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Snooki Got Arrested
2 hours ago
Welcome to the Trader-X blog!
Wednesday, April 28, 2010
Sunday, April 04, 2010
U-turn and blogging
Posted by Tom C.
RIG was a good setup earlier this week, showing that the "u-turn" setup is alive and well.
It is time to come clean - me blogging on a regular basis is probably not going to happen. I wanted to carry on in X's absence, but I have other priorities that require my attention. The best time to blog is when the market closes - post a few charts and comments from the day's trading. But I have a routine that includes working out, family, and [purposefully] being away from the market. As a result, I can't motivate myself to get around to it.
I will still post periodically, but probably once or twice a month. I suggest you subscribe to the blog (see the options at the top of the page) and you will be notified when a new post appears.
In the meantime, check out the other great bloggers that appear on the sidebar.
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RIG was a good setup earlier this week, showing that the "u-turn" setup is alive and well.
It is time to come clean - me blogging on a regular basis is probably not going to happen. I wanted to carry on in X's absence, but I have other priorities that require my attention. The best time to blog is when the market closes - post a few charts and comments from the day's trading. But I have a routine that includes working out, family, and [purposefully] being away from the market. As a result, I can't motivate myself to get around to it.
I will still post periodically, but probably once or twice a month. I suggest you subscribe to the blog (see the options at the top of the page) and you will be notified when a new post appears.
In the meantime, check out the other great bloggers that appear on the sidebar.
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Sunday, March 21, 2010
Saturday, March 20, 2010
A few charts...
Posted by Tom C.
Here are two of my favorite charts from this week with brief explanations:
AMLN - a classic cup and handle pattern with consolidation at the previous high (which was the handle), and a three bar pattern that offers a very high success rate:
Note that the target (FE) was just a few cents below a whole number ($24)...see my previous posts if you don't understand my point here.
ABX - another pattern with a high success rate - a gap up with a first bar close in the top half of its range, the second bar is narrower but stays in the top half of the first bar's range, and the third bar was a nice "hammer-type" candle that closes green and just above the morning high.
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Here are two of my favorite charts from this week with brief explanations:
AMLN - a classic cup and handle pattern with consolidation at the previous high (which was the handle), and a three bar pattern that offers a very high success rate:
Note that the target (FE) was just a few cents below a whole number ($24)...see my previous posts if you don't understand my point here.
ABX - another pattern with a high success rate - a gap up with a first bar close in the top half of its range, the second bar is narrower but stays in the top half of the first bar's range, and the third bar was a nice "hammer-type" candle that closes green and just above the morning high.
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Sunday, March 14, 2010
Back to blogging?
Posted by Tom C.
The February vacation was unbelievably exciting. I returned back to a "normal" routine the first week in March, but have not made it back to the blog until now. I will try to post a few trades next week.
I hope 2010 is starting off great for everyone. Spring is in the air, and so far the new year has been good to me and mine!
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The February vacation was unbelievably exciting. I returned back to a "normal" routine the first week in March, but have not made it back to the blog until now. I will try to post a few trades next week.
I hope 2010 is starting off great for everyone. Spring is in the air, and so far the new year has been good to me and mine!
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Sunday, February 07, 2010
Tuesday, January 26, 2010
BJS - 012610
Posted by Tom C.
I am getting ready for vacation in February...I will be gone most of the month on 2 separate trips. I will try to finish this week off with a few posts (edit - didn't happen, sorry!), and then hopefully resume in March.
I am posting the chart of BJS because it was a classic setup, albeit slightly higher risk as the entry was below the opening range high (ORH). It also drives home the point I have been making since 2009 - watch those whole numbers. BJS reversed at $22, which was just above the FE.
edit - I entered on a break of the 4th bar's high, and sold just under $22 after price broke through the FE.
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I am getting ready for vacation in February...I will be gone most of the month on 2 separate trips. I will try to finish this week off with a few posts (edit - didn't happen, sorry!), and then hopefully resume in March.
I am posting the chart of BJS because it was a classic setup, albeit slightly higher risk as the entry was below the opening range high (ORH). It also drives home the point I have been making since 2009 - watch those whole numbers. BJS reversed at $22, which was just above the FE.
edit - I entered on a break of the 4th bar's high, and sold just under $22 after price broke through the FE.
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Thursday, January 21, 2010
BK - 012010
Posted by Tom C.
I don't always use trendlines, but when I see something I consider obvious I will. To me, the trendline I drew on BK was obvious; looking at the bigger picture price gapped up and after a short rally pulled back to the RZ and bounced off that level. There were some possible, more aggressive, entries prior to the one I actually took - but I opted to enter on a break of the strong green bar's high that formed above the trendline.
I watched the ORH level for a reversal, but price acted "textbook bullish" by breaking that level, pulling back to test it as support (resistance becomes support), and rallying off of it. I closed my position at $31 (there is the whole number again).
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I don't always use trendlines, but when I see something I consider obvious I will. To me, the trendline I drew on BK was obvious; looking at the bigger picture price gapped up and after a short rally pulled back to the RZ and bounced off that level. There were some possible, more aggressive, entries prior to the one I actually took - but I opted to enter on a break of the strong green bar's high that formed above the trendline.
I watched the ORH level for a reversal, but price acted "textbook bullish" by breaking that level, pulling back to test it as support (resistance becomes support), and rallying off of it. I closed my position at $31 (there is the whole number again).
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Wednesday, January 20, 2010
Back to work
Posted by Tom C.
It was a nice four day weekend, but now I am back at it. Here are the charts from last week's post - scroll down to read the details on entry and exit.
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It was a nice four day weekend, but now I am back at it. Here are the charts from last week's post - scroll down to read the details on entry and exit.
