Archive for the ‘cey’ Tag
friday – close cey
Leave a comment
cey close
CEY: Closed my Centennial Coal position on friday at $3.40 for a 17.9% profit. I decided to take a close where I figure some resistance will kick in – and it seems to have over the last 5 sessions or so.
Reasons for exit – close below rising trend line / bounce down from upper resistance / slow down in speed of price increase.
On another note – System A still not returning anything! Surely it must kick in soon.
Anyway, time for bed. My trading frequency is dropping – I wonder if this means the market is a tad stable at the moment. I’ve noticed the the increase speed of the portfolio is slowing also.
today – open cey, thought on bhp
pyramid into CEY
CEY: Increased my position in Centennial Coal today. This was a pyramid entry at $3.53. I set an entry trigger over the weekend to fire when the upper resistance level was breached – but as you can see, resistance held and the price fell after my entry.
Still, the share has been performing well and volume is strong. I’m looking for a climb to the upside tomorrow or I may have to rethink this secondary entry.
bhp - triangle breakout
BHP: The big Australian is always worth watching, with good trends, gaps and all sorts of good stuff.
Of interest today is the white candle coming out of the descending triangle, looking like a very nice breakout signal. As I am still bullish on BHP I have taken this trigger to take an call option on BHP to try and capitalise on the move. If you review my BHP trades you will see its not always my most profitable instrument, however at times in the past it has rewarded me well.
bhp flag
On a hunch I have changed the position of my lines outlining the triangle and I get the diagram found to the left. All I’ve done is draw it more like a flag, and shown the measured move I am hoping to profit from. Not a perfect flag I’ll admit as I like to see it formed over a shorter period when compared to the duration of time spent forming the ‘flagpole’.
I’ve added this chart to chart.ly as I wanted to play with the tool – you can see it here.
For anyone interested – WPL (Woodside) has also broken through resistance and is looking good for a move. If I hadn’t already entered BHP I’d say its a stronger looking move.
today – cey – chc
Another big day for the ASX all ordinaries.
cey - todays entry
CEY: Trigger on ASX fired on opening and placed me straight into the market. This was on my list based on the consistently strong volume over the last few months, combined with the size of the gap to the next resistance level.
CHC: good white candle today, so I’m in this one again. Better luck this time maybe? Well – just follow the plan.
General comment for the evening: I am interested in twitter, I use it – I post my trades via tweets so that I can justify to myself that I am sticking to my plan and to others that I’m not making this up. I am interested in some of the add on services to twitter (stocktwits anyone?) , but am concerned at the concept at sharing my passwords with anyone – now go read this article about the hacking of twitter. Having been a computer security consultant for a significant part of my career this concerns me. Anyway, what can you do? C’mon twitter, use some better practices. Individual users making errors is one thing – but companies?
Off for a sleep,
tradersams blog 