (Closet Daytrader) — Sun, 13 Mar 2011 16:24:00 PDT

$WFMI was mentioned on Ivanhoff Captial, and prompted me to take a quick look.

I first noticed a Wedge forming from the past 1.5 months, since the gap-up that occurred back in early-February

Extending the chart further reveals that the Support (Lower) Level of the Wedge also served as the Resistance (Upper) slope of the rising trendline from last year. It’s an example of a Resistance Line turn to become the Support Line.

Jumping over to the weekly chart, I plotted a Fibonacci Line using the high of Jan 06’, and the low of December 08’, and noticed that the most of the major Fib. Points aligns with major Support/Resistance level throughout the years.

My Entry will be the at the break of the Upper Wedge (see White Line), and my Stop will be just underneath the Lower Wedge, below the the long shadows (see Red Line). My Target will be the high of Jan 06’.

UMPQ – Short – Swing

noreply@blogger.com (Closet Daytrader) — Thu, 24 Feb 2011 19:08:00 PST

I shorted UMPQ on Tuesday during the opening hour
My Stop was conservatively set to the High of Friday
My Target of $11.00 (round dollar) was reach today, and I exited my entire position

IWM – Stopped Out

noreply@blogger.com (Closet Daytrader) — Wed, 23 Feb 2011 18:38:00 PST

The Stop was pushed up. See bottom red line for original Stop

XLB – Stopped Out

noreply@blogger.com (Closet Daytrader) — Wed, 23 Feb 2011 18:35:00 PST

Was that not a total Bearish Engulfing bar painted on the 3rd bar from the right?
I’ll soon find out if my adjusted Stop saved me some money

MDY – Stopped Out

noreply@blogger.com (Closet Daytrader) — Wed, 23 Feb 2011 18:30:00 PST

I entered Long on MDY back in early February
I set out not to turn this winning trade into a losing trade
However, I was just too greedy
The Hammer Bearish Reversal on Friday should have set off a sell signal
Looking back now, I should have set my Stop more aggressively at high $175.xx
But hindsight is always perfect, isn’t it?

MOO – Stopped Out

noreply@blogger.com (Closet Daytrader) — Tue, 22 Feb 2011 18:25:00 PST

MOO was a purchase made back in January
As you can see, my ‘adjusted’ Stop was triggered, and
It appears that my original Stop was set nicely at the Support Level of round number $53.00

RL – Stopped Out

noreply@blogger.com (Closet Daytrader) — Tue, 22 Feb 2011 18:20:00 PST

While I tried to be romantic by buying some Ralph Laurens on Valentine’s Day… in turns out that just like almost everything that you buy on Valentine’s Day… they are COSTLY!
The red line was my Stop

YSI – Stopped Out

noreply@blogger.com (Closet Daytrader) — Tue, 22 Feb 2011 18:15:00 PST

I made an Entry on Friday to go Long on YSI
Thursdays Inside Hammer was what drew my attention
My original Stop was at $9.80-ish
My Entry wasn’t rock solid, so I moved my Stop up to $9.9x, and it was trigger

MMM – Stopped-out

noreply@blogger.com (Closet Daytrader) — Tue, 22 Feb 2011 18:07:00 PST

I’ve been moving up my Stops to…

Limit my losses
Increase my position in cash

… until things stabilize. Below are a few positions that hit my Stop in the past 2 trading sessions.

Tuesday’s

MMM

I’ve lost the entire 1R when I tried to chase an entry on MMM
It turns out that my Stop at $92.00 was a well placed security
I expect prices to $89.50 before getting Support

In hindsight, it was a great opportunity for a day-trade with an entry-point located at the break of the Bear Flag, or Opening Low
There are still some decent profits if you place your Stop at the High of the 2nd bar

MMM – Swing – A Chase

noreply@blogger.com (Closet Daytrader) — Sun, 20 Feb 2011 21:47:00 PST

Pulling the Fibonacci from March 09’ low to October 10’ high shows that the prices have just moved past the Resistance 2 weeks ago

I’m attempting a chase here…
My Entry will be the top of the Hammer, just above the round-number of $93
My Stop will just the underneath of round-number $92
My Target will be the 138% Fib of $110
If my Target is reach, this trade would yield some good profit

