Our AT Webcast virtual trade SNDA, which was a buy stop (if stock rises 37.25) limit (2.25) on 10 May 40 calls filled at 7:31 at 2.15. Currently is at 3.30 or just over 50% on the call options.
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11:35 am ET - ES +9, NQ +14 and the SPX +9 are all trading higher Tuesday morning. Our real time vitural trades on SNDA and DECK from Monday nights AT Webcast filled Tuesday morning. As stated we are using the recent pull back as an opportunity to enter additional positions in our Model Portfolio.
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Learn The Discipline
We have added 24 positions this morning in the Model Portfolio. These are done in a real time virtual account and done at the real time trading price at the time the orders are filled.
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http://chartsignals.blogspot.com/2009/02/coming-next-week_07.html
BMO - ES +8 and NQ +12 futures are higher in pre-market trading pointing to a higher open. If the cash markets open higher and continue to move higher, Monday could be the low day in a two day pull back, so watch for a break of the high of the low day.
At the Open on Tuesday
SPY – lower high, lower low
SNDA – hammer
DECK – hammer
UNP – confirmed bearish harami
CTSH – hammer
X – lower high, lower low at 30 DMA
DLB – confirmed bearish harami
CRM – lower high, lower low
NFLX – bullish engulfing
GME – harami
ISRG – broke bearish pennant down
WYNN – lower high, lower closed below 20 DMA
ILMN – dragon fly doji
6 comments:
Dave,
On the RIMM you have a deeper stop is that because of volatility? I tend to get stopped out sometimes because I tend to set them too tight? What is your recommendation on setting stops?
Not sure whom I'm addressing:
Thank you...it is actually a miskeyed number...the stop is 39.52 NOT 29.52...I will correct the post this evening...stops are based on the individual stock chart support levels including the 30 DMA...if you read the original Learn the Disicipline Posting about 8 weeks ago there is a more in depth explanation.
Dave
Any concerns that RIMM comes out with earnings on 4/2 ?
Follow your rules...I can tell your question is based on thinking only in terms of an individual trade not in terms of a managing a portfolio of trades...there is a huge difference between the two perspectives...This is a Model Portfolio so we apply a wholistic portfolio view...Answer - NO - the position is the proper size with minimal risk to the portfolio...Best for you to follow your rules as you trade.
Dave
Hi Dave
Great job on your blog. Love it. Is there a way to get an alert or an email when you've posted a new entry intraday?
Thank you Dave I will check out the information on Learn the Discipline.
Michael
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Not sure whom I'm addressing:
Thank you...it is actually a miskeyed number...the stop is 39.52 NOT 29.52...I will correct the post this evening...stops are based on the individual stock chart support levels including the 30 DMA...if you read the original Learn the Disicipline Posting about 8 weeks ago there is a more in depth explanation.
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