Here is the update on the Market Watch game. There are now 6 players, and still no one is running away with it, so there is plenty of time to get in. We did have a problem on Tuesday with orders not working, which caused me to lose a lot more than I should have since all of my stops would have been hit. I made the mistake of cancelling the stops and entering market orders, only to discover that they weren't working either. They then executed the next day, when the system was working again, so I ended up losing about double what I should have. The next time something like that happens, the best course is to do nothing and just wait for the order system to start working again.
Fortunately I have kept a few positions open and gained back a lot of the loses with this rally. I currently have no stops set but will set some before the close. I have been quite a bit more lucky than good, and still under performing the market. This weekend I am going to be looking at some possible short positions as I am not quite convinced this rally will continue, but will keep some longs in case I am wrong.
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.