TerryS's Blog

[Glenn]

It's no secret, but perhaps you don't know. Surprisingly it's hardly ever mentioned on t2w or elsewhere:-
Fact is that 80% of the risk in a stock is due to the overall market and the Sector, and nothing to do with the stock itself, seriously.
That's a big number.
Always check the overall market and sector charts before you decide what to do. Otherwise you are just trying to find the odd stock which bucks the trend and they are much rarer than the ones which go with the flow (As Jon says).
Don't try to walk up an escalator when it's going down.
Glenn

 

[TerryS]

Wednesday close March 23

SYNM trade was stopped out for -$168
This market continues to look grim, there are no tempting setups for tomorrow, I will watch from the sidelines, licking my wounds.
Portfolio update -$755, -6.52%
One way to look at the present drawdown is that it is good to get it out of the way at the start of the journal. The jury is still out on the system's viability at present. When market conditions improve for longs then I will be able to give a better answer to that question. At least with a disciplined stoploss approach I am still in the game, though a bit battered.

 

[TerryS]

Pre Monday open March 28

I will go long 500 CCK with a 2% stop. In view of current weakness/uncertainty it will be a one day hold or 3% target.
I have decided to only trade IBD 100 stocks from this point on.

 

[TerryS]

Monday close 28 March

CCK trade: entered @ $16.14, exit @ $16.03, -$60
Porfolio update since 6/03/05 -$815,

Todays rally looks a little weak to me. I will sit on the sidelines tomorrow.

 

[TerryS]

Pre-open Thursday 31 March

Time to try again. It may be a sucker's rally but I will put my toe in the water again.
Tomorrow I will buy 300 PTEN soon after the open

 

[TerryS]

Friday 1 April

Entered 300 PTEN @ 24.88 and closed day @ 25.05, +$48. I will close the trade today at market close.
No more trades today, waiting for market direction

Portfolio update -$767

 

[TerryS]

April 1 Post Market

PTEN trade closed out @ $25.81, +$276
I will buy 100 ASCA if it breaks yesterday's high of 55.55 with a buy stop order.
Portfolio update since 6/03/05 -$539

 

[TerryS]

Market Open April 6

I went long 200 BYD @ $53.99 (Stop $52.91). I will hold for 2 days.

 

[TerryS]

Friday 8 April Open

BYD trade closed @ $56.25, +$338
I went long 300 RMCF @ $22.35 @10.20 am EST. Stop at 21.90

Portfolio update -$202

It's good to close with a reasonable winner yesterday. BYD is up again today but the trading plan is to hold for 2 days so no second guessing the plan. Nearly back to breakeven. Focus on the process of trading and not the $$. Otherwise emotion will influence my decision making. In my opinion the market will MOB (make or break) soon. If the recent rally is real, it will soon show, so my stop is a little wider with a little bit less risked.

 

[TerryS]

Pre- market 11 April

Open trade: 300 RMCF finished the day @ 22.70 (+$102). The spinning top candle and the general market condition is a cause for concern so I am raising the stop to 22.20. I will close this trade on Monday.

I will enter ASR if breaks 29.10 with a smaller than normal position. This market seems to be at a crossroad. A week up but with a strong down day to close the week.

Portfolio update (since 6/03/05) -$100)

 

[TerryS]

Tuesday Open 12 April

RMCF trade closed @ $23.14, +$234
I entered 200 ASR @ $29.15 (Stop $28.57)
Tomorrow I will enter either 200 UNT above $44.67, OR 150 CNQ above $56.71, whatever comes first.

Portfolio update +$111.

Good to be back in the black. Focus on the trading process and not the money !!

 

[TerryS]

WEdnesday Open 13 April

ASR trade closed @ $30.31, +$230.
No new trades activated yesterday.
Today I will go long 200 AMHC above 36.50 OR 300 BOOM above 30, whatever comes first.

Portfolio update +$263

 

[TerryS]

Thursday Open 14 April

I went long 300 BOOM @ 30.05. Initally the trade was positive but soon reversed and it was stopped out at 29.40, -$198.
A very volatille stock.
No entry today, market is at major support, I will sit it out and see which way it goes today.
Portfolio update +$65

 

[TerryS]

Pre open Monday 18 April

A significant break of support on indices. No set ups that take my fancy. The best strategy is to be patient and stay in cash. Cash is a position.

 

[TerryS]

Tuesday Open 19 April

We may get a bounce today.
Long 100 BYD @ 53.49. One day hold. Stop 51.95
A smaller position than normal and only one day hold due to market weakness

 

[TerryS]

Tuesday Close April 19

BYD trade closed @ 53.10 , -$40
No setups for tomorrow, the general market still looks dicey, I will stay out for the meantime.
Portfolio update since 6/03/05 +$25

 

[TerryS]

Friday Open 21 April

I went long 100 TS @ 58.99. A break of high of yesterday's spinning top. Stop 57.72. A small position as I wait to see if this rally will last.

 

[TerryS]

Market Open Monday 25 April

I bought 100 TRI @ 50.40 (Stop 49.39)
TS trade is still open.
The market has broken recent resistance but I am trading smaller position than normal until clear direction is seen.

 

[TerryS]

Premarket Tuesday 26 April

TS trade closed @ 60.10 +$110
TSI still open (+$101)
Tomorrow I will be looking at ABCO, ASR, CHTT, LFL for an entry after a break of previous high. First come first served.
Portfolio update +$236

 

[TerryS]

Wednesday 27 April

TRI trade closed @ 50.17, -$24
No trade was triggered yesterday and nothing looks good on my daily charts. I will be sitting out today.
Portfolio update since 6/03/05 +$111