The Ambitious Trader: Stocks, Trading, Investing..My Ambitions as a Trader and Investor

This is a one way ticket that takes you on a wonderful journey into the vast world that is the stock market through my eyes, my point of view.

Tuesday, July 29, 2008

Stock Picks and Trade Ideas for Wednesday

New Buy Candidates: DTLK, EURX, MITI (on the dip)


New Short Sale Candidates:


Add To: ALTH, OPTV, SCL (on a dip), VISN



Note: I will post the new buy ideas later on or tomorrow morning.

The Waiting Game

After watching the market action over the past several days, I have come to the conclusion that patience is arguably one of the most important tools that a seasoned trader must utilize. It doesn't matter how many monitors you have hooked up to your PC. It doesn't matter how complex or fast your software is at spitting out stock ideas. And it doesn't matter how many years of trading experience you have. If you are missing one key ingredient (patience), then the rest doesn't matter. Patience is what keeps you in the game during the boom times and patience is what keeps you out on the sidelines during the market meltdowns as well. As traders, we all have this inherent itch to constantly trade. It's as if it were an addiction. But this little itch is what gets us into trouble and helps us lose our profits. In order to be successful, one has to control this itch and substitute it with patience. Only then can one really master the markets and become consistently profitable.

Friday, July 25, 2008

Not Missing Out On Much

I know I haven't posted in a few days, but in truth, you aren't missing out on much. The market has been quite worthless as of late. Trade setups have become fickle and too far in between. Even the good setups are starting to lose steam and fail. Sure, there are a few good ones here and there, but I have enough open positions to keep an eye on.

Some notable stocks: ARST (own), CPWR, ICXT, MITI, NPSP (own), PCTI (own), PEGA (own), PNSN, THMD, VISN (own) and a handful of others.

Monday, July 21, 2008

Stock Picks and Trade Ideas for Tuesday

New Buy Candidates: AGX (on a dip), AMN, ASGR, AZC, BSDM, CRD.A, CRD.B, CYBX, EZCH, IPCM, NSYS (on a dip), TITN (rebuy), VICL (maybe), XTLB (rebuy)


New Short Sale Candidates:


Add To: ALTH, AVAN, CRMT, FINL, IDIX (finally starting to move), LDL, NNBR, OFI, PARL, TMR


Note: I will post tomorrows picks later on (before the Tuesday market open).

Note: I will not be buying all of the above mentioned buy candidates.

Thursday, July 17, 2008

Stock Picks and Trade Ideas for Thursday

New Buy Candidates: OPTV, SCL (rebuy)


New Short Sale Candidates: None


Add To: AVAV, MNTA, NNBR, PARL, VRUS, XSI




Note: Check back during the market open for new buy candidates and stocks that I am adding more of.

Tuesday, July 15, 2008

Here We Go Again...

The DJIA and the rest of indices plunge once again. So what else is new? They say that the trend is your friend and that you must follow it. Looking at the current market trend, we should all be cautious and perhaps, stand on the sidelines. Many were calling bottoms and oversold conditions but one must remember that the market moves in its own rhythm and speed. Look at PDO for instance. How many times were people calling tops on PDO as it pushed itself higher and higher. It was moving in its own rhythm and speed, which at the time, was unlike any other stock and index (besides MXC). So maybe the indices are facing higher downside pressure than before. Perhaps it will take a bit more of a drop to place an oversold condition. We maybe getting close. Fear is starting to rise and spread all over Wall Street. Just look at the VIX. The VIX just touched over 30 today. It took another 200+ point drop to get here. If we see a clear reversal of this down move, then we may be ripe for an oversold bounce. If the VIX stays near its high and the indices stay at their lows by the end of the day, then watch out tomorrow and perhaps the rest of the week.

Stock Picks and Trade Ideas for Tuesday

New Buy Candidates: EXAC, IXYS (2nd attempt), VLNC (rebuy?)


New Short Sale Candidates:


Add To: ALTH, ARST, NPSP, TMR

Sunday, July 13, 2008

Stock Picks and Trade Ideas for Monday

New Buy Candidates:



New Short Sale Candidates:



Add To: APWR, CHP, EBS, ENG, ENZ, HALO, HYGS, LDL, NPSP, VNUS

Update: No new Buy Candidates for today. If I happen to find one worthwhile intraday I'll post it.

Note: The stocks that I am adding to are all the new buy candidates that I bought on Friday(with the exception of HYGS). These were some of the top performing stocks on my list so I bought them without hesitation. I am keeping a strict stop-loss on all of them. I am usually quite lax on the stops but the current market environment is quite treacherous and unforgiving. This is not the time to get lazy and give back all of my gains.

Thursday, July 10, 2008

Stock Picks and Trade Ideas for Friday

New Buy Candidates: AMED, APWR (rebuy), CHP, DMLP (rebuy), EBS, ELN, ENG, ENZ, EXK, FNDT, HALO, KNSY, LDL, MASI (rebuy), MEND, MYGN, NPSP, PARL, PMFG, RSOL, SMTS, SYNO, VNUS (rebuy), VRUS (rebuy)


New Short Sale Candidates:


Add To: ARST, AVAV, EMIS, ENT, GHM, HCKT, HGR, OFI, PCTI, SQNM, TGC, TMR, VVUS, XSI

Sold for Loss: TXCC (-13%)


Note: Interestingly enough, there are a handful of new stocks that have popped up on my radar screen. For now they look like great buys. But, this of course depends on how the market behaves in the near term future. Still, there are a lot of technical signals that are pointing to a short term bounce. Any strength in the market can lead to decent gains if the right stocks are picked. I will try and post some stocks later on tonight. If I don't get to it, you can be sure that they will be posted by tomorrow morning.

Update: Just for the record, I am not going to buy all of the new buy candidates. I will let you know which ones made the cut and which ones should be disregarded.

Tuesday, July 08, 2008

Stock Picks and Trade Ideas for Wednesday

New Buy Candidates: ALTH, ARST, AVAV, HGR, NYNY, VVUS



New Short Sale Candidates:



Add To: FINL, NNBR, NYNY, PEGA



Note: I will post the new picks tomorrow morning. Due to today's positive action, there are quite a few new buy candidates. Most of these potential longs are comprised of stocks belonging to various technology sectors/industries as well as bio-pharma/technology industry groups.

Note: NYNY is an add, but it is at a good initial buy point as well.

Monday, July 07, 2008

Stock Picks and Trade Ideas for Monday

New Buy Candidates: TXCC


New Short Sale Candidates:


Add To:

Thursday, July 03, 2008

Stock Picks and Trade Ideas for Thursday

New Buy Candidates:


New Short Sale Candidates:


Add To: HYGS

Wednesday, July 02, 2008

Stock Picks and Trade Ideas for Wednesday

New Buy Candidates: EMIS, TMR



New Short Sale Candidates:



Add To:

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