Andy Dunn was nice enough to send me a copy of his new book, Great Companies, Great Charts, to review. In the book Andy explains the trading system he developed after his portfolio took a beating during the recent bear market. His system, which has some similarities to CANSLIM, is very simple — [...]
Here’s today’s list, for what it’s worth. I won’t even set my alerts until after the Fed decision this afternoon… and maybe not at all.
Currently holding:
So much for that holding through the Fed plan. I got stopped out of some positions early on today and hung in to the last two positions for the rest of the day. With the market hanging tough and the Fed looming I decided to just get out (back to the original plan) [...]
Once again there are only shorts on the list. Most of these have bounced near their middle Bollinger Band and started making bearish candlesticks (shooting stars, bearish engulfing, doji, spinning tops) in that area.
I may change my mind about holding positions through the Fed decision tomorrow. If I can get a [...]
Be sure to check out this week’s Carnival of the Capitalists which is being hosted by Martin ‘Egoist’ Lindeskog over in Sweden.
In response to my moving averages post Martin asked for my take on Michael Covel’s trend-following method. Well I’m ashamed to say that I’m not familiar with Covel’s work, but that will [...]
Over the weekend Duru and I were talking about how many wild spikes there were in the final minutes of trading on Friday. Like I suspected on Friday, that was a result of the Russell 2000 re-balancing. Some charts are so bad that I didn’t even know whether the data was legit. [...]
Today’s gap up and subsequent sell-off made what called a ‘Gap and Crap’, a.k.a. ‘Gap and Trap’. (Funny that StockCharts.com’s annotation tool turned ‘crap’ into ‘—-’. Pretty slick of them.) It sucked in over-zealous buyers at the open and trapped them in losing positions. As some of you know, I have [...]
Well that gap up wasn’t as bad as it looked. Two of my shorts, SNDK and TARO, are actually down for the day. RHAT is real close to my stop, which I moved up to my max permissible loss of 5%. I actually added another short, SLAB, because it had such a [...]
I’m certainly caught worse than flat-footed this morning. Not only am I holding 3 shorts and no longs into this gap up, but I only have one long on my watch list versus 12 shorts. The good news is that the shorts probably won’t trigger… which, again, is why I only take positions [...]
I have an inside joke between me, myself and I about what can go ‘wrong’ over the weekend if I’m short. One of the answer to that is that peace is declared. Well that certainly didn’t happen, but the market is set to have a big gap up due to the earlier than [...]
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