We are two weeks into the Market Watch game I started. There are 4 players, I have no idea if any read the blog. I am currently in second place, mostly due to good luck rather than good trading.
Here are the current holdings I have. I have all small positions, no more than 2% of the total account, mainly due to the fact that I have little faith in the current rally. I also like to employ a strategy of starting with small positions and adding to those that are working, and if the rally proves itself stronger than it looks now, I may start adding to some of these positions. I have one short, ANF, which so far is gong nowhere, and one long, FLNC, which I am probably going to dump.
Here is my one completed trade. I shorted BVSN Thursday morning, thinking it was due for a pullback, and my target was about 13. Minutes after shorting it, it collapsed about 5%, so I put a tight stop on it and it got hit. It bounced back Friday, and I am looking to get back into another short here.
LIZ was the first bonehead move of the game. I actually caught it pretty nicely on the breakout (I bought it a little higher past the breakout point than I wanted to), and had a very nice profit within a few days. I did not bother to check to see when it was reporting: it dumped on the report day, and damn near hit my stop, which was about 10% below my buy point. Amazingly, it has done nothing but go up since. It is running into resistance at the breakout point, and I should probably sell here and take a small loss. The lesson of these two trades: it's a whole lot better to be lucky than good. Luck, however, is a poor trading strategy.
I am not a financial professional, just a guy that trades my own account.
I am also not a musical professional, just a guy that makes music on the computer. Thus, two blogs, one trading and on musical.
And, no, the picture is not me, it is the late, great John Belushi, one of the inspirations for these blogs.
This blog is focused on technical analysis of stocks and markets, putting heavy emphasis on chart analysis. My trading style is derived primarily from my mentor, William "Yoda" O'Neil, and the focus here is on leading and breakout stocks, but all forms of trading are covered to some extent. Economic and political news that effects the market are also topics here, and the blog may occasionally become a platform for my political and philosophical ranting. I keep several spreadsheets on Google docs which track various aspects of the market and readers are welcome to vies and comment on them.
Google Docs Spreadsheets
There are several spreadsheet that I maintain on Google docs to track various watchlists and trends in the market.
1. The earnings list - a group of small and micro cap, low float stocks that have exhibited recent rapid earnings growth. They are modeled along the lines of William O'Neil's CAN SLIM system, but limited to small cap, highly volatile stocks.
2. The relative strength list - a group of stocks which are near 52 week highs and have shown an increase in average daily volume. The list is limited to the top 200 stocks according to my methodology, which will be detailed on one of the pages of the spreadsheet.
It can be accessed here, and is also updates weekly.
3. Relative strength by industry - Uses industry data from Finviz.com to track the percentage of stocks within each industry that are in the top 25% of the 52 week price range, looking for trends.