Trader Mike

What a coincidence (do coincidences actually exist???) that just as I’ve been thinking more about money management Worden has had a run of users writing in about money management. Here are some of those letters which were published in the Worden Report (emphasis & links added by yours truly):

I love the ridiculousness of CNBC’s ‘portfolio’ challenge. They just interviewed the guy who’s currently in the lead. He’s up over 100% in the few weeks that the contest has been running. How did he jump into the lead? He threw his whole wad, about $1,500,000 (29,000 shares) at NTRI ahead [...]

What a day! There was something for just about everybody today — except me. The action got pretty frantic while just ahead of Bernanke’s talk and continued right through mid-day. But it was a little too wild for me so I called it quits around 11:00 without making any trades. I’m [...]

I’ve updated last night’s post in response to some questions & comments.
It looks like good reasons to tread cautiously today (from Briefing.com):

S&P futures vs fair value: -6.8. Nasdaq futures vs fair value: -9.2.
Futures versus fair value are signaling a negative start for stocks as another batch of strong earnings reports take a back seat [...]

I’ve been doing a lot of thinking about money management and compounding of late. The other day I realized that I’d accumulated over 100 R of profits since I began day trading. (1 R = my initial dollar risk on any given trade.) More specifically it’s 100 R from when I started [...]

It’s oil inventory report day so I’ll be (happily) on the sidelines until after 10:30…
Potential swing trades:
Longs: AG, APH, BGC, CSX, CTXS, EMKR, EXP, FCS, ISE, LVS, PALM, PAY, PNK, RFMD, RSAS, STP, VMC, WFR, WWW
Shorts: None

This morning I thought this would be a busy day — boy was I wrong. (That’s what I get for making a prediction!) Sellers stepped in right from the opening bell and by the time 10:15 came around (when I usually start trading) I certainly wasn’t looking to go long and I didn’t [...]

There are lots of movers this morning thanks to earnings reports. This is going to be one of those days when I wish I had a couple of more monitors to track everything. Should be a fun one today…
Potential swing trades:
Longs: ADSK, AG, ARW, CMC, CSX, CTXS, CY, CYMI, DGX, FCX, GLG, LVS, [...]

We had minimal follow-through on Friday’s selling / weakness. My guess is that people pulled back a bit ahead of this week’s flood of earnings reports. It sure felt like nobody wanted to commit to anything today.
Surprisingly, I had a rather long list of long candidates after running my scans tonight. [...]

I think this is the heaviest week of earnings reports so I don’t want to put too much weight on any technical setups. But here’s a quick look at the Nasdaq and S&P charts:

Once again I’ll be focused on the earnings movers for day trades as well as trying to catch some of last [...]