Chart Dump

Bullish on the mkt, so looking for longs.  These caught my eye.  Lining up a trade on ABBV but we'll see how it reacts on Monday given they were written up postiively in Barrons.  Don't want to chase the stock on the open, lets see where it settles.

$ABG is also a set up that has worked for me in the past, so watching that one as well.

$FLT I've owned in the past, might be time to get back in.

The others could be interesting breakout plays.  Hoping to put on at least one or two of these this week.

$ABG

$ AVGO

 $FLT

 $LCI

 $SWI

 $TSM

 $TW

 $VRX

 $WAL

 $ABBV

SHOO!

Bought this the other day:  $31.41 and paired it with a $30 Septermber Put bought at $1.25  So total Risk thru Sept is $2.69.

Rationale is that its coming up on a big support zone as well as the rising trendline.  Obviously it's been falling as of late, but i think the longer-term pattern holds.

Assuming you can play for $40 or more per share, the risk reward here is excellent. (famous last words)

Charts from 5/19 (chart dump)

Charts from 5/19 - Sometimes I get the feeling that when you end up with too many charts it probably means you're not being selective enough.  Well that could be the case but here they are unedited and unfiltered.  I need to do some work on this group, but I think there are definitely some good ones in here.

I just tried to drag/drop 9 charts into blogger.  Didn't work.  I guess we'll go the more traditional route.

Disclosure - I did short EZA (while simultaneously buying a $71 strike call.  The 71 calls are just to get me through the month and my 30-day minimum holding period, but that being said there is some merit to having them aside from that.  If the equity market here in the states really takes off and this is correllated you'll be happy you own the calls so the short doesn't run right in your face.

The others I haven't bought yet.

Keeping Track of Things:

Tax time is a great time to go back and look at what you did in the prior year.  What worked?  What didn't? There are trades you remember, and there are others that you try to forget.  The taxman forces you to remember them all.

This blog (if you can call it that) is really a way for me to keep track of my thoughts in a somewhat organized manner.  I grab a TON of charts throughout the year, and I mainly just save them all to Dropbox. All file names include the ticker so that if I ever want to go back and look for a given stock, I can immediately call up any chart I've ever grabbed of that ticker.

When I'm feeling extra motivated or if I find a chart particularly useful/important, I print them out and put them in *the book*. The book I've referenced before is a physical book that has my notes in it.  If my computer dies, the book will survive. (granted, if my house burns down, the book will be gone) but I feel like it really focuses your energy as a way to say -- Is this trade worth printing out and putting in the book? Would I be proud of this trade to go back and look at?  If the answer is no, sometimes it helps you avoid trades that you subconsciously know aren't really what you want to memorialize.

So I save my work in multiple forms.  The computer when I just grab charts to sift through later, the physical book, the master spreadsheet that has all sorts of goodies/calculators/planning info, and the blogs/forums/stocktwits places to bounce ideas off others or to just give other people ideas to use.

The combination is hopefully a level of rigor that forces you to keep your eye on the ball and to make adjustments as needed. It also allows you to see what works and what doesn't.

Re-Starting the Blog:

So this blog has about 5 posts back in 2008 and 2009 goes dark for 4yrs and is now (sort of) back.  A lot has changed in that 4yrs, we've all learned a lot about what to do and what not to do in a crisis and recovery situation.

As you can see from my recent posts, my trading has become more technical in nature.  While I certainly look at fundamentals, i won't let that drive my decision making process.  If the chart is going down, for the most part, no matter how compelling the fundamentals, I won't touch a stock (with a few exceptions).

Anyhow, If you're new to the blog, feel free to read previous posts, but very old ones I'd be careful on because we've all grown older and wiser...

The Results of my usual scans. These are all Weekly charts, therefore only suitable for longer time frames (which what I trade anyway). I'm already long HUM and MEAS and will be looking to buy OAS and potentially THRM next week.

$HAS

$HUM

$IGT

$MEAS 

$OAS

$SHOO

$SRCL

$THRM 

$WHR

Some charts from the weekend... All Weekly except for KORS (daily) and all longs, except for MS which looks like a short to me. 

Haven't done the fundamentals on any of these, i just like the way the charts look.

$RDY
 











$MS
 










$KORS
 

$RGEN