tradersams blog

Friday was a busy day for me at work, and as I got home friday night, I found my portfolio had changed shape due to some of the trades I placed earlier.

AQP exit - UGLY!

I closed my position in AQP for a 20% loss – OUCH!  And the graph is ugly.  When I look at it now, after the pain of the loss has past, the price was clearly ranging.  When the share went through my stop loss at ‘1’ I should have exited immediately – instead I held thinking it might recover… big mistake… Never second guess the plan when its in place, take the exit signal when it comes, and re-enter if conditions suit.   Now to go write that out 5 times!  Anyway, learn from it – and move on.

CHC entry

Entered a long CHC position today, and as entries go, I am happy so far.  Pushed through what looks to me like the upper line of a flag on Thursday close, and rose all day friday – and look at the volume.

Having done this for a while, I came to my own personal view some time ago that I can pretty much buy anything – as long as I manage my exit well.  I can get out with a small loss if I enter badly – but keep it to a small loss.  That said, I’m always happy with an entry like the one in the picture… I’ll see how this plays out.

Entered a long FMG position. On close the days trade looks like a spinning top which is disheartening, but does not trigger an immediate exit.  Will keep a close eye.

Exited a long PNA position, but I’ll write this up when I fully exit, as I didn’t fill the order.

System A: Ran my scan – which is designed to run on weekends – still comes up blank!  It still doesn’t like this market.

Final thought for the week – this was an active week, more transacions than I usually like to make in a week, which is making the management of the positions more time consuming.  And it appears that even the professionals struggled with making anything of this week – read what The Kirk report had to say – he’s expecting a bit more to work with next week.