IRM – Swing - Long

noreply@blogger.com (Closet Daytrader) — Sun, 20 Feb 2011 21:37:00 PST

Inside Hammer with Support from 5ema
Stop is aggressively set at the bottom of the Hammer
Target is the mid-April high of $28

PPDI – Swing - Long

noreply@blogger.com (Closet Daytrader) — Sun, 20 Feb 2011 21:31:00 PST

A Reversal, followed by a Confirmation bar
My Entry is the white line
My Stop is the red line
My Target is the blue line

WYNN – Weekly – Monitoring for Potential Pull-back Entry

noreply@blogger.com (Closet Daytrader) — Sun, 20 Feb 2011 18:32:00 PST

I expect $130 to be the round number pivot point.
Prices should retrace back to the 5ema, and I’m guessing they will meet at around $124 level
I will be watching this for a Swing entry

XES - Cup and Handle Pattern Setup

noreply@blogger.com (Closet Daytrader) — Sun, 25 Jul 2010 17:50:00 PDT

Entry at 28.25
Stop at 25.95
Target at April’s high of 33.46
ETA 1 month!

EWU – Swing - Setup

noreply@blogger.com (Closet Daytrader) — Thu, 15 Apr 2010 07:26:00 PDT

Head and Shoulder setup on the weekly
Spike in volume 2 weeks ago
Volume dies down as prices consolidate

White line is the Entry
Red line is the Stop

OSK - Triggered

noreply@blogger.com (Closet Daytrader) — Wed, 14 Apr 2010 06:03:00 PDT

I called out OSK setup on Monday via this post.

Yesterday, OSK was triggered.

Let’s see where OSK will take us.

NTY – Swing Trade – Setup

noreply@blogger.com (Closet Daytrader) — Mon, 12 Apr 2010 16:23:00 PDT

I see a Cup & Handle setup on NTY
My Entry is just above the white line
My Stop is where the red line is, which in my opinion, is the Pivot Point of NTY in the past few months. Instead of using the low of 3/31 ($48.00) as my Stop, I’m going to be a bit aggressive here and set my Stop at just under $49 instead.

My Target is $55, which is the High that was set back in early 2007.

APA – Long Term Trade – Setup

noreply@blogger.com (Closet Daytrader) — Mon, 12 Apr 2010 14:12:00 PDT

A Fib between the Low in Feb' 09’ and the High in June 08’ shows the current prices channeling between the 61% and 50% region

My Entry will be just above $108
My Stop will be set conservatively at the early Feb. Low of just under $95
My Primary Target is around the $120 area, while my Secondary Target is at around $140.

OSK – Long Term Trade - Setup

noreply@blogger.com (Closet Daytrader) — Mon, 12 Apr 2010 09:10:00 PDT

The above chart is the Monthly Candle Stick of OSK
I drew a Fib. using the All-Time High from mid-2007, and the Low from late-2008
Prices are consolidating between the 50% and 61% Fib Level

This one above is a Daily Candle Stick of OSK
Multi-tops were formed from Dec., Mar., and April.
For now, my Entry is 2 cents above the $42 (even number)
My Stop is set conservatively at the Low of late February
My Target is the All-Time High of $63
I expect this trade would last about 12 months.

PPR – Setup

noreply@blogger.com (Closet Daytrader) — Fri, 09 Apr 2010 06:50:00 PDT

What do I see:

Prices closing in on All-time High (June, 2007) (see first chart)
A Hammer formed right above the 5 EMA on Thursday's Close (see second chart)
Wednesday's bar was an Inside NR7
Entry is above $6.11
Stop is under $6.17
Target is 7.84, which is 138% Fib
I have extra room on top and bottom because I don't want to be too aggressive with this trade

CATM - Setup

noreply@blogger.com (Closet Daytrader) — Fri, 09 Apr 2010 06:22:00 PDT

What do I see:

A significant increase in Volume from the first chart, from last week.
Prices reaching 52 weeks high
Support from both 5 and 34 EMAs
Entry will be above $13.50
Stop just under $11.74
Target at 138.2 Fib

DIS – Adjusted Stop Triggered

noreply@blogger.com (Closet Daytrader) — Tue, 26 Jan 2010 18:59:00 PST

As called out over the weekend, the Trend Line of DIS (Disney) was broken as of last week
I moved up my Stop to $29.45 level and it was triggered today