Day Trading

Today I tried my hand day trading Biocryst Pharmaceuticals (BCRX). Entered on 11:20AM ET trend line break of the 10 minute chart at 9.27 the next candle failed to make above this price break. Since then the price move downward I've have enough so I've exited after two hours at 9.10 a total loss of -$82.00 including trade fees.

This month is a clear red ink as I've made poor picks, no concrete discipline, and weak trading management. Add to this my adventure to the option market have drown me more. I'm still holding my position on SDS this might be another big mistake in the making. Oh well...

Sold AAPL, 155AUG Put

This is a good example of a trader (me) who have forgotten his discipline and have been too stubborn to admit his mistakes. I opened a Put position in AAPL without researching/reading the latest news that Apple was about to report its earnings. The morning of the announcement the stock showed some weakness and I thought the trade would work in my favor. It was if I did get out that day. But I was so confident and did not even bother to research. After market Apple reported a 15% increased in profits and the stock shoot up rapidly.

I was caught and was frozen the following day. I'd like to sell its the right thing to do but my ego is telling me to brave it out. So, I did for four consecutive days I've been watching AAPL moving up in price despite of being too overbought.

Last Friday I can't take it anymore, I have to stop the bleeding and protect my capital. I sold my one Aug155 Put position in AAPL for $3.15 for a loss of -$565.50 including trade fees.

Apple Quick Updates

Just read the earnings announcement from Apple. The company's profit is up 15% and Steve Jobs is back all these are good news. Stock is up big in extended trading really bad to my put options. Next time, I'll make sure to check the earnings date its a big mistake to take position before the announcement.

SPY Softening

The SPY is hitting supply at around the 96 area note also that the price actions are in the lower range of the bar. Trading volume is not there yet but may accumulate in the days ahead. We may see further weakening in the SPY as major averages are very overbought.

The above condition present an opportunity to trade SPY using the Ultra Short SDS. I bought 100 shares at a cost basis of $51.55 including commission.

A blog for Persy

My wife, Evelyn and Ate Nori created a blog for Ate Persy. In here we are inviting our friends and colleagues to read, send messages, or just be with us as we remembers the good life and our many memoirs with our dear Persy.

Please click this link "in memory of Persy So"

Shorting AAPL via Aug155 Put

Well here's a chart of AAPL. Its exhibiting a very overbought condition, I'm taking an early shot here by opening a put options. Bought, one contract AAPL, Aug155 Put @ $8.55 plus $10.75 commission. I consider this probing- 1 contract will not hurt if the stock continue to move up.

Watching the Proxies

I'm in the sidelines for now watching the major indices through its proxies. Prices are very close to the nearby resistance and I'd like to see how price will behave near or within their supply levels. Note that DIA, SPY and QQQQ are all above their 200MA and also above their 20 and 34 EMA.

Among the three proxies the QQQQ is the strongest but all three are exhibiting overbought conditions. I have a watch list of stocks both long and short, just waiting to strike when high probability situation arises.

Let's make this a profitable week.

ARUN Trade Sold

Profit target was hit for ARUN today. Sold my 300 shares at $8.52 for a gain of +$181.00 less broker's commission.

Major indices are very near their respective resistance levels and price actions are flashing near term over bought condition. These are quite "textbook obvious" but be warned that it will not necessarily happen as you might expect. Give it time, observe how the market will play out next week. The thing to remember is that we, as a market player should be quick to adapt for any market changes and be able to adjust our game plan accordingly.

Enjoy your weekend!

CAR Sold

Just a quick update my automatic stop to sell 300 shares of CAR was triggered at $6.23 for a loss of -$59.00 including commission.

I'm holding ARUN for now. Have a nice day folks!

CAR, Intraday to Swing Trade

This trade was intended to be an intraday only (using 10Min chart) but for some reason I'm not really sure... I've decided to hold my position. Because I strayed away from my initial plan, I'm now at the mercy of the overall market. The trade becomes high risk. Duh!

Based on the daily chart CAR is within the over bought area. A pullback might be in the offing making position management quite difficult. Here are my options for tomorrow sell on the first sign of strength or be ready to accept some form of losses.

Bought 300 shares with a cost basis of $6.40 including broker's commission. Still holding ARUN.

Long ARUN

This is my first July swing trade, bought 300 shares of ARUN for $7.89 including broker's commission. Profit target is around $8.50-8.75 level.

Head and Shoulder on Major Markets

Here are the charts of the major market proxies, namely DIA, SPY and QQQQ notice the head and shoulder formation on their respective chart? This pattern usually indicates a near term top. We do not know yet if this topping formation will materialize we are waiting for further confirmation from this week's price actions. At this moment the proxies are quite oversold and a bounce are very possible.

One thing though, the present situation requires adjustment on my trading plan. I can choose to play/buy the bounce (snapback) from here but I'll be lowering my usual number of shares and will aim for a lesser profit. Or, I could stay in the sidelines and wait for a clear trend since the action from here on might be a bit volatile. I'll be really picky in case I buy on this dip.

A brief notes are included below as my overall reminder for this week.

The QQQQ is now below the 50MA and the H&S neckline have been broken. The RSI, Stoch, and MACD are all pointing down. The slope of the 20MA is down.

The price on SPY is below the 50MA. The shorterm 20MA, blue line have crossed over to the 50MA and the H&S neckline have been broken. Trendlines on Stoch, and MACD are all pointing down.

The 20MA, blue line on DIA have crossed over to the 50MA and the H&S neckline have been broken. Price is trading below the 50MA. Blue trendlines on Stoch, and MACD are all pointing down. However, the stochastic indicator on each of these ETFs are in the oversold level. Be extra careful tho the overall state of the market is weakening.

Performance: Month of June

Trading Summary for the Month of June

Total Number of Trades: 4

Number of Long Trades: 2

Number of Short Trades: 2

Total Number of Winning Trades: 2

Total Number of Losing Trades: 2

Total Net Gain after commission: +$212.00

Total Net Loss after commission: -$118.40

We're Back...

We have arrived last Wednesday, July 8 at around 8:00 pm, yeah, still in low batt mode and adjusting with our sleep. Lots of little chores here and there are needed to be done before going back to work this Monday. We are feeling quite exhausted with sudden burst of loneliness, I know one day at a time things will get better soon.

To all our relatives, family friends, Ate Persy's classmates, and UN colleagues, we thank you for your symphaties and prayers. Your loving care have strengthen our family and with God's blessing everything we will be fine.