Watchlist for Monday

These are the three stocks, I'll be stalking tomorrow. I've already placed an automatic buy order that will execute if my conditions are met.

THC - Buying on pullback at $3.45
FITB - Forming a bull flag, entry point is just above Friday's high at $7.00
FAX - Latest volume was good. I'll be buying long above Friday's high at $5.60

I don't have time to attach charts its already late, need to go to sleep. Good luck!

Performance: Month of May

Trading Summary for the Month of May

Total Number of Trades: 8

Number of Long Trades: 7

Number of Short Trades: 1

Total Number of Winning Trades: 7

Total Number of Losing Trades: 1

Total Net Gain after commission: +$786.00

Total Net Loss after commission: -$18.00

In the Sidelines

Early this week we encountered a major issue with one of our clients in New York. This is one of our high end client and my team have been assigned to prioritize their project. It has been really hectic for several days, spending long hours of work just to be rejected and back to start again. We are now asking assistance from our outside partners hope this thing will be over soon. Its quite so hard to please a client sometimes. When things like this happen I usually don't trade because if I do I usually end up losing money.

I'm in the process of tallying my trades for the month of May. I'll post it later on. Enjoy your weekend!

Buy to Cover APOL

Buy to cover order was triggered this morning as the market lifts up APOL from Friday's lower closing price. I'm out at $62.05 and have managed to eke out a net gain of +$1.00 after commission. I'm happy, I was able to squeeze a small drop it does help the bottom line lol!

LP Momo: Watchlist Week of May 26-29

The LP Momo Watchlist for the week. Mostly volatile and good for short term trading only. Do not chase these stocks wait for better entries, exercise caution, and lots of patience. Always use protective stop.

APOL Short Update

I'm still holding my short position in APOL (Apollo Group, Inc.) I like the price action in the past several days its showing lower lows indicating weakness. If this stock violate the lows of today (Friday) registered at $60.80 we may see APOL to further decline near the $58-59 area that would be my ideal place to take profit. FYI...my BDX sell short order did not trigger.

HAPPY MEMORIAL DAY WEEKEND!!!

Sold LNET

The major averages are not in a good mood its time to stay in the sidelines for the time being or go shorts. Its also prudent to grab your gains before the market take it back. I've sold 300 shares of LNET at $5.44 for a net gain of +$220.00 after commission.

Watching BDX for Short Ops

Here is the chart of BDX (Becton Dickinson and Co.), the stock has failed to overcome supply (resistance). The price action is demonstrating a series of lower highs in other words a downtrend. Heavy volume on distribution days and light on buy days all these are pointing to a high probability much lower prices ahead. My game plan is to enter short at the break of yesterday's closing price which is around the $64.50 level.

Existing Swing Trades LNET and APOL

I’m still holding these two positions, one long and one short my game plan is to trail them and let the market take me out hopefully with nice gains. Here are the charts of LNET and APOL.

Sold ADCT

Sold 300 shares of ADCT at $7.00 for a net gain of +$76.00 after commission. I decided to exit now due to the fact that this stock is a bit slow it was down for several days which made it oversold and then bounces another good move but there is no strong follow through. The stock will push higher only to give it back the next day. A good example was yesterday, Tuesday when ADCT almost gave back all of Monday's gain. I also don't trust that wide red candle and the moving average (blue line) hugging the price in a downward sloping action. The best move is to get out asap!

Sold ODP

Sold 500 shares of Office Depot, Inc. (ODP) at $3.54 for a net gain of +$161.00 after broker's commission. Today was a good day overall :-)

Shorted APOL

My sell short order for 20 shares of APOL was triggered at $63.10 target is around the $61.50 to $60.50 area.

Buy to Cover ABT

Bought back 60 shares of ABT at $43.10 including broker's commission the this trade has a net gain of +$88.00

LP Momo: Short List for the Week of May 18 to 22

I'll be watching these two stocks APOL and BDX for a short trading opportunity. They look ready to roll over specially if the market fails to resume its upleg. Let the stock move past the lows of Friday before considering to enter and set your stop accordingly. 

The Illustrated Story of the Credit Crisis

This beautiful animation was created by Jonathan Jarvis as part of his thesis for his Media Design Program at the Art Center College of Design in Pasadena, California. Jonathan's artwork have achieved to simplify the complex story of the Credit Crisis in such a creative way that is clear and easy to understand. He was able to free those people like me who hates reading thick and boring financial books.

I encourage you to visit his website at jonathanjarvis.com to further explore more of his creative works and his effective use of new media to express, understand, and submerge with our complex world.

Changing of the Guard (COG)

Three days of pullback and today the major indexes DJ-30, SP-500, and Nasdaq Composite has closed in positive territory producing a "narrow bar' within the support level (demand). This is a good sign for a possible leg up.

