July 2012 Trading Thread

[highstakesfan]

Originally Posted by savant111

Current Holdings 25% Ulta 75% cash.

don't let ULTA turn into a big fat loser

http://finance.yahoo.com/q?s=ULTA

use STOPS to protect profits when u have them

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[savant111]

Tks highstakes...I hear you and it's certainly a good rule of thumb.

Going to spend some time studying more and rewriting my trading rules. Keeping green trades green makes sense and is something I've practiced in the past, but have been experimenting with risking them in pursuit of bigger gains. I'm realizing this is probably a mistake in range bound markets.

For positions you are willing to hold 1-8 weeks, Where is the point you look to protect profits? And where do you put in your stop?

[cky23k]

Market bleeding is about over, IMO. Turning from bearish to bullish. Scans are picking up a lot of good long options here.

XEC, BG, POOL, ZION, HALO

[dshen13]

savant, imo you ought to rethink how you are executing your trades with absolutely no discipline. so many times you are posting how "happy [you] are to hold this trade for the whole summer", and then are selling THE NEXT DAY. Or things similar in nature.

[savant111]

Bought AAPL in extended hours at 599.18. Will sell some point tomorrow if market down, will hold over weekend if we're up or flat.

[savant111]

Other stocks Id like for day trades long tomorrow: DLTR, ALXN, LTD, MCD, V, WPI, WWWW

[Morishita System]

Wow.....that BBY short idea is looking better and better.

http://www.slate.com/articles/busine...l_retail_.html

[JBmadera]

great, three full stops so I'm already out for the day (trading futures that is), insane vol in the /CL this a.m.

COCKTAILS

[Pet3r67]

Has anyone read the book: A Random Walk Down Wall St? I'm a bit of a rookie in the trading world and looking for a good foundation. I have this book and wondering if I should start here.

Thanks

[JayTeeMe]

S&P @ 1350, sell imo

[savant111]

This one goes out to my buddy Highstakesfan:

Peeled half of ULTA off at here 92.95 for a 2.6% gain. I'll freeroll the rest over the weekend. Main reason for peeling is retail sales on Monday, might freak the market out if it goes bad. ULTA has had awesome SSS # of late, but they warned it will fluctuate so taking some off the table makes sense.

AAPL struggling to take out $603. I'm going to give it a while, but I might sell it before close if it can't get above $605.

I'll be working rest of the day, so this will be my last update. Good luck to all trading.

Jay, better off waiting for market to turn before shorting imo.

[highstakesfan]

Originally Posted by highstakesfan

Originally Posted by highstakesfan
I am short the market

SPY north of $135......QQQ north of $64

Will have a tight STOP in tomorrow to protect measely profit..

Stopped out right near today's open. I had a hunch about covering Thursday, but didn't act on it.

Still think this market will be lower in August then it is now, but what do I know

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[highstakesfan]

Originally Posted by savant111

For positions you are willing to hold 1-8 weeks, Where is the point you look to protect profits? And where do you put in your stop?

I never go in with any preconceived notion of holding any minimum length of time.

As a general rule of thumb, I will not let any profit over 1% percent turn into a loss. I tend to get out of things fairly quickly, and will retry something often if I still like it.

Nothing pisses me off more then letting a Green trade turn into Red.

I use IB for my daytrade online acct, so I can get in and out fairly cheaply on most stuff.

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[highstakesfan]

I let a 1/2 dozen longs trades go earlier in the week that look so sweet now it is making me sick.

My one long stock is up less then the overall market, pathetic way to end the week.

[boldnbet]

anybody here has subscriptions to any services that give you trades daily? Or can recommend me to one of the good ones?

Thanks