31/03/2015

Market down on open and stocks not holding levels. Utility sector up and this is where money flows when stocks are not providing good returns for big funds

Trades

Lost track of time and ended up holding CHK short overnight.

TEVA
Trying to settle at morning low but did not hold
Limit order entry
Hard stop out
Would have been better to wait for stock to test 62.00 and there was more volume at this level

Loss 10.45

HCP
Quiet stock and holding on the open.
Strong up move yesterday
Limit order entry
Hard stop for exit (away from screens)
Trade was in profit but was away from the screens so missed exit, need to sort that with some exit orders
Loss 10.45

SPY

Copy SSpencer's short at end of day
Too much noise and stopped out by a cent

Loss 10.25

WeekStarting 30/03/2015

Indexes up slightly but not trending and stocks failing to find any follow through.
SMB am meeting not much use, biotec making runs and takeovers but again scrappy trading

Weekly goals
Trade pullback on stocks that have gaped up on news, products or events
All entries at limit with well defined levels, Open prices, new highs,  volume and support on short or long term charts
No entries on stocks that break pre-market levels
Scale out of positions
Hard stops on all positions
Close all positions at end of day

Daily trades

TEVA
ATR 1.3
Short Interest 0.79
Rel Volume 1.9
Volume 4.5 mil

Reason to trade -  In acquisition drive and just purchased another company Auspex

Entered on sideways on 5' chart with limit order
Held to last 5 minutes of the day and closed out with stock not moving

Good trade, got in on limit at support and very small loss.- $1.50