Trading with the Average Jay

Sprint Nextel Corporation morning trade plan

2012-02-13T08:18:00.001-06:00

Monday morning swing trade idea is a LONG trade entry in Sprint Nextel Corporation (Public, NYSE:S.) Wait for an push into the entry zone and buy above $2.14 on the confirming break out. Profit zone is based on a previous supply area on the daily chart.

Update EOD: No trade as S stayed above entry zone.

Charts courtesy of TradeStation.

Ford Motor Company (Public, NYSE:F)

2012-02-09T08:28:00.002-06:00

Just a quick glance at the Ford Motor Company (Public, NYSE:F) chart. Here is two zones that might be good shorting opportunities. May take a day or two to hit them, but patience is a virtue.

UPDATE: 2/12/12. No trade entry targets not met.

NYSE:F 12.44

-0.25 (-1.97%)

Feb 10 - Close

NYSE real-time data - Disclaimer

Currency in USD

Trying to get my smile back

2012-01-31T15:42:00.001-06:00

Geraldine R. Famularo
Jul. 11, 1920 - Dec. 16, 2011 Thank you to all who visited my blog over the last two month. My mother passed away in her sleep to meet her loving husband last month. I was able to visit her before she passed that Friday morning, and tell her how much I loved her. I've not felt a bit of excitement to even look at the market since early November when she started to take a turn for the worse. I will once again be back soon.

Time out

2011-11-28T07:59:00.001-06:00

I've had family health issues for the last month so I will be posting when ever I can. Thanks to all those who stop by. May the upcoming season bring blessing to you all. Jay

Today's trades

2011-10-27T10:08:00.002-05:00

Took way to many small trades today, and closed shop after reaching a $47 loss. I seem to be fighting the whole market and getting off plan. I did miss the one big trade today on EXPE and I think that it cause me to try to fight back.

Had two winners in WFC for small gains and one loss.
Two losses on C.
One loss in HAS

Like the song says you got to know when to fold them. For me closing shop with a minimal loss is a winner for my confidence.

Time to go run the treadmill.

The Boeing Company / Citigroup Inc. / Wells Fargo

2011-10-26T10:21:00.003-05:00

This short trade in The Boeing Company (Public, NYSE:BA) set up was sent to me from my good stock trading friend Anees. He drew out the Supply and Demand lines late last night and shot an email over to me. I wrote back this morning that I thought it was a long shot to get up to the supply level, but lets throw in our limit order and see if she gets hit. Our short limit orders were hit and we both covered below.
Profitable trade.

Short trade open in Citigroup Inc.

(Public, NYSE:C) on hit of trend line on five minute chart. Profit target was set for .01 in front of days low. Profit target hit.
Profitable trade

Wells fargo & Company

(Public, NYSE:WFC) short day trade. I stayed to long, but closed out before the market finished for the day. No carrying overnight. Finished the day profitable. Trade Loss.

UPDATE 10/27 8:19am Here's why if your trading never ever hold overnight. Pre-Market Real-Time: 26.85 1.09 (4.23%) 8:15AM EDT

Citigroup Inc.

2011-10-25T11:02:00.003-05:00

Long trade open at 11:36 in Citigroup Inc. (Public, NYSE:C) using my 0.24 rule below the prior low of the day. Profit target is $30.79 top of prior inter day supply zone. I'm not trying to hit home runs here like my Texas Rangers, but four singles always scores a run.
Profitable trade UPDATE: Looks like I left money on the table as she continued up. Sometimes it just works that way. This is a good way to work on killing the greed monster.

After hours thoughts. I was sitting in front of the machine for the last hour of the trading day looking for one more trade. I vowed I would not trade in the middle of playing field, so I would ether break all the rules or do the right thing. I hit the big X and closed down for the day. Hope your day was a profitable one.
Drop a comment if you have the time.

Starbucks Corporation / Kohl's Corporation / Wells Fargo

2011-10-24T12:38:00.013-05:00

Long trade opened Starbucks Corporation (Public, NASDAQ:SBUX) at $42.77 on break above prior resistance. My profit target was $42.95 the prior high of the day. Profit target hit.