Shorted ABT

Abbott Laboratories (ABT) was from last night's short list, my order to sell short 60 shares was triggered at $44.90 target is around 43.50 area.

Swing Trading ODP and ADCT

I have two buy stop orders, ODP and ADCT they were triggered after these stocks moved past above yesterday's high. Here are the trade details 500 shares of ODP at $3.19 and 300 shares of ADCT at $6.70

LP Momo Short List

The following stocks are possible short trading opportunities. Trade well and honor your protective stop. 

Resistance Area

Its happening the overall market is pulling back from weeks of up trending move. I have been anticipating this to happen but also cognizant that the market can continue to be overbought much longer if it wants to. No human being one can control that.

We are not sure how long this pullback will last so be careful let the market show its hands. The major indexes DJIA and SP-500 are below the 200 day moving average. The Nasdaq Composite has tried but failed to overcome that average. If the market can able to resume its up trend there will be a lot of set-up for low risk long trades.

For the now exercise patience and remember the big picture remains the same the overall market is still under a longer term down trend. 

Buy to Cover ACN

Covered my ACN short, the stock is showing strength. I'm not feeling good about that wide candle from yesterday and the doji type candle today. I don't know so I've bought back 50 shares at $29.35 minus $10.00 commission for a net gain of +$8.00

Sold NGA

NGA gapped up and have been showing strength in the direction of its uptrend. I was having a second thought greed is taking over I must say, so I've sold immediately before greed get a hold of me :-)

No sweat even if the stock move more than my sell point. I'm glad selling and booking profits on an early Monday. A very nice day to start the week. I've sold 300 shares of NGA at $6.50 minus the 7.00 commission for a net gain of +$232.00

Look out for Major Resistance

The game plan tomorrow is to manage my three existing positions namely NGA, LNET, and ACN. My action will highly depend on how the market will unfold in the next few days. I urge you look at the charts of the major market proxies DIA, SPY, and QQQQ you will see that except for the QQQQ the other two are still below their 200MAs and if you look at the left side there are walls of price congestions (supply) that were formed last November, December, and January 2009. These supply areas are not to be under estimated.

If the overall market can still push higher which is very possible then we are also getting closer to a short term correction. It may take days or weeks but there will be a pullback for sure. All this is part of a healthy stock market. The key is the ability to recognize when one is coming and be prepared to adjust your trade plan.

Let us take it day by day but keep in mind those supply levels (see notes on charts below). I'm ready to take any profit or tighten my stops to protect gains.

LP Momo: Watchlist Week of May 11 to 15

Below is the LP Momo Watchlist for the week. Do not chase them wait for better entries. Exercise caution and patience.


I'm interested on ADCT, the stock have pulled back at the 10MA. I will likely enter a long position just above the highs of Friday with stop sell just below $7.00 for further technical study see chart below.

Note:
I'm also keeping an eye on other stocks not included in this watchlist that can come up and might offer a good trading opportunity.

Better Than Expected

The government Employment Report came out better than expected, employers cut 539,000 jobs last April. The lowest in six months. Wall Street viewed the report as very encouraging and pushed the US stocks to end higher. This positive scenario have also helped my swing positions on LNET, NGA, and ACN all three are within my entry points. 

I'd like to show you the chart of ACN this stock is breaking down. If the selling continues volume may also accelerates and test the $29.00 level the area near 21 EMAs.

Swing Trading Positions

O’ oh… Market is hitting a wall of resistance. The pullback might have begun, see the SPY chart.

The present market situation made my long positions on NGA and LNET into a high risk swing trades. Their breakout potential have been diminished. Ill be ready to pull the plug if things get ugly. Here's my trade details:

Bought, 300 shares of LNET at $4.66

Bought, 300 shares of NGA at $5.68

Sell short 50 shares of ACN at $29.91

Thursday Trading Ops

The official announcement of the government's 19 banks 'stress tests' will be out tomorrow, tho there were already leaked reports that somehow cheered Wall Street. It may have contributed to today's positive closing but then again you'll never know for sure. I'll be watching the market's reaction and manage positions accordingly.

These three stocks from LP Momo watchlist are showing high probability trading opportunities. I'll enter my buy order in advance. Pin pointing target point is quite tough tho. I'll trail my stop or take my profit if the market gives me a nice chunk.

LNET - Possible breakout from a minor base.
Buy point $4.63 ; Stop at $3.88

ARP - Pullback formation.
Buy point at $6.15 ; Stop at $5.69

NGA -Possible breakout from a minor resistance.
Buy point at $5.67 ; Stop $5.15

Watching ACN for a Short Trade

Here is the chart of ACN, one of the stock on my short list, I'm watching it for a possible short trade that could happen today or tomorrow. My plan of entry would be to sell short at $30.05 just a little below yesterday's low. Its nice to note that the down pointing trend line have served as a strong resistance see February and March trading action. The trend line have rejected the price advance twice. It is also a good area to place a buy to cover order somewhere just above around the $31 level. Both the RSI and Stoch looks like they're getting ready to slide down. If all what I'm seeing unfold then that would be a text book short scenario. I'll keep you posted as usual.

