Monday, March 26, 2007

Trade Review: OPEN POSITIONS

From my original entry at around $93, this stock has just moved in steep ascent without giving another buy point. Stops is now set at $101.

After my 1st buy at $42.50, this stock gave another buy point at $45 and it has move up since. Oil well services sector continues to outperform most of the industries.

After hitting my buy point at $56.50, I'm still waiting for another buy point on this leading stock. Hopefully, it would start to rest from here and print a FLAG or a Darvas Box.

When I first posted this trade at $39, it moved sideways for a few days which resembled a FLAG like price pattern. It then brokeout of the flag and move up few more points. A rest from here is in order for this stock.

This is a very interesting trade because for some, they said that AAPL is in TOPPING formation at I'm crazy to even trade it long. But since 1st buy point, it already offered another buy point at around $94. It is very interesting to see how the price will react at $97 price zone.

After my 1st buy point at $105.70, this stock just barely moved. But the price action in the last few days seems to suggest that higher prices are in order. Buy point would be when it clears the top of the FLAG.

1st buy point on this stock was at $74.15. Is this stock flashing the buy FLAG again?

Initial buy point was at $44.60 and it has risen fast and furious in the last 3 days. Might be due for a steep pullback.

This stock has moved nicely since my 1st buy point at $57.17. It might start to rest from here before a new buy point can setup.

10 comments:

Anonymous said...

I purchased some options for HOC the day after you posted a chart for it a while ago and have profited nicely and am also still in the position! I feel a bit ashamed of admitting that I took the trade when I didn't really do the research myself to find the stock however I am trying to become more independent and find my own picks.

I've taken the recent posting of how you do your daily scans and although I don't have an Ameritrade account I've just used the free MSN screener to mimic your screen and then have just typed in the symbols manually into Prophet to scan through them and then make a list of the potential candidates for the next day. While it does take about an hour to go through the list I did find some nice candidates and it's a good learning experience! I just wish Prophet had a way to easily load up the symbols that the MSN screener exports without me having to manually type in each symbol to get the charts... I guess that's the one benefit of the Ameritrade analyzer is that you can take a look at the charts there before loading the ones you care about into Prophet.

mc said...

Anon,

I'm glad that you made some profit from HOC but I hope that next time you do your DD first because it re-enforces your conviction of the position.

May I suggest copy/pasting the symbols from MSN screener into Microsoft excel first and then you can concatenate the symbols to produce 1 long list which you can copy and paste into prophet.net entry field.

--MC

Anonymous said...

MC. check out MT. Also, looks poised for a breakout.

Alex G.

AJ said...

MC, very nice charts! I'll definitely keep these stocks on my radar.
Regards,
AJ.

Anonymous said...

Ah thanks for the tip MC -- I didn't realize that you could do that and wasn't aware of the bulk add link. This is perfect!!!

I thought I'd have to write my own software to pull up the charts somehow. Being a software developer sometimes we overlook things that are already there and make it harder than it should be :) But maybe it's just me itching to write some software that isn't work related and boring :)

I have noticed in the comments to people you are always very helpful and nice. You're an awesome person and my hero! Thanks again!

Cheers,
PR

mc said...

@Alex G, thanks for the headup about MT. You are right about it being ready to move. This sector is just strong.

@aj, have fun with it but please do trade well!

@PR, sometimes we people from the IT profession completely miss the simple and easy solutions. We always think of the adventure and fun of building complex methods to solve our simple problems.

Those are very kind words you said about me. Thank you.

Anonymous said...

MC, do you just use TA to pick your stocks or do you also incorporate fundamentals?

Anonymous said...

MC. How do you like VIP breaking out from that flag? Looks similar to other flag breakouts you bought before. thanks!

Alex G.

Anonymous said...

I was trying to re-create you scan criteria on StreetSmart - the EPS is 35% of the TTM - is it correct to say you want a 35% increase (or more) over the TTM?

Thanks for your helpful blog.

mc said...

@anon 9:35pm, I screen for high growth stocks first and look for technicals

@anon 5:18pm, TTM >= 35%