Profitable trade.

Short trade open Kohl's Corporation (Public, NYSE:KSS) on break of trend line. My profit target was not hit as I trailed the trade with a very close stop. I missed out on a great trade as KSS continued lower. As the saying goes you can't go broke even with small profits. (I just made that up to make me feel better.)

Profitable trade.

Short trade open Wells Fargo & Company (Public, NYSE:WFC) as DOW was breaking a uptrend line on the 5 minute charts. The trade was closed on a hit of my stop that was placed at the prior low.
Profitable trade.

Starbucks Corporation Long Day trade

2011-10-17T21:16:00.001-05:00

This was a Long trade entry in Starbucks Corporation (Public, NASDAQ:SBUX). I was using the $.24 entry rule off the low of the first 15 minute candles. It took an hour and twenty minutes to hit my buy limit order. (Which was also the LOW of the day) Once in the trade I was shooting for just below the prior supply areas. My cover stop was hit on a slight pull back a few cents higher then my original target of $41.19.
Profitable trade.

KLA-Tencor Corporation Short Trades

2011-10-12T10:10:00.003-05:00

This mornings short trade in KLA-Tencor Corporation(Public, NASDAQ:KLAC). I was using .24 above the 50% line of the prior big green candle as an entry point. First trade was kicked out (with out losing any money) on a stop price as the market started back up. Second short trade was again taken at the +.24 above PBGC and target was set for prior demand level on 5 minute chart. I am using small share sizes and short target points until I am comfortable on the new rules.

Both trades were profitable.

Late trade in WFC. Profitable trade

Citigroup Inc. Short Trade

2011-10-11T12:33:00.000-05:00

Short trade open in Citigroup Inc. Public, NYSE:C.) I placed my limit sell order at $27.53 0.25 above the high of the day. trade was opened and profit target set for $27.09 just in front of prior demand zone.

This is another small trade as I test out my 0.25 rule.

UPDATE: Trade closed at profit target$27.09

Profitable trade

Starbucks Corporation

2011-10-11T09:45:00.001-05:00

Short trade open Starbucks Corporation(Public, NASDAQ:SBUX). Using my $.24 rule I placed my limit order in above yesterdays high (not the candle wick.) I was hit and shooting for a retrace back to $41.30

UPDATE: Profit target hit $41.30 trade closed.

Profitable trade

Starbucks Corporation and Wells Fargo

2011-10-10T15:55:00.000-05:00

Short trades opened in Wells Fargo & Company (Public, NYSE:WFC) and Starbucks Corporation (Public, NASDAQ:SBUX). These were two small trades, looking for small gains back into demand zone targets. Both trades closed at profit targets.

Profitable trades.

Guess?, Inc. Short trade: Closed Profitable

2011-09-06T10:12:00.000-05:00

This mornings short trade Guess?, Inc. (Public, NYSE:GES.) Trade was opened on the break of prior demand zone. Profit target $29.07.

UPDATE: Stop moved forward to keep trade profitable.

Stop hit trade closed for Profitable trade.

UPDATE 21:06 EST: There was a couple of things I did correct on this trade and one major thing I did wrong. I will only explain what went wrong. After making a good entry I followed the trade by moving my stop forward to keep the trade profitable. When I moved the stop forward I failed to check the order. I only placed half my shares at a stop. When it was hit I did not notice I was only half way out of the trade. I went and did some accounting and came back to see the trade still active. I was a little confussed as to why it was still open. In the time that it took to figure out my mistake GES was pulling back. I took a small loss on the second half of the shares, but the overall trade was profitable.

My other trade was a Short in AFLAC Incorporated. My stop was hit for a $30 loss. The stock continued higher and closed at $33.91 so I was happy with the small loss.

Krispy Kreme Doughnuts Short trade setup 8/29/2011

2011-08-28T14:04:00.007-05:00

Here is a setup for a short trade on Krispy Kreme Doughnuts(Public, NYSE:KKD) for Monday 8/29/2011. Short the trade at $8.86 with a close stop above. I am looking for a profit target on the day trade of $7.87. I will wait to see what the market does before the trade is open. If KKD does not go up to the supply zone to short. I will call the trade invalid and move on.