ADM Short Covered

ADM printed its low today at $23.50 then reversed mid day to form a hammer candle. The stock may have put a temporary bottom. There are bids. I'm out covered my 30 shares at $24.01 plus the $7 commission for net loss of -$18.00

Sell Short ADM

I have been quite busy at work this morning and forgot to watch ADM. By the time I remember the stock its already down big. I was about to just let it go but I can't ignore the heavy volume so I decided to sell short 50 shares half of my intended size at $23.93. There is a big possibility of a continued slide tomorrow given the present price action. Looking at the ADM chart if the price goes $25.03 I'm out.

Performance: Month of April

Trading Summary for the Month of April

Total Number of Trades: 2

Number of Long Trades: 2

Number of Short Trades: 0

Total Number of Winning Trades: 2

Total Number of Losing Trades: 0

Total Net Gain after commission: +$449.00

HAE Failed at Resistance

I've placed my advance short order last night but Scottrade rejected it saying the HAE has only 19 shares available. I don't understand this. Is it not possible to have Scottrade accept the short order and then see how things go in the morning? Because of this I missed the big downward move. Oh, well there would be another day.

NGA Day Five

Well, I was hoping to be able to get in at $4.83 but no luck today. NGA opened above last Friday's closed. That's it for now. I'll let this stock do its thing but I'll be watching and will look to enter at a low risk point when the opportunity present itself.

Looking at the chart its obvious that Friday was the perfect day to get in. No sweat, there will be another train coming soon.

LP Momo: Short List Week of May 04 to 08

These stocks are my short candidates for this week. Always exercise caution and let the price action guides you.


Note:
I'm also watching for other stock not included in this watchlist that can come up and might offer a good trading opportunity.

LP Momo: Watchlist Week of May 04 to 08

These are the stocks I'm watching for this week. Each are exhibiting strong momentum but highly volatile and quite overbought. I will not chase them and will wait for better entries on pullback.

Note:
I'm also watching for other stock not included in this watchlist that can come up and might offer a good trading opportunity.

Manny Pacquiao, the Pound-for-Pound King!

Kababayan Manny "Pacman" Pacquiao knocks out Ricky "Hitman" Hatton of Great Britain in second round of their fight at MGM Las Vegas.

Below is a round by round description of Kevin Iole, of Yahoo Sports.

Round 1: Pacquiao hugs trainer Freddie Roach just before the bell sounds to start the fight. Crowd is cheering and singing. Hatton goes hard to body and referee Kenny Bayless warns him to keep them up. They’re clinching a lot. Hard right hook by Manny. Jab and a hook to the body by Ricky. Hard straight left by Pacquiao. One-two from Pacquiao and they clinch. Combination from Pacquiao on the ropes stuns Hatton. Four-punch combination by Pacquiao. Hatton is is down from a right. About 45 seconds left. Huge combination by Pacquiao. Hatton is getting drilled. This may be it. Hatton down again.

Pacquiao wins round, 10-7

Round 2: Right by Hatton early. Good combination by Pacquiao. He’s hurting Hatton with those shots. Right hook lands by Pacquiao. Three-punch combination by Pacquiao and Hatton wobbles. The speed is way too much for Hatton at this stage. Right hook again by Pacquiao. Hatton goes to body and is warned for holding and hitting. Straight left by Pacquiao and theny bang heads. Right by Hatton lands flush, Pacquiaotakes it well. Combination from Pacquiao backs Hatton to corner. Right hook to body by Pacquiao. Left hand by Pacquiao knocks out Hatton. The fight is stopped at 2:59.

Pacquiao wins by knockout

Stalking NGA Day Four

Wow! I'm expecting one more day of a shallow pullback, a hammer, or a narrow candle bar formation but what the heck ;-) I'm just a dot compared to the market. My opinions about NGA or the general market is just that an opinion. Focus on price action its always right. I mean be flexible and do not marry ones opinion!

NGA propelled upward with volume support. This is a positive sign of a high probability continuation move on Monday. If you've managed to enter today much better. I'll be entering my limit buy and stop order on Sunday. Have a nice weekend!

Sold YZC

I'm out on my position in YZC. The price action is within a minor resistance near the $10 area where the stock has previously broken down. I still view this as a tough resistance and may attract more selling from other traders who wants to get out breakeven.

Sold 300 shares at $9.86 minus the $7 commission equals a net gain of $94.00