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.
New Buy Candidates: BEE
New Buys: BEE (in at 2.53)
Added To: ACLS (in at 1.43...original position at 1.28)
*Note: Those following my twitter at http://twitter.com/stockraider will recall that I had already played BEE as a short term position while it was still under 2.
posted by Nick M. @ 2:26 PM
Hello and welcome to my blog. My name is Nick and I am a recent graduate of a top research university. I currently hold a BA degree in Psychology. My main interests are industrial/organizational psychology, HR management and of course, securities and the financial markets. I became interested in trading and investing in stocks a few years ago by pure chance and curiosity. After learning some of the basics in 2003, I began to trade in full force in 2004. Although I've been trading for only a few years, I have learned much about stocks, and analyzing charts in this relatively short time span. My experience and chart reading skills are my edge in successfully navigating the stock market. My strategy and discipline is a blend of trader and stock picker. My style of trading has helped me find some of the current markets top winners in their infancy. In addition to my own personal trading and investing, I also manage assets and portfolios for close friends and family. My goals are to continue to improve and refine my trading/investing strategies in order to further enhance my performance in the market. Eventually, I would like to establish my own investment/asset management firm.
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12 Comments:
AXTI, BWS, CBI, CVM, DSW, ENTR, FTWR, GTN, HEAT, MANH, MPG, NEP, OPTT, PXLW, ROIAK, SRZ, TA, VISN, WX
A lot of different stocks in a variety of sectors are breaking out today. This is very bullish action and shows that the rally still has legs. The market has even absorbed most of today's dip and the is attempting to close in the green...
Today's dip, not a surprise. I just thought that it would come later in the day, after the markets had a chance to extend yesterdays recovery. Now, we have a chance for the market to actually digest the sell off and show us if it still has strength. So far, we are off the opening lows.
I wrote a song this morning called, "Should have taken profits; now I'm kickin' myself in the ass." It's a blues song... ;)
PMI is crashing through support.
Better make the song a duet because I also regret not selling. Get rid of PMI of you have it.
Just hold onto positions that are showing support. Stocks like PMI should be sold. FOr instance, HPJ and XRTX are showing support. These stocks have a higher likelihood of bouncing up when the market turns. In addition, keep an eye on where the market closes today. I am watching to see if the dip gets bought.
The strongest stocks are still showing support. I'm selling laggards and holding onto the high quality set ups. Even with the dip, there actually some nice setups to buy today.
Keep an eye on: AIS, GSX, JOEZ, LTON, MPET, OPTT and USEG
I didn't have PMI, just making note. I've been running through charts all day. Lots are actually holding up, albeit some on weak volume: QTM, DAN, OPLK, OPXT, ZHNE...
I'm curious about the close also; didn't want to take any positions on Friday, but I'll see if I can drop a laggard.
Looks like the selling will be on at least average to above average vol on the DJIA. The NASDAQ might take this dip as a low volume dip (indicating more strength and resilience). Again, it would be extremely bullish for the indexes if they close well off the days lows.
The closes weren't horrible today. Bullish enough for me on the so-so volume. ...lots of homework for me this weekend though!
True. What kind of irked me was that the market had the ability to absorb most of the losses and close near the top of yesterdays range (it was actually in the green for a brief period), but at the end it got hit with a final wave of selling. Still it is positive that it closed above the open. I expect the market to retest the 9,800 level next week. It should bounce from that level before heading higher. Overall, not too shabby. Most of my positions fared well. We'll see what happens next week. Enjoy your weekend, Chad.
You too, Nick. Take care!
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