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Author Archives: Stock Trade Journal
Russel 2000 reaching key resistance
The Russel 2000 ETF (IWM) is approaching a key level of resistance marked by its broken trend line and the $113.50 price tops of late November and January. It has been lagging the QQQ and SPY in recent weeks which … Continue reading
DryShips ganing strength
DryShips (DRYS) found support around $3.20 and has been moving higher for the past few days. There are sellers coming in at $3.70 at the moment which is preventing a gap fill from the sharp drop on January 24th. I … Continue reading
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Molycorp back at long term support
Molycorp (MCP) gave back all of the gains it racked at the beginning of the year. It retraced all the way back to $4.55 where it has found strong support in the past. After Friday’s bounce, resistance is looming around … Continue reading
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Bank of America holding up well
Bank of America (BAC) has been holding up well compered to the overall market and the financial sector in general. It is important to pay attention to the leaders in sectors that are under pressure and focus on those stocks … Continue reading
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Short target reached. Emerging Markets
The final target for my short position on the Emerging Markets was reached yesterday. I closed my position on the EUM (Short EEM ETF.) We’ll now have to see if the EEM finds price stability around this level of support.
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Nibbling DRYS
I bought a smaller than usual position in Dry Ships (DRYS) last week as it seems to have found support around $3.23. It is easy to define risk here as the stop will trigger just below $3.10 and my initial … Continue reading
Buying fear
The market is set for a gap open lower this morning after disappointing earnings reports from Amazon and Google last night. I would like to take a quick trade this morning. Gap opens into support often reverse within the first … Continue reading
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Baidu heading towards support
Baidu (BIDU) shares look like they are headed towards support area around $154 -$150. I am keeping my eye out for a bounce there, but it may ultimately retreat to $140 in the short term. On Balance Volume is still … Continue reading
Dryships back in trading range
Dryships is back in the trading range that started in October last year and might have found support around $3.23 yesterday. The ATR trailing stop is still keeping me in the trade and it would have to close below $3 … Continue reading
Many stops triggered, but short EEM working
I’ve written a few times in my journal that a good way to mitigate risk is to hedge long positions by shorting the weakest markets. A few of my stop loss orders were triggered during this down turn and made … Continue reading