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Wednesday, January 13, 2010
A few trades
Posted by Tom C.
I wanted to post some charts this morning, but my software is down. JCI was a good "u-turn" setup yesterday. Looking at my trade log, I entered on a break of the 6th bar high. If you plot Fibonacci lines over the opening range of the morning, you will see this setup occurred just above the 50% level of the morning's high to low. JCI provided another great example of price stalling out at a whole number ($30), and if I remember correctly it printed several bars at that level giving you a great signal and plenty of chances to close a profitable position.
I have not had many shorts this week, but noted CSIQ was a great setup; my broker did not have shares to borrow but it is still a good chart to study - similar to one posted in the comments of Friday's post by a reader. Price gapped down and fell the first 30 minutes and then pulled back into resistance before turning back down. I was looking to enter on a break of the 13th bar low, but again my broker did not have shares to borrow.
I will try to post charts when my software is up and running.
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I wanted to post some charts this morning, but my software is down. JCI was a good "u-turn" setup yesterday. Looking at my trade log, I entered on a break of the 6th bar high. If you plot Fibonacci lines over the opening range of the morning, you will see this setup occurred just above the 50% level of the morning's high to low. JCI provided another great example of price stalling out at a whole number ($30), and if I remember correctly it printed several bars at that level giving you a great signal and plenty of chances to close a profitable position.
I have not had many shorts this week, but noted CSIQ was a great setup; my broker did not have shares to borrow but it is still a good chart to study - similar to one posted in the comments of Friday's post by a reader. Price gapped down and fell the first 30 minutes and then pulled back into resistance before turning back down. I was looking to enter on a break of the 13th bar low, but again my broker did not have shares to borrow.
I will try to post charts when my software is up and running.
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Tuesday, January 12, 2010
More trading blogs
Posted by Tom C.
I like to read Pradeep's blog, StockBee. Every morning, he has been posting "stocks likely to break out today". Yesterday SEED exploded at the end of the day (I had no position).
Check it out - it is probably a good basis to start your morning watchlist.
And Wall St. Warrior still puts up great content day after day - after all of these years, it is probably the most consistent blog with quality information out there.
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I like to read Pradeep's blog, StockBee. Every morning, he has been posting "stocks likely to break out today". Yesterday SEED exploded at the end of the day (I had no position).
Check it out - it is probably a good basis to start your morning watchlist.
And Wall St. Warrior still puts up great content day after day - after all of these years, it is probably the most consistent blog with quality information out there.
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Sunday, January 10, 2010
Trading Blogs
Posted by Tom C.
I am looking to clean up X's "Blogs I Read (Trading)". It looks like Anarco, Tyler, Attitude Trader, and 00NR7 haven't posted in a while - has anyone heard anything from them? I would hate to remove them if they are planning to start back up.
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I am looking to clean up X's "Blogs I Read (Trading)". It looks like Anarco, Tyler, Attitude Trader, and 00NR7 haven't posted in a while - has anyone heard anything from them? I would hate to remove them if they are planning to start back up.
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Friday, January 08, 2010
Friday trades
Posted by Tom C.
I am kicking myself for missing a trade in WFT, but I had a nice one in CMI. Take a look at the chart and see if you can figure out where. I am done for the week - I will try to continue this crazy blogging spree I have started next week!
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I am kicking myself for missing a trade in WFT, but I had a nice one in CMI. Take a look at the chart and see if you can figure out where. I am done for the week - I will try to continue this crazy blogging spree I have started next week!
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LEN - 010710
Posted by Tom C.
Yesterday, LEN did a "u-turn" and rallied - almost - to the FE. What stopped it? A whole number, as I have pounded on for a few months now. It stalled out at $16, and I closed my position on a break of the 2:40 bar's low (marked with the top arrow).
My entry was a little riskier. I can make an argument I entered on a "hammer-type" candle, but I hate hammers that close red. What made me bullish was price finding support above the RZ and on a rising 8EMA. The 4-8 bars made a nice bottom, and I entered on a break of the 8th bar's high.
Fibonacci lines were plotted in traditional style - PDL to ORH.
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Yesterday, LEN did a "u-turn" and rallied - almost - to the FE. What stopped it? A whole number, as I have pounded on for a few months now. It stalled out at $16, and I closed my position on a break of the 2:40 bar's low (marked with the top arrow).
My entry was a little riskier. I can make an argument I entered on a "hammer-type" candle, but I hate hammers that close red. What made me bullish was price finding support above the RZ and on a rising 8EMA. The 4-8 bars made a nice bottom, and I entered on a break of the 8th bar's high.
Fibonacci lines were plotted in traditional style - PDL to ORH.
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Wednesday, January 06, 2010
Blog workings
Posted by Tom C.
The sign-up link to receive blog updates via email has changed from FeedBlitz to FeedBurner. If you already receive posts via email from FeedBlitz, you can switch to FeedBurner or leave things as they are (the FeedBlitz emails will still come, but future people who sign-up will do so with FeedBurner).
To recap:
If you want to sign-up for the RSS feed, click here.
If you want to sign-up to get updates emailed to you, click here.
As always, you can find these same subscription options at the top of every page (SUBSCRIBE TO THE TRADER-X BLOG).
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The sign-up link to receive blog updates via email has changed from FeedBlitz to FeedBurner. If you already receive posts via email from FeedBlitz, you can switch to FeedBurner or leave things as they are (the FeedBlitz emails will still come, but future people who sign-up will do so with FeedBurner).
To recap:
If you want to sign-up for the RSS feed, click here.
If you want to sign-up to get updates emailed to you, click here.
As always, you can find these same subscription options at the top of every page (SUBSCRIBE TO THE TRADER-X BLOG).
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