Thoughts....
The Index Watch, Weekend Review and the Trading Spreadsheet are complete. Many of the setups I post have several entry points so don't focus entirely what I list on the spreadsheet. In other words, look at the chart and you may find more than one potential trade.
I opened a separate account at Ameritrade a couple of weeks ago so I could try my hand at building an account from a modest starting balance ($10,000). Since most of the correspondence I receive seems to be from the more inexperienced trader, I thought this would be the best way to go (public humiliation). I'm only going to take trades (or the ones I'll tell you about) I post at the website beforehand. At the end of the day, it won't be necessary to admit success or failure because the results will be listed and audited by Covestor. If I enjoy it and someone requests me to, I'll open and link a larger account. Between work, trading, and court system imposed community service, I hope this will benefit at least one lost soul. Feel free to comment, mock, or stand in awe. I'll have my Covestor link up on the main page tomorrow.
I went over a few scans today and found a few other short setups.
INT World Fuel Services
VPRT VistaPrint
CFL Brink's Home Security
CTV Commscope
ECLP Eclipsys
VRTX Vertex Pharma
TRLG True Religion
EL Estee Lauder
HGG HHGREGG Inc
IRM Iron Moutain
MFC Manulife Financial
RBA Ritchie Bros Auctioneers
CHD Church & Dwight
ETP Energy Transfer Partners
CLX Clorox
CMCO Columbus McKinnon
The trend is still up so the easier trades will continue to be the high volume breakouts and the long setups on pullbacks to support. Unless you're aggressive and disciplined, it would be a good decision to stay away from the shorts. If you aren't stopped out almost immediately, they've been good for nothing more than short term scalps.
I opened a separate account at Ameritrade a couple of weeks ago so I could try my hand at building an account from a modest starting balance ($10,000). Since most of the correspondence I receive seems to be from the more inexperienced trader, I thought this would be the best way to go (public humiliation). I'm only going to take trades (or the ones I'll tell you about) I post at the website beforehand. At the end of the day, it won't be necessary to admit success or failure because the results will be listed and audited by Covestor. If I enjoy it and someone requests me to, I'll open and link a larger account. Between work, trading, and court system imposed community service, I hope this will benefit at least one lost soul. Feel free to comment, mock, or stand in awe. I'll have my Covestor link up on the main page tomorrow.
I went over a few scans today and found a few other short setups.
INT World Fuel Services
VPRT VistaPrint
CFL Brink's Home Security
CTV Commscope
ECLP Eclipsys
VRTX Vertex Pharma
TRLG True Religion
EL Estee Lauder
HGG HHGREGG Inc
IRM Iron Moutain
MFC Manulife Financial
RBA Ritchie Bros Auctioneers
CHD Church & Dwight
ETP Energy Transfer Partners
CLX Clorox
CMCO Columbus McKinnon
The trend is still up so the easier trades will continue to be the high volume breakouts and the long setups on pullbacks to support. Unless you're aggressive and disciplined, it would be a good decision to stay away from the shorts. If you aren't stopped out almost immediately, they've been good for nothing more than short term scalps.