Tuesday, May 01, 2007

Trade Plan for 5/1

Here are the trade activities for the past two trading days (4/27 & 4/30).

Sold THE @ $46 on 4/30
Sold JASO and FSLR for breakeven on 4/30
Sold BIDU @ $128 on 4/27
Sold RVBD @ $33.50 on 4/27

Bought GROW @ $27 when it printed reversal candle along 50% retracement area on 4/30
Shorted LVS @ $88 on 4/30
Bought IBM @ $101.30 on 4/30

A couple of swing trades.

Bought RTI @ $97.60 and was later stopped at $$95.50 for a -$2.10 loss.
Bought CHAP @ $69.80. Stop is set at $68.35

For today, I'm looking to add to my AAPL, BTJ, IBM and GROW positions. The IBM's giant within has awaken so this should get noticed more.


moc said...


Could you tell us why you shorted LVS on 4/30? I can see that it broke out downward from a range. Also, did you give weight to the head-and-shoulders pattern of the last several months (I don't know if those work, so I would like your opinion)?

For the benefit of your readers, there is, by the way, an earnings conference call for LVS tomorrow, Wednesday, at 4:30 PM EST.

Also you recently mentioned a reversal candle on some other stock. I can't help commenting that LIFC printed the most amazing hammer on the daily chart today. It came through on a screen that I am using that is similar to the one that you describe on your site at the link "How I prepare for the trading day". That's how I found it.

And again, thanks much for the opportunity to review your trading.

-Mike O'Connor

mc said...


Please check my post regarding LVS.

Regarding LIFC, the location of the reversal candle is very important. My opiniion is that it is still in the middle of a SWING leg and not a complete pullback/retracement.


gary said...

Do you care about the gap in CHAP?? LOL no pun intended