UPDATE 8/29 eod: I did not take the trade today as I got caught up with other stocks. I will keep the idea open and will trade in the morning if the market looks to pull back. I keep my numbers the same.

UPDATE 8/30: Stop hit above at $9.07 just above R2. Trade Loss

Even with a loss I call this a win since I set my stop and took the hit. In this case so far the stock has gone up higher. You win some you lose some, but as I've learned from past mistakes. You always lose when you move your stops to prove your right.
UPDATE 3/30 eod: Stock closed at $9.27 up $.20 from my stop. This is why getting hit is a winner. There is always the 50/50 chance that she falls back after your out, but that's the game. I know that there are many traders out there who move stops just before there hit. This should never be done. It is a hard thing to do to live and die by your stops, but it is the only way to trade. Till the morning stay well and hope everyone had a more profitable day then I.

Bank of America Corp (Public, NYSE:BAC) Profitable trade Long

2011-08-27T13:24:00.007-05:00

This was Wednesday/Thursday's trade in Bank of America Corp

(Public, NYSE:BAC).

Things done right.

Planned trade with stops for both profits and cover.
Only moved stops forward (Very Important) I almost went broke years ago pulling stops to fight the market.
Planned my cover stops on good numbers, stuck to them, and took a nice profitable trade.
I am not crying over profits that could have been, but am happy about running a solid trade.

Things I could have done better

I should have recognized what a winner the market was throwing my way with a pre-market jump of over $1.00 in share price on news.
With that being said I should have sold on the first red candle at the top.

I bought back long Bank of America on Friday at $7.55 which was the basing of the prior day. I will shoot for the high of Thursday big news as a profit target.

Profitable trade

CIGNA Corporation Short day trades Closed

2011-08-25T11:40:00.007-05:00

itable

This mornings day trades where short positions in CIGNA Corporation (Public, NYSE:CI).

Things did RIGHT

Waited for the first fifteen minutes of crazy trading to finish.
Use my position size calculator to plan trade size.
Used Pivots are targets.
Placed stops and only moved them forward.

Things did WRONG

Should have use a closer stop on last trade. (That is hind sight, and had I not used a stop it did run much higher)
Maybe should have stopped after two profitable trades.

Short trade opened again at $44.68 at upper daily supply zone. Profit target $44.36 just prior to S1 and $43.96 with last 1/3 of share block at yesterdays low.
Profit target hit with 2/3 block $44.36 Stop moved forward to keep last 1/3 profitable if touched.
Update A/H: Closed last 1/3 of share at market order to cover $44.24. Could not watch the trade and I'll take what the market gives. You can't go broke making a profit.
Trades 3 for 4 with all Trades closed for over all Profitable close.

Electronic Arts Inc. Short trade setup

2011-08-23T23:28:00.004-05:00

This is my trade plan for 8/24/2011 if the markets turn lower. Short trade in Electronic Arts Inc. Public, NASDAQ:ERTS). Wait till she breaks .14 and then short. Cover 1/2 trade size at S2 and then trail price down till hit.

WARNING

Once again as always this is not a recommendation to buy/sell stocks of any company. You can and most likely will lose some or all of your money following this blog. Trade ideas presented on this blog are for my use only and are only educational in purpose. Please consult a true professional on any trades or at least your wife. Happy trading.

UPDATE 8/24/2011

Short Trade Opened at $20.12.

1. I believe my numbers were right as shown by the fact I was stopped out at the high of the day on a stop loss limit order.

2. I entered the trade TO SOON. I did not wait for the first 15 of crazy trading to finish.

Trade Closed on stop $20.42 Loss

Update 12:oo: Short trade opened at $20.03 at half prior share size. Stop hit VERY small profit. Profitable trade

Update 13:34: Short trde open @20.13 Profit target $19.92 Trade closed for ELTRA small Profit Profitable trade

Micron Technology, Inc. Day trade closed: Profitable

2011-08-23T10:19:00.001-05:00

This mornings day trade long was in Micron Technology, Inc.(Public, NASDAQ:MU).

