Friday, February 5, 2010
TREND REVERSAL
Thursday's action has officially put an end to the uptrend. 20/50 EMA cross over, VIX crossover, SKF and short ETFs broke out decisively from the 50 EMA.
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Follow the trend.
Welcome!
Current Sentiment - NEUTRAL
Recent Picks:
1/19/2010 - (PALM) Short at $13.40
1/22/2010 - (PALM) Cover at $12.60
1/11/2010 - (X) Short at $65.20
1/15/2010 - (X) Cover at 62.10
12/7/2009 - (S) Buy at $3.80
12/8/2009 - (S) Buy at $3.96
12/9/2009 - (S) Sell 1/2 at $4.19
Recent Picks:
1/19/2010 - (PALM) Short at $13.40
1/22/2010 - (PALM) Cover at $12.60
1/11/2010 - (X) Short at $65.20
1/15/2010 - (X) Cover at 62.10
12/7/2009 - (S) Buy at $3.80
12/8/2009 - (S) Buy at $3.96
12/9/2009 - (S) Sell 1/2 at $4.19
12/17/2009 - (S) Buy at $3.68
11/30/2009 - (X) Short at 44.40
12/8/2009 - (X) Cover at 44.00
9/28/2009 - (FCX) Buy at $66.81
12/8/2009 - (X) Cover at 44.00
10/26/2009 - (AA) Buy at $13.26
1/21/2010 - (AA) Sold at $14.19
1/21/2010 - (AA) Sold at $14.19
10/26/2009 - (CGA) Buy at $12.46
2/4/2010 - (CGA) Sold at $14.10
2/4/2010 - (CGA) Sold at $14.10
9/28/2009 - (FCX) Buy at $66.81
2/16/2009 - (FCX) Sold at $75.53
9/24/2009 - (EK) Buy at $4.81
9/24/2009 - (EK) Buy at $4.81
1/28/2010 - (EK) Sold at $5.65
9/17/2009 - (STEC) Buy at $34
9/17/2009 - (STEC) Sold at $32.40
9/17/2009 - (STEC) Buy at $34
9/17/2009 - (STEC) Sold at $32.40
About Me
- Vagabond
- I am a stock trading enthusiast that aims to present a clear view of the stock market to the general public, based on strategies that I have developed over my trading career. There is no get rich quick scheme involved here, just some simple rules to follow.
Fundamental Rules of Trading
---GOLDEN RULE OF TRADING---
Follow the trend - Use 20 Day and 50 Day EMA as the trend indicator.
---GOLDEN RULE OF TRADING---
Sell into strength in downtrends, buy into weakness in uptrends.
Don't pay much attention to financial reports/news, other people, stock commentators, CNBC, Bloomberg, etc.
Rather buy in higher and be right than catch bottom (buy lower) and be wrong.
Cut the dogs loose, let the horses run.
Short as well as long the market. Only going long is like driving a car that can only move forward.
NEVER EVER take more than a 10% loss.
Don't make trading decisions intraday.
If you lose, you learn a lesson. If you get lucky, you learn to gamble.
The worst thing that can happen to a trader is to make money on a bad play.
It's better to miss a play than enter a bad one.
In an uptrend pay close attention to the 20 EMA, in downtrend mind the 50 EMA.
Don't day trade. The stress is not worth the money.
Trade alone if possible. The herd is almost always wrong.
Follow the trend - Use 20 Day and 50 Day EMA as the trend indicator.
---GOLDEN RULE OF TRADING---
Sell into strength in downtrends, buy into weakness in uptrends.
Don't pay much attention to financial reports/news, other people, stock commentators, CNBC, Bloomberg, etc.
Rather buy in higher and be right than catch bottom (buy lower) and be wrong.
Cut the dogs loose, let the horses run.
Short as well as long the market. Only going long is like driving a car that can only move forward.
NEVER EVER take more than a 10% loss.
Don't make trading decisions intraday.
If you lose, you learn a lesson. If you get lucky, you learn to gamble.
The worst thing that can happen to a trader is to make money on a bad play.
It's better to miss a play than enter a bad one.
In an uptrend pay close attention to the 20 EMA, in downtrend mind the 50 EMA.
Don't day trade. The stress is not worth the money.
Trade alone if possible. The herd is almost always wrong.
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Disclaimer
The information contained on this website and from any communication related to the author’s blog and chartbook is for information purposes only. The chart analysis and the market recap do not hold out as providing any financial, legal, investment, or other advice. In addition, no suggestion or advice is offered regarding the nature, profitability, suitability, sustainability of any particular trading practice or investment strategy. The materials on this website do not constitute offer or advice and you should not rely on the information here to make or refrain from making any decision or take or refrain from taking any action. It is up to the visitors to make their own decisions, or to consult with a registered professional financial advisor.
This websites provides third-party websites for your convenience but the author does not endorse, approve, or certify the information on other websites, nor does the author take responsibility for a part or all materials on the third-party websites which are not maintained by the author.
This websites provides third-party websites for your convenience but the author does not endorse, approve, or certify the information on other websites, nor does the author take responsibility for a part or all materials on the third-party websites which are not maintained by the author.
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