Stalking NGA Day Three

Day three of the NGA pullback. Price move closer to the breakout point made last April 24. The ideal situation would be to see the NGA print a hammer candle or a narrow bar on low volume. I will continue to monitor and see how it goes. Below is today's chart.

Sold LVS

As widely expected the market opens in the positive territory giving me the opportunity to close my swing trade on LVS. I've sold 300 shares at $8.37 for a net gain of $355.00

LVS and YZC Trade Updates

Still holding my swing position on these two stocks. I'm about break even on YZC and has paper gains on LVS. Planning to exit them as soon as I spot a good selling opportunity.

Today's overall market action is leaning towards a higher opening tomorrow unless there is a major bad news.

Stalking NGA Day Two

Day two of NGA pullback if this action continues tomorrow which is very likely price will be testing the support around the 4.25-4.50 area. I'd like to see the stock to bounce from that area thereby respecting support. Let's see what Thursday brings.

Change, Hope, Believe...

Cheers to President Obama's, 100th Day in Office

We'd like to share a short video showcasing the skill and talent of my artist/sculptor friend Bhuds Floriano. My wife Eve shot the video using Nokia N73 then used Photodex Producer to build and finalize the movie. Enjoy.

NGA Due for Pullback

One stock from the LP Momo watchlist, NGA has been a day traders stock from a low of $4.80 towards $5.77 in quite a short time of course no need to grab the entire day's range just a portion of it would be good enough.

I was watching it early morning trying to enter but can't seem to find my spot. Well, the good thing is I learn a lot just by watching it. The stock ends in positive territory but the bulls are bit tired. Entering here would be highly risky, see A and B these indicators are way overbought. I'm waiting for the price to test support around the $4.50 area.

LP Momo: Watchlist of the Week

These are high octane stocks and might be due for a pullback. I'm waiting for pullback.

Swing Trading LVS

I'm staying home today ;-0 and have been reviewing my watchlist from last night. One stock has caught my attention, the Las Vegas Sands Corp. (LVS). This stock have been showing accumulation since early this month. Interesting to note that LVS have more than doubled in price from a mere $3.00 late March.

Yesterday the stock broke out above $6.00 on volume of more than 89 million shares. I'm not sure what's going on internally, just looking at price and volume action as usual. Purely technical analysis in nature. Tho, I'm concerned about the RSI (shown in the chart) but nonetheless price action is king and position management is second.

I've entered at $7.14 and bought 300 shares and paid $7.00 for commission. My target is around the $8.00 area. Below is the LVS chart.

Swing Trading YZC

Bought 300 shares of YZC at $9.50 stop sell is pegged at $9.15 with a profit target at $10.10 and paid $7.00 for commission. Please see chart below for more details.

LP Momo Play: A Trading Blog for High Momentum Stocks

Yep, I hear yeah :-), blah-blah-blah... one more addition to the thousands of existing and ever growing trading blogs out there. I can't help it... I really feel I need to have an online journal. Something where I can jot down things related to my trading styles, trade plans, money management, and other matters in between.

I believe this personal blog will help me become successful in this tough Wall Street business. The LP Momo Play will focus and trade stocks that are exhibiting the following:

1. Strong Relative Strength
2. High Earnings Rating
3. Price and Volume Action
4. Compelling Chart Pattern

Although, the second is not a strict requirement in LP Momo method it helps in the final decision making. In this blog I will be sharing stocks I'm presently watching and will detail my entries and exits this is the best way to effectively track my progress.

As a disclaimer please be informed that I am not a licensed stock broker nor a certified financial professional, I am just a regular Joe trading and managing my hard earned capital. Therefore, any stocks mentioned in this blog should not be construed as a recommendation to buy or sell. Trading is not easy do your personal research or consult your financial planner before risking real money.

As always trade carefully and control your greed.