1. MU was sitting in my area of defined demand.
2. The market showed strength to the upside for a long entry trade.
3. Profit target was set at just below R2.
4. ATR was showing .31 so it had a good shot of getting there.

Trade opened at $5.35
Trade closed for small profit at $5.39

1. Time in trade 60 minutes
2. Q's started to paint red candles
3. The Dow was up over 140 and started back down.
4. Closed to keep day trade in the green and try again another time.
5. Rule 22a Once in the Green don't let it turn Red

Profitable trade

UPDATE at the close. Looks like the trade would have gone as planned, but there is never a guarantee if a trend will continue. My numbers where perfect for the trade. Once you close the trade it is irrelevant what the stock does. If your money is not on the table it means nothing what the dice rolls.

VeriFone Systems, Inc. Short trade closed Profitable trade

2011-08-22T13:59:00.001-05:00

This morning trade in VeriFone Systems, Inc.(Public, NYSE:PAY) was on a recommendation.
The trade ended with a profit, but more then that a valuable lesson that I know many a traders might be trying to learn too.
I followed the plan for entering the trade placing all stops and profit targets. Here is where things went a little off course. Once the trade was open I changed the plan and thought to take 1/2 off the table at S1 and keep the other half at the .37 profit target. What I did as the stock showed strong downside pressure was to start getting greedy and trying to rethink how I could get every penny out of this trade. I reset the profit targets as she flew down though .37 to .25. I moved my original stop forward to .54 to keep the trade profitable in case she turned around. I was taken out at .54 as PAY burst higher as stops where taken out.
What I should have done was moved my stop to the original profit target .37 when she was at .27. That way I would have made my goal and not given back lost cash.

Lesson: Have the whole trade mapped out and other then moving the cover protective stop forward, leave the trade alone and take what the market gives.
Profitable trade

Worst interviewer ever. She is falling asleep. Sam Seiden

2011-08-20T18:20:00.000-05:00

Corporate Profile interviews Sam Seiden, VP of Online Trading Academy.

Check this out. She is trying not to fall asleep and rolls her eye's. Half way though she is giving cocky remarks. He says " I think you get the point." She comes back with a classic "Yes I'm bored out of my mind and can't wait to take a crap" remark. I thought it was pretty funny.

Starbucks Corporation (Public, NASDAQ:SBUX) Short trade Open/Clsd Profitable trade

2011-08-19T15:48:00.001-05:00

Today's trade was a day trade short position in Starbucks Corporation (Public, NASDAQ:SBUX.) I based the trade off the 61.80% Fibonacci line on the daily chart. I entered the trade .01 lower at $36.08. My profit target was based on the low of two prior candles on the hourly chart. I placed my exit limit at .03 above the two lows. My trade on Thursday went wrong as I tried chasing a penny, and missed out on dollars. Trade closed while I was out running errands on target hit.

Profitable trade

PulteGroup, Inc. Short trade closed Profitable trade

2011-08-19T15:25:00.001-05:00

This trade was from yesterday 8/18/2011 in PulteGroup, Inc.(Public, NYSE:PHM) home builders. I just finished a chapter in a trading book that talked about how trying for the last penny will cost you more then you'll gain. My cover price was .16 , but I moved it down to catch the all time low of .13 and missed it by a Penny. PHM then started back up and hit my protective stop.

Profitable trade.

Super Trader by: Van K THARP for SALE

2011-08-16T17:14:00.008-05:00

SOLD

I am selling my hard cover Super Trader book. This book is in new non-smoking condition and is ready for a good home. I am also the cheapest listing on AMAZON. Please look for my sellers account by clicking on this link http://www.amazon.com/gp/offer-listing/007174908X or the picture above.

Happy Trading

Jay.

Patriot Coal Corporation Trade closed Profitable

2011-08-10T09:56:00.005-05:00

I closed out my Patriot Coal Corporation (Public, NYSE:PCX) long trade this morning after the market fell back again to -400. I was not going to let the trade turn into a loser. Just a small profit, but more then that I hit the trigger and took what the market let me.

Profitable trade